Show I The Bank Statement New York Nov 2 The statement of clearing house banks for the week shows that the banks hold less than the requirements of the 25 per cent re reserve reserve serve rule This Is a 1 decrease In n cash re ic reserve reserve serve surplus of as compared with last week The statement follows Loans increase OO Circulation Increase jOO Legal tenders decrease crease 20 Q Reserve Reene decrease Reserve Resene required increase 7 I I Deficit increase Ex United States deposits not given The statement as given out at the clear clearIng clearIng clearing Ing house contains this additional sen sentence sentence sent tence t nce Percentage of reserve 2130 against 20 Y YIn in 1893 The deficit of this week com corn compares compares pares with a deficit of last week The Financier will say As we expected because of or the severe strain upon uvon the institutions last week the official state statement statement statement ment of ot the New York associated banks made a very unfavorable exhibition al although although although though so far as regards the percentage of reserve resene to deposits this was 2130 2100 per percent percent percent cent against 20 2 per cent in 1893 The banks gained cash from the sub treasury through disbursements from that office but the drain to the interior was wasso wasso wasso so great as to much more than offset this hence the net loss of cash as of ot officially shown shows was Deposits were increased by and the reserve requirements were there thereby thereby by b augmented Adding this to the loss of ot cash made ade and the decrease in reserve deficit Loans were expanded indicating indicating indicating ing that the demands upon the banks for accommodation must have been enormous enormous enormous ous Response thereto however appears to have been liberal for had such relief reller been withheld the situation doubtless would have hare been even more disturbing It seems quite probable that the state statement statement statement ment of ot this week will wUl show much Im Improver Improver improver qt nt t as the result of ot the arrivals of gold i In m n Europe which will begin to tobe tobe tobe be imported by b Wednesday and also be bee because because cause of ot the utilization of other meas measures measures measures ures of or relief It may be Interesting to note the changes in associated bank conditions In Inthe Inthe inthe the week ending June Tune 17 1893 1593 when the crisis of that year affected the statement so seriously and the outlook was so EO un unfavorable unfavorable unfavorable favorable as to compel a resort to the measure of ot the issuance of clearinghouse clearing house I loan certificates and to other relief de devices devices devices vices Compared with the exhibit of or the previous week June 12 1893 deposits were reduced legal tenders 7 and specie making the net loss of cash The surplus reserve was however reduced nl and the banks held an excess reserve of oC 8 Then as now the bank conditions were Influenced by heavy shipments of or currency to the west which section was In greatest need of assistance The con contraction contraction contraction traction of or loans amounted to but SOO indicating that response to local needs was fairly fairl liberal |