Evening star. [volume] (Washington, D.C.) 1854-1972, 1909-02-27

gregates over $3.50 eco 600 and their div
dends are big. Take the Bank of Japan.
which does the business of the govern
ment That bank has capital and re-
serve fund amounting TO about S20,9o0o 900.
and its assets are 500 100000. Its de-
posts show a balance on hand of over
S"060OO.00. and the net profits are about
$3.O0O0Oo year. The stock pays IL per
cent. The Yokohama Specie Bank made
$2.0IDOO0 in 1907 and paid dividend of
l. per cent. while the Hypotheck Bank
paid 10 per cent. There are forty-siN
agricultural banks here which pay divi-
ordinary banks are paying the same and
some much more.
One person in every six IN Japan mas
some money in the postal savings banks.
These were started In 1875, and the de
postors have doubled in the past ilve
years. There is now four times as much
money in the postal savings banks As
there was at the time the war With Rus
almost $5O.OOo.OoO. with over 100000 de-
positors The banks pay As per cent
interest. and the interest is compounded
by adding it to the principal every six
months 1t is probably the highest saw
ngs bank rate paid by any government.
AS TO the private savings banks. they
number five or six hundred. with de-
posts aggresating 1OOOo0.0Oo. and the
dividends are on the average aoout
per cent. The paid-in capital of such
banks amounts to more than SO, 0oO, 900.
1t must be remembered that all these
institutions have been established within
a generation. Japan knew practically
nothing of corporations until few years
ago, and the people are still afraid OF
them. Marquis katsura, the premier, who
originated the new financial policy
starting. says he wants combinations Of
capital, and the bigger the better. Baron
ShibusaWa, one Of Japan's multi-million-
aires, who was instrumental in starting
some of the first of such combinations.
says that they have already quintupled
the value Of every Japanese industry and
have increased that of many twentyfold.
He believes the future of the country de-
Ponds upon them. Today Japanese CAPT.
tai is organizing. There was big era OF
such speculation at the close of the China
Japan war, and a similar one has just
passed. During these periods there were
many over-capitalized companies. but
most of them have gone to the wall, and
the greater part of the corporations now
in existence are paying dividends. There
are now nine or ten thousand different
companies with paid-up capital of more
than 100000. 900.
There are electric railways In the larger
cities. These have capital OF almost
$40OO0,OOO. In addition there are other
companies. organized but not yet In work
over $4,000 600 The electric railway
business is in It's infancy and it is sus-
ceptinle of great development. The To-
kio electric tramways paid S12 per cent
dividends last year. and the line from
Toxic to Yokohama paid more than IL
per cent. The Osaka-Kobe line yields
dividends Of l. per cent. and there are
other roads which are paying from 4 to
per cent. All these lines are overhead
trolleys and the service is good. The
crowded In those Of Toxic Ii
is often impossible 10 get a seat during
certain hours and. as usual. the stra ps
aid in paying the dividend. You can get
more for your money on the Toxic street
cars than anywhere else I know The
fare is equal to two of our cents. and the
system of transfers is such that one can
ride over thirty-five miles of track for
that amount.
AS to the steam railways, the most of
them are owned by the government. More
are being acquired. and in time the whole
of such communica tons will belong to
the state. 1 understand that the govern