The Birmingham age-herald., 1917-10-28


 Union Pacific and other standard rails, in which German investors once hold large interests, was regarded as evi- .dence of enormous offerings prompted by seizure of Teutonic properties in
 this country. or else maneuver of tho
 shorts to effect further depression Of
 prices.
 Towards the latter part of the week,
 this situation was partly arrested. but
 international rails were at lowest prices
 for several years.
 Daily operations were on . limited
 scale, but the trading comprehended all
 classes of securities. Financial state-
 ments disclosing railway earnings. and
 those of industrial corporations were
 made the basis of fresh attacks, and the
 doubtful dividend status of many pub.
 lie utilities rendered those issues moro
 valuable.
 In banking circles interest in tho lib-
 erty loan was the outstanding feature.
 The success of that project to an ex-
 tent hardly deemed likely few days ago again imparted greater ease to the
 money market, and caused a contrac-
 tion of short contracts, especially in representative stocks.
 The bond market was disappointing in the sense that the lower levels reached by many high grade securities have thus far failed to attract invest
 ment buying. This condition 1t Is be- lieved will change for the better after l the liberty loan is out of the way. New York Clearing House New York. October 27.-The actual con- dition of clearing house banks and trust companies for the week shows that they hold $56.56S,670 reserve in excess of legal requirements. This is decrease of $2O 300 from last week. The statement follows:
 Actual condition Loans, discounts. etc.. s4576, 116.ooo; increase. $Soe, ,13s. 900. Cash in own vaults. members federal TO- serve banks (specie included, $104, 492. .000). $s4. 650.00o; decrease, 8, ,49s.000. Reserve in federal reserve banks of member banks, $440,S2o,000; increase, $l4.1140oo. Reserve in own vaults. state banks and trust companies (specie included, $104, ,492, ,000). $50 900; decrease. $3.7s7,ooo. Reserve in depositaries, state banks and trust conn panies $51,s77.0 900; decrease. N2, 122,o0o. Net demand deposits Omitted States deposits deducted, s45s,317, ,0OOO, $3,565, 576,000; de- crease, $54,195000. Net time deposits, $220,- 0,000; increase. s1S.0OO. Circulation. $s2, : 7750O0; increase, $46.0O0 Aggregate re- serve 542. 2.477,Ooo. Excess reserve. s55,55s,- : 670; decrease, $20, ,946, 300.
 Summary of state banks and trust conn panies in Greater New York not included in clearing house statement: Loans. dis counts. etc., $S5S SS1, 200; increase. $12.173,- 800. Specie, $45,961 S00 decrease. $11.087, 600. Legal tenders, $42 922. 100: increase. $25.069.- 100. Total deposits, 1.011, ,755. 900; increase, 1,SS7, 100. Banks cash in vaults, 1S,141,- TOO Trust companies' cash in vaults, E5.- 742,200.
 Atlanta Reserve Bank Atlanta, October 2.-The following is the statement of resources and liabili- ties of the federal reserve bank of Att lanta at the close of business on Octo- Der 26
 | Resources: Gold coin and certificates in vault. $6.175.490.22; gold settlement fund, l S. .s5s, ,25O: gold with foreign agencies. N,-
 5750 900; gold with federal reserve agent, 1 $40 0067. .s26; gold redemption fund. @6S9, 73O9S; total gold reserve, @62. .207, 290. 20; \ legal tender notes, silver. etc. $2l7, ,607; {; | total reserve, $52. 454. .SoS.20 Bills discount ed members. E,2sa. .2Ss.63; member banks collateral notes. s6.242.50a; bills bought in
 open market. s2,775.s2o72: municipal war l rants, $l55. 149: United States long term securities (bonds) $S92,900: United States l short term securities Certificates. etc), ! $, 945,O00; total earning assets, $s4, 2s4.- ll6s.35. Due from other federal reserve
 y>a ~ha nn1lAotnA fyiudR. M 114. l2k. .&3s tYaN-