Los Angeles daily herald., 1890-03-01
MIR. HELLMAN'S PLANS.
He Will Go to san Francisco i'm
About Two Weeks.

| He Will 60 to San Francisco I'm
| About Two Weeks.
| A HERALD reporter cav Mr.. 1. W.
Hellmsn yesterday in reference to his
removal to San Francisco. He was found
in the bank very busily engaged in show
ing it's ins and outs to his brother, Mr..
III. w. Hellman. After a bit he found
time to sit down and talk to the HERALD
for five minutes. He said: 81 never
saw anything like this rush for stock in
the new bank. The capital will be
So 900, 900, but if we had $50, 900, 600 it
would not go round. am constantly in
receipt of letters, kilograms, telephone
messages and all sorts of COM
munications from all parts OF the
country for stock in the new concern.
By the time the allotment comes up to
be made there will be filed applications
for $25 900 900 worth of stock. Every
thing is left to me, and L am placed in a
very bad place to decide what to do. I
cannot give any one all the stock he
wants, and many will not be able to get
any. One thing we have decided on is,
to limit the allotment of stock to the
people of the State Not dollar will 90
fornia bank from it's foundation up.
1t is, too, something for the State,
to be able to say it will have bank that
represents more capital than any bank
in the world. That is fact. The stock
holders of the new bank will represent
more money than those of any other
bank in all the world. cannot tell you
how much it will be, but it will run
away up into the hundreds OF millions.
And this stock will remain for the most
part in the hands of those who first get
it. What they want is an Investment.
They will be all very rich men. A poor
man could not afford to take stock
in the bank for the reason that no divi-
dends will be declared for years'to come.
One of the conditions made by all who
apply for stock is that am to be the
president, and that l shall have full
powers in the bank. l will do as l did
here in the Farmers and Merchants.
will accumulate heavy surplus to begin
with.
"Now as to the Farmers and Mer-
chants I want all my friehds to know
that no change will be made
here. My brother will represent
me here, and the management of
the bank will be just the same
az heretofore. We shall be in as close
communication as if we were in adj oin-
ing rooms. l am not parting with one
dollar of my interests here. The
Farmers and Merchants is of my making,
and it is and will still be the pride of ny
life. Ii anyone wants to sell any OF their
holdings in the bank I will buy them
out. l am not parting with any of my
interest ip Los Angeles. I did not see
anyone from the HERALD since this mat
ter came up until now, but someone had
an article in the paper that expressed
the thing very correctly. shall have
control of practically unlimited amount
of capital and if 1 can aid any enter
prise that has merit in it, it will be my
pleasure and interest to do 30. Things
will 60 along here just as usual.
"ReferriDg back to the application
made for stock in the new bsnk-I had
intended to take certain amount my
self, but the demand is so great that 1
have scaled that down until my name is
on now for only half the original guam
tity, and l do not know how much more
it will be cot down in the end
Il had hoped to be able to remain here
until the last of March, but that will be
impossible now. l shall be obliged to
get away in about two weeks. My
brother is here getting the run of details.
He has been here number of years, and
is we'll known. His business quslifics-
tions are understood by the public gen.
orally. He will in no respect depart
from the policy have pursued myself in
the management of the bank"