Los Angeles herald., 1892-01-15
BANKERS DINE.
A FEAST OF REASON ON THE BILL
OF FARE.
Features of the Last Clearing House Din
ner-An Address from /. W. Hellman.
E. f. Spence Welcomed Home.

The January dinner of the Los An
geles clearing house was served at the
clearing house rooms, Temple block, on
Tuesday evening.
All banks, members of the associa-
ton, were represented by two or more
officers.
After the appetites of those present
had been partially satisfied the usual
mental entertainment was inaugurated
by the presentation OF three carefully
prepared papers by F. @. Howes, on
Discounting of Notes; by Perry Wild
man, on Exchange and Discount, and
by J. M. Elliott, on Cooperation be-
tween Banks.
These papers were unusually interest
ing and the vein of quiet humor which
go characterizes some of these gentle
men, was perceptible throughout.
At the request of the president, Mr.. E.
F. Spence, Mr.. /. w. Hellman, president
of the Nevada bank, San francisco, on
this occasion the guest of the evening,
in his usual impressive manner made
the following pointed remarks upon the
financial situation, introducing at the
same time some illusions very compli-
mentary to Los Angeles bankers. These
latter he characterized as progressive,
intelligent and capable, and claimed this
for them as reasonable deduction from
the conservative and successful manner
in which they had managed their affairs
during the period of wild and reckless
speculation which prevailed for some
years, which course had enabled them to
come out of the trying ordeal unscathed,
and by such action giving renewed as
surance to their patrons that safety is
with them the first and cardinal princi-
pie of true fnanciering.
1.-The general situation" said the gen.
tleman, lis most promising; the boun-
teous harvest of the past and favorable
outlook for the present year give assur-
ances OF continued prosperity to this
favored land, and add new and increas-
ing inducements and opportunities to
those who have come and will come to
make their homes among us.
"On the other hand, and / say this
with due sympathy and appreciation,
the success Of the miner has not been
coequal with that of the agriculturist,
but this, however, will be remedied SO
soon as appropriate legislation can be
had in this branch of industry.
"A serious detriment to the advance
ment OF the various manufacturing in
terests OF San Francisco may be found
in the combinations of labor, which
exact so much and do SO little. and
have almost paralyzed the various
industries struggling against the
competition OF our eastern breth-
rem, among which may be instanced as
especially prominent. the cigar, and
boot and shoe manufacturing, whose
former profits have almost become
present losses. The incalculable benefit
derived by Southern California from
competing railroad lines more than COM
pensates for the advantages accruing to
San Francisco by reason of geographical
position and accumulated wealth. and
that among the aspiring towns and pres
pective cities of Southern California
Los Angeles has been and must ever be
pre-eminent."
E. T. Spence, the president, was then
called upon to give an account of his at
tendance at the annual convention of
the Bankers association at New Or
leans, November 11th and 12th, which
he attended as one OF the vice presidents
thereof, and was honored by election on
the executive council.
He spoke of the genial and hospitable
manner in which the delegates were re-
ceived and of the pleasure he expert
enced in meeting the old financial awar
horses" of the east, and of the comfy
whichsseemed to exist between fnan-
ciers, irrespective OF their political affil-
iations. The addresses presented there
were especially meritorious, all the pro-
ductions having run the gauntlet not
only OF careful, mature deliberation in
preparation, but all being submitted to,
and approved by, the executive council.
No discussion on papers presented, how
ever. was INDUCED in.
Mr.. Spence's eastern trip was not con-
fined to the city OF New Orleans, but
took wide Erange through the fertile
fields Of the sunny south, and his genial
countenance and impressive form were
welcomed back most heartily to the
modest but enjoyable festivities in
dulged in monthly by the clearing house
bankers.
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