Pittsburgh ranks high as a banking center. She is the second city in the United States in banking capital and surplus, and leads all American cities in proportion of capital and surplus to gross deposits, with 47.1 per cent., while Philadelphia ranks second with 26 per cent. In 1906, there were one hundred and seventy-nine banks and trust companies in the Pittsburgh district with a combined capital of $72,058,402, and a surplus of $87,044,622. The gross deposits were $395,379,783, while the total resources amounted to $593,392,069. Pittsburgh, with clearing-house exchanges amounting to $2,640,847,046, ranks sixth among the cities of the United States, being exceeded by the following cities in the order named: New York, Chicago, Boston, Philadelphia, and St. Louis, and often on a given day exceeds those of St. Louis.
III
The tax valuation of Pittsburgh property is $609,632,427. She mines one quarter of the bituminous coal of the United States. With an invested capital of $641,000,000, she has 3,029 mills and factories with an annual product worth $551,000,000, and 250,000 employees on a pay-roll of about $1,000,000 a day, or $350,000,000 a year. Her electric street-railway system multiplies itself through her streets for four hundred and ninety-two miles. Natural-gas fuel is conveyed into her mills and houses through one thousand miles of iron pipe. Her output of coke makes one train ten miles long every day throughout the year. Seven hundred passenger trains and ten thousand loaded freight cars run to and from her terminals every day. Nowhere else in the world is there so large a Bessemer-steel plant, crucible-steel plant, plate-glass plant, chimney-glass plant, table-glass plant, air-brake plant, steel-rail plant, cork works, tube works, or steel freight-car works. Her armor sheaths our battle-ships, as well as those of Russia and Japan. She equips the navies of the world with projectiles and range-finders. Her bridges span the rivers of India, China, Egypt, and the Argentine Republic; and her locomotives, rails, and bridges are used on the Siberian Railroad. She builds electric railways for Great Britain and Brazil, and telescopes for Germany and Denmark. Indeed, she distributes her varied manufactures into the channels of trade all over the earth.
The Pittsburgh Country Club
