The herald., 1893-06-26
A THING OF THE PAST.
NOTHING LEFT OF THE PANIC BUT
REMINDERS.
This Week VIII See Several Suspended
Banks Reopened--The Northern
Press and the bonds of the
Consolidated Electric.

II 10 prob=ble ti.at today tonao-row
the second of the suspended banks to
resume will be the Broadway though
the University is likely to run it close
race on getting its doors open again.
Judge Widney on Saturday succeeded in
making his bank stronger than it had
been before the crash.
The First National ia morally certain
to be open in few days and it is learned
will be go strengthened in both its cap
ital and stockholders as to be one of the
most formidable institutions in Southern
California.
President Breed of the Southern Cal
ifornia has things well in hand for re-
sumption and all in all the situation is
pleasant and every prospect pieases.
"REMINISCENCES OF THE RUN.
A few reminders of the craze are yet
to be seen. Nearly all of the merchants
have placsrds posted in their windows
to the effect that they will take checks
on any bank in payment of accounts.
An enterprising barber has put out a
similar sign and people can pay for their
shaves with checks on the First Ma.
tionsl, University or City bank.
A saloon man on Spring street dis
plays this sign: despite the run on
us we are still open. The hotter the
times the cooler the drinks"
THE CONSOLIDATED RAILWAY.
The San Francisco papers have, dur
ing the recent panic, shown again the
animosity which seems to prevail in
the north against Southern California
institutions. In view of the fact that
the Pacific bank which closed last week
in San Francisco held some bonds of
the consolidated system of street rail-
ways of Los Angeles, the papers there
have taken occasion to decry the value
OF these lines. As far as this vast prop
erty goes tits all right, and more than that
can bear comparison with the San Fran
cisco lines in most satisfactory way !;
in fact if it comes to a showdown, it is
doubtful If San Francisco capitalists
would enjoy a thorough showing up OF
the condition of their roads.
In theee times a bacEhanded slap at
ANY lAbbAbUblOu VI LUb AuKcl6b
is proper subject for inquiry. A HER
AID reporter yesterday found Superin-
tendent Aiken of the cable railway who
hasabeen with. the company six or eight
years and Receiver Trask justly indig-
nant at tho aspersion on the bonds in
question, which, while not yet technical
ly covering both the cable and electric
systems will do so, and by agreement of
all parties concerned do so now.
AS an indication of how things have
been scaled down and the satisfactory
condition of the affairs of
these lines few figures may
not be amiss. When Mr.. Holmes
of Chicago took the street railways OF
this city some years ago there were only
about 20 miles of track. He succeeded
in short time in floating bonds on this
system to the amount of $3.64c 600, and
added floating debt of 81 900, 900, maxi
ing the entire liabilities $4,640,00O.
At the present time the system, virtu-
ally consisting of all the cable and all
the electric, and nearly all the horse-car
lines, has only bonded Indebtedness of
$4,000, 900, on mileage, including horse
car lines, of ITO miles, and with earnings
three times what they were in Mr..
Holmes day. AS stated, these bonda
about which the northern press has had