The Salt Lake tribune. [volume] (Salt Lake City, Utah) 1890-current, 1910-08-07
MONEY IN PLENTY
TO MOVE CROPS
No Unusual Tightness in Mar
ket Is Anticipated by
Financiers.
DEMAND FROM WEST
AND NORTHWEST HEAVY
New York Banks Talk Of Form
ing all Emergency AS
sOciatiOn.
BY PRESTON q. ADAMS.
Leased Wire TO The Tribune.

BY PRESTON q. ADAMS.
BY Leased Wire TO The Tribune.
NEW YORK. Aug. 6.-New York will
be prepared TO finance the moving OF
the crops this fall and winter as usual
and local bGnkcrs DO not anticipate that
there Will he any unusual tightness IN
the money market because of il. The
demand in the west and northwest for
money already is Becoming active and
an even larger demand is expected with
In the next few weeks. The local banks
expect to be in a splendid condition fox
meeting this drain, as they now are do
Ing everything possible to strengthen
their position and are planning to form
an emergency association in response TO
! the suggestion of the secretary Of the
treasury so that they will be able to take
cut still more circulation at any time
II desired. While II is considered uu-
likely that additional currency OF this
kind Will be needed this year, II is felt
that the mere existence OF such system
Will exert a steadyIng effect upon q none
tary market and prevent stringency
should one be threatened. In addition
TO the gains In currency, which the local
banks have made from the interior, and
the sub-treasury. II is believed that the
recent gold imports will swell this gain
in cash,
Has Been Busy Year.
From all indications the government
fiscal year ending June 80, 1911, Will have
been the busiest in the history of the
board Of United States general apprais-
ers. Up 10 the middle OF July, from Jan
uary l. more than $4,000 protests have
been filed at the port OF New York alone.
il was estimated that New York sup
plies about three-quarters of all the pro-
tests filed at all ports The eNtraordi
nary increase is said TO be due to litiga-
tion arising under the tariff act OF 1909.
although considerable litigation remains
cto be cleared up under the acts OF 1881
and 1897.
Flotation of Companies,
The Hotation of insurance companies
has become a field for extraordinary ac-
tlvity on the part OF promoters. and as
a result this country is at present flooded
with shares OF great number OF irsur-
ance companies OF all kinds-fre, life.
casualty and surety-which are being
1oated mainly II not wholly for promo
this year, there have been stock offer
ings OF no less than 229 companies call
Ing for capital and paid In surplus OF
some S2o9, 9,63S.ooo. The detailed list con-
tains the names Of some excellent VEN
lures which have completed their organ
ization and commenced business On
the other hand some of those cited in the
list were brought forth in the first month
or so Of the year and have since fallen
into obscurity with every probability thai
their fotation will be abandoned. In
these instances there have been some
subscriptions 10 stock secured, and pay
ments on these accounts will undoubtedly
be used 10 meet what costs were Incurred.
so that the subscribers VIII stand Il good
chance OF losing their assessment: The
attitude OF the general public in Its be-
lief that all insurance is a gold mine to
stockholders. because a few OF the old
institutions have made large profits from
their past experience and costly plants,
results in it's being a fruitful field for
the professional promoter and they &C ac-
than those OF people experienced IN the
business.
August Disbursements.
All dividend and interest records for
August will he broken this month when
various railroad Industrial and traction
corporations will distribute to investors
the sum OF sS7 Sol 595. These figures
compare with $Sl.132, 22S in August year
grand total dividends will call for S4450l.-
595. an increase OF s5,33S.372. Numerous
corporations have resumed or Increased
their payments while others have been
able 10 make their initial disbursements.
At the same time IL is TO be said, now
ever. that the current returns are more
complete than year ago. interest pay
ments will amount TO Si3, 100. 600, against
s39, 400, 000, an increase OF S3.600 900. This
OF course. is due TO the new bond and
note issues. A summary OF Augusts dis
bursements. with comparisons with the
same month year ago. follows:
1910 1909 Increase
Rail-
roads .s22 536 $50 s2O. .745 800 sl.79o. 7o9
trials -. 1933o.123 1s.sa9531 9eo5os
Street
rail-
ways .... 2634,SSs 2.o77.762 357.o71
Totals .s44, 4,5Ol. .5a5 s4l,lsa. 22s sa,ass,a72
Value Of Seat.
The aggregate value or the 100 seats
on the New York Stock exchange reached
$l05 600 900 last year. contraSted with Il
total OF only STl. 800 900 on the basis OF
L., .t-.Nr I,f
Earlier this year maximum OF Sl0O.0OO.-
600 WAS attained. seat having sold at
s9l 900. against the last low figure of
s65. 900. and last years maximum Of $685.
600 During the panic there was a fall TO
$50. $50, ,000 serious drop as compared
with $10i, 10000 in both 1906 and 1905.
The minimum during the last decade was
s33, ,000.0 900 recorded In 1900. The value
OF all the seats on the Boston Stock ex
change on the basis OF the last sale at
$4,000 is $4.l50.00o. contrasted with u
high record of so.7T5. 900 before the panic.
At present Boston seats are selling only
$4,000 above the panic prices, there hav-
ing been a decline between the last two
sales Of no less than $4,000. Commission
:, houses everywhere are suffering acutely
from the chronic apathy Of the public to-
ward securities, and unless things rad
icaIly change the 1910 profits VIII be
losses. so 10 speak.
Schemes of Late Mr.. Hartman,
The multfarious schemes projected by
the late Edward II. Hartman for build
ing UP his ramincations in the transpor-
tation world are not all being carried out
hy his SUCCESSORS. Probably no single
individual knew the full extent OF the
plans that were slmmering in his ever
active brain. No enterprise was too big
10 daunt him. nor was any too small
for his notice did IT. fit into his conti-
oent-wide programme. The gaining OF an
entrance into a little town here. the buy
ing up OF a local trolley system there
such matters were constantly in his
mind The recent announcement that
New York banking house has bought
the holdings of the f, II. Hartman es-
tate in the Augusta Aiken Railway Elec-
trio company for 81. 100000. taken by IL
self: looks insignificant enough but IL Is
Characteristic OF what is going on. The
management OF the great Hartman ma
chine Ia understood To be concentrating
their attention upon the more important
projects. which arc numerous enough In
- "~-r"'e''"~ 10 "-nnio" fhnir tim" ard