The San Francisco call., 1910-07-31
All Classes Of Local Stocks
Inactive and Devoid OF Feature

cent discount rate and has increased its reserve
gold to this side continne and banks have aug
nented their cash gain from. the subtreas9ry.
about ss.ooo,ooo has been shipped e from Mexico
since the beginning of the month";
4 The reduction in the National lead dividend
| from a rate of per cent per annum to rate of
5 per cent came as a surprise. which any
/ thing but welcome. Such surprises should not
] be possible. The railroad stock holder now has
full and frequent information. The stock holder
in industrials is entitled monthly showings in
the same. way-an advantage which indisputably
i belongs to him because he furnishes the capital
| ASIDE from ali other favorable and unfavor-
able influences, which have been discounted, it
/ seems as though the fundamental basis for out
look lies in the crops, and as this is the time
| when reports their condition swing back and
/ forth much uncertainty must continue to exist
until real crop prospects are more definitely
| known later on.
.'0n the whole, conditions in general seem to
have improved 10 certain extent. t..
Weekly Bank statement
NEW YORK, July 3o.--The statement of
the banks hold s4s.5l1 BPS more than. the re-
ae Sc IN I
cash reserve, as compared with. last week. The
statement follows:
Loans 81 le1, 400. 200 increase SIS, $40. 700; de-
pcsits 81 2oT $50 700 increase So ST 500; cir,
culation S4s,4 $500, decrease sl20.3oo; legal
s277. .el6 300 increase s1152e 100; reserve $3.50
49,. 500. increase sl3,olI BOO; reserve required
81 .925, increase 50 800: ex United States de-
pcsits $4S92l .62o increase SS, 1913. 40.
:. The percentage of actual reserve of the clear
ing house banks today 1882.
The statement of banks and trust companies
! Of greater New FORK not reporting TO the clear
/ ing house shows:
Loans s1.114 4a1 200 decrease s21. .2o4. 100;
specie sl22 1so 600 decrease s.. s92 200; legal
tenders $21 Is6. 500, decrease 5000, 700; total de-
posits 81. DDS. 459, 500. decrease $4.344,30o
The Financier will say: While the Asso-
ciated Banks of New York City made further
large gain in cash last week, the statement on
Saturday reporting the amount TO have been
300, owing to the heavy expansion Of $40, ,002. 400
| in deposits. This counteracted the effect OF the
cash gain. The increase in deposits was due for
the most part TO rise of $50 35S900 in loans.
An explanation of the unexpected loan expansion
| is probably TO be found in the stock exchange
incident which involved the taking over by new
syndicate of the extensive holdings of the crowd
fully to buy control of number of we'll known
railroad lines. In this connection, however, 1T
is interesting to note the loans of the trust COM
panes and state banks fell during the week
$2l, ,104, 100, which corresponds almost exactly
with the increase reported in the cash clearing
house banks. The trust company contraction
was no doubt responsible In part for the rise In
institutions also reported decrease of about
81 500 900 in cash and decrease of $21. 1o0. 900
| in deposits. Still, even with the demands
! made upon them. the banks closed the week
! the - per cent legal reserve standing at SAL
226, 900. In view of this showing 1t need
hardly be added Fridays organization of a ma
tonal currency association by the. New York ma
tional banks was purely a formal and perfume
| tory proceeding"