The times dispatch. [volume] (Richmond, Va.) 1903-1914, 1904-10-20

,1re OF new Institutions to make good.
Several Of these virtual failures came
very near causing great hardship to the
people Of the middle and working classes.
For example tho Federal Trust Company.
which was taken over by another bank
early in the year. was in reality a savings
bank. 1t had advertised Its facilities
throughout the country. and held depos-i
Its from the working classes OF nearly
every State In the Union. vi
But savings bank depostors arc now
reaping another fruit of"tarlff- produced
prosperity" The banks here have been
paving four per cent. interest on savings
accounts They are Just now beginning
TO scale that interest down. Heretofore.
they have paid interest from the first OF
tho month on all sums deposited up to
the eleventh.. The rule just adopted is
mot to pay interest on any sunl deposited
after the first. Heretofore interest mas
also. been paid OH all money held for a
full thirty days period. The new regui u,
posted for. less than three months The
savings banks found Il very easy for sev-i
eral years !. to pay four per cent. This
lis not so now, and 1t is generally believed
that three per cent. will be the prevntl-
ing figure before very long. ar
Money is more difficult to borrow III!
Cleveland to-day than in almost anysother.
rates arc fully Sone-half OF one per cent.
higher than they are even in Cincinnati,
and banks arc looming very little money
for tile expansion OF ma nufacturing plants.
Few OF the concerns here, outside of the
automobile factories (Which are every
where enjoying an abnormal PROSPERITY:
have added to their producing capacity
within the last twelve months, There ma
been feeling OF Uncertainty and dis
couragement throughout the period, and
this sentiment has been most manlfest
among the concerns most closely allied
with the large trusts. Small companies
which have been content TO sell their on I 4
put a t. a normal lgure and not push inc
market overheard fby grasping at all the
opportunities offered by high protective
tariff, have enjoyed and are SUI enjoy
ing a good business.
Lake Shipping Largely De-
creased.
Next 40 Chicago this Is the most inn,
T,ortant shipping point on tho 4,Great
Lakes, Heavy cargoes OF iron ore from ron,
the Lake Superior regions arc received
here and great shipments of coal and
iron are dispatched from here. Yetthis;
summer has seen the smallest lake sllip
1nents both outgoing and incoming (. i LOT
many years past. This has been due IN
part TO tho strike which occurred on the
lake vessels early this season, but " has
also been very materially affected by the
reduced business ali along the line
g Yet every bit OF this hating OF trade
has been accompanied by aheavy increase
In the cost Of the necessa:ics f5ife. The
1nost conspicuous changes In price nave
been in wooden goods and meats. The IN
crease In the cost OF beef bacon and pork
have been fully. twenty percent here with
in the last three or four years The price
been fully twenty per cent, here within
the last three or four years. The price
OF -four has risen very steadily, and the
most aggravatlng part Of It - that the.
raises have occurred almost simultaneous
" with general reduction in wages or
With the shutting down of mills. Times
arc NOT .'hard here, but the people and
even Republicans fell very strongly sthat
there should be n REIMBURSEMENT OF eco
nomIc conditions