Daily Los Angeles herald., 1879-05-06
NEW ADvERrIsEMENTs
"A CARD.
THE DIRECTORS OF
The Iiibeynia Savings and
Loan Society
ITO ITS...-.
DEPOSITORS G BORROWERS.

We have carefully considered what
would be the effect of the adoption OF the
proposed new Constilutinn N upon. your
Interests ana upon the trust cOn1ded to
u. We have been aided in our examln-
alton of the question by men OF tried
ability and Integrity, and we are now
cunstiained by sense of duty and re-
sponsibllity to state to you the conclus-
ions we have reached. In thus address,
ing you we have NJ private or personal
objects in view. This hank has no capl,
TAI stock. All its earnings, in excess OF
necessary expenses. are divided equally
among all Its depo ,itors ,wlthoutany pref
erence or distinction whatever. I he aver
age amount TO the credlto OF eacn deposit
or l. ont, seven hundred aud eiyhty-two
l4l00 1872 IA 1901 uoliars. and the earn
ings OF its sixty-seven thousand three
hundred and seventeen l67 ,3l7l dep ,sit.
ors since the Bank was tsta bllshed
amount to twelve millions eight hundr,
and seventy-tAo thonsan nve hundr
aud foi ty-two 6S i0O tSi2 72,542 d3-iOOl do
lars. Our deposltors, 20 iectively, own
large c4pit |, but Individually they are
| not capitalist Is or monoroll-ts Ihey are
resp q, able W rking people, by the use OF
whose MONEY this Bank mas largely
aitied IN r,duoIng ,ho rate of Interest on
| money, w,th'n twenty years, from two
per annum. Borrowe S al this Bank are
chief OF he same class.
Our relations with you hitherto, whelh-
| CT Us DOTIoWtTS VI pOSiiolSy
us to hope that whal Is here stated may
have some force in determining your ac-
| ton. We are bOlnd by the obligations o.
| ia e-b ,uni by every ie-IosS mpaLhiz e
with you, and we deplore he unJus and
unior unate com petition with which you
| have TO contend. We know that times
are hard but We also know thai an ua-
| Wise decision of the pending question
will make times harder. Your condition
| is npL so bad Ia Il 1T may not be made
| worse, aud we are a. confident as men
| can be uf anything In the future that the
ad ption VI the new Constitution Will
only aggravate The evils OF wnich you
| now c. m. lam.
| L. part I IS so confused, inconsistent
| and absurd tnaL 1t must lead to pro raoL-
| ell controversy and lit gallon. ats scheme
| of taxation Is arbitrary, unjust and i'm
| pract cable IL proposes to tax II depos-
itors ON their pass books; III 10 tax the
bank on lis Inortgag S; l3l to lax the coin
| secured by the mortgages; and III IL au-
| thor zes the taxation OF dividends IL
provides for taxing all contracts and OBJ
property, and it Civ the Legislature
po er to Increase or diminish the rate Of
Taxation upon any particular property
power to m Ike one kind of property pay
| nearly all taxes required b. the State-a
| power which mus ieao TO inhnlte strife,
contention, brib berry and rruption.
Il is our deliberate Judgment that the
new Con -Iitution would tend TO max e
|
| Try; 10 d. coura. e en- erpri,e; to prevent
u o establishment orc ntinuanc OF iac-
| tories and wo kshOps; 10 diminish the
| vaiue of property, and to hinder the con
slru, ton OF bu lings anu other improve
ments which 20 to develop the state and
give employment to wo'kingmen; that
1t is revolutionary and destructive In its
spir and purpose, an tends to create
dscord and haired between classes, and
that 1t would do more harm to workin G
| eOple than to any other class.
We, therefore, earnestly and respec'-
iuIiy advise you that 20 would promote
| Lbe wei are OF the 1t lie and yonr own
iuter sts hy voting against tho adoption
of the New onstitutlo Ion.
| MYLES ID. SWEENY,
| q d. O'-ULi IVAN,
NJ. j. O'CONNuR,
GUSTAVE TOUCHARD,
| ROBERT ] 1pBIN,
| JOHN SULLIVAN,
PETER DON AHUE,
| p. McARAN.
San Francisco, April 20, 1879. 1w