Birmingham age-herald., 1895-05-18

Clearings, S55, ,476.H; balances, S17,00147.
 An encouraging feature in the local bank ing business is the increase in savings de- posits. One banker informed the Age Herald man that he had recently booked 200 new accounts in this department. Other banks report gratifying increases. This in- dicates that the working peaple of this dis trict have employment at remuneratve wages, and are laying by something for . rainy day.
 As an indication of the better feeling which perVades the community leading broker in stocks and bonds stated today that his business has been better this month than for any month in the past five years. The inquiry is for investment rather than speculation Gilt-edged securities bonds which meet their interest right along and stocks which pay dividends-are in demand. There is no inquiry for anything else. The local securities mostly traded in at present are Sloss Iron and Steel com pany first mortgages; Birmingham Water Works first and second mortgages and Elyton per cents.
 Tennessee Coal, Iron and Railroad was very active on the New York stock ex- change today, reaching 26 and closing at 25B. There was a good deal of excite ment on the local board and rumors were afioat as to heavy sales of iron in this district recently at advanced prices. To obtain something authoritative, the Age Herald man called on Treasurer Bowron of the Tennessee Coal, Iron and Railroad com pany. In the course of the conversation MT. Bowron said:
 "There is nothing especial in the condi- tion of the iron market to cause any sud- den movement in quotations of stocks attribute the movement in New York en- tirely to the better feeling arising from the restoration of confidence on the part of English investors, owing to the growing sentiment against debasing currency.
 'The past ten days have witnessed the sale of at least $15 COG, 900 of bonds and l5O- GOO shares of stock to London; and this movement will continue, rehabilitating the values in this country in proportion to the assurance that we will act honestly with our creditors and pay them principal and interest in the same gold which they have sent over here, or its actual, logical equiv alent
 ''The condition of the iron market is hope ful and encouraging. and may be called firm but there is no justification for ex- travagant statements. The actual figures Supplied to the Iron Age show that about S,0O0 tons more iron were consumed in April than were produced. In the west there has been a greater advancing ten- dency than in the east, but it must be re- membered that all producers are loaded down with orders at bottom figures, which will require three or four months to exc cute.
 "The tendency, however, is toward i'm pavement which may become substantial if we have good crops and no new finan- cial complications.
 The shrinkage in values of Birmingham pig iron since September l. 1S9i to the lowest point was s1 per ton, of which one half has since been recovered in quota tions now being made. leaving present quo tations 50 cents per ton below those exist ing last fall at the time of the settlement and adjustment of the unfortunate labor troubles which then prevailed