New-York tribune., 1897-07-11
THE FINANCIAL OUTLOOK.
SHOWING OF THE BANK sTATEMENT-TIiE VAN
DERBILTs AND IEHIGH VALLEY.

SHOWING OF THE BANK sTATEMENT-THE VAN
DERBILrs AND LEIIGH VALLEY.
The bank statemen; yesterday showed further
Increase In loans and deposits. although not SO
large a one az the week before. The deposits in
the associated banks s1,.GS25o. against SOB,
4ss 100 year ago. and the loans arc s'3s,'6lao,
agains, s477l52 400 last year. The banks hold $4,000
In gold The general financial outlook shows a
constant Improvement. There is an abundance OF
money for business development. There have been
reports that some Of the trust companies were 10
increase the- rate of interes, on depositors bal
ances and on special accounts. As fact. 1t Is
stated there has In the last ten weeks been only
one chang, by n trust company. and that was re-
duction Few trus. company deposits carry more
than | per cent interes. except special arrange
ment.
A little uncertainty has developed in the foreign
exchange mark,, by reason OF the expected mes
sage from the President on the currency question.
The opening OF a discussion this subject. while
not unse;tlng is likely 10 induce people TO defer
transactions 10 some extent pending developments.
THIS Is particularly true in international dealings.
Tho exchange market has been extremely narrow
for a week or two While cotton bills have not
yet come on the market TO any extent. 1t will not
be long before they Offering in large numbers.
Whea. bills representing the new crop. will soon
appear in a food for the surplus yield is sure 10
find an early and quick sale abroad. Almost every
day brings trustworthy information of damage and
shortage OF crops abroad and Improvement AT home.
1t t. known that the winter whea crop already har-
vested In Texas Kansas and the Indian Territory is
ahead Of the hghest estimates OF month ago.
The reports on spring wheat practically all that
could be asked for. The outlook IL for larger
eyportabe surplus OF wheat than heretofore counted
upon
II is within the bounds OF possibility tha; the
Lchph Valley Railroad will be turned to the
Vanderbilts but 1t Is certain tina, they have not as
reported. been buying Lehigh Valley stock in the
open market Such a move would not be necessary
I'm acquiring control. The control OF the property
is now In the hands OF ]. Perpont Morgan. what
ia the samcthing Drexe & Co.. Of Philadelphia.
by Drexel Co lent 2.750.DO TO the Packer estate
(the dominating power In the Lehgh Valley and
Is OpD 900 to the Lehigh Valley itself They further
more agreed 10 extend at per cent 100000 of the
Iehigh Valleys bonds falling due In 1898. In re-
turn i)rexel Co received collateral trust bonds at
a price. "A commission for extending the 1898 bonds
and a cali on the Packer estate stock with the
voting power The cali on the Packer stock
would enable Drexc & Co. to deliver the Lchgh
Valley 10 the Vanderbits. 1t is something worth
noting that the capitalization OF the Lehgh Valley.
the Delaware Lacka wanna and Western Railroad
Identical The capitalization IL: Lehgh Valley,
SIP 7s 100: New-Jersey Central Sis 55.6O; Licka
wanna slOG $1,000 The Lehigh Valley carries al
mosi twice as much coal as the New-Jersey Central.
Coal Yields 4e per cent Of the Lehigh Valleys earn,
ings 4pb per cent OF the New-Jcrsey Ccntral's and
W. per cent OF the Lackawannss The Lehgh
valley would give TO the Nandcrb.lts an important
hold on the coal trade which th6y do not now pos
cess and which they are supposed 10 desire. Be
sides the road would furnish them with good line