Pittsburg dispatch. [volume] (Pittsburg [Pa.]) 1880-1923, 1891-12-19

| of the wreck" in PENNSYLVANIA.
! A Seattle paper of recent date gives Pitts
burg some comfort in this:
Superintendent Porter's visit to this por-
tion of the country has firmly impressed him
with the great possibilities of this PUGET
Sound region rs an iron producing center. HIS
prediction is that the three future centers or
iron manufacture in the United states VIII
mingham, East Tennessee and North Caro-
lima in the South, and the Pittsburg region
in the North.
Labor Not Protected.
When you ask why labor is not booming
in tie cities, perhaps this from the Seattle
Post Intelhgenca,, might throw some light
upon it:
The beginning of the construction OF plast
furnaces and the operation OF machine
shops, pattern shops and foundry OF the
Great Western Iron and Steel Works
of few days. Another ship, the
King Malcolm, arrived yesterday from
Maryport, England, with 1000 tons OF
fire brick to be used with the former cargo
in the construction of the first blast furnace
and the hot air stoves, and will discharge az
the Seattle, Lake Shore and Eastern Rallroao
coal bunkers at Smiths Cove.
And this while the American brick
makers Of Seattle, are standing aronnd walt
ing tor something TO turn up!
Profitable Banking on the slope.
Banking In most towns in Oregon and
Washington is an exceedingly profitable
business as the ordinary loan rate is 10 per
cent, and 2 per cent month is not an
unusual rate in the interior. Twenty-four
per cent is pretty good interest with first
class improved farms as collateral. In
Portland 10 to II per cent would be about
the rate while rp in Walla Walla "a to %
nav oopf Is roid aud M ouayti0Os asked.
The banks ordinarily pay to per cent for
deposits. Here is the prospectus of 6-per-
center:
Building and Savings Association Savings
Bank. Paid-up capital, 100000. Pioneer
savings institution of Tacoma. Six per cent
per annum. Credited quarterly-January
April, July and October. Mortgage loans
Long time and monthly installment.
Others offer what is called '1iberal
rate"-thus:
The Banking and Investment
Company. Paid-up capital, sl25 600; surplus,
$4,000 Liberal rate OF interest allowed on
monthly balances subject to check 40
deposited each month nets depositor 500 IN
two years. SIG 10 deposited monthly entities
depositor to $500 every year. Depos1tors
purchasing cooperative investment certif-
Gates receive per cent interest ana snare
profits.
Another Great Plan.
investment DduhtIs hcIc ohCi W w eeiiA
better and give an absolute guarantee, in
many instances 10 per cent, on plan where
one-half the profits above that are due to
the guarantor:
Guarantee, what is meant and what it
amounts to:
By our guarantee we are responsible to
our clients for every dollar invested through
US. together with interest. We first make
safe by properly executed notes and mort
cages in favor of the party for whom the
loan is made, and bearing our endorsed
guarantee, or for investors the title to the
property bought is placed in the name OF
the party providing the funds, and proper
contract is made showing our guarantee and
interest in the profits as agreed
1t amounts to your being protected against
loss of principal or interest, and to securing
our best judgment and services by reason
of our interest and liability.
This would seem to have the assurance of
a trust company with the profits of a SYM
dictate, and if practically successful ought TO
be very popular, as there is nothing so
inviting to investors as certainty and big
profits. Having somewhat hastily in these
letters outlined the attractive, as well as the
unattractive features of the Northwest, the
public are in a position to balance the ac-
count, and, to Judge of the fairness and ac-
curacy of my observations.
JAMES w. BREEN.