The Indianapolis journal. [volume] (Indianapolis [Ind.]) 1867-1904, 1904-04-13
General Financial News.

One Of the features OF the transactions in
the local money market during the past week
was more or less heavy borrowings by some of
the large foreign bankers most of them Ger
man houses. longtime loans have been freely
offered recently and within the past few days
funds for full year have been obtainable at 4
per cent. a trihe above that figure 1t is
money of this kind that has been taken by the
foreign bankers In this connection 1t is inter
esting to note the changes shown in the loan
accounts in the statements OF the European
banks last week OF the three most important
banks. the Bank OF France. the Bank OF Eng
land and the Imperial Bank OF Germany the
two former showed a considerable reduction in
loans for the week. whereas in the case of the
showed an increase Of s2S' $50. 600 marks. The
Bark OF England reduced its loans by G5.392.-
Despite this situation the rate of discount in
Berlin showed signs of easing did the rates
for both the time and call money in the New
The beginning of gold shipments to Europe
during the past week brought out the fact that
some of the shippers particularly anxious
to secure for export gold bars of unusual fine
ness. In explanation IL was said that the gold
was going to Paris and that the Bank OF France
was insisting upon having bars OF unusual fine
ness. Ii developed. however. that the demand
for these specially fine bars made in the
case Of the shipper who entering the field
of gold exports for the first time. and the
further fact that the largest of the weeks shin
pers. who have been in the business a very long
time and who moreover. are credited with
Bank of France. were content with the ordi-
nary run of gold bars. II was suggested that the
novice working under a misa pprehension
or that the Bank of France was after all salts
assay office here the quest for bars OF special
fneness was not understood
pers OF silver bullion OF some years ago They
asked the assay office, somewhat TO its surprise
n and
when ii reached there the exporters found that
they were credited on the basis of bullion COS
seems to show that what is theoretically best ia
not always really best even in fnance.-New
York Times.
The State OF New Jersey has replied TO such
OF its sister States are levying burdensome
taxes on foreign corporations doing business
within their borders by an enactment passed
last week that is to prove quite as string
ent as the majority OF those in operation outside
of New Jerseys borders. The act provides
with certain exceptions stated below that every
doing bnSness in Ne ior peeunary profits
insurance ferry and railroad corporations ex-
a AND paroT
cupying highways or other public places i'm the
on the gross recSints ~ tba a VI per c cent!
business done in New Jersey.
-Four years ago. the 14th Of March. the act
was approved authorizing the Incorporation OF
national banking associations with minimum
capital Of $4,000. and from that date 10 March
81. 1904, there have been chartered 1880 asso-
Citations with authorized capital stock of SIP
$4,000. of which 1881 with capital of 1872 SIS COO
were banks with individual capital of less than
$4,000. the average Icing approximately s2s coo
During this same period GO banks were incor-
porated with aggregate capital of So AS. 900 and
individual capital OF $4,000 or over the aver
age being nearly Sl20.o0o. Approximately forty
banks have been chartered during every month
OF this period
During the month OF March charters were
granted to fOrty-two banks. with authorized
capital OF 81. 1885, geo, Of which Twenty-Five with
capital of $s45.G00. the smaller class and
seventeen. with capital OF 81 .5-O 900 hanks with
individual capital OF $4,000 over Twenty
eight OF these associations were primary organ-
izations. twelve congratulations of state or
private banks and two conversions OF State
banks
National banks TO the number OF 7194 have
been chartered during the existence OF the
system. Of which 5.273 in active Operation
i.511 have been closed by voluntary liouidation
and 40. or only o. per cent. placed in the
Since March II. 1900 there has been a NET
increase OF active associations OF s5s and in
authorized capital stock OF 1854 6s7 go the ex-
istng- capital amounting 10 $40. e75 SIS Bond. on
deposit TO secure circulation have Increased
during the same period from s2ii Gil $40 to sSeS-
GA $50 Si53 423 ESQ The increase in circ,,-
lation bonds s17s. 225. 49, and the Increase
in circulation covered by deposits OF lawful
money sl.2sl.T13. The total outstanding circtI-
laticn March 81 s434 900 a42 an Increase
since March IL. 1900. Of slSl507. 2l2