The Scranton tribune. [volume] (Scranton, Pa.) 1891-1910, 1896-04-08
THE WORLD or BUSINESS
BUSINESS BREvIrlEs..


BUSINESS BREVlTlES.
THE CONDITION OF NATIONAL
BANKS.-The resources Of the Nation
al banks Of the United States are shown
In the last abstract Of their condition.
completed March 81. as Of Feb. 2s. and
made public by Comptroller Eckels.
The $500 National banks had on Feb.
2S. $1,s51. .s4l,7 ,7s1 in loans and discounts.
$192. .036, ,S33 In stocks and securities, a
lawful money reserve Of $S37 ,25S, ,922. OF
which $156, ,O00, 900 was in. gold. capital
to the extent of $685., 3,99i.9l5. surplus
fund Of $247, ,l7S,1 1SS. undivided profits OF
$S7. .041. 526, unpaid dividends deposits Of
$l.S+S. .092,s6s. and bills payable of $20,-
1O4.68
-
THE WOOL MARKET.-The Amer
lean wool markets have almost ceased
to exist. The sales at the three chief
cities for the past week have been only
2,926.7 pounds. against 5.22S.S00 last
year, and In four weeks Of March only
12.S24. $50 pounds. of which 6.596,S00 Were
foreign. against 1S.946.200 pounds in
1895. Of which II. .3S7. 800 were foreign.
and 21.sS4,576 in 1892. OF which 14.s7s,-
SIG were foreign.
DEMOCRATIC TIMES.-The first
quarter Of 1896 presents the largest list
Of actual commercial and industrial
failures In business in the United
States. those in which liabilities ex-
ceed assets, ever reported for like
period. The total Uncluding financial
institutions) Is 4,512, or 700 more than
In a like portion Of 1895. 543 more than
In 1894, ard ]. 1.443 more than In the first
quarter Of 1893. increases Of 1911 and Of
Al per cent, respectively. The largest
preceding like total 1850 was reported
In 1855. Liabilities Of those falling this
year amount to 62,513,000. an increase
Of 30 per cent. as compared with a year
ago. % per cent. as compared with the
first quarter of 1894, and GO per cent.
as contrasted with three years ago.
-
SILVER COINAGE.-The issue of
standard silver dollars from the mints
and treasury offices for the week end
ing April was $316.399, and for the
corresponding period last year was
$341.119 The shipment Of fractional
silver coin for the month Of March was
$G9S.2A4. and for the corresponding per-
iod last year was S7?9.553; from April
l to 1t aggregated s97.5ss.
-
BROAD TOP COAL TONNAGE
The Huntingdon and Broad Top rail-
road reports coal tonnage for the past
week amounting TO 53F5S tons, an In
crease over the same week last year of
5,39S tons; total for the year to date.
543, $40 tons. an Increase Of 81 ,067 tons.
THE COAL SITUATION.-"Not In
years." says the Stakeholder. has the
n nj h vo III 20 anal do hocp nnar 4,
| unit in the matter of restriction ard
the maintenance Of prices as at pres
ent. Those familiar with the quibbling
unhanded methods. broken promises
and the like, characteristic of the trade
| for years, well understand the present
| condition Is not the result Of change OF
heart among the interests, but due d.
rectly to a control by a central body
| February and March are usually the
dullest months of the season, owing to
| the hand-to-nouth policy that general
ly rules and the total absence Of the
stocking demand. The fact that th'
| interests have been passable through
these periods strictly adherinG to theii
| agreement is the best evidence that
when trade becomes better. as will be
| the case when navigation on the lakes
and canals opens. they will reap theil
|
deep seated that on May prices will
be 25 cents per ton higher than they
are at present. Even now. on basis
Of $500 for stove coal. New York har-
| Dor. net, they are IS cents per tor
above the averages Of the month OF
April, 1895. The average Of the sue
ceeding month Of 1898 decreased. SC
that II the price Is advanced May !
as expected. II will be $685. net. com.
pared with 81, the average In May
1895, or an increase Of IS cents per ton
The interests can well afford to lose
tonnage In order to establish gains as
large as these. If the advance Is made
by May. there Is no question that 1t vii
be followed by other advances as ths
demand increases during the summer
and early fall until stove coal is pu
on a. basis OF s4.25 net. 1t is extremely
improbable that higher figures will h,
sought. and 1t is likely that 81 net viii
be the figure the combination will seel
to obtain as an average for the twelve
months business. This Is high enough
to return good profits. but not suffic
iently high to stimulate production oi
the part Of independents. as was tn,
case during the Mcleod regime, wher
the price was run up to nearly $3.50
and kept between that figure ard $4.5
during November and December o
1892. and January and February o
1893"
CHEAPNESS OF POTATOES.-"Po
tatces are fully 40 per cent. cheape
now." said leading receiver to New
York Tribune reporter. than thew ver'
on the corresponding date of last year
This Is on account Of the enormous
crop Of 1895. which Is estimated a
1000, 900 bushels. The average annue
crop Is about 2S5. loco. 900 bushels. ard tn
difference between it ard the last crol
shows that there are $4,000, 900 bushels
In excess of ordinary requirements
This great surplus has entirely cut of
importation and there are no foreigl
potatoes In the market. The duty OF
foreign potatoes is Is cents a bushel
and the freight ranges from six to tel
cents o bushel, so that in view of tn
extremely low prices of domestic pota
toes foreign potatoes could not be hand
led here except at a large loss. This
CT course, does not include new Havan,
and Bermuda potatoes, which are nov
coming In and being sold for from s4.5
to $3.50 O barrel for Havanas. No.
Bermuda selling for from s. to Sc
barrel, and No. 2s from 50 to "a a bar
| ,al