The Worcester spy. [volume] (Worcester, Mass.) 1898-1904, 1899-09-30


4 per cent at beginning of week. ster-
ling exchange is unchanged after yes
terday's reduction.
A special dispatch from Washington
says: Comptroller Dawes in his annual
report, upon which he IS now at work,
will submit collection of figures upon
the number of borrowers from the ma
tional banks, which is a new subject
for such report. 1t long has been
customary TO show the number of de-
positors, but Mr.. Dawes determined to
undertake the task of getting statistics
on the number Of borrowers, and has
secured what he considers quite accu-
rate results from two-thirds of the rs, =
600 national banks. The most notable
thing observed in the figures is the de-
crease OF the number of borrowers in
the New England states, with a CORE
spending increase in the number of de-
posters. What this signifies is likely
TO be a subject of dispute, 1t might be
said to show that people are doing
business less on borrowed capital, and
more on their own money; or it might
indicate a Capitalization Of CAPITAL in
to few strong hands the number of
borrowers being decreased, while the
amount Of money borrowed might be
as great or greater. Again, it might
indicate only a settled state of business
IN New England. These questions the
comptroller of the currency will dis
cuss.
In the October dividend disburse-
ments many of the recently organized
industrial companies will figure con-
spicuously, a number Of them entering
the list of dividend payers for the first
time The payments by 40 large COM
panies aggregate over s15,000,0 900, and
this sum probably will be increased be-
fore the month is ended.
The American Sugar Refining Com
pany heads the list, distributing over
l,7O0,000 by its 3 per cent quarterly
dividend on the common stock and ia
per cent on the preferred stock. The
Standard OIL (of New Jersey Com
pany's dividend was much larger ex-
eeedins S5,000,000; but this was paid in
September. Next to the Sugar company
stands the Amalgamated Copper Com
pany, which will pay out 81 100000 In
this connection 1t may be mentioned
that the dividend of the Anaconda
Copper Mining Company, from which
large part of the Amalgamated Cop
per Company's income is derived. Is
S2,4O0, 900, but this dividend is not pay
able until Nov. /.
The Western Union Telegraph Com
pany stands third, its disbursements
amounting TO over s1,200 900; while the
| Westinghouse Air Brake will pay out
| over S1,000,000, as while it's capital is
but $1,000. O0o its dividends (2K per
cent and 7& per cent extra) are 10 per
| cent
| Other conspicuously large payments
! are those of the United States Leather
| Company, $778,000; the American Bell
! Telephone Company, S776,000; the Con-
/ tnental Tobacco Company, $767 900:
the American Steel & Wire Company
and the National Tube Company, $TO0'
| 900 each; the American Agricultural
erican Smelling & Refining Company,
1853 900; the Republic Iron & Steel
Company, SS65,0O0
Among the companies now paying
| dividends for the first time are the
! Amalgamated Copper Company, the
American Agricultural Chemical Com
| pany, the American Ice Company, the
Havana Commercial Company, the Ma
tlonal Tube Company, the New Yorh
Air Brake Company and the Republic
| IRON d Steel Company. If the Mergen-
thaler Linotype Company's dividend,
amounting to 100000, and the National
| Steel Company's of S445,00 both Of
which We're payable Sept. so, were in
Guided, the total would be brought
above $16,000,00O.
The stock of the Boston & Arkansas
Zinc company is advertised on the An
ahclal page OF The Spy. There is a ready
market for zinc and lead as fast as il
can be produced, In the new cyanide
process of treating gold ore, over 40. 600
tons are consumed yearly in South Al
rica alone This together with the de-
creased production caused by the ex-
haustion of the old mines in Europe has
created an enormous demand for Amer
lean zinc. The Boston & Arkansas Zinc
company has a clear title to its 41O
acres OF land, and Is free from debt, ii
oeing the policy of the directors never
to owe dollar.
In order to provide funds quickly to
erect mills and to put the property on a
shipping basis. limited amount Of
treasury stock will be sold at so cents
per share, par value 81. The stock is fun
paid and worcestershire. absolutely no
personal liability. The officers and dIrec-
tors OF the company are New England
business men Of the highest standing,
ana give their services free until the
mines are on a dividend paying basis.
Application by mail for such number
or shares as may be desired, may be
made by check or post office money or
der, to Charles M Thayer, treasurer. 7
Exchange place, room IS, Boston, Mass.
| The Worcester clearing house state
ment Yesterday compared with the cor
responding date in 1898, was as follows:
1898. 1899
Clearings ........$21S, 340.77 $3.50, tic. ia
Balances "'...'., 5O,6os.4S S9,675.76
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