The herald., 1893-11-24
HOPEFUL OUTLOOK IN FINANCES
Interviews With the Savings
Bank Presidents.
Prospects of Resuming the Making of
Loans.
How the Bankers View the General
Business Situation--B B rief Talks
Upon tho Financial
Outlook.

''It is the general opinion" said a
prominent banker yesterday "that
things financial are taking on an air of
renewed activity in Los Angeles, as well
as throughout Southern California.
81 have heard it said that some few of
the real estate dealers are trying to con-
vey the impression to moneyed men and
savings bank depositors that they would
find it difficult in December to meet the
demands upon them. This has tend
ency to induce them to make loans at a
higher rate of interest which is one
cause for excessive demands for with
drawals.
"The fact that all the saving banks OF
the city," continued the gentleman,
shave given notice that they will meet
all demands, notices of which were given
during the run last June. explodea the
theory put forward by those who wish
to avoid the real facts. This action on
the part of the banks shows that they
have been managed in very conserva-
tive way"
The statement OF the banker gave a
key of which a HERALD reporter took
advantage and interviewed the officials
OF the various saving institutions.
1t was soon learned that. whether the
accusation against the real estate men
is correct or not, there is great con IT,
dence in financial matters. Indeed, the
outlook is very bright. 1t was the uni
vereal opinion among the bankers that
the prospects are more than re-assuring.
The restoration OF confidence lie now
complete.
Cashier J. F. Sartori, OF the Security
Savings bank, of which T. L. Duque is
president, speaking OF the final cial con-
dition and the outlook, said.
I'm common with the other savings
banks we have published notices that
wa are prepared to pay the November
and December notices of withdrawal on
demand. Although the notices have
been published during the last two
days, there have been only two depos-
itors who have avaled themselves of
the privilege. A number of depositors
have called and drawn small amounts
and cancelled notification for the bal
ance.
''It is quite probable that before long
the savings banks will notify other de-
positors who have given noticeIor JAM
uary to call and withdraw the money on
demand. The outlook is good for the
banks to resume the making Of loans
coon after the lst OF January.
Money has been much easier during
the last month, and the outlook for the
future is reassuring."
One of the directors of the Columbian
Savings bank, ofswhich T. D. Stimson ia
president, said that there is o continued
increase in deposits and Volume OF bus.
iress. "This of course" said he, Sin
dicates that it will not be long before
these banks will be in condition to re-
sumo the making of loans. The outlook
is exceedingly good"
Cashier Avery OF the German-Amer-
lean Savings bank, OF which e. N. Nc
Donald is president, said:
"The condition OF the money market
is steadily improving In Los Angeles, as
we'll as in the east. Depositors are daily
manifesting their confidence by cancel
ing their notices for Withdrawal of
money and making new deposits in
stead, very iittlsssmoney being with
drawn.
1--WE predict for the near future a
normal monetary condition. with full
restoration of business enterprises.
The patient and friendly manner in
which patrons of the banks have borne
the inconvenience of waiting for their
money, deserves for them large degree
OF credit, which we think all feel toward
them"
j. H. Braly of the Savings Bank OF
Southern California said:
1.-THE financial condition of the whole
country, and especially of Los Angeles,
has improved greatly within the last
two months. Confidence is restored.
Money is being offered more freely for
loans and on easier terms l believe
the new year will usher in much better
times.
II. W. Hellman, president of the Los
Angeles saving bank, and J. B. Lanker-
SHIN, president of the Main street
saving bank, were out when the inter
viewer called, but those connected with
the institutions heartily endorsed the
sentiments of those whose opinions
have been given.