Show GOLD ARRIVALS D DEPENDED UPON Millions of Dollars on the Ocean Due to Arrive in New NewYork NewYork NewYork York in a Few Days PLAN OF ST LOUIS LOWS BANKERS RED YELLOW AND GREEN SLIPS OF PAPER DRAPER AS MONEY New ew York Nov 2 The financial came to a close today without any notable developments The stock sock exchange was w s comparatively steady teady over the day with little activity runs upon banking houses seem to o be practically at an end and few important important Important tant conferences were held by finan finali financiers ciers The decline in the reserves of ot o othe the New York clearing house banks was heavIer heavier than any recent experience experience ence once but will bo largely offset by the arrivals of gold next week The ap apparent apparent apparent parent loss in the reserve was ivas about but of this was due to the requirement of the 25 per percent percent percent cent against an Increase in deposits of ot This increase in deposits in clearing house banks apparently rep represents represents represents resents the transfer of funds from the Institutions which have been subject to runs The actual loss in cash is about which reduced the reserve on hand to about Gold Engagements ments The gold engagements increased i slightly today by orders from Pitts Pittsburg Pittsburg burg and other points making the total engagement to date If It all of these amounts should go Ino into the reserves of the clearing house banks it would practically lly restore their sup supply supply supply ply of cash c sh during the past week Even the diversion of o a part of the amount to other cities will leave the bulk of the gold arrival to go into New York banks and will wili probably result in an nn increase of reserve next week Part of the decline in cash in the face of cf heavy deposits of treasury funds has lias l been een due to the calls of the country banks for currency It is believed that 1 these have been pretty largely met and that the amount will be nearly as large arge during the coming w wk k Reports received from various parts of the country Indicate that the system of meeting payrolls by checks Instead of ofIn ofIn In Jn currency is being largely adopted any essential inconvenience to Banks Took Over Loans William A Nash president of the Corn era Exchange bank and nd member of ot the New York clearing house commit committee tee said sald in explanation n of bank statement that the clearing house bouse banks have been taking over the loans called by the trust companies and that this increased the bank loans lo ns air Mr Ir Nash added The rhe trust companies have increased their deposits in the banks batiks The total deposits have thus been increased without any addition to the stock of cash and naturally the percentage of ot reserve has fallen I do not regard this as significant because the increase of deposits by the trust companies is paying not in cash but in clearing clearinghouse clearinghouse house funds The changes in loans deposits and a reserve are so much in the nature of bookkeeping that they the should not af affect feet teet the present situation The real matter in the bank state statement statement statement ment Is the supply of cash The losses during the week were not greater than I expected The shipments to the in interior tenor and the hoarding of the th currency account for the losses reported 1 I believe belleve that from now nOV on there will wUl be an au a improvement The currency will wIlt respond as it always has to the tempting premium that is being of offered offered offered The gold on the way from Eu Europe Europe rope will begin to flow in next week and with it will come a falling off of in inthe inthe Inthe the excitement about cash MONEY IN MISSOURI St Louis Banks Issue Slue Blue Yellow and Green Slips of Paper St Louis Nov ov a Little blue yellow and green slips of paper In denominations of 1 5 and 10 were put into circulation as IS money mone today by bJ the National Bank flank of Commerce the Third National bank and the Mechanics American National bank These differed rel from the cashiers checks which have been In circulation for a week In Jn that they were made payable to bear bearer er and no Indorsement or Identification was waa required to cash them At the tho same time that the new nev checks were put in m commission Auditor Wilson on and Cashier Lottman of the St fit Louis postoffice announced that checks will no longer be accepted by the postal depart department department ment In payment of any sort of an obligation obligation obligation gation All AU deposits to cover over on class clas malt mail matter must ml t be made In cash Pittsburg Scrip System Pittsburg Nov 2 The checking che or scrip system decided upon here yesterday Is ill In Jn general use today hy by the tho members of the th clearing house association It Is believed that business men and employ s will ac accept accept accept the plan In the light will u tri in insure sure EUre the steady stead operation of the great reat industrial establishments of the district An exceptionally heavy rush of busi business b lIl i iness ness Is being accepted here hero and the money situation threatened serious inter interruption Interruption The enormous payrolls about 7 had to be met and much anC anxiety lety was prevalent among bankers Un Under Under der the system begun beg n today employers will pay in checks of 55 3 5 no 15 and JO O denominations ordinary sums being sat satisfied satIsfied tailed with cash The landlord grocer Continued on Page 2 GOLD ARRIVALS S 5 t S DEPENDED UPON Page 1 1 and butcher but her are expected to accept ce t these checks ch the tIte same as currency y II Checks in Kansas City CI y Kansas City Nov 2 Half a dozen banks today began Issuing cashiers checks cheeks In amounts of ot 1 2 5 and 10 to tobe tobe tobe be used in place pf pi currency and payable to tob bearer ier The T clearing house certificates certificates certificates cates also are being used The he question l of Issuing the cashiers checks generally was considered this morning at a meeting of the principal bankers but it was decided to leave it to toI the discretion dis of the individual banks biks The financial conditions here continue to t i I improve according to the statements of the leading bankers |