| Show The Bank Statement New tw York Sept 16 The statement of or averages of ot the clearing house bO e banks or of orthis this city fer far the week follows Loans Lons I decrease Depo Deposits Deposits ta 4 X decrease d Circulation Increase Legal tenders decrease decre 2 III ro 1 Specie SIe decrease ase haele U GOO decrease i 74 7 R Reserve required tOO decrease 77 surplus decrease Ex x United States deposit ita de decrease decrease decrease crease 1 4 50 The Financier says this thin week Last weeks weaks and the weeks official statement of ot the New Nev York hank benka were most remarkable exhibits for tor they tb y Illustrated the ability of ot man managers mana agers a of the time larger banks to meet what may be b regarded as threatening situ situa situations a in a R manner as to avoid a II crisis In the week ending Sept 9 and again last week the heavy loss lo of cash due to operations and to the drain of ot money to the tile Interior seemed to tomake tomake tomake make it probable that the surplus re reserves ree serves e would be bit wiped out The bank managers were equal to the emergency en n the first occasion and an the loans loais were nere contracted by an amount unprecedented IB i the history of ot the institutions and suf nut sufficiently largo to contribute to a R reduction reduction tion in iU deposits deH and consequently in ill re reserve reHI reserve serve HI requirements so that the decrease in the surplus was uniformly small and the statement nt showed a fair fall working bal bi balance balance ance Last week an aU extinction of the surplus was again threatened the pre preliminary preliminary preliminary estimates Indicating a loss ios of or cash cub even Q n greater than t tue previous week The rh bank managers through a heavy contraction in loans loana thereby reducing deposits and reserve requirements r brought br about an almost de decrease deI deI I crease in the surplus and the statement I I I again showed a good balance balan e I if It would seem that there must have been I more or less lea concerted action by b the bank managers on both these occasions to have contributed to these remarkable results and if It there was such an action there ap appeals appears pears peals to be a possibility that thiat in future when tense situations develop similar concerns may be relied up to avert a crIsis The loans of ot the banks were con contracted contracted contracted last week by making with the reduction n of or the tie previous week IL Cl IKS in the fortnight and ane compared compare with the maximum of the year rear which was recorded rd Aug 5 6 The cash loss 1088 last week was making 1312 for the fortnight and anda I a since Aug B 6 the loss last week M 5 in the previous week was wall largely due to operations and to direct shipments of ot money to the interior iMe Il e general deposits de were reduced making malting a tote tola of for the fort fortnight fortnight fortnight night and S1 since Aug 5 5 Through lag lai weeks decrease In general deposits depo tha reserve requirements diminished diminish 57 7 t which sum suni deducted from the loss Iou of ot cash eash left as the reduction In surplus reserve to 46 Computed UBan the basis of ot deposits less lees s tho those tho e of or public funds the surplus is te 96 sc w Tit The statement made a good WOOf roof the aum of ot the tIM contraction in loans and the fog 1058 of cash h being only onty smaller than the decrease in deposits e |
