New-York tribune., 1917-12-25
ReAexes Of War

German banking event OF lmpol
.a.oo is tho ABSORPTION, just announced
of five more provincial banks by inc
ni.cc,to-oesellschaft. In the spring
.t,is year the Deutsche BANK III
ed il, capital by sG,5oO,OOO to SCo'-
ga ooo. at the some time absoroing INC
ectlosi.ebe Bankverein and the Nord-
d,,,scbe Krcdit Anstalt. Recently the
Drcsdner Bank took over the knine-
land -Westphalian Disconto- -geseI'scnai' =
~ O.. the same time increased It's
oo,ital bv $4,000, 900 to s5O,OOo'ooo'
while the Disconto-gesellschait' aiter
absorbing some time ago the khein-
;~cbe Rank and the A. Schaafhauseh-
echo Bankyerein. took over last spring
Tho K6nicsberg Vereinsbank and en-
t.red into close relationship with the
Hamburg Vereinsbank. The five banks,
which are now being definitely taken
over have in the past all been in more
a. less close relationship with the DIS
conto-gesellschaft. Their names are
the Nardeburg Bankverein, the west
phalian-Lippish Vereinsbank IN Bielfeid'
tho West German Vereinsbank, the
Groreu Bankverein, and the Rhine
Bankverein. all in Middle and west
Germany. The increase IN capital OF
the Disconto- -gesellschaft itself VIII be
$500. 900. making its total capltal
S77.50O. 900. and maintaining for the
bank the first place among German
banks if capital alone is taken into
account. although with capital and re-
serves combined the Deutsche Bank
still stands at the head.
The largest loan ever contracted IN
Sweden by a private concern was re-
Gently arranged by the TrafikaStiebola la
get Oranges erg-Orelosund. 1t IS for
4O.OOO.0O0 crowhs (S15000,OOO) at 55s
per cent interest, aud at par. Inc
loan is being laudcred through the
Skandinaviska Observation-Disclosures in
Stockholm, and the proceeds will b.
applied TO payment for eighteen iron
ore steamers ordered from a Gothen-
burg yard. The GranGesberg company
has deemed it expedient to adopt n
loan policy for this deal instead of the
issue Of fresh shares, as the cost or
the feet is intended to be amortise !
through it own earnings. The loan is
TO be amortised during the years 1922
1912 with n right of converting IN and
after 1920. The Grangesberg COM
pany. besides owning or controlling the
greater portion Of Sweden's iron ore
production both in Central Sweden and
Lapland, owns several railways and a
number of steamers.
A definite gauge Of the efforts Of the
Indian government on rising silver
market to meet the demand for coinage
under war conditions highly favorable
to Indian trade is provided by the re-
port on the working of the mints at
Calcutta and Bombay for the year
ended March 81 last. The silver coin
ace-rupees. half rupees and quarter
rupees reached the enormous total OF
307 100000 rupees, equivalent, even at
the standard rate Of exchange, to more
than S1000G0,000, as compared with
some 1G.25O,000 rupees N the previous
year. The value of the nickel coinage
was 2,li3.000 rupees, and of the bronze
coinage 266 900 rupees. In addition.
coinage to 4 considerable amount was
undertaken on behalf OF the Egyptian.
Straits Settlements and other govern
ments. the silver portion being the
equivalent OF upward of 15000,OO0
rupees. Besides the usual consign-
ments of the products Of the Indian
gold mines, the Bombay mint received
periodical shipments of gold from the
South African mines for safe custody
on behalf of the Bank Of England. A
part of this raw gold was purchased
and transferred 20 the currency gold
bullion account. The amount so trans
ferred was valued at 52.500,000 rupees,
of which nearly 100000 had been
sold TO the public at the end of the
year. In addition TO the abnormal
coinage work, both mints contributed
substantially to the output OF muni-
tions.
Plans have been drawn up for the ex-
tension of the port of Copenhagen,
which, it is estimated, will cost over
S25,OO0,000.