Los Angeles daily herald., 1876-01-01


else a healthy influence. The hills
clothed with verdure, the valleys cov-
cred with waving grass and young
grain; the orange and the lemon hang
| ing from the boughs, with beautiful
soothing and beneficial effect upon the
seeker after health. With such a re-
markable union of all the elements
calculated to maintain the hu man sys-
tenn in healthy condition, and re-
store it to its normal state when u
prey to disease, it is not a matter of
matter of surprise that so many thou
sands should seek this city, particu-
larly during the Winter. The time
is not far distant when the weak and
afflicted from all parts of the United
States will seek Semi-Tropical Cali
fornia, instead of going abroad or to
less favored localities in the Southern
States.
LOS ANGELES BANKS.
Our city is pretty well supplied with
banking facilities and constant addi-
tions are being made to the available
supply of working capital, though
there is still room for far more than
we at present control. In a country
lettering such inducements to opera
tors, thedenaHd- for money is neces-
sarily great, and the rate of interest
high. Indeed, were it not from the
constant influx of capital with the in
coming settlers, there would soon be
dearth of money. Many of the in
dustries of this section require liberal
investments to carry them through to
the point when they begin to return
a compensation. The young orchard
and vineyard represent large expendi- :
lures of capital, but yield nothing for
the present. In few years they will
begin to reimburse the owner, but for
the time being only absorb money.
Thus it is that the drain for money
constantly keeps i'll excess of the sup
ply. In heating steam boiler the
fires have to be kept up long ere the
steam begins to generate. There is a
large amount of latent heat to be sup
piled to the water ere it gives forth tie
desired power. When the vapor be-
gins TO form, however, only q short
interval elapses before the engine may
be set in motion. So it is with this
section. We have not yet begun to
realize the results of the capital ex-
pended, but every dollar has done its
work, and when a certain point of pro-
duction is reached, we shall soon ex-
perience the benefits of rich remuner-
alton. The capital will be returned
with compound interest to be again
invested with like rewards. Los An
geles has now reached the position,
too, when she is beginning to attract
the attention of outside capitalists,
and we may expect the number of in
vestments by non-residents to increase
steadily in the future.
The Farmers and Merchants Bank
of Los Angeles occupies leading DO
sition. Its directory is composed of
Messrs. j. G. Downey, I. M. Hellman,
John S. Griffin. +. Lecouvrier, Charles
Ducommun, o. w. Childs, NJ. Keller,
4. Il. Thorn and Isaias w. Hellman.
Officers: John G. Downey, President:
Isaias w. Hellman, Cashier; +. Le-
couvreur, Assistant Cashier. The
capital stock is $500,0OO full paid up.
The volume of business the past year
has been considerably augmented. the
standing of the bank being raised
even higher by its able management
during the panic. The usual monthly
dividends of SIS per share have been de-
clared. The stockholders of the insti-
tuition include many of our wealthiest
citizens.
The Bank of which Messrs. Temple
d Workman are proprietors, has the
confidence of the community. Both
the proprietOrs are men of large
wealth, SO that the depositors are am
ply protected. The firm hold which
this institution has upon the conf
dence of the community was fully IL
lustrated during the late panic. Sew
eral weeks elapsed, owing to the Sc
we're monetary stringency, ere Mr..
Temple was enabled to obtain the
necessary coin to open his doors. Dur
ing this period there was no clamor OH
the part of the depositors, and when
the coin was forthcoming and the
doors opened, not only was there no
rush for it. but several capitalists tes-
titled their faith by making large de.
posits. The institution is now in a
prosperous condition increasing its
business from day to day. H. S. Led
gard Is the executive officer and Thos.
W. SdolliCI. 1 uc Dduk WAS
organized in 1871, and is under the
conduct and management of Mr.. f.
P. f. Temple.
The Commercial Bank has been
added to the list since our last annual
statement. 1t commenced business
the 1st December, 1875, in its elegant
new building OH Main street, near
Commercial. Its capital stock is $780,
600. Officers: M. S. Patrick, Presi-
dent; e. I. Spence, Cashier. Directo-
ry: NJ. S. Patrick, A. II. Wilcox, E.
Bouton, O. s. Witherby, S. H. Mott,
II. Mabury, r. NJ. Town, and John G.
Capron. 1t is organized under the
State laws and starts under favorable
auspices.
The Los Angeles County Bank is
the only strictly Savings institution
in the city. Its capital stock is $780,
600. Officers: J. S. Slauson, Presi-
dent; f. M. Elliott, Secretary. The
Directory is composed of Messrs. J.
Bixby, r. S. Baker, J. M. Griffith, V.
A. Hoover, Geo. S. Dodge, H. b. Itch
ner. The business of the bank has
progressed satisfactorily, the loans
and deposits largely exceeding those
| of last wear. From the ANIMAL state.