The herald., 1893-10-22

producs could be bought here below the
ruling price for the same thing in Chi
cage has been of no effect in making
sale; and standard goods have gone
begging which formerly would have been
snapped up quickly. 1t 10 not the east
eru quotation that rules the market just
now, so much as the question whether
the dealer has immediate use for the
goods offered. Hence the market is
dull but steady as a rock.
The movement of the crop of dried
fruits, raisins. walnuts, etc., in Southern
California has occssioned quite a heavy
demand upon local banks. the custom
of the grower or shipper being to obtain
advances on consignments, giving as
security draft on the consignee with
bill OF lading attached as collateral. 1t
is evidence of the improved condition OF
things that several OF our leading banks
nave been doing an active business in
thus assisting the wheels OF commerce
to revolve, and there has been no un-
usual difficulty experienced in getting
advances, where parties have been res
ponsible and the security such as con-
servative banks would handle.
Loans on real estate are in consider
able demand, and some money is being
let out by private parties, but the con-
dition of the savings banks continues
to be one of great difficulty. 1t cannot
be expected that these institutions will
be able to loan money to any extent
until they find cut how far they will
be affected by the notices served on
them in June and July last If all the
deposits then notified to be withdrawn
should be actually withdrawn 81 the
end of the six months, there - no
doubt that there would be another
"eoueeze," and to prevent this possi-
bility the savings institutions have
been calling in their best loans so as to
be prepared for the emergency. Un-
doubtedv many depositors will want
their money, thinking they can get a
better interest for it, or desiring to
make investments in real estate. On
the other hand 40 much money thrown
on the market at once will run down
the rate of interest, and the OnDOsitor
who desires only an Interest return will
put his money back in the bank from
which he took it.
TAXES.
There is a sum OF about $3.50, 900 to
be collected by the city tax collector.
vi bHlb WAiCH AZ PhyopiO AZ
two installments, he says he has re-
ceived some 100000 and before the
first payment becomes delinquent on
November 9th he expects to get in the
full moiety of the total amount.
During the fret two weeks OF the pay
ments in this Office it was q noticeable
fact that nearly every taxpayer paid in
cash and to such an extent that it
Cd ha dro un from,
private boards, but latterly bank cheques
have appeared in abundance.
AS TO COUNTY TAXES.
The most regrettable feature about the
payment of county taxes seems to be
that the large amount thus turned in
will be absolutely withdrawn from cir
culation until such time as it may be
disbursed in the ordinary course OF busi-
ness by the supervisors. The four banks
which were to have been the depositor-
les having withdrawn, and the county
treasurer being obliged to furnish new
bond, it appears as if the funds will
have to be locked up in the treasurer's
own vault. All of which is considered
a very safe proceeding, but not exactly
in accordance with the best interests of
the community. Money, to he of use,
should be kept in active circulation.
THE LATE FIRE.
The Spring street fire in the Stowell
block a fve-story stone structure, was
much more serious than an inspection
of the exterior would suggest. The
chief damage was by water, which was
pouring into the building in torrents
from the rear long before the spectators
on Spring street had any idea that the
fire had been touched. The loss of the
Cass & Smurr Stove company has been
adjusted and settled at $l1, 800. The
Athletic club loss has also been adjusted
and the other losses are in course OF
settlement. From fire to
WATER.
ia an easy transition. Not the least in
teresting proposition before the tax
payers is the pending water question.
Quite an amount of discussion is going
on about items of city expenditure in
volving a few hundred dollars at the
outside, and in the meantime little or
10 attention is given to a proposed
scheme involving the expenditure of
several million dollars. Last October
the water company made proposition
to the council, and that august body in
its wisdom took no action thereon.
Now two wise men from the east,
Messre. Pierce and Shafer, came before
the council with another proposi-
tion, the water company having
in the meantime acquired the
hill system. The matter has been
ordered submitted to committee of the
whole, and there it rests, slumbering
peacefully. It dees seem reasonable
that the committee should come out of
the hole and take some definite action.
This time the taxpayers should have
chance to decide whether shey want the
waterworks at the price asked.
REAL ESTATE.
There has been some movement dur
ing the past week and the inquiry con-
tinues brisk. OF actual sales reported
to the editor of this department, the
principal one ia OF 22O0 acres, about four
miles from San Jacinto, in Riverside
county, which has been purchased by
easterners for colonization purposes.
The deal was made by Fraser, Cook and
Pearsons, who had themselves bonded
the land. The consideration ia stated
at approximately 500, 600.
Messrs. Gowen, Eberle 4 Co. also re-
port about $15, 600 of city property sold
by them during the past week, which
includes deal of $500 closed yesterday.
The demand for houses continues un-
abated, and the activity in building