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Newspaper
New York Times
Location
New York, New York, United States of America
Date
Jun 06, 1903
Page
32
The weekly Clearing House statement reports a broad decrease in reserves and deposits. Loans, specie, and legal tenders all fell, with total deposits down sharply, reflecting gold exports and trust company withdrawals alongside heavy market liquidations.
A table details surplus reserve amounts held by Clearing House banks at the end of each week this year and dates in 1902 and 1901. The figures list weekly totals such as 10,195,850 and 7,515,575 with various large sums across 1902, 1901, and 1900, along with a second table projecting surplus from the present date to year-end 1902 and beyond.
Aggregate weekly exchanges and balances of the New York Clearing House over a year show totals in the millions. The data lists numerous figures including line items like 87,576,004 and 78,435,680 with varying decimals and month-end strokes. Five days
Merger of garbled lines references imports to New York from May 2 to June 5. Mentions a steamer and several dubious ship names with partial identifiers such as Dona Mara and Dominica. Data are incomplete and unclear but indicate routine shipping movement and origin listings without clear outcomes.
A June export table shows gold bars sent to Paris as bills proved scarce. Weakening sterling fears grew after Friday’s 487% rate. bankers weighed next week’s gold shipments and potential triangular operations to cover maturing obligations.
The Clearing House figures telegraphed to The Financial Chronicle show weekly totals for major cities including New York Boston Philadelphia Chicago St. Louis and New Orleans with seven city five day totals and all city totals for the week. The all cities five day total is 1 900 179 25 for 1903 and 1 740 250 75 for 1902 while the single day totals reach 304 287 461 for all cities in 1903 and 352 506 349 for 1902.
The money market tightens as sterling loans resume amid higher call money and time rates. Six months' money reached 5 1 2 percent, stirring foreign bankers to borrow via sterling, with loan bills entering the market and briefly depressing sterling to 487 1 2 before a quick rally to 487 0 5. The Monday open follows the prior week's adjustments.
London silver at 24d per ounce and New York at 33c. Mexican dollars at 2 cents each. On the Consolidated Exchange Andconda Gold 1,000 shares at .17 .14, Brunswick 100 at 664 ldo, K and N at 30, Hern Silver at 1.2, Mexican Central 1.15, Pharmacist 1, Portland 200 at 1.00, Quicksilver preferred at 6.1.
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