630 



PENNSYLVANIA. 



says the financial condition of the domestic associa- 

 tions is sound, and as a rule they are well managed 

 at comparatively small cost. 



The total assets of the 1.131 associations char- 

 tered under the laws of the State are $99.519.917.50 ; 

 receipts and disbursements, $44,505,361.93 ; borrow- 

 ing members, 79,144 ; nonborrowing members, 174,- 

 716 : number of shares in force at end of the year, 

 1,796,311; admission fees received during the year, 

 $110,203.71 ; number of foreclosures during the 

 year, 857. 



The following shows the condition of foreign 

 building and loan associations doing business in 

 Pennsylvania : Number of shares in force in Penn- 

 sylvania, 262,185; loans on real estate, $3,367,- 

 555.25 ; loans on the stock of such associations, 

 $67,348.69 ; value of real estate owned, $67,487.65. 



Banks. Eight new national banks were organ- 

 ized in the State during the year, with an aggre- 

 gate capital of $520,000. 



The First National Bank of Lebanon suffered a 

 loss of about $185,000 by the dishonesty of the 

 cashier. The defalcation was discovered in Novem- 

 ber, but had extended over a period of six years. 



The private banking house of Gardner, Morrow 

 & Co., at Holidaysburg, the oldest in central Penn- 

 sylvania, closed its doors Sept. 18. 

 * Silk Manufacture. The Bureau of Industrial 

 Statistics rendered a report which shows that there 

 are 65 silk manufacturing plants in Pennsylvania, 

 with a total of 557,412 spindles and 305 hand looms. 

 These establishments give employment to 13,815 

 persons, who were employed a total number of 

 forty-eight weeks during the year. The aggregate 

 amount of wages paid out in the manufacture of 

 silk in the State in 1896 was $4,062,292.06, a per 

 rn/>ifa of $295.50. This is exclusive of salaries of 

 clerks, salesmen, and officers or members of the 

 firm. The gross value of the product for the year 

 is placed at >24, 184.583.84. 



Coal. The output of anthracite coal in Penn- 

 sylvania increased from 46,358,144 long tons in 

 1894 to 51,783,122 long tons in 1895. The value 

 increased only about $3,500,000 from $78,488,063 

 to $82,019.272, showing that anthracite coal was 

 cheaper in 1895 than in 1894. The product of 

 bituminous coal increased from 39,912,463 to 50,617,- 

 446 short tons, valued at $35.902,678. 



Land Warrants. The Board of Property has 

 decided that where a warrant for vacant land has 

 been granted by the Commonwealth and a return 

 of survey made in pursuance of such grant there 

 can be no forfeiture of the rights of the warrantee, 

 even though a patent has been granted, unless it 

 shall appear that fraud has been committed to se- 

 cure the warrant. The board also decides that 

 where a warrant has been granted for vacant land, 

 a return of survey made, and only a portion of the 

 purchase money paid, there can be no forfeiture to 

 the State by reason of failure of the warrantee to 

 pay the remainder of the purchase money. 



Historic Building. On the anniversary of 

 Washington's second inauguration, the apartments 

 where it took place were opened by the Pennsyl- 

 vania Society of Colonial Dames, restored to what 

 they were at that time. The room was originally 

 the Senate chamber of the United States. The 

 building, which the city has turned over to the 

 society, is ,at the southeast corner of Sixth and 

 Chestnut streets and adjoins Independence Hall. 



Statues Unveiled. An immense crowd of vet- 

 erans of the late war and others gathered on the 

 battlefield of Gettysburg, June 5, to see the unveil- 

 ing of the equestrian statues erected by the State of 

 Pennsylvania in honor of Gens. George G. Meade 

 and Winfield S. Hancock. The work was begun 

 about two years ago, under the direction of a com- 



mission, of which Gen. J. F. Taylor was president, 

 and has cost over $100,000. The Hancock statue 

 stands on a hill nearly opposite the National Ceme- 

 tery gateway. It is ten feet high, and stands on a 

 pedestal of blocks of granite, the whole 17 feet long, 

 10 wide, and 12 feet high. The horse and rider 

 face the southwest, and Gen. Hancock appears to 

 be directing the movement of the troops in that 

 line. The statue to Gen. Meade stands on an eleva- 

 tion west of his headquarters and near the " bloody 

 angle." It is almost 15 feet long, 8 feet wide, anil 

 10 feet high. 



Delaware River. A conference was held in 

 July of representatives of the Government, the city 

 of Philadelphia, and commercial bodies in reference 

 to the expenditure of the municipal appropriation 

 of $500,000 for the improvement of the Delaware 

 river channel. The recently authorized city loan of 

 $2,000,000 sets aside half a million for work on the 

 river. It was practically decided to begin work on 

 the channel as soon as possible, and the general 

 opinion was that as soon as the extensive operations 

 planned are completed Delaware river will be ade- 

 quate for all the commercial necessities of the port. 



Political. The Republican State Convention 

 met, April 23, in Harrisburg, with 289 delegates. 

 Those from some of the counties had been in- 

 structed for McKinley, but the majority were for 

 Quay. In the only case of contesting delegations 

 the Committee on Credentials reported in favor of 

 the Quay delegates, and the report was adopted by 

 a vote of 200 to 72. Auditor-General Mylin was 

 made permanent chairman. The platform began 

 as follows : 



" For fidelity to the principles of Republicanism 

 Pennsylvania holds the first rank among all the 

 Stairs. Year after year it has returned great ma- 

 jorities for the candidates of that party, with no 

 selfish demands for recognition of any of its own 

 citizens as a national candidate. The time has 

 come when the State, which has so long and faith- 

 fully led the Republican column, may justly and 

 properly submit its own preference for the Repub- 

 lican nomination for the presidency. In the presen- 

 tation of the Hon. Matthew Stanley Quay, the Re- 

 publicans, not alone of Pennsylvania, but of the 

 entire Union, will recognize one of their foremost 

 leaders, wise in counsel and brilliant and able in 

 action, at once the type of the American citizen, 

 scholar, soldier, and statesman." 



After declaring for protection and reciprocity, it 

 said on the currency question : 



"The Republican party has always maintained 

 the national honor and credit. It enforced the re- 

 sumption of specie payments. It kept faith as to 

 every debt created for the preservation of the Union, 

 and has paid the greater part of it in accordance 

 with the spirit and the letter of the laws under 

 which it had been contracted. It largely reduced 

 the interest charges upon the balance of the debt 

 by refunding at lower rates. It substituted for the 

 fluctuating and inadequately secured notes of State 

 banks a uniform national currency of stable value, 

 and of equal purchasing and debt-paying power. 

 Faithful to its record, believing that the people are 

 entitled to the tise of the best money, and anxious 

 to restore and preserve the industrial and commer- 

 cial prosperity of the Union, the Republican party 

 favors international bimetallism, and until that can 

 be established upon a secure basis opposes the coin- 

 age of silver, except upon Government account, and 

 demands the maintenance of the existing gold 

 standard of value." 



It called for liberal pensions and restricted immi- 

 gration, and on State issues said : 



" We reaffirm the declarations contained in the 

 State platform of 1895, looking to needed i-eform 



