The herald., 1897-09-09

Loans and Individual
Date Discounts. Deposits.
May 4, 1893. 161, ,4O1, ,S5S s1,749, $50 SIT
May 4, 1S94....... 1926. CSC. S24 1870 O95S, 1853
May Z. 1895. 1876. COL AS 1,69O 96l, 299
May 7, 1896. 1870, ,09s, 1893 1,6S7 629.5 515
May IA, 1897. 1923, S65, 500 1,72S0S3,97l
July %, 1871. 1966, ,S91. 500 1,770, ,4S0, 565
The total specie in the hands of the banks
Is s240. COL.
While the loans are not up to highest
previous point, the total resources OF the
banks are now greater than they ever
we're. The resources amount to So, 563 40S.-
49, This is due to the great expansion of
Individual deposits, which have never been
exceeded. Taking it all in all, the national
banks were never in a better position to
supply the wants of their customers. This
S probably true of the whole banking sys-
:em, for the plethora of funds is feature
Of the condition of the state and private
banks also.
And now we are to have bicycle tube
combination. A London dispatch says that
IN agreement has been reached between
The leading bicycle tube makers of Br-
mingham and America, by which no one
will be supplied under fixed price. The
organizers claim that every tube maker
will be compelled to join.
+ +
The London Financial News says the
French cabinet is considering floating a
loan of 5000 900 (sSOO, ,OOO oOO) in 21b per
sent bonds, partly for the redemption of
The floating debt and partly for the recon-
Itruction of the French navy.
4 \ \
The entrance of decree of foreclosure
bale against the Oregon Improvement
company is taken as an indication that
the affairs of the company will shortly
be brought to definite head. The net
Earnings of the company for the year end
ing November 80, 1897, will be something
like s527OOo. Under the Waterbury plan of
reorganization the fixed charges will be
b25O0OO, thus leaving a balance of $277 900
with which to pay per cent on the $5 OO0, 900
Of new preferred stock. This payment
amounts to 100000, and the surplus of
H7,OO0 will approximate / per cent on the
common stock. Under the Ralston plan
the fixed charges for the first eighteen
months are the same as in the other plan,
but the payments ahead of the common
stock amount to $275,OOO, leaving but a
nominal surplus for that security.
\ \
The New Jersey Paper Board and Wall
Paper Manufacturing company has been
Incorporated with an authorized capital of
$1,000, and has secured an extensive plant
1t Camden, N. ]. 1t will issue 1000 shares
pf its capital stock at par, of $50 per share.
1t Is reported that a syndicate of French
capitalists has secured the Cleveland Ma
chine Screw company, one of the biggest
concerns of its kind in the United States.
The new company will have a capital of
$1,000, 900.
Chicago people, says the Economist, have
shadowy knowledge of an issue of 81, ,500 =
N0 per cent second mortgage bonds of the
Peoples Gas Light and Coke company,
Sold In London some years ago. 1t used to
be believed that the gas company never re-
ceived anything for these bonds, but that
certain promoters got moneys that did not
belong to them. The bonds We're sold to
the London people at 10 and are now being
Bold back at ITO. This is one of the times
when the Englishman wins.
4 \ 4
Washington dispatch says: "For the
first time in the history of trade relations
with Japan the United States is serious
competitor with Europe. A recent British
report from the legation at Toxic reviews
the foreign trade of Japan the past year.
In the supply of machinery. rails, nails and
pig iron the United States assumed q lead
Ing place. The British representative
pointed out that American railway engine
builders were likely to receive large orders
during the present year. An unusual de-
mand for metals, textiles and raw mate
rials is noted. Our own official statistics
sustain the report of the British representa-
tive, the Treasury departments figures
showing that our exports to Japan have
risen from s3,2SS.2S2 in 1892 to s1S 2SS, $40 for
the fiscal year just closed. The increase
over 1896 amounts to about $500, 900. The
increase was mainly in cotton and manu-
factures of cotton, manufactures of iron
and steel, including machinery, refined
mineral oil, manufactured tobacco, luni-
Der and wheat flour. The increase in our
manufactures of iron and steel and in raw
cotton is especially noticeable. This table
United States to Japan of the articles men
toned:
1892. 1894. 1897
Wheat flour....... s179,246 $211,579 $S19, ,62O
Cotton ............. 1S2,729 60,492 2,345, ,O16
ala ~ ocI