Los Angeles herald., 1892-07-03
OUR PROSPECTS.
THE SITUATION AS GAUGED BY
BUSINESS MEN.
What Bankers, Business Men, Real
Estate Dealers and Merchants
Have to Say About tho Out
look This Year.

"A HERALD reporter, Commissioned to
obtain the views of some of the repre-
sentative citizens, composing the fnan-
cial and mercantile classes of this city,
upon the prospects and the outlook
during the present year of business and
crops, herewith submits those inter
views to the reader. On the whole the
sentiments expressed are very sstisfac-
tory. but the public will have no diff
Guilty whatever in forming an opinion
for itself from what our bankers, COM
mission merchants, real estate dealers
and wholesale houses have to say upon
the matter. The interviews are brief
and to the point.
J. M. Elliott, cashier First National
bank. Los Angeles-The money market
during the spring past has been much
better than anticipated. Owing to the
shortage OF the orange crop, it was
thought by some that money would not
be as plentiful as usual, but the vegeta-
BILE products sent east have to great
extent supplied the loss of eastern ex-
change occasioned by the short orange
crop, and with money brought here for
Investment by eastern parties, the
money market has been on the whole
very good. While brisk business dur.
ing the summer is not particularly ex-
pected, still, no actual shortage, it is
thought, will occur, and money sufficient
for reasonable demands will be forth
coming. Money to invest on mortgage
is especially plentiful, with a tendency
to lower rates on specially fine invest
ments. In fact some of the mortgages
heretofore held by San Francisco saw
ings banks have been latterly taken by
home institutions.
Agricultural prospects being, in my
opinion, exceptionally good, look for a
continuation of prosperity during the
coming year, Notwithstanding the large
number of people who will be attracted
to Chicago by the worlds fair.
The financial condition of the city and
county is eminently sound.
d. K. Edwards, of Newmark & Ed
wards, grain dealers-The cereal crops
in general are very much short of last
year. The wheat crops in the San Fer
nando, San Gabriel and Antelope val
leys will be less than half crops, perhaps
not over one third. The barley sections
of the county, notably towards Santa
Monica and Redondo, are better.
Threshing has begun, and it is hoped
the yield of the county will be 60 to 70
per cent of last years crop.
This shortage of crops is due to the
absence of April rains, very notable
exception in this section during the wet
season.
Corn acreage is about the same as
last year. Its condition is at present
fair. That on lands that cannot be ir-
rigated or that are not naturally damp,
showing signs that moisture is needed.
The prospects for prices of both wheat
and barley are good, our market at
present being about that of San Fran
cisco.
John Miner. cashier Farmers and
Merchants bank--There is plenty OF
money in the banks; it is easy and free
ly loaned on good security. Rates oi
interest vary from 6 to 10 per cent per
annun, according to amounts and con-
ditions of loans. Prospects of good
crops in this section will tend to materi-
ally improve the financial market.
Generally speaking, prospects are good
all round.
Hawley, King & Co., dealers in carri-