New-York tribune., 1885-03-02
NOTES on INDUSTRY AND TRADE.

THE BANKS AND THE TREAsURY.-It is to be OBJ
served that while the specie reserves of the New
York banks remained substantially unchanged
last week the Treasury gained largely IN gold ana
considerably in silver. II holds $1,294,22f more
gold than il did on the 2Oth and has $703 16O less
cold erticates out a net gain of nearly two mill
ions in q week. effected without change OF
$50 900 III the average specie reserve reported DIV
the New-York banks. In silver the Treasury added
1892 61G to its useless pile. and put out SSo.s6O
more silver certificates. The weekly statement of
gold and currency received and shipped by the
principal banks, which The Financial Chronicle
published on Saturday. showed loss of $233,OOO
in gold by the banks and gain IN currency,
whereas the Treasury statement would also imply
n probabe loss of gold by the banks in that d.
rectIon and yet the weekly statement shows de-
crease of only $iS.i 400. Unless the banks have
begun TO report silver certificates as
specic-which they formerly were care
full not TO do-the returns can with
difficulty be reconciled with those from other
sources AZ the date of the last quarterly state
ment December 20, the National banks of this city
reported that they held only S75OOOO in silver,
and 81 276470 IN silver certificates, and there Is
no reason to suppose that there has been material
increase. But the other banks of the association,
not National, doubtless held some silver certifi-
Gates.
CoMPANY-MAKryG-An official British statement
shows that In 1884, Notwithstanding the stagna-
ton in all sorts of legitimate business, 1,2SO
new joint-stock companies were registered lin Lon
don with IA capital of $500, 100000, against
SG67 $50, 900 in 1883, 1892 l65. 600 in 1882, and
$3.50 22O 900 in 1881. Hero were companies with
a capital of nearly SO 000 900 600 created within
four years while for the preceding years the
total never exceeded Si25 600 900 in any year. and
sometimes was only half that amount 1t is little
remarkable that in this country, where SO large
part is played by corporate asso-
Citations no attempt made 10 obtain an
official record of the creation of new concerns The
laws of States differ widely that a complete
compilation from State records Is impossible, and
nobody seems to think it worth while for the Gen.
eral Government to know whether the power of
forming corporations is being abused or not
KANAwHA Coal MINERs.-The reported violence
attending the strike of miners in the kanawha coal
mines is not as surprising might be desired. For
wears there has been the likelihood Of an outbreak
in that quarter at any time whenever the owners
of mines were disposed or forced To take the man-
agement Of their property into their own hands
In the New River region colored miners have been
generally employed with whites for years. and
there have been no serious controversies, but the
themselves quito early. and at some mines sue
ceeded in debating the exclusion of colored men al
together; at others they excluded the use OF
cutting machines and at all where they
could thoy dictated wages, and insisted upon
higher rates than were paid elsewhere for mining
similar coal In order to compete In Western
markets in times Of depression, the owners were
forced TO have some power to determine what
wages they would pay. They recently proposed
reduction the struck and the mine owners
ndeayored to employ colored miners. ln conse-
ouenco there have been numerous fights, the mines
are guarded to prevent incendiarsm and the strik-
ers paraded in large numbers last Thursday.
SOUTHERN IRoy-MAKISG.-A committee on be-
half of Northern iron manufacturers has returned
from tour of Investigation in hem iron works.
aod Mr. Bentley of the OHIO Works, Youngstown,
reports that "A conservative estimate" of the cost
of n ton of iron at Birmingham, Alabama is from
Sl2 80 to S13 90; that is delivered ut the fur
naces nj 90 cents TO 81 II ton. and the pay OF
common laborer is 80 cents per day, with other
labor IN proportion But the difference In wages Is
more than compensated by tho greater efficiency OF
Northern labor and the quality of ore Is such that
the iron produced is generally of low grade. Inc
modes of treat ng the ore, so as to produce auhior
quality of iron he thinks have not yet been mas
tered but 1t is only aquestion of time and sooner
or later Birmn CHAM is destined to become very
important factor in the United States iron produc-
ton. The manufacture OF steel from the ore now
used he holds. is impractcable, but the demand Tor
the class of pig iron produced is large at the North
and the railroads transport from birmingham at
S3 rs Dor ton to New-York or Philadelphia and
about the same to Chicago.
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