, 1889-07-20

makes up the difference by the small
amount he has TO write off for bad debts.
Capital is less concentrated, but it is lar
ger and more widespread. The ruling
classes are not so wealthy, but the middle
and lower classes are generally more pros
porous throughout the Island, importa-
tons are yearly increasing, while the
revenue has shown, during the last fnan-
cial year, a most. comforting sign of elias
ITCHY. This general prosperity is, of
course greatly owing to the remunerative
prices at which orr leading products have
ruled during the past twelve months.
i. More especially il this the case with coffee
and logwOod, while sugar itself has for
nOme mouths past made the heart OF the
planter rejoice over his excellent crops.
The fruit trade has lhriven, and prices
throughout the season have ruled high.
Willie this favourable condition of our
products in the worlds markets has had
q marked influence on our prosperity, this
Is in no small .degree owing to improve
ment in the method of doing business, an
honest desire to restrict expenses within
the amount Of the earnings, and the more
wise and more enlightened manner in
which bank er'S accOmmod alton has been
!, given by the Manager of the Colonial
Bank. Rates of discount outside the
Dhtlk udN0 IHlIChs q WI OISb VI a. pOCtCA
feeling throughout the c,untry and a proof
of one or both of two things, that money
il much easier and that the bank is now
doing business which was previously done
by private bill dIAcOuntcrs. This tenden,
cy of the hank to widen its sphere of
operations on q more liberal system than
has heretofore obtained in this old,
wealthy and conservative corporation, has
recently been emphasized by the an
polncrmpnt that after July LIST OF this
wear the Bank rate of discount would be
reduced to six per Cent. While this ~
evidence on the one hand that the Colonial
Bank is making efforts t. keep abreast
of the times, it also affords valuable teS-
timOuy to the Improvement Of CONNER
cini credit in the Island and the general
increase in the floating capital of The
mercantile community. That the number
of capitalists has increased largely that
many people find themselves i'll possession
of spare cash for which they are anxious
To And investments, b rs received striking
prcOf within the last few weeks. A new
local Marine Insurance Company was
quite recently started without the least
difficulty the shares being in good demand.
Another Company has just been started
With Ii capital of G2O,0OO to light King
StOn with Electricity, while the Kingston
GaS Commissioners new Loan, at 1 per
cent, of E3.0O0 vas applied for to the
extent of E3S,O0O, most Of 1t at ~ much
~ 2 per cent over par.
A glance at the Savings Bank Report
for the year ending in September laSt,
although, unfortunately nearly nine mouths
behind time 80 far as thu period reported
on is concerned, yet reveals u most salts
factory state of things.
Tie deposits for this period exceeded
those Of the previous year by $4,000 or
over IA per cent increase.
The present assets of the Savings Banks
amount to over e394,5O0.
In Kingston alone there were 682 more
depositers than in the previous year,
while the total increase over the whole
island amount to 1924 in the number of
depositors on a total of 1921. In the last
ten years the number OF accounts has ire
blafl.i Trf fn.
The returns from the Jamaica Railway
afford further evidence of increased pros
perity, the gross earnings having risen in
the twelve months from e55,646 up to
September last year to over $4,000 for the
corresponding period this year, calculating
for the same rate TO the end, OF next Sep
tember.
Altogether the general prospects are
most encouraging. and we might look
forward to assured prosperity in the
Futnro 1f our stanle industry could only