Show I S The Sank Bank an Statement New Neu York York Feb 7 The statement of I averages of the clearing clearing house banks bank of this city for the week shows Loans increase OO Deposits DeposIt increase Circulation decrease 1 Legal al tenders decrease decree I H Specie decrease 20 Reserve decrease SOO 00 Reserve required red In Increase i increase crease crese Surplus decrease States deposits deposIt decrease I J I The Financier r says S s The principal feature of the he statement of the asso associated asso associated banks baks of New York for the th I week ending Feb 7 was the te enor enormous enormous enormous increase of in loans the he largest weekly expansion sion reported in that tha item Iem for over a year The in increase increase increase crease Is traceable for the most part to heavy corporate borrowings the Pennsylvania loan which has ha been ad advanced advanced advanced largely through New York ac accounting accounting counting presumably for tor the greater gater portion of the indicated change The statement was affected unfavorably unfavorably unfavorably ably by the loss toss of in cash cah the first reported in some weeks This Thi loss lo was due to operations with wih the th s the payment of a Central Pacific note of o having in influenced the adverse balance against the banks Still unofficial calculations made the bank loss in cash cah for the week was not more than on total account or less than half that tat reported in the statement The system of averages used In compi ing lug the official weekly returns is 15 re ro responsible re for the discrepancy and the merger of two banks bank with wit a consequent increase In capital to explain the rest ret The increase of or 42 in de ile deposits deposits posits is much less les than the changes al ai already already ready noted would seem to call cl for As A A 1 1 It was however the addition additon to deposits called caled for lor 00 Increased reserve am and this coupled with hex the loss of cash cw reduced d the excess s reserve r f item o of the banks bank by b bringing the sur stir surplus surplus plus down to 1856 or very ver near nea th the point reported a year ago At this season last lat year er it i is interesting interest to recall recal the deposits of the banks passed the mark mark but passe while present deposits are 00 less loans loan are higher by 60 while the total tota cash reserve is nearly nely less S So Soar SoTer Tar Ter ar as the changes c ange of the past Dast week leek ar are concerned half a dozen of the larger larce banks seem to have contributed the prin prinCipal cipal gains gain and losses Taking the state statement statement statement ment as a a whole it will wU of or course coure be b called caled unfavorable and it is from front the borrowers borrowers standpoint More MorE important thai tha the temporary change of the cur current current current rent week Is the probable absorption by the treasurer of a large surplus to reduce circulation the decrease dEcease for the week in I New York having approximated 00 |