The herald., 1898-02-08

Total ACKNOWLEDGEMENTS. .Sl53. 435, ,496
The gross yield for 1897, shown above,
segregated approximately as follows: Gold,
455i, $780, $50 597; silver, PAPA, $37 1874 034; cop
per. 1885, $36 6645 694 lead, $751; &c. 775, ,144; to-
tai, s153. .4S5, 469
The years combined product OF the
the history of the country. that of gold,
$685. 597, being above any previous record
officially reported; and the worlds output
Of gold for r1ss7-approximately s24O. 900. 600
Is surprisingly large, and more than 10 per
cent greater than estimated by Mr.. Valen-
tine six months ago. The most notable in
creases have been In the British posses
sons Of the northwest. Australia. South
Africa, the United States and Mexico.
o o o
Since the first OF the year. says Brad
streets. the deposits of the New York
banks, as shown by the weekly statements
of averages have risen from s675, 900, 600 to
s7140Oo.OOO on last Saturday, with fur
ther considerable increase during the pres
ent week. Last weeks gain was no less
than s22.OoO,0OO, and while as is customary
during January. the amount of money held
in the banks here has been swollen by the
extensive treasury disbursements, sup
plemented by the redemption Of the re-
mainper OF the outstanding currency skies
the. above gain represents In the main the
beginning OF the movements OF funds from
the interior to New York. Considerable
attention has been paid to this glut OF
money in the New York market, and sew
eral incidents during the week have indi.
Gated an intention on the part OF the banks
to meet the situation.
Another interesting feature of the week
was the reduction by one of the large ma
tional banks or the interest allowed upon
certain lines OF deposits. This took the
form Of a notification from the institution
in question to the produce and other ex-
changes which deposit with 1t portions OF
the money put up as margin against trans
actions in futures that the interest al
lowed on such deposits would be credited
at the rate OF IN per cent, instead Of 2 per
gent, as heretofore. 1t is understood that
Similar action is contemplated by other
banks, and that the movement extends not
only to deposits OF this character, but to
the large and constantly increasing lines
of country-bank deposits which under ex.
listing circumstances constitute such dead
weight upon the money market.
Another of the beneficial and fraternal
societies has gone to the wall leaving its
beneficiaries to whistle to the wind for
their money. The Royal Benefit society.
of the city of New York, has made an as
signment after three years OF precarious
Observation-Disclosures, Sl0,607; assets, $7y A
year ago the company reported that its as
sets were $46.0O0 and that its receipts for
the year had been $4,000, of which nearly
$4,000 had gone for expenses. That set
tied the fate Of the company. After the ex-
penses were paid, there was little left for
the members.
1t is shown by the annual report OF the
Maine bank examiners, which was made
public within the week, that there are
fifty-one savings banks in the state, with
p capital OF $52, S26, ,3O3; sixteen trust COM
panies. capital S,5134lS; thirty-three loan
associations. capital $2,y2,9 $685. There is q
decrease OF four in the total number OF in
Ftitutions. and Notwithstanding this there
Is an increase OF S2,793, ,0S4 in the aggregate
amount ofassets during the period covered
by this report. They have paid depositors
and stockholders Sz,54U. 767. II In interest and
dividends during the year. The statement
shows an increase OF 4764 in the number OF
depositors and $2;l2l450.s0 in the amount OF
nearly
twice that for the preceding year. Out OF
total OF l67,S7s depositors, 1886 have s5O(
or less standing to the credit of each The
average amount now standing to the credit
OF depositors is $555.Ol, an increase OF 81. q.
over that of 1895. The amount of win.
drawals during the year was $40, 425. 5y7. 81
and the amount deposited, including divi
dends credited. s12.554, ,S5Y.S2.
o o O
Comparatively few people realize how
great Is the commercial Importance n,
grasses and clovers In relation to the nrotit.
able production of farm animals. SONS
information is given on this subject In J
farmers bulletin just issued, which deal,
with tho formation ana cultivation n,
meadows and pastures in the middle east.
ern states. The statistics gathered are in.
etructive 1t appears that the annual nro.
duction OF forage and fodder crops In the
states OF Pennsylvania, New Jersey DeIa.
ware. Maryland, Virginia, West viruinia
and North Carolina amounts to upwa I'd ~
2000O,00O tons, valued at fully sib0. ON mn
At least two-thirds or this amount is s,,n'
piled by the grasses, clovers COW meas
corn stover and ensilage produced upon the
farm. so that the subject of improves
methods OF cultivation and the selection NJ
the varieties best adapted to the soils ~
the region is OF great Importance to the
farmer. The farm stock in the states n
question. numbers ll,SSS,OOU head Of ali
classes. valued at Sill. .27S, 500, and they re-.
uulre for their sustenance the amount of
forage and fodder crops set forth above.
a still clearer idea Of the Importance OF tho
fub1ect may ne gathered from the fact that