New-York tribune. [volume] (New York [N.Y.]) 1866-1924, 1912-10-17
'RREF NOTES OF FINANCE
paragraphs of Current Interest
for the Investor.

:, IS rumorol that the wall sT ,so
II vbo lost so much money on ,ns
ISL, viii organize bean company anu
u .n ne stock in Boston .-.
Oil Fuel Economical
p, the average mind oil as tueI. mas
10 t'' ,sssing significance, except 10
OILY ,ts who dwell in the oil districts
nhso', ,soss who are directly Interested
- an bus,ness in one form or an
70 TIC cte economy Of oil as fuel is
..ashed, but rs economy Is not con-
s''4 ...o the cost OF the oil as compared
ne cal in steam making comparisons
S''n -,.ar,chips. especially there Is an
IN tha force OF fremen required
.o.'', sa,,,rr. Of course, is governed by
90 -. NJ tie steamship. Such ships as
n9 n,,ropic the, Lusitania and the
l' ,o,ia Il IS said. could each dis
Nsu u,,,b more than $50 firemen. and
",s, this item alone, II Is estimated
~, t-s 400 a year on each ship could De
iun, Thsn the room saved for freight
large steamship would be an I'M
- item. on is a popular subject
Jaws. ana its use means much to
=. western coast particularly
Iron and Steel Trade.
-.,,,-,s continue 20 be paid on steel
.s,,c,s but the volume Of business Is
Ssst,nsd 70 continue growing at the
DV. roD,s rates. according 70 the Iron
les" which says:
sWItb most mills practically sofa up
~ s,x months ahead on important prou-
4 a.,s ike bars, plates and structural
80. q Is not to be expected that new
..s..s will keep up the September pace.
y Is a question, moreover. II the steer
rorohratlons gain OF nearly +eoVD TONS
mailed orders last month was duph-
- nv the aggregate of independent
OF h evident that producers are exert
~, themselves TO prevent speculative
s-,,ry Their order books are no doubt
,,.,,sr IN this respect than in any pre-
\ ,1ons advance. But cases are known III
l vs,es buyers have placed With TWO
~ ,srss mills amounts exceeding their
n ,,sss as En insurance against monde
II pysry It Is certain that the oveTseIhhs
H. much more than the overouylng' put
ksD-ssr book totals would not be PROOF
h ss,inst an untoward change in general
conditions
Anthracite Coal Trade.
rAs ,assiug condition Of the anthracite
al business is viewed as follows By The
r,sl Trade Journal"
S1n the anthracite trade the continuance
a, mild weather for another week has
S.sn the KEYNOTE OF the situation While
q cannot he said that the situation has
S.,oms any easier the mildness Of the
vsather has undoubtedly prevented the
r,,kst conditions from becoming moro
,,p,s The unfortunate development as
/ 70 weather at the end Of September gave
H 4holssaIers and retailers alike an Illus
;rstlon Of what might be anticipated with
\ regard 70 prospective demand when the
RIOS, is on the pumpkin For that rea-
son the respite afforded by two weeks OF
saubrious weather has been most crafty
n7 and as output has continued large
considerable headway has been made
II At he same time coat continues scarce at
\ al points. Thee ftc CT that some small
,lacss report plenty Of coal merely hrtnss
\ INTO prominence the adage as 10 the ex-
Z option proving the rule
" Banking Facilities.
h Banking news IN general does not con-
\ yey much concerning the financial and
\ banking movements in Asiatic Turkey.
Some idea Of the development Of that
country may be gathered from consular
Information regarding Smyrna, which is
4 howing remarkable Industrial activity,
4 ni,way Improvement and extension OF ag-
rcultural districts. During 1911 building
Permits numbering S51 were issued In
4 snyrna The banking business OF Smyrna
H e carried on by a number Of small banks
h and branches Of the Imperial Ottoman
n bank, the Bank OF Athens, the Orient
\ Bank, the saloniki Bank, Credit Lyonnais,
H The Austrian Wiener Bank and the
N Smyrna Bank Otd.). The Bank Of Nifty
/ sne, which operated IN Turkey for many
h years, suspended payment In July, 1911.
\ and It's liquidation was decided on The
n Smyrna branch Of the Imperial Ottoman
Bank which is the Official bank OF the
\ Turkish government, practically controls
The finances Of the city. II fixes and reg
alstss' exchange rates and has branch
cfdoes all over the province. The Smyrna
Bank ultd.), which is British company
iorned in 1910 includes in It's functions
he loaning OF money TO cultivators IN the
interior The establishment OF a BRANCH
81 the Austrian Wiener Bank, Of VienHe,
OF recent date.
Besides their regular banking functions.
NE Smyrna banks I'm many Instances act
8 customs brokers. clearing goods from
Ine custom house and storing them in
her storehouses It has long been a
natter OF complaint by the bankers that
'1s'ness is becoming difficult on account
keen competition among the banks A
merchant can borrow from several banks
'he same time, making It difncult 10
'o'ain correct information as 70 the finln-
va standing Of each client
interest rates are subject 20 great fuc-
S0aaon-fEom % 10 per cent. The city
Almost entirely dependent on Europe,
'Na particularly France, for cash, and
ono!uons IN those countries regulate
"cal Interest rates, but there is always
margin Of 2lf 70 per cent that forms
vac pFont Of the banks. Local depositors
'7'siVe % to per cent interest.