The herald., 1897-11-14

Compared with the report of the
clearing house banks. first made Janu
ary %. 1897. or nine and one third months
ago. the following shows the gains in
that time:
Gain In loans ..................... .lG1 1873. "a
Increase in total cash liabilities. 9 1856 916. ~
Gain total resources and liabii-
lies 1858, 151 AZ
Cash reserve 4GlA per cent Of cash liabil-
ities
The Economist under date of the
9Th inst. has the following to say in re-
gard to the business situation:
AS expressed by the condition of the
New York stock market, to the huctua-
tions of which the public gives alto
gether too much attention. the tone of
business this week is not strong, but
when we look farther back, to those
elements which really go to make up
commercial life, we find substantially
the same facts that have been noted
heretofore with so much satisfaction.
Even the railroads, in which there is a
greater aggregation of capital than in
any other one interest Of this country,
they have made since the revival in
business began. 1t was not to be ex-
pected that the extraordinary earnings
which have been made in the best weeks
of the year would be kept up indefinitely,
but there is still an increase over last
year which If kept up will make the
period from June l, 1897. to June 80, 1895,
the most extraordinary in our history.
hot tI,A
business must be prospering, for it is
from all other interests that the rail-
road companies get their support.
Wholesalers Of the ordinary necessaries
of life continue to give cheerful reports
of their trade, and many Industrial con-
Germs are taxed to their utmost to fill
orders. Such complaints as there are
come mainly from the failure of certain
Kinds of goods to advance in price, but
30 long as wage workers get fairly good
compensation for their labor and can OBJ
tain the necessaries of life at prices far
below the average of modern times they
certainly have no cause for complaint.
Insurance
The Kentucky court of appeals held.
In the recent case Of the Mutual Life In
oui oHCC CoAIpdIy VI 1NcW DIX VS.. Jar
Doe ct al, that where an insurance pol
icy contains clause giving the assured
q right to paidup policy for q certain
amount, if he so elects. when three full
annual payments have been made, pro-
vided claim for the paid-up policy is
made within six months after his aban-
donment Of his other benefits under the
sa1ne contract, the mere fact that such
paid-up policy was not demanded within
the six months referred to was no de-
fense or reason why the company should
not issue the paidup policy, it appear
Ing that the company's rights could not
De any more affected by the issuance of
the paid-up policy when it was in fact
demanded than If it had been demanded
within the six months.
+ 4 =
The New Era Life Association of
-Grand Rapids. Mich, has been licensed.
and 1t Is said to mark a new era" in
life insurance fields in fact as well as
name. 1t Is a fraternal beneficiary
without the lodge"-that is there will
be no goat burlesque Invitations. It
may ride the goat to the receiyership
later on, and there will be no burlasoue
apout that either. A thousand dollar
policy VIII cost fifty cents a month. The
officers are: President. Alfred o. Gro
zier; vice. presidents, Charles b. Kel-
sey, Melvin B. Church, and Rev. Dan y
Bradley: general manager. Charles n