Show GREAT ICEAS1t IN LOANS THIRTYTWO MILLIONS WITHIN PAST HOIJTH The Causes ContributingDeposits Increased Forty Million in Same Time Cash From the Interior New YorK Dec 11The weekly bank statement shows the following changes Surplus reserve decrease 3 235525 loans increase 9981300 specie decrease 609900 legal tenders decrease de-crease 402800 deposits increase 8 891300 circulation decrease 61800 The banks now hold 18887425 in excess ex-cess of the requirements of the 25 percent per-cent rule LOANS INCREASE The Financier says The Union Pacific Pa-cific reorganization committee last week made an additional payment of 8500 000 on account and this sum passing into depository banks has increased the averages of the clearing house institutions in-stitutions no less than 9000000 in de I posits The increase in loans is connected con-nected with the same transaction but it has swelled the total loan item to 607725000 which is by far the largest ever carried by the New York banks The effect of the transfer of the Union Pacific to the new purchasers may be traced in the expansion of the loan item of the banks during the past five weeks Qn Nov 15 last loans stood at 575 300000 as compared with 607725000 Dec 11 The loan increase therefore has been over 32000000 In the same time deposits have increased 40000000 and cash reserves S00 > 000 Admitting that the regular mercantile demand for accommodation has had some place in this change the main cause contributing contribut-ing to the normous increase has been in the operation in connection with the I Union Pacific syndicate The deposits of the bank most prominent in the I financing of this deal have grown nearly 22000000 in four weeks and its I loans 12000000 CASH FROM INTERIOR I The banks have been gaining cash from the interior for a number of weeks I past but the effect for the reasons just set forth has been greatly minimized I The rapid expansion in deposits requires re-quires each week a heavier reserve and the operations of the past six days have resulted in a decrease in the surplus cash in banks of 3235525 bringing the excess reserve to 18887425 the lowest since Oct 16 last That the changes noted are of a special spe-cial character is also shown in the item of cash the loss for the week having I been 1021700 This shrinkage can be traced to several large institutions one of which has probably decreased its cash through the payment of the sugar dividendSHIFTING SHIFTING OF FUNDS There will be more or less shifting of funds as the first of the year approaches ap-proaches in anticipation of the heavy dividend payments and another installment i install-ment of the Union Pacific money is also i due about that time The effect will be I I to make wide changes in forthcoming i I bank statements but with the supply of available funds in sight and the I credits held abroad there does not seem to be much chance for anything like a permanently higher level for money rates The governments payment of maturing matur-ing bonds the first of the year will release re-lease a great deal of money now II locked in bank vaults as a special deposit de-posit EXPORTS OF SPECIE I The exports of specie from the port I of New York for the week amounted to i 21305 in gold and 3898029 in silver i The imports were Gold 42825 silver I sil-ver 64352 |