Pittsburg dispatch. [volume] (Pittsburg [Pa.]) 1880-1923, 1889-12-05
THE LAWRENCE BANK
Depositors Assured of 50 to rs Per
Cent, and May Get Everything.
THE OPINION OF AN IESIDER'
Causes of Depression in Local Securities,
and Reasons for Revival.
RAILROADS LEAD THE PROCESSION.

1t turns out that the report that the Treas
urer of the German Lutheran Church, at
Bloomfield, who died few days ago, had
considerable amount of his own and church
funds in the Lawrence Bank at the time OF
the failure, is untrue; and consequently he
did not die of trouble over his loss, as he
sustained none.
In this connection it was sscertained yes
terday from gentleman who is very close
to President Young, that if reasonable time
be given the assignee, or receiver, to
realize on the assets of the bank, de-
positors viii receive not less than 30
and probably 70 per cent OF their
claims. This much the gentleman said, is
certain, ana there is good ground for hope that
ultimately the entire amount of deposits Will
| be returned.
There is no war on any of the local stocks
no organized raid-no change in conditions of
an adverse character to weaken confidence in
their earning capacity-and yet they are both
weak and inactive, except by spells. There is
no regular demand for them that amounts to
| anything. Investors stand aside and watch
the little ups and downs of the market as coolly
and disinterestedly as they would an auction
sale of old Junk
The reasons for this apathy are to be sought
outside of the securities themselves 1t cannot
be denied that however abundant moneymay
| be for commercial and manufacturing pur-
poses, it is scarce for speculation. There is
considerable difficulty in getting stocks carried.
| This discourages business. Another reason is
found in the fact that yearly settlements must
| soon be made, and investors want to know ex-
| actly how they stand financially before engag-
ing in fresh ventures. The uncertainty of Con-
gressional legislation on financial and other
| questions affecting speculative securities is
another cause for hesitation. Any and all of
these reasons sufficiently explain the apathy in
the local stock market, irrespective of condi-
| tions.
| That there will be q revival OF business early
in the coming year is as certain as anything
can be. There is nothing against it. The trac-
tion roads are good property, and when once fully
| launched must make big earnings. The rapid
settlement of the districts through which they
| pass assures them Of large patronage. The
| Westinghouse properties are among the most
valuable in tie country, and must increase in
| popularity. Bank, insurance and bridge stocks
are on solid foundation. The free bridge agi-
tation should be considered an element Of
strength rather than of weakness.
Leaving natural gas stocks out of the ques-
| tion, and putting no estimate upon their in
trinsic value, present or prospective. local
| securities are among the best in the market,
and ought to command the confidence Of in
vestors. That they will rally from the de-
preston of the last few months and regain
their old-time spirit and activity, cannot be
doubted.
The travelling public will be the gamer by
the recent close traffic arrangement established
between the Northwestern and Union Pacific
Railroads. Already fast limited mail train
has been put on this route from Chicago to
Portland and San Francisco, reducing the time
from Chicago to Portland to SO hours, and to
San Francisco to IS, reduction of seven hours
on the former and full half day on the latter.
A similar reduction in time is to be made on
east-bound passengers and mails. There is no
doubt that eventually it is the intention of the
Vanderbilts by this new combination to run
through fast trains from New York to San
Francisco and Portland without change. The
passenger bound around the world can then
step from his ocean steamer in New York. take
the elevated railroad to the Grand Central
station, enter his Wagner palace car, and in ~
days find himself on the Pacific coast. ready to
take his steamship for China. This is won
derfully fast age, and American railroads are
keeping up with the procession.
h. s. Skinner, of South Carolina, thinks
cotton growers should be protected as well as
cotton manufacturers, to accomplish which he
has devised a novel and ingenious plan. 1t is
as follows: Let part of the Treasury surplus
be expended in building cotton warehouses at
convenient points in the South. Let the Govern
ment say to the cotton planter, If manufac-
turers will not pay you I3 cents pound bring
your cotton to the warehouse, and on strict
and proper grading you shall receive ware
house receipts suppose 1 term them cotton
certificates in analogy to gold and silver GER
tificates), at the rate Of IA cents a pound for
standard grade. You must pay the warehouse
a fee of cent a pound to cover all expenses,
costs and risks
These certificates could be issued for 10
100 and 1,000-pound lots ana be made negO-
table. II say IA cents because this adds the l
penny the Government has received to the
price the cotton could be purchased for before
entering the warehouse. If large part of the
crop should pass through these warehouses tn
revenue would leave a handsome profit to the
Treasury after payinga all expenses) These GER
tiicates would be the same as cash to the
planter for all purposes, for they would be ac-
cepted by everyone as readily as are gold and
silver certificates. These are general sugges-
tions only, but they form the basis of plan |
that can be perfected in detail by proper legis-
lation."
st. Joseph. No., is one of the growing cities |
of the country. 1t is charmingly situated on |
the east bank Of the Missouri river, almost in |
the exact center Of the United States and is |
surrounded by a country exceptionally rich |
and productive. 1t has population of 1000.
Fourteen great railroads enter the city, repre-
senting total mileage of SO, $50 miles, and 9S |
passenger trains pass in and out of the Union
depot daily. The wholesale trade of st. Joseph |
reaches the astounding figure of Sll0 600, 900 per
year. There are seven banks, with total assets I
of 81, $50.
Although well and favorably known as an ex-
excellent manufacturing center, st. Joseph
offers unusual inducements to capitalists in
this direction. Quite hog-packing interest
is already centered there, one concern consum-
ing from LOCO to 1000 hogs daily, to which must
be added three other packing houses which
have been in operation over 20 years. Very ex-
tensive stock yards are located some two miles
south Of the city,
STOCKS MORE ACTIVE.