The Seattle post-intelligencer. [volume] (Seattle, Wash. Terr. [Wash.]) 1888-1914, 1900-08-12

ment funds. and upon these alone it-could
mute a profit,
The fsanco Espanol- Filipino occupies
curious financial position IN our islands
II Is Spanish institution. put II Claims
to have concession BY which II Il the
only bank that can issue notes OF circulas
sion. This was It's position under this
Spanish regime. and today the oniy notes
in circulation here are those Of this bank.
The Banco Espanoi- Filipino claims that
the United States. BY the vreaty OF Paris.
has no right 10 establish national hank.
nor to Issue greenhacks or other circtlat-
ing notes I doubt however, whether Its
claims win hold. and | am much inclined
20 believe that rs extension or charter
to 1877 was made after our war with
spain was In progress. and with view
tn such a complication as has arisen
have had access to the bylaws Of this
bank and can give little OF Its his
tory n was established IN 1854 with
capital Of Ssep e1, and charter OF twenty
nve years. In fss6. the time az which this
charter expired. mn extension ef twenty
five years was granted. thus bringing
It's lse up to 1901 The last extension on
which the claim u the bank is made h
NOT mentioned IN the translation OF the
bylaws aud regulations Of the hank OF
tie with our governor general. and II WAS
probably If too hate a date 90 get In.
been : money making institution. and ~.
though Il lost considerable At the time 81
the conquest 81 Manila through the Span
ish ofieers. ns stock a now quoted al 10
per cent. above par II paid not Ions ago
a half-yeAylv dividend OF per cent and
thnt an 81 teo,eeN the amount 70 which
the rapitai has been Increased from time
90 thine l1y the laws % the bank the
governor general Of the Islands Is IT,
chief director and 10 per cent. ~ the
proEts must 80 10 the directors nnd ths
government beard 50 that of the siA,
do mat see bark earned during the above
SIX mouths 81 "a should b. divided arnonR
a,ty government essclals, who arv by law
usiesrs ~ lhc benk.
acAetstAnd that she decision as 10 tha
eaetlauan er az tho bark Is 20 b. left to
eoaEress ard that the bank intends TO
fxhs for ifs existence. The last cances-
ssrn " Il wrte gotten after the begin
etag ~ the wAf should undoubtedly Be
declared n0H and seid.
savfnss Bark ard Pau'nsroser $ Shos
CcrsssseS.
TAsre i only one savings hank 50 Man
as- ana this IL cossklned with sort =
sexcsnmrut pawrasak#r's shaR The iar
stssassers arr rzn ~ me rnufch' ana nc
Afrnltshaa - practically The head. The
capltal sio<k auseents 20 about So 90
The savings department gives an Interest
rate ef nsr cent and the naNn depart,
saeat charxes Per cent en- l@ams. with
geld silseF and clothes as collateral The
s&siuxa kank Is ceeH every Sunday morn
Tag Tor the Withdrawal ~ aspostts. so
th@rc y ne sxeHsr Tor the goed Christian
Who has money IN the hank not 20 Say
h&s chaych dues
should thlnk a good savings hank on
the American rian weaia pay wen. There
Will BE- a large force of American soldiers
here for years and AZ present there T.
na place for them to .eposis small saw
Tags ne sig hanks do not encourage
small accounts and they 10 uot like a
draft or check % less than $50
There WIN ~ chances Tor sGlfdlng and
iean associations later en-, and indeed,
Ter al sorts 81 mancy-lending institu-
tsaas The interest rates out in tho coan-
try are high. running from l per cent a
month 10 = and 10 per cent ard even
more a year. Much money Is loaned up-
on crops. and N many cases the tender
| szpgiates that the interest be paid not
| la money. but 10 a part OF the harvest.