[Volume XXV
THE CHICAGO RANKER
30
the price of silver, was $958,700 less.
Colorado leads in the production of both gold and silver, having furnished $20,897,000 of the former and $7,587,000 of the latter metal.
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October Disbursements
Total interest and dividends payable by leading various corporations this month will amount to $148,-705,437, of which dividend disbursements will furnish $70,505,-437, or a decrease of $14,953,125 as compared with the corresponding period a year ago.
In brief, this heavy decrease is due to the depression in general business, which forced a number of industrial corporations to either reduce or pass their dividends.
On the other hand, interest payments show an increase over October last year of $2,200,000, which finds ready explanation in numerous bond and note issues.
Rio de Janeiro Loan
It has been reported that the city of Rio de Janeiro, Brazil, proposes to issue a $50,000,000 loan of 5 per cent interest to take up the existing debt of nearly $36,000,000, of which nearly $31,-000,000 is funded and over $5,000,-000 is floating debt. Out of the total debt something like $22,000,-000 is payable in gold. The balance accruing from the reported issue of $50,000,000 would presumably be applicable for current improvements.
Boston Building in September
Permits for building construction in Boston during September numbered 125, of which 108 were for wood construction and 17 brick. This is the largest total for any month since June, when 131 permits were issued at City Hall. As compared with September, 1907, it is an increase of 56, or 44 per cent.
*9*
Canada Emergency Currency Law
The new emergency currency law for the Canadian chartered banks has gone into force, allowing the banks to obtain extra currency from the government if urgently required to move the crops.
As the banks have a very large supply of cash on hand, it is not thought that the new law will be needed by the Canadian banks this year.
V
New Russian Loan
The “Rjetsch” says that the forthcoming Russian loan, which will have to be approved by the Duma, will amount to from £48,-000,000 to £72,000,000, of which £32,000,000 is intended for the redemption of treasury bonds.
The July 1st interest of the John R. Walsh loan at the Chicago Clearing House has been paid and the October 1st interest is due.
Coin Weighs 31 Pounds
C. F. Engstrom of Jersey City, coin collector and antiquarian, has in his possession one of the four largest coins in the world.
Mr. Engstrom’s coin was minted in 1659 and bears the imprint of Charles X, of Sweden. The coin is of bronze, oblong, twenty inches long by thirteen inches wide and weighs thirty-one pounds. It is stamped in the middle and at the four corners with the royal stamp of King Charles, but is otherwise as plain as a slab of slate. In the year 1659 money was not in free circulation in Sweden. The ordinary citizen used to pay most of his bills in farm products and labor, and those who had money used to keep it in their cellars in large slices. Enterprising burglars were unable to do a thriving business at the time. The average man’s money was safe from all except professional strong men.
In 1661, Sweden was at war with Russia. The Russians scuttled a Swedish man-of-war in Riga harbor. In 1901 Riga harbor was dredged by the Russian government and the ship raised. The four big bronze coins were aboard. Two are still in Russia and one in England. The fourth came here to Mr. Engstrom on the Adriatic last Thursday. On its face the coin is worth eight Swedish thalers at the rate of exchange in 1659. As an antique it is worth $500.
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First State Bank of Weimar
Commissioner of Insurance and Banking Love has directed August De Savala, bank examiner, to take charge and close the First State Bank of Weimar, Tex. The bank was organized on August 19th, with a capital stock of $25,000, and has been in operation about a month. Mr. Love gave out the following statement: “The First Bank of Weimar was closed because of an impairment in its capital stock. The bank has only a small amount of deposits, and has ample cash to meet all claims of depositors and other creditors.”
N. A. Sayre of Temple, Tex., was appointed special agent to take charge of the bank until it is determined whether or not it can be enabled to resume business.
Gold and Silver Output
Washington, D. C., October 14. —The production of gold and silver by the mines of the United States for the calendar year of 1907, as determined by the Bureau of the Mint and the Geological Survey, acting in conjunction, aggregated 4,374,827 ounces of fine gold of the value of $90,435,700 and 56,514,700 fine ounces of silver of the commercial value averaging 66 cents an ounce, or $38,299,700. As compared with the output of 1906 a decrease is shown in the value of gold of $3,-938,100, while the production of silver in 1907 was only 3,200 ounces less than for 1906 the commercial value, on account of the decline in
Not Spending Money
The vice-president of an insurance company having 5,000 agents in the West, says:
“It is a fact that business is exceedingly dull and collections bad. Many of the manufacturing plants are shut down, and those that are in operation are only running about half time. Stocks of merchandise are low, and every man puts off paying his bills. Why this is so. no one can explain, for the West has been blessed with good crops and prices are extraordinarily high. I have talked with many farmers, and they are feeling good and appear to have plentv of money (this is shown by our farm collections, which were never better), but neither they nor the workingmen are spending anv money except for necessities. Business appears to be at a standstill, and I do not look for any improvement until after the Christmas holidays, but many people anticipate a revival of trade after election.”
Incomes in France
The annual income of the average Paris household is placed at about $730, according to statistics gathered by Andre Lefèvre, president of the Paris Municipal Council. In the fashionable quarter of the Champs Elysées the annual average household revenue is said to be about $5,600: in the near by Faubourg Saint Honoré, $3.700; while in the Madeleine district it falls to $3,500.
As to the incomes of certain professional men in France, it was ascertained that out of the 2.000 advocates practicing at the Paris bar only about 200 earn over $2.000 a year, and only about 50 receive above $10,000.
The number of physicians practicing in Paris is placed at 2,500. but only about one-half (1,200) of these make more than $1,600 a year. Dentists do somewhat better: a fashionable one can easily earn $6,000. while in some cases this figure is greatlv exceeded.
In French families of the humbler class the living expenses in manv instances are met only by the wife contributing to the common fund out of her marriage portion. Oftentimes this portion or “dot” of a French girl is used in part to establish the husband in business.
Saleswomen in the largest department stores can earn $60 a month. I\Tale and female house servants receive, respectively, in the neighborhood of $20 to $8 a month. The bottom of the scale seems to be reached with the poor seamstresses who toil from dawn to dark; in the making of children’s clothes. One cent an hour is indicated as their stipend, but if exceptionally clever they earn 35 cents for twelve hours’ work.
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First National of Cortez
The Cortez National. Cortez, Colo., has been changed to “The First National of Cortez.”
Royal Trust Company-
Bank
:: Royal Insurance Building . 169 Jackson Blvd., Chicago
A State Bank ^7 Established 1891
Interest Paid on Deposits
JAMES B. WILBUR, President EDWIN F. MACK, Vice-President and Cashier JOHN W. THOMAS, Assistant Cashier
THE
Chicago Title
AND
Trust Company
Furnishes
Complete and accurate abstracts of title.
Reliable and collectible guarantees of title.
Expert service as administrator, executor, guardian, receiver and trustee at the lowest prices consistent with the maintenance of adequate reserves for liabilities on guarantee policies and abstracts ; superior service and a complete and carefully constructed plant.
Assets Exceed $6,000,000
No Demand Liabilities
THE CHICAGO TITLE AND TRUST COMPANY 100 Washington Street
President............HARRISON B. RILEY
Vice-President ..........A. R. MARRIOTT
Vice-Prest. and Trust Officer ...WM. C. NI BLACK
Secretary..............J. A. RICHARDSON
Treasurer..................W. R. FOLSOM
GRAHAM & SONS
‘BANKERS
STEAMSHIP AND INSURANCE AGENTS
ESTABLISHED 1857—5 J YEARS ¥
INTEREST ON DEPOSITS, ACCOUNTS SOLICITED, MONEY TO LOAN ON REAL ESTATE.
Open Ebenings Hours 9 a. m. to 9 p. m.
X 34 West Madison Street Chicago