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Stock Exchange and theI Political…


Stock Exchange and the I Political Crisis. THE CANADIAN BANK FAILURE. The announcement of the failure of the Fanners' Bank of Canada has naturally not created a favourable impression in the financial district, but at the same time, it would be untrue to suggest that much importance is attached to the failure. Where the suspension becomes a matter for special regret is that it tends to query reports of the success of the agricultural season in the Dominion. These have been coming through for the last three months, and have for the most part baen of a very rosy character, but at the same time railway traffics have not altogether borne out statements to the effect that the harvest has been a generally excel- lent one, and that the agricultural com- munity is in a highly properous condition. The conclusion one naturally jumps to in the absence of full details regarding the Farmer's Bank failure, which at present are not to hand by cable, is that the institution has become embarrassed though difficulties among its clientele, which would certainly suggest that the season's profits to the fanners have not been of such a bumper character as in some Quarters there has been a disposition to assume. Of course one may be quite wrong in attributing the fail- ure to the most obvious cause, just men- tioned. The bank may have got into difficulties through speculation or through injudicious management, and its collapse may not have been in any way directly at- tributable to inability among its clients to repay advances. Until further details come to hand an explanation of the situation must be in the nature of guesswork, and therefore it is useless venturing cne with any preten- sion to finality. It is satisfactory to know the Canadian Rankers Association is safe- guarding the interests of depositors; This must not be taken to mean that the Associa- tion is assumiing the liabilities of the failed bank. It merely conveys that the Associa- tion has the affair-s of the bank in hand, and will deal with them to the best advantage. The bank's liabilities at the end of October were, apart from capital, 2,670,000 dollars, while assets at the same date were slightly larger than that figure. TASMANIAN METALS EXTRACTION. Thi meeting of the Tasmanian Metals Extraction Company last week was a highly satisfactory function. The Company con- trols the whole of the output of the Rosebery Copper Mine in Tasmania, which has 250,000 tons of rich ore blocked out, on which the Tasmania Metals Company by its special process is making k2 per ton profit. Sir Edward Durand, who presided at the meet- ing, was able to state that all the initial difficultits of the undertaking had been over. come and that the immediate future held very cheerful prospects. The financial posi- tion of the Company is thoroughly sound, and has a subscribed capital of £68,000. Dividend payments may be looked for with some confidence next year. The Company has already bought ore to the value of £ 14,000, which its experts estimate will vield a net profit of £ 25,000.

--40-'".--. Tuberculous Cows.

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