The Birmingham age-herald., 1911-07-09

Net deposits, s1,s7s,1 5000; increase, 5,S20,000.
 Circulation. s4e,575,ooo; increase. 1 s36,00O.
 Bank cash reserve in vault, s6e.- 1 956, 900.
 Trust company cash reserve in vault | s66,956,00s Aggregate cash reserve, s436,S41,O0o; decrease, SIP, ,5O7,00O. Reserve required, $4s9,035,750; in- crease, $1,4s0.000. Excess cash reserve, s1O,924, ,250; de- crease, s37,5SS,00. Trust company reserve with clearing house members carrying 25 per cent of cash reserve, S6S,903,000. Actual condition: Loans, $2,0O9, 3.O00; increase,
 Specie, ss45.ss7ooo; decrease, s21,- 737,000.
 Legal tenders, sS3,S2s,ooo; increase,
 Net deposits, s1,S62.Oos,ooo; decrease, s19.35 .000.
 Circulation. s4s, ,ooo; decrease, sS3,OO0.
 Banks cash reserve in vault $359. 66S,000.
 Trust companies cash reserve in vault, s69,S36,000. Aggregate cash reserve, $429, 4,000; decrease, s101 l 50,000. Reserve reouired, s465.5020O0; de- crease, $4,SS9 900.
 Excess cash reserve. szS77,oOo; de- crease, S16,072.000. Trust companies reserve with clear ing house members carrying 25 per cent cash reserve, $65, 305,000. Summary of state banks and trust companies in Greater New York, not reporting to the New York clearing house:
 Loans, sssf.s7s,soo increase, se,- 037500.
 Specie. s65. 560,o 900; increase, sS74,300.
 Legal tenders, s13,256,OOo; increase, $746,300.
 Total deposits. s7S4oo6.ooo; increase, $6, 65,700.
 The Financier will say:
 The statement of the clearing house banks for the week ending July was issued in new form, the percentage of cash reserve, which the trust company clearing house members carry with the |banks proper, amounting for the cur rent week to $65,350,000 having been eliminated from reserve cancellations. Criticism has been made that the meth ods employed since the inclusion of the trust companies as members was rather misleading, in that it duplicated that portion of the trust company reserves carried as cash in the banks.
 Ihe new statement shows nothing but the actual cash held as reserve in the vaults of both classes of institu- tions. The changes for the current week, other than in the totals of cash owing to the deduction just mentioned, were about as estimated. There was decrease of something over S21, ,0O0, 900 in specie and legals, traceable for the most part to heavy payments by the banks on Panama canal bond account. Loans remained almost stationary. a decrease of only $628,000 having been reported, while net deposits, as the re- suit of the heavy cash reduction, con- tracted $19,5O0,000
 The aggregate cash reserve held by the clearing house members now totals 9,000,000 and the excess cash reserve is $7,377,0QQ This does not take into consideration the $65.00O, 900 which the trust companies have on deposit with the clearing house members. The cash reserve as reported figures out about 23 per cent, counting both banks and trust companies, the latter being re- quired to keep only 10 per cent cash reserve in their own vaults.
 Calculated on the former method the cash reserve would show in excess of 26 per cent. The separate statement made to ihe superintendent of banks by the | trust companies in Greater New York | indicated that during the week they ex- i banded their loans and investments | nearly s19,5OO, 900 and increased the de- | posits about $9,000,000, while the gain | in cash was $1,000000.