The news-democrat. (Providence, R.I.) 1906-1909, 1907-11-30

SON with the resources OF the borrower.
not larger than such resources, but so
large that call for payment would pm
many cases necessitatc recourse 10 the
capital used in the business, and result
In disaster The loans upon mortgage
are believed to be almost uniformly
banks will be changed somewhat when
the matter OF tho disposition OF the pro-
ceeds OF collections is adjusted.
STOCKS AND BONDS.
In the items of stocks bonds. etc. held
as permanent investments, there is much
which is capable OF explanation and the
receivers fell that it is incumbent upon
them 10 give such assurances as they
may with reference TO the largest hold
ings
Three thousand eighty-five shares OF
Denver and Northwestern Railway COM
pany are carried at $50 per share. rms
corporation is capitalized at 100000. II
owns the entire capital stock OF the Den
yer Tramway company and about -
miles OF railway. Its earnings are large
and steadily increasing. and are devoted
to improving and extending its system.
II is regarded as worth the price at which
IL is carried.
The Union Trust company holds In All
SS75 shares OF the United Traction and
Electric company carried 5000 shares At
10l and 1915 shares at l02 and fraction.
The block last referred 10 Is held on joint
account with another company, the utle
being I'm the trust company. with an
agreement that the investment shall be
continued until July /. 1905 and profits
and losses shared equally. This Is mani
festly one OF the holdings, the large
amount OF which, taken in connection
with the limited market, may AFFECT ths
proceeds OF liquidation.
The ownership OF 1883 shares OF the Ma
tional Exchange bank, more than three
fourths OF the entire issue carried at s35i.-
II per share, and amounting TO Sl,3I5,lS2
80. seemed TO the receivers so important
a matter that they have asked for
statement Of the condition OF the bank.
Such a statement has been furnished and
is appended TO this report. This state
ment Is most reassuring and should be
entirely satisfactory To the depositors of
that bank. showing as il does assets
which. conservatvely figured, are suffi-
cient to pay all It's obligations and leave
n balance evidently much more than dou-
BILE the amount of the capital. Neverthe-
less. the statement makes IL clear that
there will be a considerable shrinkage I'm
this item OF the assets OF the Union Trust
company
The item OF sl25Ooo, covering 1000 shares
OF the Broadway Securities company, is
regarded as of little or no value, and the
$50 shares OF Central Construction com
pany carried at $4,000. is certainly value
less
Five hundred shares OF $1,000 each OF the
City Realty corporation s the entire cap
tai stock OF the corporation which owns
the building in which the banking
rooms OF the Union Trust company are
located and the adjoining Macullar,
Parker building on Westminster street.
and holds n lease of the property at the
corner OF Westminster and Orange
streets. The Union Trust company
holds the note OF this corporation for
! 1861 900. The net annual rental OF the
property Is upwards OF $4,000. or
! about 4 per cent OF the total invest
ment. The rent of the banking rooms
| is $4,000 per annum. The item OF 100
shares OF the capital stock OF tho Union
! Trust company, carried at $4,000. or
| 5000 per share. requires explanation
| The receivers are informed that within