The evening times. [volume] (Grand Forks, N.D.) 1906-1914, 1908-11-18

w. 1. fenCON, vice president OF inc
National Bank, Of the; Republic. "but
there are married. evidences Of Inn
proved sentiment among merchants
and manufacturers. and that feeling
is already developing fresh demands
for funds. Our bank will encourage
the activity SO far as It is warranted,
as we believe that better times are
ahead. Since the election discount
rates have advanced full one-half
OF one per cent, and the supply Of
notes offered has been decidedly in
creased. Customers from now on will
not be held under any restraint when
they need money for sane purposes.
Adjustment during the panic worked
out an extremely healthful condition
In general business, and the country
Is starting fresh with small stocks
OF manufactured products, big crops,
good prices, and an abundance Of
cheap money" Bank clearings show
large gain and for the first time
now the comparison Of current clear
ings with those of 1907 gives a real
indication Of the progress toward re-
covery from the effects Of last years
panic as hitherto the comparison has
been with weeks when prosperity was
at high tide, before the financial
storm broke. A recent week showed
gain Of $29,262,179 over the corre-
spending week of 1907, or gain Of
almost $5.000,000 day. II this rate
OF increase continues It will not be
long before business will be on
permanent basis Of prosperity again.
The most interesting result of the
panic of 1907 now is shown in the
reports of corporations as to the in
crease of the number of stcckholding
partners, particularly in the west and
among women. Sixteen of the larg-
est railroad and industrial corpora
tions have reported $4,000 partners
as against 255,499 before the "bank-
ers panic" began. Reports of the Hill
railroads show 1000 shareholders
now as compared with $500 a year
ago. These figures throw light upon
the process of the change that took
place during the period when the
wires from the west were burden with
prices The reports of the steel trust
and the Pennsylvania railway show
that As per cent Of the shareholders
| AS'' 0AS "OAACu, IuO luSlCdc0 Uclu6
81 per cent In the case OF the steel
trust and 40 per cent in that of the
Pennsylvania, which goes to show
what real marked down" sale will
do with women. Before the panic
the shareholders of United States
steel numbered $4,000; they number
over 100000 now. The Pennsylvania
has 10000 shareholders and the San
ia Fe railway has reported $4,000.
This tremendous change is to be at
tributed very largely to the west,
where investments are being made in
stocks and! bonds much more than in
former years and where the Missouri
spirit of wanting to be shown" real
values has increased in marked de-
gree since western speculation was
checked in 1901.
Over $1,000, 900 of Chicago's income
this year will come from saloons,
which makes the item of dog tax look
sick-on1y $128,000. The increased
cost of licenses from $500 a year to
$1,000 did drive about 1000 thirst en-
poriums out of business, but made
an enormous increase in the city's
ACsCAuo5. he IdAcS Ou tu0 Two oil.
lions Of assessable property brought
In a revenue Of only $4,561,453 last
year 80 the saloon business looms
up as the city's biggest producer with
revenues from the traction business,
under Chicago's prize solution of mu-
ndcipal control of public utilities COM
ing next, at over 100000 a year.
The city had S,097 saloons in 1905,
and the revenues therefrom were only
100000. so the decrease of 1000
in the numbers of licenses as result
OF higher cost was much more than
offset. 1t is said that the number of
women running saloons has not been
affected by the price set on their H.
censes. The process of elimination
has been gradual-the numbers be-
ing reduced from 8,097 saloons to T.
1853 at the outset, to 1887 after they
had six months more of the license
increase. to still fewer each SIX
months since then. The police de-
partment costs the city $5,61O,s45, the
house Of correction $275 1852, and the
municipal courts $807,6S a year. With
these figures friends and foes of pro-