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PAGE 8 CM SEE NO LET-UP IN BUSINESS W. J. Gray Believes Prosperity On “ Timtiround TRADE BEYOND EXPECTATIONS ‘•Buoyant Spirit of Suc cess Has Been Ranr pant All Season* 7?V WILLIAM J. OKAY rr*«l4ral lta«kfr»* < Nk UJt Uutrou, in emuu)'in »lth the country at Urge, ban vn ! joyed an era of unexampled pros j parity. All I'ical factories hav* m-> i. | taxed to their limit, and tn conn* qu«-m«- labor ha* b* en in cot.ri'i demand and wages bat* l*een higher With money thus a-pienty there ha.- been fre<- upending and the ret.il. iiw*n bants* trade ha.* been beyond »he utmost expectations. There l a ps> cbologlca) element In business and the buoyant spirit of eucre* . ha* been rampant The great volume of busin**** J transactions la indicated by the bank , clearings which hAve never been a- j high a* during the year Deposit* j in bank* have increased to a high point and bank reaenres have been j large Naturally intere>t rate* have ( been low, and thla fact ha.* attr-e. t- j ed borrower* j(o that loan* and dt* 1 conns at the banka show a lara* I Increase, notwithstanding which, however, reserve* have remained large and at no time haa there been any acarclty of loanable funds Re ports Indicate, however, that Large Institution* have been able to a great extent to carrv their own bills receivable While aome of thla Increased bu«i neea may be attributed to war con ditlona prevailing in Europe, a large portion la due to the growth of in ternal trade and there ia no reason why thla condition should not con tlnue even if the war were to end The only discordant factor has been the Increase In the cost of ltv tag. the burden of which haa affect ad moat seriously those with fixed Incomes. Naturally the necesearies •f life have gone np In price wUh ail other things. Money in Its or dinary sense haa last a large pa; of Its purchasing power. The ooun try haa risen to a higher general plane of prices and gradually wage* and salaries will adjust themselves to the now order. While the record of «he ms f Is In foresting tbs country Ia chiefly con osrnsd with the future. At the pres sat time there ia nothing to indi onto that there will be any change In prosent condition* All should . remember, however, that business is Mks a pendulum swinging. When the high point is reached there must W stuns drop Care should be taken that there be no undue inflation With proper precaution, however, there Is no reason why tmalne** Should not continue good During the last month there baa been a de •Mod Increase in rates for' money and thla higher rate ia apt to con tinue, particularly If basin**as cor. tinuee to expand All tn all the out look for American business is good AMERICAN STATE JOINS CLEARINGS ASSOCIATION The American State bank wa* ad mitted to the Detroit Clearlcr Honae ereoeiatloo. Friday, ite busfne** bar lac Increased to the extent of tVtf),. 1 #OO clearing* a day. The bank's fcfbotlnir* show an increase of * | 900.000 for the year. Bi'> The rejrulnr quarterly dtviden 1 bf one and one-half per e»*nl w»* «l»o GjmeUrnd Friday with an extra cash ■ dividend of one-half of one per rent. Staking the total for the vear right tier cent Start the New Year Right By Opening a Savings Account With The Peoples State Bank Cor. Fort and Shelby St* No fads - Just service and security. Branches for our Convenience •«h*r and Twanty third. Canton. ror Grat ot. Grand Rlv*r and Brooklyn Chen*, cor. MHwaukte. 1200 Jafftraon W Oratict cor. Riopeli*. Michigan Ave and Junction. oarfl«ld cor. Russell H Washington Blvd Mack eor. Baldwin Russe'l. cor. Lyman. ! J«R«r* o n. cor. Per tei*. Cor. Woodward and Piquette. Resources Over Seventy Million Dollars Detroit Bankers Believe Bumper Times Will Continue ■ jH jlft 1.,» tv.t iToUijicni k*tnut banker* -John HJr -on p*-redder - ' ■he Peninsular State bank, at ♦fcejeft. and William ' ray, vice-pres f the First rtOv 4 Old Detroit Nations:, a’, he i ■ Tlm*e reviews of trad* conditions for the past year - h sonje'hmg .tb.'ut future prospect* They agree that the outlook t« hrtc.. i’tho Mr*,J- ns* n warns :.hat there mav be depression in »po»s when war ends New Developments to Offset Depression Following End of War, Says Prominent Banker BY JO.'JS H /OHS SON. I‘iv,l4ril i»f l'rnln>il«r *Utf Seek Unusual proepe-it.y ha? <*-en >our> for ISLtf. with the result mat the urrrv a.* a mho> u * n a ‘'"or.tr and healthy c>>nd.*ion. aside from the teraptatioD on the part of s few tc indulge in th • attractive b- t and *c g»-rf u* speculation.* of the' hour As to 1917. j am moat optimistic The financial institutions rrf mis country havv been working as a un:t and exercising unusual caution m the holdiiic dewn of build.ag .ond manufacturing expansion to neces sities rather than speculation on or Qiacoun'.ms of :be luiur* rhe war will cease some of th®«e days, the sooner the better, from a commercial as veil r.« a humanita rian s-fandpeint. and when if does, there will LD*;ue«ucnjbL> be depres sion. but It will b*> tn *pots ra’ber than over the whole country, ancf I am certain that there will be devel opments along line.* now neglected or overlooked that will eq lailxe the BUILDING AND LOAN SOCIETY GROWING FAST About three years ago th* De troit if Northern Fhi.rt! lag it I*oan association, of Hancock, Michigan, opened an office In De iroit fer the purpose of landing money for bull ling fc<sr,-*, on s h» building 4s*c<ia»ioc plan Thu mutual co-operative home building plan was quite unknown a this city at that time but th“ merit.* sc I ad vantage* which it offered qu'ckiy won fner.Js. :ind since '.hat Mme the association has Edvanrej. wer a million and a half dollars tr Itciroi: home builders, and ha* assisted m the building of over « *' ijnme* This pracMr*} plan for solving the housing problem is so highly appre ciated that the ifltc* of the assort* tlon a' No Id Orand Raver ave J* one of the busiest business offices .n Detroit. During the pas: season if La* been furnishing money to help the building of 50 homes eneb month, and ha* paid cut about 1'.00,- OOfi each 30 days . The a**nriatlr»n has adop’od the trad* name “Homo of rbrif* bv whkh It bar be~otx'e wir*rl> known It* plan of sarin** ha* become quite as popular aa it* plan of lenrßng. and hundred* nf tfcrifty people have opened savinr* fund aocounta »t»h this assort*’ion. attracted by the ab solute safety which Is afforded by its *y*tem f first' inor.xa*ee on homes, as w«ll a* b> the fact that tlie-s deposit* ucier the mutual co operative p!t» op which ’he aa*«r rlation is oprr°.*ed. ree*i~e all th« fToflta which the association eirna. drawing l per real interest, row pounded semi-annually. Th» year Ju«t t }r»\rg been is 3WHlwb&/ V: .* altuatioe juu r* T 'J* a pretty f.nr average The recent st **•* fern* 1 * ' at*’ been a :»le sing ?r. 4 -►..:-«? T have bfXKifh? ptsuiut r > x ‘fn*f of us* 4a:.* i of ’::• •■'< *•> aet rich quick u. t.scv >f tu have found that > ..r .4 fri. Qt: J ~4» till.leg* »a- sottte'*r. it of a philc.-f pher *h»*n he Raul ’i f t. •» » .r# war »o become poor » ~j ' > *rv to get rich t?u:ck Manufacturing and comme- ai bnatne*» Is m a mot healthy on* alt Ice There are no c•> *r .«••. *» A> * matter of fact the sho* ;« cn ♦he other foot ?h-->* is a scar.*ity of raw nxaterlvi an a «■ on*e /; .* a’ abnormal pro- f r the n*ce««i?i» - The Mtua'soo ;> na.-’.'iU in th* sro-Id * ►t«tor •• tv* vs a!l b** on the alert for d«v*lopm* nt* iha' no ?n* can predict < aot.cn and con «erTat: rn ;n aJ? bus.no*- to v*-s a p e moat advisable Vl rh thle in rr.;nd and with ’be cobweb* brushed from our gr«.- tracer. w* n**o not worry about the coming ;.>xr cne of unus'inl proa perl? ' for of Thrift’*’ and the hlan ** -best •*; »he end of the war will -bow a growth of cn- rrri 11:c.i dollars o * a< practic2.ilv a *r'*w?h oft) pee ren* in cn** year " H V Haymaker f * th* Detro-f n: tnafer. XftW >OfXK PRODI PC N'EtV \ RK l.<* JO n ...f r'-il! U” larg*-.: i •* fra i; ’ ♦J'- so •.*- ?“M Wt I* * ‘ ’. ' :/* r Ft » brrr»r . *ntrff i.--\ ** • . f i muscov*.t--> I'* t< ' • re-;r»<i firm cur Jouf 11, r. : rj ■ j” y r *• ? «ra* - t ■ | F "e* K: V - -T,r» !( w r» ii »r*fa! ». r * t • i*.. i.. r;* r •'•.’-* \ '■ ■ 11 \ ' »*r r***•••/■ 1 fAvOrv t :rl<*y*, ’ta't > ~ r. ?; » ‘ f< Win. Vti. *'• .. *• • - ST SX’ J ,P turk«y« t * A ' j r , v- ~.v. r * <** we« 7 T !%r «♦*?*• rr k fr> «ktr *» M-r.rm - • r* ! y #t! r The Dime Savings Bank DETROIT. MICHIGAN Capital. Surplus and Pr fit ' * 2.200,000.00 Resources - - ,- --------- - $30,000,000.00 WILLIAM L rVTNO PTO VE President r, C. Hit Fit WOOD As 0 ’ CwUhler GEORGE II BARBOVR Vtr.-Pr- d* n*. , \j g CARNEGIE. Asat. Cashier CHARLES A WARREN Vice President .. £ PA-RTTUTXiE Asst. Cm abler PRANK F TILLOTSON, A*'\ Caahi-r ,EO T B^ES r St A,ld;? " r DIRECTORS WILLIAM LIVINGRTONE - <.f.oroe h. BAhßOun HENRY FORD james n mckay BETHINK DVJTTttJ* „* \rr,USTt'R :m:LT.WAGWf HORATIO N HOVEY R H FYFE HUGH WALLAG» R. H WEBBER , CHARLES A. WARREN Condensed Statement Showing Increase in Deposits Commenced Business Va/ 1, tiff'* May l, 1888 757,840.99 May 1. 1302 1,100.609.19 May 1, 1896 1.818,497.73 May 1. 1900 2,438,599.25 May I, 1904 3,526.359.10 May 1, 1908. , 5,390,083.90 ' May I, 1912 10,942.641.78 May 1, 1916. ' 25,112,717.11 Nov. 17. 1916 . \i 28,619,206.83 Transacts a genera 1 banking buinoss. Inters t paid on Pavings deposit*. Doans made on real estate. . Safe Deposit Boxes to rent. 1 Foreign drafts and travellers checks sold. MAIN OFFICE Dim** f*av n* Bank Bid*" Griswold ;«rrd Fort *<’». BRANCH OFFICES 14'H Woodward 4f»7 Qriftol Ark 7*'* Woodward A vn. 1174 J»ffrr«Qn At<* Oifi Grand River Ar, ns Mlrtucan Ave 1479 roiirtr'Dll AvA-' Broadwa' *o*l Wither*)! Are* DETROIT TIMES WHOPPING BUSINESS ON’CHANGE Local Stock Market Has Banner Year Os its Historj__ INCREASE OYER SO PER CENT Prospects Very Bright i or 1917, Says Sec retary Reilly /n VIVWO.VD tV, REILLY. %«■< r»iary l>rtr»l< Stwk *»*N»»*f The isetrc:* Stock etebaakv ts c’n r.c the i oe; pro perrwis year .n irjk v ? t«>r> u • acreage in th'* vcl i ; huMri*-ss handled thru he .. \. t br'int; rivaled only : > wonderful of other ~nee of u.»tnee» in IkrUOit in * * "i*. .6 'barer «'*f p*>«« k ▼ re t . .e j in on ’h» r roif Stock ex rUar.av in 1915 th** volume mi r*.e --* : v> 44»17; f>r ISl*s th** n’.raher o' -‘lare-* <*;ll approximate 1 Srth.i*'*). nr :a of .ih> ut 360 per * e n t owrth* pr* ce iiag year l*r?.* ti-ally h M ■ f the fV'oei li'ied ou the LV - • excfcin**** -hi w »rn*atl' en ha;.''**d vala* 4 * in compart*on with * a . v , rk* t price*♦ of [V'cmnler I^ls, 1 tumnrn of local inventors Pa'* 1 r.iade handt-crue prt»flti from mveatmenta in securities listed on tbi Detroit ev han^e The -rowth of tl;e b'. 4 ine«s hand |< ; th:u the larval uxArket ha.s At trae’ed nr w listing; in cc*nsiderable «; . • dur:r.« the pus! veir. the -» .*•-> of 13 d.fferent corpora- j n- hat ns be n listed on the C>»- »r**;t ex'bane** dur.ne th»*it period •p- *■ <*harcovl Iron Company of A "i r v •b* * hei ro’.et Motor com puny, the r>et-oit l mted Railwav ; r.l W K Prudd n i Cos are amort* th* :nv,*ortar.t 'orporAtions *ho»p rl * have n lirt*»«i uurlnc *•_. j» tv hep desirable listings are in p .« *i r *J < i ..nog \**ar and i;t f(j the mtjK-rtAooe of the lociil riArkei * „ The:** has no tncrea»e m the r.ie'ub**rsh:p of he exchange during .>,*> p. ear. iu* *rv..tbe fact that th* hi'..' o' _>• n.embers allowedi by H.e i *r ition of the ext bank*- was reach*-*! during 1?16. The las* ra can? v *nibcrship »a.« sold f<*r k-Vi hi? a* 'he present time there ar» I r the market for 110/do frr a P The small m-mbr sh p of th° eicfcar.gr ar.d tbr rr*Ht ■n. T‘ -• n 'h- vcfuroA of sy is .ness have made seats wry valuabU' and lend an *d<:tt!onal gusraruce to tne a*ahillty cf ’he mefnb**ra The %-* ot increase in the tr. dinc on h* .- al * h *ng hxs n*- ► r 1 r.< * m the*!* of handling bu»i n."< and -o \ cleartn* for the itl»v er of •"•c-jr’.t.ie* frr»m rn*' niamber • an th* r if ni* feld at ’he *x change each noon This clearing ha» proven nvaiiiafle as a time-saver and .* gr* s;W appm'iared |>%- the hoi k keeping and cashtwr*’ depart men'* of the difl< t nt »tock • ' ihauge hou-es Put the great eg t pruirrwlvs aiep t.«ken bv the e\ ' chunus* during thf p#M year ha* I Le*n the inauguration of conitnnotia liadiug MSklotu from !0 a ui . tt p m eai’h d’i> e*«rpt j?Atnrdoy xy«'T —’tre si'-smn rlm-.es st nw»i - Plach hmi Is r« pr*'** nt* and on the flo©» us the exchange luting these *.*“.•* un- bv a tr.uler " h<r e> * *ut<- the orders as rswelved fom ft- oftt •* V svxt. ni of ln* *ie telephone- counts ting th»* 4.ft* r* n: If«• »>* t’b th** flin'r ivf V*• .whir-.,; ak**s jH-'ibU the aim. *t ai' i.ml i'\i (iitlon <:t an< otdets *# >c« : ' od b\ a «ti» k exchange li m-« All ’ l'li *' ft in*i«ried f<*r !. nils gi a »’r!*ti* cvmitulssion lu*i« .mil eve-i «a)e mad* on he r,,K>.r is report* on t?'.* - o* « id <V'e-, tat: n -hoe ot < * * h.tn and in* the daily p.'!" - The Importance of the;e re -nir o' tl « to tnv<'*< i, r* 1s >• If ev !• ; a 1 e banks and tnve*t ,r *: ri’i* 1 iv »• •* j, n <jui>k ti> apprex ate *Ve . S rtages of tav pen lyitltu Th* 4 out 100 X for •»:: *s mv brtgh» en.i the w* ib r- f <ba • rxchxnae are unanimcu* »*i p*vJictlng that rhe coming year * 1 *« ** a con’tnmttoa cf tbe splendid pogiess achieved b v tbe •tcliang*. du'lne l*>lt* r\R EQUIPMENT COM PA N Y WILL HAVE NEW PLANT T v I’nivet il tar t tom pan; with temporary factory •Lik* - .in announ » ms nr that t? will be ready to tm« ■ t » *« n**»i factory. P'.cnk'in anc laiDcis st* rt N>ut Jan U This comp n« i> mrnuf idtunng 4|**_vt,il bodies, both tn ’h* t.e.nng und roads?e v t> :•»• i * Vr i- hagsls The dctnxnd for tht not put w;.i.- treat last >*ar that t’ was hah ’’ Cupped by !a< k ■' f.w ory •r»*;e. u*«l«* tc take <-a:e of .n! - ' .< snu'l ix»rt;i*n of its order- Tbi new f,* tor* « b* -r.g remodel l 'l i me* r *ne < .*v u makatfWe.-t ft ’ :> far its rur (OSes V h-s\ v *r • 1 r ** • ou« tt<*-i.ip •! I fre’ght terminal*, acecrvlira tv rie:n**r» i>f th they pe.r.t "t *• ’Re '» ! test * ■(, | ’ p. - ~»>♦ wthin the last few d»v* a * « r* 'lit *• ,v ' ' ' “The Best Reward C* H for havinj; uroiinht well alrcadv to hrtve mote to do.” Ihe increase in the number of business men of this r*it > who are patrons of this Bank demonstrates be>ond all question how well we have wrought. We hope to serve you. THE ■— Mahonal of Qommerce OF DETROIT Boosts Detroit Stock Exchange Hn vdflk RAYMOND W REILLY • Hi* !t secmtery of she rv*rolt 4»,vli e vnd one of she b* b.»oetera of the orjcar.iratlan The bn»ln*«s of tbe etchunff Is tn<*rra>. •:g be Imp!* an<l bound*. rwflnctlnx •he »» n-r il prohpt’rtfe DIME SAVINGS RANK PROSPERS TV ** unusual Jlnunr;al *Tt>urtb *f •«iroll durtnx 1916 I'A.x bern r«'fl*H*t ;•< in •'•* :v» r* *• * ’' ** * -*♦'t •■' •»' !*♦:■•*• b vein*** h Hk v ;,.< i ir r>'*ril <r <1lv: iun<i* of on*' r*er r*'D’ monthly " sail it ,11mm jv:nr'*tr*n' . president of the bans. "»» pjud a **pa'«'i«l Chri-f --"i * ! idrnd of ons per *'<»nt and * a »ij Je*l t' v“** f *> ou; * flu* find Thi-* Is t h»* •'tmond Uni* du-inr 19l« that iLi*- «*u baa tH**n to fh** ‘urpL. fur Iravln*.' .in ut;J'vtd»-«l j«r 111 of so: .*■ f. * *OO or a.ore T • <t. »♦* a:i* giro* 1 IQj. ” The ann ini iKton of h*> C! < 7>ta chi rrat*'mlt>. f r :be <**uU m jurisdiction. is to b»' opened • - •» • > •• • ■• •r V nd c A YEAR OF PROSPERITY ■» i ’ * Will surely be yours, if you begin it with a Savings Account in ‘‘HOME OF THRIFT,” the largest, strongest Mutual Savings institution in Michigan, and keep it growing with regular addi tions each pay day. These Accounts draw 5% interest, the highest rate that is paid by any SAFE institution in Michigan. 3 Such an account is not only a SAFE and PROFITABLE in vestment for you, but your money will be used in assisting to build new homes in Detroit, h elping to relieve the Housing , Problem. i During the year just closing we have loaned over a Million, Dollars in Detroit and have helped to build 518 new homes in this city. The more Savings Accounts that are left with us, means more homes built. “Homo of Tlirift” says “THANK YOU” to all its friends that have helped to make 1016 the m>st prosperous year we have ever known, during which our ASSUFS grew a MILLION DOLLARS, ir 30%. Detroit & Northern Michigan Building & Loan Association 20 Grand River at Griswold. Phone Cadillac 4011. • I i l \ ' 1 , \•• I w f /■' t M ,f ’’l ‘ . . j J J ( . . W ►. I 4 - i • BON a. S AND COUPONS Payable January 2nd, 1917. at Office of DETROIT TRUST COMPANY BONDS Detroit and Cleveland Navigation Co*. 6 40,000.00 Detroit Body Cos 13,000.00 Frontier Steamship Cos 20.0D0 00 Tarrar Transportation Cos 13,000.00 H. T. WMion Coal Cos. 2.000.00 H L Bowies 4 Cos. 15.000.00 Millnokett Steamahlp Cos 13,000 00 Canada Steamship Lines. 8. 9., "Stadacona” 15,000 00 Kinney Steamship Cos., 8. 8. “Andrew S Upson” 12,000.00 North American Steamahlp Cos., 8 8 “John P Reiss".... 9,000.00 North American Steamship Cos , 8 8. “A M. Byers” 14,000.00 Ntrrth American Sfamihtp Cos . S 9. “Peter- Reiss” 14,000.00 - Weat Coast Redwood Cos 50.000.00 Caklte Transportation Cos. 18.000.00 Port Oiakely Mill Cos 125.00003 Cleveland A Buffalo Transit Cos. . .' 25,000.00 Alger, Smith A Cos 100,000.00 Kinney 9teamshlp Cos., 9. B.‘a “J. 9 Aahlay” and “R. L- Ireland” 90.000 00 Aaeociatlon of the Bar of the City of Detroit 3,000 00 Total Bonds ; $591,000 00 COUPONS Mt. Clemens Qas Cos * i... 6'a Detroit and Cleveland Navigation Cos . • 5 * Alpha Chapter Phi Oelta Theta . .... 5a Booth-Kelly Lumber Cos.. 6’a Frontier Steamship Cos s*a Iron Mountain Light and Fuel Cos 6’a H T. WUeon Cool Cos 6’a Milmohett Steamship Cos , s’a Koen.tier Tanning Cos ... 6'a Farrar Transportation Cos s'a H L Bowles and Cos b's 2mada Steamship Lines. 9. 8. "Stadacona” .». s'a Tansda Steamahlp Lines. S S. “Midland Prince" 6*a ■\inney Steamship Cos. . B'a North American Steamship Cos., S S "John P Reiss" 6*a No “tn American Steamship Cos, S. S. * A M B>er«” B’s North American Steamship Cos., S S "Peter Reiss” 6'a American Steamship Cos . .. s's West Coast Redwood Cos B'a Lenawee County Gas and Electric Cos 5’ /a Ca'cite Transportation Cos. B’a Northern Engineering Works . . B’a . gma Ch Building Co.—First Mortgage 6s S rma Chi Bu iding Co.—Second Mortgage .. * 4'* Oort Blakely Mill Cos B'a B'oadway Market 6‘a Ar©lme Steamship Cos. . 6’a Penn Timber Cos. B'a Washtenaw Gas Cos ’s's Cleveiard A Buffalo Transit Cos B'a Alger Smith and Cos. . . ’ i’t Ssginaw Plate Glass Cos. B'a Km**ey Steamship Cos. B’a Plymouth and N o rth vi lie Gas Cos. .... . B'# Assoc at on of the Bar of th# C*ty of Detroit B*# American Inter Lake Cos. B’a Le'and Light and Powe r Cos . .. 6'a Wiiliamr.ton Illuminating Cos s’a Total Coupons . . 6244,409.50 « J Pn>« Irvrr**** on lieposu** Fx>any Money ' • !i Is authorised by law to act in all Trust Ca- a paelties as Executor, Administrator, Trustee |j under Wills. Receiver, Registrar a«d Transfer jj Agent Trustee under Mortgages, etc , • \i. .* Vudi’e Sells Recurttlea a I Oetroit Trust Company i I-5 CONNER FCPT S SHfUBY STRIPTS ORPOSiT# baiaaaa************» aaaaa m mm m m mmmm m mmm ADVERTISE IN THE TIMES—IT PAYS