Deseret evening news. [volume] (Great Salt Lake City [Utah]) 1867-1920, 1907-11-12
RAILROAD STOCKHOLDERS.
Nearly Half Of New Ones Are
Those Who Have Invested
Their Savings.
Gold Engagements Pass the Fifty-six
Million Dollar Mark and
More Is Coming.

New York Nov. 12.-Brokerage
houses here. which make a specially OF
dealing I'm small lots Of standard IN
dustrial and IeDroad shares, continue
TO be swamusd with work and houses
with fcreign connections report wave
OF buying orders from Europe Wn'ch
is unnrccedented. Probably the most
striking feature Of the financial si'ua-
ton at present is the big scale on
which This Investment buying by per
sons with small savings is going on.
far,ts I carter in charge Of the
stock transfer department OF ), T. M"r-
gan & Co.. Is authority Tor we $50.
mont that ia practically every lhPpl
ant railroad stock listed WY
stockholders who have recently ul
"a their saviues chiefly In small lula'
,enreseut frorn % 10 90 per cent of the
total number Of stockholders entoueu-
Mr.. Carter says that the purchases
averaac not more than 20 or 80 shares
10 tho Individual. that they appear 10
be for investment rather than specula-
tive purposes and that the orders coliie
from an parts OF the country. ,
The transfer office Of the United
states Steel corporation Is a week pc
hind on It's routine Work. Inc Union
Pacific and Southern Pacihc raliioads
report an increase In the numoer y.
stockholders at the rate, since the ili5e
of the month, % 800 a day Inc lNocH
Island road has opened between 800 ana
600 new accounts ia the last six weeks
mostly In the common stock. The NUM-
her Of stockholders OF the Chicago, NIL
,vaukee q ST. Paul has increased by
500 in the last two weeks. Inc aclNlty
in PENNSYLVANIA railroad stock mas
been so great Of late that hgures OF re-
fenf date are uuObtaiudOle.
GOLD nIPoRTATIoNs.
The movement OF gold from the vaults
of European banks TO the United Sla'Sa'
which has been Ia progress for severe,
,reelts In which the unprecedented total
~ nearly SCI. 900 600 has been engaged
abroad for import stil continues. 100
The total which passed the So2iOuV,uuv
mark Yesterday was increased to-day
when the Illinois Trust a Savings bank
Of chicago completed NEGOTIATIONS 10Y
the imuorrstion Of $1,000 600
This engagement makes the total 10
date $50 OS0 900.
CHICAGO BANKS RICHES.
Chlcaro Nov. irwin Chicago
banks the richer by nearly SS,5oO,Oo0 IN
gold. IL was confidently stated yester-
day that the tension OF the money
scarcity win not be prolonged beyond q
few weeks. While the banks continued
10 engage more gold abroad, the clear
ing house rushed the work Of getune
out It's "oashless checks" In small de-
nominations which vii be used locally
IN lieu OF currency.
1T was the general opinion az the
meeting Of the clearing house today
that the tension had been appreciably
relieved" said John J Mitchell, presl-
dent OF the Illinois Trust & saving
bank IAN OF the gold reserve cities
reported the situation much improved
The report from abroad is that London
Is getting gold plentifully from the con-
tment thus making IL less difficult for
American banks 10 engage gold IN Grea,
Britain. 1 have engaged $500 900 more
today. making a total OF 900 Tor
this bank"
SMALL BANK FAILS
Chicago. Nov. i2.-The Ravonswood
Exchange bank spal Institution IN
the suburb of Ravenswood, closed it,
doors today. The bank Is small. and
has nc connection with the Chicago
clearing housa
The bank was a partnership concern.
Its suspension created no STIR IN iinan-
clal circles. The deposits amount %
$3.50 600 The hanks officers declare Il
Is entirely solvent. and that nobody viii
lose through the suspension. IL Is said
that some OF the assets while good.
slow in realization and as Withdrawals
were heavy, f. was considered best .
wind ~. "
AMERICA BUYS GOLD.
London. Nov 1.-THE United states
TODAY bought H393,O 600 I'm bar gold ana
c560O0 in American eagles from the
Bank OF Engl md.
g. r.. BANKS IMPROVING.
San Francisco. nov. 12.-Bankers to- |
day report the financial situation in San |
Fraucisco 90 be Improving steadily
ana the outlook ms very encouraging
Within the last four weeks gold in eN- |
cess of N000000 has been Transferred /
By the New York subtreasury, the MAJ
lor portion of Il going 20 local banks /
The remainder was distributed among /
Washington, oregon. Nevada, Utah and /
california banks outside OF San Fran /
cisco, having eastern balances due.
The new clearing house certificates OF /
SO $40, s. and 81 denominations are cir |
culaung freely aud being accepted /
readily n trade
President Homer s. King Of tho clear |
ing house association said today that /
the suspension OF Tho Union National |
bank OF Oakland yesterday lu up wise |
effects tho banks OF San Francisco
CASHIERS CHECKS REPLACED.
Kansas city Nov l2-Cashiers |
checks, which the banks have been fur |
nishing the business houses Tor the /
nast week 20 enable them 20 meet their |
lnAfoIla. were replaced today hy clear /
Ing house checks Additional security
~ thc new medium of exchange is tho i
reason given for its issuance AND Tor /
the refinement 0f the old
H