The Wheeling daily intelligencer. [volume] (Wheeling, W. Va.) 1865-1903, 1875-12-10

n,IKlNG IN NEW YORK.
vouk that Pays 100 Per Cent
~ n blends Some Other hanks.

Dl,idcndN -sOIAe UtNe nAS'
w. correspondence Cincinnati GaIcstGI
vt r., Chemical Bank is the luckiCst
-. '' moi only in this city, but in the
y4r, Thi. is taking broad sketch,
'.'" Too extensive. Let our readers
'-' , 1n tho most lucrative Of such
,-l .|,ions within the range of their ac-
''" .,,,rcc. They will admit that any
'.'g.Wbicl. pays 10 per cent per annum
I--N rsry we'll. 1t is not common to find
l-s' oor tha, doubles these figures, yet
"! Ds an, .ome Of this distinction. Fifty
we, ,,rt per anuum is an almost unheard
F,EyiIenL that Is Of regular occurrence.
~ ri |'rbrmical, however, does better than
it ~. ,hc.e figures. Its regular divi-
ior some years is 100 per cent per
.,. .'n,. az in other words, every one that
rr, .hare which costs SlOO) receives
s1I ,apually ms his share OF the banks
f,, Thcexplanation Of this is found
,Ge i,rt that the bank Is doing an I'M
" ~, m.inr,. on small capital, Let
- -'' for instance, at the Bank OF Com
.,.,c, whose capital is about SIC, 900, 900.
T.. Jgpo.i. are about the same as those
Ir Chemical Bank, which is only
:imOd0. Hence the owners Of the last
',o,,ioorl obtain AZ much profit rs the
"[rsr, Of SlO,OOO,OOO OF the other stock.
TF,,rbolthr-c banks have about S., 100000
law interest. This is very nice
~igs isr the big bank, but how much bet
pr if the other?
w. T6c Chemical Manufacturing Works
we're Incorporated SO years ago, with
Io69 Ma.on as President, The capital
w.. 100000 for the Chemical Works,
,rl 100000 ior banking. The manuiaG-
m,joi chemicals was begun far up town
f,iil not prove profitable, and, though
III, va. the chief object ofthe enterprise,
' Az, abandoned. The bank was opened
lawn town, and John Mason was PrGsi.
lent. with John q. Jones rs cashier. The |
hank did a very satisfactory business,
,Lnn,h II reached no brilliant results I'M
III sicr Mr.. Ma8on's death, which occur
MI in l,iO Since then It has been in
erel,iag in reputation and credit. Bust
re. ma. increased and capitalists have
wl,ht il a, secure place Of deposit, In
M, way the profits have grown in a
,,cnIy proportion until regular divi-
bend Of loo per cent is now declared.
There are no large stockholders, the
shares being divided among fortunate
circle. The quotations Of value are about
sl,jO per share, and there ia q standing
ofttoiSl 800 from man who,,nO doubt,
eIpectlo see reach the value Of $4,000,
I have seen lls quotations gradually nd.
yance, and when $500 was the figure l
though, it enormous. Since then sales
we're made at $1,000, and at last at the
above mentioned figures.
4, T, Stewart is one Of the fortunate
,Ipkhollvr, in the Chemical Bank, which
enjoy. large part Of his deposits. Mr..
stewart always has large balance, and
a iew such men would carry n bank on
their shoulders. James LenOx Is another
,,ot.hoIler and depOsitOr. lie has not
desired any prominence in the manage
mcnt but his nephew, Robert Lenox
Remedy, il one Of the directors. Mr..
L.aoy keep, large balance, and Is q
df.tca,, dcpositor. Commodore Van.
defbilt keeps his railroad funds here,
and this il a very valuable resource. All
large claim, against the Central, Hudson,
or Harlem Roads are paid by checks on
the Chemical. The reason why these
'oIid men cluster around this institution
|, because it il conducted on old.fashion.
ed principles, II is safe.
HOW TO USE DEPOSITS.
The Chemical Bank has enough money
to discount all the good paper offered by
its dealers, and then it purchases large
amount Of paper in the street. This Is
done through brokers, who are paid u
commissioned Of per cent. The traf-
fc in commercial paper is immense, and
probably the sales equal 100000 q
week. The banks purchase freely in or.
Ilcrtokccpthcir IloaIingcapital employed,
and, As the rates are from 7 to 10 per
cent per annum, the trailici is highly prof.
liable. The excess Of interest forms a
fund to provide against losses.
The widely prevailing rOttenGss Of the
banking system in this city Is enough to
alarm all who value the security Of their
deposits. A list Of the banks which have
been plnndefedby their own directors Ia
indeed startling. In this lisL mny be