Evening star., 1914-09-27

The city Of Chicago. second centra! re-
serve CITY,. had 25.12 per cent. the frac-
ton representing the close ma margin M IN N
national banking act st. Louis had bu'
1885 per cent, showing deficit for CEN
trail reserve city of 5.64 per cent. which
might be criticised.
showed 25.s9 per cent: Milwaukee, 1888
per cent; Richmond. 1852 per cent:
Omaha, 24.05 per cent; Pittsburgh. 22.Sl
per cent; Boston. 22.79 per cent, and
Philadelphia, 25.15 per cent.
These are but a few of the ffty-one.
more or less, reserve cities. Maintain
Ing the average as shown in these ng-
ures. 1t is evident that quite number
Of the larger banks. have been over
have been too close in their operations
during the present emergency.
Government Money.
The generosity Of the government In
its action to prevent any suffering Of
business and industry by inability
to obtain funds from banks and bank
ers has never been more evident than
at this time. It has been putting out
funds literally. In this city alone the
national banks, the only ones favored
in government relationship. still hold
$3,918,S25 government funds. less the
GOV
by some banks.
And this liberality has been extended
elsewhere in proportionate ratio.
Financial Notes.
The Westinghouse Air Brake Com
pany has declared regular 2 per cent
dividend, payable october Is, to
shareholders Of record September 80.
The city Of Chicago is in the market
for $1.5O0,0o0 4 per cent twenty-year
issues. At the present time they will
probably go under par.
Northampton, Mass. has Just sold a
home bank $4,000 4hs at 1oe.ss.
Mccall corporation declared regular
1 per cent dividend.
Net earnings of the California Petro-
1eum Company for the month OF Au-
gust. before allowing for depreciation.
s9t ;S as MONTH 1878 si
liar figures for the eight months end
pared with $1,423,S93.
g. Local Securities Sound.
There is no, reason why local secur-
tiles should show any material re-
duction, save in instances where much
stock may be held as collateral for
loans. The very generally distributed
stocks have as much actual merit under
them as they did before the war. There
ars. and will be. just about as many
people travelling back and forth on
the traction lines; the receipts Of the
gas companies will not show any re-
ductions. but rather the other way with
the coming Of the long evenings; the
IL doing splendidly. as
ing the progress Of linotyping the
world over.
There isn't an issue Of bonds on the
list that is not considered safe by
the banks. Moreover. these same banks.
blessed with a plenitude Of money.
able to pick and choose among bor-
rowers and as to collateral, will not
be likely to lessen their holdings of
bonds, even though the market opened.
Expert Opinion.
John R. Heseman, president Of the
Life Insurance Company,
who has been on the continent since
last April. returned via the Mauretania.
He said that, in his opinion. the war
would be- q short one, because Europe
could not afford to carry it on much
longer
THE weight and size Of the war will
stop 1t" Mr.: Hegeman said. "who is
when one country went to war, it bor-
rowed money from another country,
but now nearly all OF the countries
OF Europe are engaged in a war. and it
fs too costly. Who is going to pay
the wages of 100000 men? Who is
going to. furnish the money for l5,0O0.-
BOO meals daily? Who IL going to sup
ply 100000 pairs OF shoes q month";. -.
This European war will be the
greatest boom that the United States
has ever had" Mr.. Hegeman added.
But there will be no revival Of busi-
ness until the end Of the war"