The Scranton tribune. [volume] (Scranton, Pa.) 1891-1910, 1902-04-05
BUSINESS BREvITIEs.

big, stubborn, incontrovertiblc fact standing
over against all that pessimists and other proph-
cts OF evil may say about the present status or
the immediate future of the wagc.carners in this
country is found in the official report from the
superintendent of the state banking department at
Albany showing that the savings banks OF New
York city alone have resources hand to the
amount of $500, 900, 100 and that they handled in
deposits and payments in 1901 the enormous ag
gregate OF $3.50, ,234 0sS. The amount Of savings
thus accumulated in the banks of the metropolis
would be sufficient to pay the ordinary cApendi-
lures OF the federal government for nearly two
years. and would wipe out two-thrds of our Ia.
tional debt. One institution alone, the Bowcry
Savings bank almost in the heart of what is
known as the tenement district, increased its
deposits in excess Of its Withdrawals last year
by over four million dollars having on hand at
the end OF the year SS7 $50 706 representing over
100000 depostors, number exceeding that Of
all the taxpayers in the city. 1t is difficult to
believe that poverty is laying its hand very
heavily upSn q people among whom such
showing as this can be made.-Leslie's Weekly.
In every department OF business the past dec.
ade has witnessed wonderful changes, all in the
line Of Improvement Ten years ago life insur.
ance policies contained severe restrictions re.
garding the residence and the settled limits of
travel of the insured A policy limited the
safest. 1t forbade service in the military, naval,
or fire departments. without the company's con.
sent, and the use OF intoXicants or narcotics. 1t
contained many other restrictive, qualifying
clauses. One by one, as the outsrowth both
competition and of greater liberaity on the
part OF the companies, these restrictions have
been eliminated, and now some Of our greatest
companies issue policies absolutely free from con-
ditions as to habits of life, travel, occupation,
residence. inn
tcstablc from the date OF issue. In former times
1t was difficult for man to understand the terms
OF his life insurance contract or policy Now
they are as simple us Il note Of hand and in some
instances much more easily understood d.--Lesle's
Weekly.
The report OF the General Electric company for
the II months ended March !, filed with the sec.
retary OF state in Massachusetts yesterday, shows
a balance equal to 5lS per cent. on the capital
stock outstanding. The capital stock OF the conf
pany on March was S2i, 1886. 800, an increase for
the year OF s9sis0O. The balance OF the company
on March ! stood at 6s,92s, an increase rs
compared with the corresponding date of last
year Of $6,2i0,S9i Taking into consideration diyi-
dends of per cent exceeding $2 900, 900 paid on
the stock, 1t is apparent that the earnings of
the General Electric cocpany for the twelve
months were more than 80 per cent. on the
capital stock.
Pennsylvania gain in freight earnings alone in
1901 over 1890 was $l6,7s2, ,O52 or 32 per cent,
while the freght-ton mileage increase was only
500 per cent, showing a considerable rate i'm
proyement, owing to the immense increase in
carrying demands.-New York Times.
Friends OF ]. =. Morgan say that soon after
arrival OF the big fnancier in London there will
be important developments bearing on both the
Reading company and the United States Steel
corporation.
At the office OF the Westinghouse company In
Pittsburg it Is authoritatively stated that here
is no foundation whatever for the rumor Of
consolidation with General Electric
The Deutsche Webcrseeische bank, OF Berlin,
is reported to have decided upon a branch in
Mexico City, with 20OOO,0O0 marks capital.
Tennessee Coal and Iron directors have de.
clared the regular quarterly dividend of 2 per
cent. on the preferred stock, payable May l.
There will be no government report on spring
wheat until June 10, and first report on winter
wheat will be issued April 10.
Railroad projects to the number Of l5O2 are
recorded in the United States, Canada and Mex
leo.