Evening star., 1912-07-07
NEW YORK BANKS.
Opposite u. S. Treasury.
Oldest National Bank
in Washington.

NEW YORK. July 6.-The statement OF
clearing house banks for the week five
days) shows that the banks hold 81 .32S. 500
reserve in excess OF legal requirement.
proportionate cash reserve as compared
with last week
The statement follows:
Loans, Loan ss.oss, es2, 900; increase. e,5o2.-
Specie, 1855. $40, 600: decrease, SIS, 56e, 900.
Legal tenders. ss4.l25.OOo; decrease. ST.
Net deposits. 1880 ,2ss.ooo; decrease.
Circulation. s4s cs4.O 600; decrease. sle4.-
600.
Banks cash reserve in vault. $384. .554.-
COO
Trust companies cash reserve in vault.
Aggregate cash reserve. $780, I'll 600.
Excess lawful reserve, $1,32s.5 500; de-
crease. $40. TAG, 80.
Trust companies reserve with clearing
reserve. SIC. $4,000
Actual condition: Loans 81. 0SS, 35s 900.
increase S11.317 600; specie x344 $50 900. de-
crease $24.O10OO0: legal tenders SIS. 222.-
600, decrease $141, 900; net deposits 81 ,934.-
go 900, decrease So. SJ3 0NU; circulation
$40, 1876. 600, decrease S513, 900; banks cash
reserve in vault. 1858, oil 600: trust COM
panies' reserve in vault, $15.191 900; ag
cash reserve. $5.413,20O, decrease $17. .959.-
GOO: trust companies reserve with clear
ing house members carrying 25 per cent
cash reserve, $65, $40, 900.
Summary of state banks and trust COM
panies in Greater New York not report
ing to the New York clearing house:
Loans SOIL 4S9, 200. increase 81 .958 600:
specie S63. .634.9O0. decrease $764 100:
legal tenders S.907, ,0eO, increase SI52. .6OD:
total deposits S703.0 .029. 700. increase ST.
S6l. .1Go.
The Financer will say
While a reduction in excess cash re-
serve had been anticipated, the statement
of the clearing house banks in New York
for the week ending July q. showing an
actual deficit of 81. 413, 200 in this item
was a surprising feature. The deficit ex-
lists only in the statement calculated on
actual conditions, the statement based
on daily averages showing an excess
above the 25 per cent minimum of 81 32s.-
500. The explanation of the loss of re-
serve Is to be found In the decrease of
81, Isl 600 in cash during the week. Loans
that these loans represented an actual
cash reduction to the banks. On the
weeks operations the banks lost prob
ably something like $4,000. 900. owing to
with the sub-treasury, and the loan ex-
pansion accounts for the remainder OF
cash loss. Deposits, as might have been
expected, decreased heavily, the actual
reouctOnS having Deen S-o,h1S,tV, anu,
while this lowered the reserve require
ment considerably, ii could not make up
for the heavy cash loss. hence the deficit
reported. Another factor which COM
plicated the bank situation was the divi-
dend adjustment period, but IL is almost
certain that the very heavy payments OF
interest and dividends will be found I'm
the bank totals within week or two.
and the deficit. therefore. ought to prove
only temporary. The statement. COM
piled according to daily averages, did not
include the later operations Of the week.
The losses reported came almost entirely
from the banks proper. The separate
trust company statement showing that
the latter institutions gained almost
81. 100000 in cash. although their loans
EXPANDED $10,O00.000. and their deposits
rose over $21, 100000