The Washington times., 1907-06-16

from nauOndi DdnhS, secretary COTlei-
you will release about 100000 State
city. and railroad bonds which are now
behind these deposits as security in The
Treasury here and the subtreasury in
New York. These bonds, as a rule. were
accepted at between 70 per cent and 90
per cent of their market value
Last year the Transvaal provided over
30 per cent Of the worlds output of gold;
that is. Sl19, 7.190 out OF 1897. 49,, 372.
Il is not generally known that c. NJ
Schwab paid for the .Montgomery-Sho
shone mines S4,OOO,OOO in cash, and that
the person to whom the money was
paid was known as a man who never
had 800 in his life
The value of the manufactures of the
United States in 1906 was practically
fifteen times as great as that shown
in 1880. while the value OF the exports of
The same class of articles in 1906 was
twenty-four times that in 1850. Articles
which have undergone a process. OF
manufacture increased twenty-three fold
during the period from 1850 to 1906. while
those exported in a crude state increased
less than seven fold.
1t is reported that the English stock
holders will oppose the amendment 70
increase the common stock of the Union
Pacific by slOO.OOOOOO at the special
meeting 10 be held today To carry out
their plan the management needs about
80 per cent CT the stockholders; at pres
ents 70 per cent of the stockholders have
pledged support to the issue, according
TO persons close to the company.
What is to be done in order to bring
he inf he
call has been made, addressed TO the
specialists. who are invited TO make
their wares more attractive. Traders
say that II this is done outsiders may
be induced u pay more attention 20
the general market.
Last years figures do not do justice
to present gold production. which is at
a rate of at least one-half greater. I
feel confident that Nevada in 1907. will
produce at least SIS. 100000 gold, and will
rank close to Alaska, Colorado, and
mining interest of Nevada, as il exists
Today, a I places like Goldheld. Tonopah.
and Rhyolite, is only in it's infancy.
Comptroller Of the Currency William
B. Ridgely.
Board OF trustees of Bowery Savings
Bank have decided 10 continue the
per cent interest basis which the bank
initiated at the previous semi-annual
period Washington savings banks pay
> per cent TO depositors.
IL is difficult to name any time since
1913 at its worst when commission house
business Was quite so bad az It is now
Even in those day there were at least
large insurance companies always in
position to take securities, and the buy
Ing capacity Of the richest men in
Wall Street had not been crippled to
The fearful extent of the last decline
Since that time the contraction in life
INSURANCE business and the terrific
losses OF the fire insurance companies
nave put the really big investors out of
the market, and Indeed in some cases
they have been forced to reduce their
own holdings
The Wall Street Journal reports that
all the leading industrial interests have
done an immense business this spring.
The Standard Otrs business has been
the largest in its history. The General
Electric Company reports business In
excess of the first quarter OF 1905 The
United States Steel's new business is 20
TO 30 per cent in excess of the first
quarter of last year The Railway Steel
Spring. the Westinghouse Electric. the
Republic Iron and Steel. the Tennessee
Coal and Iron, and the American Car
and Foundry all report ord-breaking
States Rubber exceeds last years nv
80 TO 40 per cent. The Allis-Chalmers
people report that business in the last
eight months is double that of p year
ago, and orders on hand are the largest
In its history. The International Har-
vester and Corr Products companies
say business is in excess OF the CORE
spending quarter of 1905
In the opinion of bankers generally
the recall of the 100000 of United
States deposits to be returned on or be-
fore July 10 will have very little effect
upon the money market because the re-
demptiOn of the 4 per cent bonds will
begin on July 2, and the July disDurse-
ments for interest and dividends will
nave been pretty well distributed be-
fore the time FOR the return of the
L nited States deposits
The ordinary disbursements of the
Government during July are always
larger than in any other month because
The new appropriations become available
on July 1. and the expenditures Of the
Government usually exceed the revenue
|. during that month.