The herald., 1897-05-25


comparison Of this showing with that
made as Of April 8. 1897, which will be found
in extenso in the Heralds Investor column
of the goth ult.. shows gain in deposits
of $225. $3.50 and an increase in total re-
sources of $192. .9S0.70. This increase has
been made in the face Of heavy withdraw
ais for the payment of state. city and
county taxes. the second installment OF
which had to be paid in the interval.
The significance Of our expanding export
trade is the subject of a recent magazine
article written by Thomas A. Eddy. The
author refers particularly to the plan Of es-
tablishing an American international bank
and says ''Those who arc planning the cs-
tablishment Of a greas American in.erna-
tional bank, bill TO. which was intro
duced in the last congress, but never acted
upon, are doing piomcer work in a regicn
beset with difficulties; and IL they are
willing to incur the hazards they should
have whatever encOuragcincnt congre ss
can constitutionally give. They ask no
financial aid, but simply the grant of such
corporate powers and privileges as shall
enable them to make a beginning in COM
peting with the banks of Great Britain,
which are now practically the financial
agents Of the world. They propose the es-
adjustment Of O bank with headquarters
at Washington or New York and branches
In various foreign countries. as well as in
the principal cities Of the United States;
80 that 1t may no longer be necessary for
an American exporter to do his business
through London. the capital Of the con-
Germ is to be not less than s.. .006 6U0D TO start
with, with the privilege Of increasing 1t
to 81, 5,00O, 900.
svrbo cor,potttfor x,tt,h ,,,.l -.
prise would face is something terrific Leav-
ing out Of consideration the great banking
houses OF Paris, Berlin and other European
centers which handle a large amount of
international business, there are in London
alone no less than sixty Incorporated banks
engaged exclusively in international trans
actions and with capital five times as
great as that employed in all the banks of
New York. Abroad these London banks
have about seventeen hundred branches,
operated by agents speaking the language
ana long familiar with the people and the
varying customs and conditions of the
countries where located. The Incorporated
London banks are reinforced by private
bankers employing over SITS, 900 900 addi-
tionai capital In the same channels. It will
seen at once that manufacturers seeking
markets abroad must for awhile utilize this
immense English system in effecting their
exchanges and collections Only by slow
degrees. IL ever, could the proposed Amer
lean International bank, or a dozen like it,
take the place now so firmly held by our
BRUSH cousins The regaining Of our old
time ascendency in the ocean carrvinr
trade is an easy matter compared with the
establishment of financial institutions
wnich shall wrest even our own exchanges
from the hands which now control them"
= \ Y
At the San Francisco stock and bond
exchange Alaska Packers sold at o8 to
s6h Spring Valley Water at ssh, Hawaiian
Commercial at 1917 to 1sA. Hutchinson
riantation at 2. to 2las Giant Con. Powder
Railway per cents at 106a4 and Omnibus
Gable bonds at 1922.