The Birmingham age-herald., 1912-12-08
Bank Statement


 New York. December 7.-The statement of the actual condition of the clearing house banks and trust companies Tor the week shows they hold s3,0l5,2oo reserve in excess of legal requirements This lS an increase of ss,O7S, 15o from last week. The statement follows:
 Daily average loans s1 .S6S, 10000, de- crease S31 135,000; specie S293 090,0c0- de crease $7,720,OO0; legal tenders SSl ,4i0,Wo decrease $43, ,0O0; net deposits N ,6do, ,S23,Voo decrease $35, ,3sG GOO; circulation $46, fo9,0oo decrease s1O0.000; banks cash reserve Tn vault, $313, O0o0 trust companies current cash reserve in vaults, $6n9ooWo; 'totai cash reserve, $37i, ,5300o0 deficit lawful re- serve $7355O, decrease $56,500; trust com panies' reserve with clearing house mem- bers carrying 25 per cent cash reserve, $44, ,935, ,000
 Actual condition: Loans $1 ,S4I 900, de- crease $42 600; specie $293. .2500oO in- crease 9090 legal tenders SS1, ,1S6,VO0, de- crease $5lS,0o0: net deposits $l,6i9, GsOoo, pdecrease $4006l, GOO; circulation s46,S2eOU, increase S106, 600; banks cash reserve in vault, s313,07s GOO; trust companies cash reserve in vaults. $e1, ,S5s, 900; total cash re- serve, S374, 436, 900; excess lawful reserve &, ,035, 200, inrease $S,073,150; trust com panies' reserve with clearing house mem bers carrying p per cent cash reserve, S47, ,S9S, GOO Summary of state banks and trust companies in Greater New York not included in clearing house statement: Loans s579,SS5'o0O; decrease s2,42Iogo; specie $67, ,s3O, 800, increase s5,s72,9O0; legal tenders sS. 446, 600. increase s51,20o; total deposits S620, ,954, ,e00 decrease $5, 693o.
 The analysis of the statement shows that the burden of loans has shifted to interior institutions. The A0,0oo,000 de- crease in actual net deposits doubtless rep resents in large measure withdrawals by
 aF xt4f.f .fsaIa were probably loaned from here. These reserves were available immediately after the cali of the comptroller.
 The cash items were nominal The av- craze statements shows a loan contrac- ton of only sSl,0O0O00 with cash loss of s7. 75O. GOO. leaving the very moderate de- felt of S73,550 in the cash reserves items.
 New York, December 1.-The Financier will say:
 Preliminary estimates were that the clearing house banks Of New York had gained to a considerable extent in cash as a result of the weeks operations. par ticularly in the matter of a flow of money from the interior toward this center.
 The statement of actual condition is sued Saturday, however, showed a very small loss of SS9.000 in cash, but the de felt in reserve reported at the close of
  tlp through the unusually large reduction of s42 O4S coo in loans. which brought about a corresponding decrease of s4oOs1, GOO in net deposits and a lessening of re- serve requirements amounting to- over s10000,0o0.
 This was not only sufficient 10 wipe out the deficit in excess reserve, but left an actual excess of $3,O15.200 above the 9 per cent minimum. It is difficult to ex- plain the extraordinary contraction in loans, which evidently was made for the most part by banks proper. although the separate statement of the trust com pany showed that they also had reduced loans by more than sl5,c00.VOO The de- posits of the trust companies alone de- creased nearly s22 2Oo0,000 for the week.
 The statement based on the system or daily average did not reflect the later operations of the week, although changes were heavy, loans having been decreased more than s3l, ,000.G00 and deposits 35 l-3 millions, while the loss in cash. reflecting earlier movements, was almost sI,sOOO00 The clearing house banks in the state ment figured on the system of daily aver ages still report a deficit of s73.o50 in re- serve. The tide in the flow of cash money has turned unmistakably in this direc- tion, and it is expected that the banks from now on will show a quick recovery in cash reserves.