Evening star. [volume] (Washington, D.C.) 1854-1972, 1911-10-22
NEW YORK BANKS,

NEW YORK. October 21.-The state
ment of clearing house banks for the
week shows that the banks hold SIS oO3.-
80 reserve in excess of legal require
ments. This is an increase of $3445 80
in the prOpOrtiOnate cash reserve as COM
pared with last week. The statement
follows:
Daily average
Loans. 81, 916.O74. 600; decrease 1892 OOO
Specie, $685., OS1 900; decrease ST. 734. 600
Legal tenders, $50, 436, 800; increase, 81
5000.
Net deposits. sl.7so.775.ooo; decrease,
$40 s:59.OD
Circulation. s5o,O29.Ooo; decrease, S0,-
900
Banks cash reserve in vault. $685., 97O,-
COO
Trust companies cash reserve in vault,
$63, 547 600.
Aggregate cash reserve. s419.517,OoO.
Excess lawful reserve, $15,2O39 $50: in
crease, 81. 445, $50.
Trust companies reserve with clearing
house members carrying % per cent cash
reserve, $50. $4,000.
Actual condition:
Loans, s1.9o5. $4,000; decrease. s14.
$1,000.
Specie 1897 $50 900; decrease, Sl2O5OOO.
Legal tenders. $S2.5GO.U0O: increase. ST.
94@ Zoo.
Net deposits. s1.767. 6o7 600; decrease,
81. 10000
Circulation. s5O,s19, 600: increase. $751;. 900.
Banks cash reserve in vault. $3.50. 40S, 900.
Trust companies cash reserve in vault,
S64 9S4, 600
Aggregate cash reserve. $500, $4,000.
Excess lawful reserve, $1,000, $40; in
crease. 81, i91 800.
Summary of state banks anc trust COM
panies in Greater New York not report
ing to clearing house:
Loans, 5000, 400: increase, S1,S20.9O
Specie, $62, 241 600; decrease. $1.2S4. 100
Legal tenders, $11,475.60O; increase.
$3G:,. 500.
Total deposits. $3.50. 700, 500; decrease.
s.. 516 SOC.
The Financier will say
An unexpected decrease of $22.J79. 900 in
deposits, not altogether accounted for by
the contraction of sl4.6lO.O00 in loans.
and the small shrinkage of S75j,0OO in
specie and iegals, was feature of the
statement OF the clearing house banks of
New York for the week ended October
II The result of the changes noted was
to add $5,p41 $50 to the excess reserve,
bringing the present surplus to SD, 3O3.
$50 The figures cited are based on the
statements of actual conditions. The re-
port of averages for the week indicated
much smaller changes, the surplus re-
serve based on the average computation
standing at SIS. 203, $50. The sudden con-
| traction in the item of loans is rather
difficult of explanation.
The reductions did not come from trust
company operations, as the separate
statement of those institutions both in
| and out of the clearing house revealed
| only moderate changes in leading items
as compared with the previous week. A
statement such the one under dis
cussion only emphasized the present stag
nant condition of the money market and
explains why rates in New York remain
steadfastly below the normal-so much
/ lower. i'm fact. that financial institutions
of this and other cities are loaning more
extensively than ever to European cen
tiers. With sterling exchange at the gold
export point II seems almost certain
that an outward movement of specie Is
to come shortly, and this despite the
fact that our export trade balances from
now on will increase materially because
| of present and coming cotton and other
commodity purchases by Europe.