The Washington herald. [volume] (Washington, D.C.) 1906-1939, 1913-01-28


its regular quarterly dividend, the largest
of the list:
Washington Gas NEUTRALITY-SUSPICIOUS.. s156, 600
German-American insurance.. 5000
Grand total OBSERVATION-DISCLOSURES. S4SI,GOO
These are reasonably large disburse-
ments, and should be reflected in the
future of the local security market. the
more so as the great bulk of the distri-
buttons will go to Washington investors.
Money Easier.
Money is easier again and merchants
and other borrowers have little trouble
IT securing needed accommodations, II
entitled to the use of credit The ruling
rate on collateral loans is ) per cent.
and on commercial loans 51zaS, though
some favored customers count on per
cent
The unreasonable weather has been a
serious menace to business in goods that
should be seasonable at this time of the
year. Naturally building operations have
fallen off materially, and real estate
trade as well. This is no time to show
suburban realty and a poor time to talk
city homes.
The result is increased funds. but at
the expense OF reduced business opera
lions
la New York rates were down to and
even = per cent yesterday, business there
showing the same decrease, caused by I'M
seasonable weather very largely.
At the same time rates are relatively
high in Europe and the export of gold
continues to Paris and South America
much is it did in 1909, when money at
home was easy all year. Since the be-
ginning of the year the New York banks
have gained $50 10000 from the interior,
100000 increase as compared with last
year.
The drift of credits from America to
Europe is said to be due TO the higher
rates available for money on the other
side, where, If war goes on, high rates
may be made; if establishments are car
ried out, much cash will be needed.
1t is not a pleasant subject, but 1t is
nevertheless a fact that the change in
administration and the policies that may
be put in force have slowed up business
in many industries until line on Wilson
policies and tariff reforms can be Sc
cured.
No sherman Law in Germany.
Made in Germany" has been given
the greatest impetus through government
support of. industries, through a desire
to see manufacturing establishments
larger and more profitable. There is no
desire there to smash anything just be-
cause il is big and powerful.
In this country the ambition of the
Lawmakers seems TO be to smash a
trust" to put II in hook" prosecute
criminally the men who have builded
well. industrially, even if they did make
money on the scheme. Over in Germany
the trust is boosted, 'fnterlocking" direc-
tories are encouraged, and the fact that
many great corporations are differed
and directed by the same men is the
cause of pointing with PRIDE
A very interesting brochure from the
Dresdner Bank of Berlin plainly shows
Just how our German cousins look for
industrial success to the big combines,
the bigger the better; to great banks, the
greater the better.
The Dresdner Bank, which has a CAPT.
tai of 200, 10000 marks 1000 and
total assets of 1.452, SO, S6S marks (s263,-
100000 points with evident pride to the
fact that it is represented on the d.
rectorates of nearly 200 great industrial
joint stock companies.
The bank brings out the pertinent point
but one which is apparently over
looked by reformer-critics in the United
States-that by combining the loan and
finance business the banks have greatly
assisted the rapid development of Ger
man industrial companies. The great
banks keep continually in touch with
a number of Industrial companies. and
IN this way they are always cosnizant
of the state of the German industrial
pulse.
The companies on whose directorates
the Dresdner Bank has representations
have a combined capitalization of 2610,-
10000 marks (SS22, 900, O0o)-a much smaller
money total, of course. than that of
the companies in which the First Nation
al Bank of New York or J. P. Morgan &
Co., are interested, but in number far
exceeding the combined total of the two
American banking interests.
In the following table are shown the
affiliations OF the Dresdner Bank as COM
pared with those of the largest banks
and banking firms Of the United States.