Show Weekly Bank Statement New York March 24 The weekly bank statement shows the following chancres hamros c Surplus reserve increase Loans decrease Specie decrease Legal tenders landers increase Deposits decrease i Circulation increase The banks now hold In ex excess ems cess of legal requirements New Nan York March 24 The Financier says The New York banks are gain gaining ing i ng in surplus reserve although the current statement shows a loss in ac actual actual cash during the week The easier position is due entirely to the fact that loans and deposits are being contracted heavily What is bringing about this sudden decrease is rather difficult to answer but that special operations are ara responsible is not conceded One bank alone seems seams to have contracted its loan to an amount equal to the shrinkage adopted by the corn com combined blued banks and this institution was responsible for the greater part of the falling failing oft in deposits As its cash holdings suffered a ma material tonal reduction the average reserve of the tho other banks is somewhat higher than a week ago A loan reduction of almost in two weeks with a proportionate drop of in d da posits is unusual at this time of year in fact these figures have been rarely exceeded at any time The reduction of course explains why hy the surplus re reserves r serves are now rising even with a heavy loss of cash to to the treasury and the interior The that have been pj for several weeks in depleting the cash holdings of the tho banks are slowly changing Last week for instance the loss to the Int was nothing of consequence and the treasury is no longer gaining at the expense of the banks Exchange at domestic centers Is strong owing to remittances to Now New York on board ac account account count and the treasury from the cause will probably be a debtor for some sometime sometime time The new circulation taken out must sooner or later have an effect on en m memo ney rates so that the immediate outlook favors an easier condition Borrowers hold this view if their indisposition ta to place offerings at ruling quotations now nosy is a criterion and the attitude of lenders also reflects the same opinion In the face of reviving activity on tile tHe stock exchange however it is not safe to count on a continued reduction In Inthe Inthe the leading items of the banks The Now York institutions are working new circulation Into use the increases of the past week having been This brings the total to which while not a record figure is yet far above the average A continued Increase is to be expected |