Evening star. [volume] (Washington, D.C.) 1854-1972, 1911-07-09
The World of Finance and Trade.
Washington; New York; London.
NEW YORK BANKS.

| NEW YORK. July s.-The statemen,
| OF clearing house banks for the week
| five days. shows that the banks hold
| $10,94.25 more than the requirements OF
| the % per cent reserve rule. This is q
| decrease OF $37 .5sS,0OO in the proper
| tiOnate cash reserve as compared with
| last week.
The statement follows:
| Daily average-Loans, so,014 sol 600; in
| crease. SAL COS. 900.
Specie, $3.50, sos 600; decrease. $50. 496 900.
Legal tenders ss2.933. 600; decrease.
$6a9, 600
Net deposits. $l.s7s 1876. 900: increase. So
$4,000.
Circulation, s4e575, 900: increase. $4,000.
Banks cash reserve in vault, $500,
49, 600.
Trust company's cash reserve in vault.
sos 956, 900.
Aggresats cash sas ~ reserve s4ae's4l. 900;
Reserve required. $500, oss. 71o increase.
ST. $4,000
Excess cash reserve. s1O.s24.25e; de-
crease $37, 5SS 900.
Trust company's reserve with clearing
house members carrying % per cent cash
reserve, SOS. 9O3 600
Actual condition-Loans, $4,000. Dos, 900;
Specie. ss45,s7s. 900; decrease. s21.7sl.-
Legal tender. SIS. 1928 600; increase. $685.
Net deposits. s1.se2. 1000: decrease.
s1S $50 900.
Circulation. SAG, 721. 900: increase. $50, 100
Banks cash reserve In vault. $685.. $685.
600.
Trust company's cash reserve in vault,
$50. $50. 600.
Aggregate cash reserve. S42S,OOa,oUO: de-
crease S1O1, $50.
Reserve required. s4e5 5oo. 600; decrease.
81, $685. 900.
Trust company's reserve with clearing
house members carrying % per cent cash
reserve. S65, 305. 900.
Summary of state banks and trust COM
panies in Greater New York not report
ing to the New York clearing house:
Loans, s631 $40 800: increase, 5000. 900
Specie. sos 500, 600: increase. 1914. 400
Legal tenders. sl3.256.oOo; increase.
Total deposits, s7s4.oosooo; increase.
The Financier will say:
THE statement of the clearing house
banks for the week ending July 3 was rs
sued In new form, the percentage or casn
reserve which the trust company, clearing
house members. carry with the banks
proper, amounting for the current week
to S65, 3O5 600. having been eliminated from
reserve calculations. Criticism has been
made that the method employed since the
inclusion Of trust companies as members
was rather misleading in that 1t duplicat-
ed that portion Of the trust company re-
serves carried as cash in the banks. The
new statement shows nothing but the &C
tual cash held as reserve in the vaults or
both classes of institutions. 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 a decrease Of something over
$21 900, 600 in specie and legals. traceable
for the most part to heavy payments by
the banks on Panama bond account.
Loans remained almost stationary.
decrease OF only s62S000 having been
reported. while net deposits. as the
result Of the heavy cash reduction.
contracted s19.500.000. The aggregate
cash reserve held by the clearing house
members now totals s429,000.0 900. and
the excess cash reserve Is T.317,O0O.
This does not take into consideration
the SOS, 100000 which the trust COM
panies have on deposit with the clear
ing house members The cash reserve
as reported figures out about 90 per
cent, counting both banks and trust
companies. the latter being required
to keep only Is per cent cash reserve
in their own vaults. Calculated on the
former method, the cash reserve would
show In excess Of rs per cent. The
separate statement made to the super
intendent of banks by the trust COM
panies In Greater New York indicates
that during the week they expanded
their loans and investments nearly
S195OO 900 and increased their deposits
about 100000, while the gain in cash
was $1.000,00O.