Los Angeles daily herald., 1889-04-16
TUESDAY, APRIL Ie, 1889.
A We'll Earned Vacation - Noble
Donations.

Mr.. /. W. Hellman and family leave
to-day on six months trip to Europe.
Mr.. Hellman has been so long central
figure in the financial history OF Southern
California that we depart from our usual
habit and notice his departure in our
editorial columns. 1t is mainly due to
this gentlemsn's transcendant fiscal
ability that the Farmers and Merchants
Bank has become one of the most re-
narkable moneyed institutions in the
United States. Fortunately, perhaps, for
Los Angeles county and Southern Cali
fornia the policy of this bank was OF late
years notably conservative. If it had
been otherwise this region would have
been exposed to grave dangers during
the late period of wild speculation in real
estate.
Under the Presidency of Mr.. Hellman
the Farmers and Merchants Bank has
grown from small beginnings to colos-
sal status. Its great capital has enabled
It to extend large accommodations to it's
patrons at the same time that it has re-
tanned larger proportion of cash on
hand, compared to its deposits, than
almost any bank in the United States.
Its President seeks foreign vacation at
a time when the deposits of the bank
amount to nearly five millions of dollars,
and there is almost dollar for dollar in
the banks vaults to meet these claims,
with instantly convertible assets to en-
able it to meet its obligations if every
other bank on the Pacific Coast were to
fail tomorrow. At the beginning of the
current year the Farmers and Merchants
Band paid over million and a half dol
lars of the city and county moneys to the
legally designated repositories.
We exaggerate nothing VIXEN we say
that Mr.. Hellman is looked upon in San
Francisco as the best banker in Califor-
MIA. Some years before Michael Reese
died, he offered the President of the
Farmers and Merchants Bank $25 900 a
year to manage his (Reese's) immense
investments, and the offer was declined,
with thanks.
We learn that the Hellman party will
pass month or six weeks in London,
where Mr.. Neugass, Mrs. Hellman's
brother, resides. The banking-frm Of
Neugass & Co. ranks Immediately after
that of the Barings in the great money
circles of the world. Mr.. Hellman and
family and Mr.. Neugass and family will
visit together a number of attractive
European watering places. taking in the
Paris Exposition, and aiming princi-
pally at that rest and recreation which
has been SO we'll earned by our honest,
capable and distinguished fellow citizen.
The HERALD heartily wishes him bon
tReyage.
1t will interest the people of Los An
geles, who have such great regard for
Mr.. Hellman's sagacity, to know that he
looks upon this city and county as men,
aced by no dangers, financial or other
wise. He has always been a firm be-
lieyer in our future, and is more than
ever so now. He believes in our steady
and reliable advance, and thinks that
we have safely passed the crisis of the
over speculation of the past three or four
years.
A few weeks ago Mr.. Hellman gave
5000 to the Protestant Orpha n Asylum
of this city, and 5000 more to the
Hebrew Asylum in San Francisco. Yes
terday, as final piece of liberality, he
gave the Sisters of Charity 5000 to
assist in building their projected orphan
asylum. These are noble benefactions
and will be held in grateful remembrance
by the recipients.