Los Angeles daily herald., 1890-02-24
It's Effecs ON Los Angeles.

Its Effect ON Los Angeles.
Since the announcement came from
San Francisco that deal was in pro-
gress to put our townsman, 1. w. He'll
man, at the head OF the Nevada Bank of
San Francisco, there has not been much
doubt in the minds Of thinking people
that the scheme would bs carried out.
Mr.. Hsllmsn, of course, denied that the
deal had been closed, and stated
that nothing defaite had been
arranged, because these were
facts. There is never anything
definite about such matters until the
final papers are signed. But the matter
had made 80 good progress before the
press got hold of it that it seemed GER
tain of going through. The retirem ent
OF H. W. Hellman from the business he
had been 80 long at the head of and of
which he had been the founder, pointed
to the certainty of his brother going to
San Francisco. However all doubt in
the premises seems now removed and in
four or FIVE weeks Mr.. l. W. Heuman
will in all probabilities be at the hea d of
the Nevada Bank.
Tits altogether natural developme mt,
devoid OF any sensational features, but
full of interest to Mr.. Hellman's friends
in Los Angeles. He began his ca
reer here, not only as a banker,
but as business man in any
capacity. He is in the truest sense oil
the term thoroughly self-made man,
the skillful architect of his own colossal
fortune. His history is largely the his
tory of Los Angeles, for every great
undertaking here for twenty-five years
has been in some way connected with
his name, and most of them very init
mately 80. Nothing but matters of tbs
greatest moment would take him away
from this city. The circumstances to
draw him away exist in the present con-
dition, and possible future, of the
Nevada Bank. In spite of the millions
of the Bonanzs Kings. the concern has
been far from prosperous. Indeed
it may well be imagined that
since the wild wheat deal of three
years ago, it has been serious questio n
whether or not to wind up its aft airs and
close it's doors. Yet there were a great
many men of large means stockholders
and depositors in the bank. II seemed
q pity to close it up. In casting about
for possible president, it is not wonder
full that Mr.. Hellman's name should have
come before the directorate. After it had
been mentioned there was no such thing
as preventing his being put at the head
of affairs excepting the lack of his own
consent. And SO many of his friends
came to the fore with offers to
buy stock, that the future of the
bank became 30 assured that he
could not we'll afford to decline the
honor and trust. Thus by natural
evolution of events the whole scheme
has been developed. The money is
there in San Francisco, and Mr.. He'll
mans we'll known financial ability and
his conservative methods mark him as
the man to direct its use. 1t is all we'll
enough to speculate when there is only
some paltry sum at stake. When it
comes to the handling of $50, 900, 900, the
main question, indeed the only one, is
that of safety. At 8 per cent. the in /.
crease from that sum is nearly million
and at per cent. it is nearly two mil
lions. A conservator is pretty nearly all
that is needed. Mr.. Hellman is con-
servative under all circumstances.
The question of interest to us here
is what effect will the step have
on Los Angeles? 1t can hardly
have any but a good effect. Mr.. He'll
man remains the president of the Far
mers and Merchants Bank, which will
GO along just as if no change had takel
place. Mr.. H. w. Hellman, it is under
stood, will be Immediately in charge O
its affairs, and he will have private wir,
stretched over the Mackay poles to tn,
desk of Mr.. /. w. Hsllman, on Mont
gomery street in San Francisco. He car
be consulted with ths same ease as if be
were in this city in his Office at the Far
mers and Merchants Bank. Therefor
no deleterious effect can come to Los An
geles from the proposed change. 1t il
easy to see how many good result
may follow to Los Angeles. Mr.
Hellman, whose interests here are
immense, will be at the head
of bank that will be from the mo
ment he enters it the controlling influence
in the finances of the Coast. It will be
his pleasure and his interest both to aid
in every legitimate enterprise thought oi
in Los Angeles. He will have control of
unlimited funds, and if any Los Angeles
industry can only show him it is one OF
merit, it may safely count on his encour
agement.
These views are simply the logic of the
events involved. Since the first publica
ton concerning the scheme to this writ
ing no one connected with this journa
has had the pleasure of exchanging ten
nor five words with either Mr.. Hellman
or with any one authorized to speak foi
him. They are our views pure and SIM
pie, as they seem to us in the light of all
that has been made public.
ura |
REPRESENTATIVES, in Congress will have
an opportunity today of expressing their