class and 4 of the larger, all in the State of Pennsylvania, were organized with capital aggregating $325,000. In the Pacific States 2 small banks were organized in California with capital aggregating $50,000. The State of Texas led all other States in the number of new institutions, with 4 small banks and 2 large ones, with capital aggregating $235,000.

The report contains a table giving the number of new banks organized in each State and in each section, with the aggregate of new capital, for the eleven months from November 1, 1903, to September 30, 1904. This table is of special interest as showing the much more rapid increase in the number of national banks in the Southern States than in any other part of the country. The total number of banks. organized in the eleven months was 388, with capital aggregating $18,224,300. The organizations by sections were as follows: New England, 3 banks, with $175,000 capital; Eastern States, 47 banks, with $2,610,000 capital; Southern States, 117 banks, with $6,390,500 capital; Middle Western States, 105 banks, with $4,405,000 capital; Western States, 87 banks, with $2,996,000 capital, and Pacific States, 29 banks, with $1,667,800 capital. It will be seen that 30 per cent of the new banks organized were in the Southern States, and they were capitalized at 35 per cent of the total capital of all the banks organized during the eleven months. The State of Texas led all of the other States, with the organization of 49 new banks during the eleven months with capital aggregating $2,627,000. Pennsylvania was second, with 30 new banks with capital aggregating $1,405,000.

SHIPBUILDING STATISTICS, FIRST QUARTER OF 1904.

Commissioner of Navigation CHAMBERLAIN has reported to the Secretary of Commerce and Labor the statistics of shipbuilding in the United States for the month of September and for the quarter ending September 30. The total number of vessels of all classes built and officially numbered during September was 105, with gross tonnage aggregating 14,699 tons. Of these 48, of 10,287 tons, were wooden sail vessels; 51, of 2,348 tons, were wooden steam vessels, and 6, of 2,064 tons, were steel steam vessels. All of the latter were built on the Atlantic coast. The largest steel steam vessel officially numbered during the month was the Wilkesbarre, of 1,197 gross tons, built at Wilmington, Delaware, for the Central Railway of New Jersey.

During the quarter there were built and officially numbered 328 vessels of all classes, of 40,374 gross tons. Of these 130, of 24,363 tons, were wooden sailing vessels; 179, of 7,130 tons, were wooden steam vessels, and 19, of 8,881 tons, were steel steam vessels. Of the latter 4, of 409 tons, were built on the Great Lakes, and the remainder on the Atlantic coast. During the corresponding quarter last year there were built and numbered 310 vessels of 66,023 gross tons, of which 100,

of 12,437 tons were wooden sailing vessels; 186, of 13,729 tons, were wooden steam vessels; 1, of 3,248 tons, was a steel sailing vessel, and 23, of 36,609 tons, were steel steam yachts.

PRODUCTION OF IRON ORES IN 1903.

In the report made by JOHN BIRKINBINE to the United States Geological Survey on the "Production of Iron Ores in 1903" it is stated that the quantity of iron ore produced in the United States in the year ending December 31, 1903, was 35,019,308 long tons. This means a decrease of 534,827 long tons, or about 11 per cent from the maximum of 35,554,135 long tons in 1902. The quantity mined in 1903, however, is the second largest recorded, and is greater than the combined totals for the year 1902 of Germany, Luxemburg, and the British Empire, which are the nearest competitors of the United States.

The iron ore obtained in 1902 came from 24 States and 2 Territories. Minnesota, Michigan, Alabama, and Wisconsin were the leaders in production. Nevada was added this year to the list of producing States, while Vermont and Montana reported no ore mined in 1903.

The iron ore mined was of the four general commercial classes: Red hematite, brown hematite, magnetite, and carbonate. In 1903 the quantity of red hematite mined in the United States was 86.6 per cent of the total of the country, and of that Minnesota contributed over one-half. Alabama was the most important contributor of brown hematite. The three principal States that mined magnetite in 1903 were New Jersey, New York, and Pennsylvania. The red hematite showed a decrease of about 1 per cent from the production of 1902, the brown hematite and the magnetite a decrease each of 7 per cent. Only the carbonate ores, the least important class, showed an increase over the output of 1902.

ore.

The Lake Superior district stands preeminent as a producer of iron Its annual output exceeds that of any foreign country, and the average character of its ore is excellent. In the year 1903 the Mesabi and Vermilion ranges in Minnesota and the Menominee and Gogebic ranges in Michigan and Wisconsin produced a total of 26,573,271 long tons of iron ore. Of this ore the Mesabi Range alone produced 51 per cent.

The State of Pennsylvania showed a decline of 22 per cent from the total of 1902. This decline is due almost entirely to the diminished output of one of the large mines, the Cornwall Ore Hills, to which Pennsylvania has been mainly indebted for its position as a prominent producer of iron ores. New Jersey, on the other hand, showed an increase of nearly 10 per cent over its 1902 production. The construction of several modern furnaces was the chief cause of the increased output in New Jersey, and it is probable that an augmented production may be expected in the near future.

The total value at the mines of the 35,019,308 long tons of iron ore produced in the United States in the year 1903 was $66,328,415, or $1.89 a ton, an increase of 5 cents a ton, or 3 per cent over the value per ton in 1902, viz, $1.84. In 1903 the highest average value at the mine was placed on the Colorado iron ores, viz, $3.12 a ton, and the lowest on Texas ores, $1 a ton.

Iron ore to the amount of 980,440 long tons, valued at $2,261,008, or $2.31 a ton, was imported to this country in 1903. The total export of iron ore in 1903 was 80,611 tons, valued at $255,728. The greater portion of this went to blast furnaces in the Province of Ontario, Canada.

IMMIGRATION STATISTICS.

It is estimated that the total number of immigrants landed at all ports of the United States during the fiscal year ending June 30, 1904, was 815,361, compared with $34,000 in the fiscal year ending June 30, 1903, a decrease of 28,639, and 857,000 in the fiscal year ending June 30, 1902, a decrease of 41,639.

Official statistics from all the ports will change the total for this fiscal year. The records show that the Italian immigration decreased nearly 20,000, and the reduction in the Hungarian immigration was nearly as great.

That the bulk of the new immigration is flocking to the big cities of the eastern seaboard is demonstrated by the figures contained in the semiannual report of the Western Passenger Association.

From January 1 to June 30 of this year the railroads of the Western Passenger Association received $175,644 gross revenue from immigration business, and paid the steamship agents a total commission of $53,792. In the half year the revenue decreased $60,563, or 25 per cent, and the commissions paid the steamship companies decreased $27,848, or 41 per cent.

PETROLEUM PRODUCTION.

The Geological Survey has issued reports on the production in the United States during the year 1903 of petroleum, asphaltum, and bituminous rock and copper.

The petroleum production was 100,461,337 barrels, valued at $94,694,050, against 88,766,916 barrels, valued at $71,178,910 in 1902. Production in California increased over 10,000,000 barrels, while the Texas production decreased over 1,000,000 barrels.

The production of copper was 730,044,517 pounds, against 699,508,644 in 1902.

The production of asphaltum and bituminous rock was 101,255 tons, valued at $1,005,466. This was a smaller amount by over 4,000 tons in quantity than the year previous, but its value was 31 per cent greater. Of the total production, 46,187 tons, valued at $522,164, was from California.

URUGUAY.

CUSTOMS RECEIPTS AT MONTEVIDEO, 1904.

The following figures, published in the "Montevideo Times" for August 6, 1904, show the customs receipts at the port of Montevideo for the month of July, 1904, and for the corresponding month in the preceding nine years; also for the seven months of the current year, as compared with the January-July period of 1903.

For the same month in the preceding nine years the figures were as

The decrease as compared with 1903 was $167,195, but with the four preceding years the comparison is not unfavorable. July is one of the months in which the customs receipts are subject to the greatest fluctuations.

For the seven months of the year 1904, as compared with the corresponding period of 1903, the following figures of customs receipts are published:

CUSTOMS RECEIPTS, FIRST SIX MONTHS OF 1904.

The Buenos Ayres "Handels-Zeitung," of August 26, 1904, publishes the following figures of the customs receipts for the first six months of 1904, as compared with those of 1903:

I-Resolution of April 22, 1904, classifying “magnesium wire" for duty.

[“Gaceta Oficial” No. 9136, of April 25, 1904.]

By virtue of this resolution, magnesium wire, which on coming into contact with a flame produces the same effect as pyrotechnic matches or Bengal lights, shall, on importation, be dutiable as the latter under Class VII of the tariff (No. 474).

II.-Resolution of May 3, 1904, assessing duty on the starch-like product called "leuceine."

[“Gaceta Oficial" No. 9144, of May 4, 1904.]

This resolution provides that on importation through the customs of the Republic the product called "leuceine" shall pay duty according to Class III of the tariff.

III.-Resolution, dated May 4, 1904, as to the treatment of woolen felt for mangles.

[“Gaceta Oficial” No. 9145, of May 5, 1904.]

According to this resolution, woolen felt for mangles shall, on importation into the customs of the Republic, be included in Class VI of the tariff.

IV.-Resolution of May 23, 1904, to enforce the provisions of article 1 of the Law XIX of the Financial Code.

[“ Gaceta Oficial" No. 9160, of May 23, 1904.]

From and after the date of expiration of the time limit allowed by Law XVI of the Financial Code for shipments coming from beyond the seas, to run from the date of the present resolution, all the provisions of the Law XIX of the Financial Code shall be applicable.