The herald., 1894-04-10

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cording OF deed or mortgage of q dat
anterior, perhaps, to the credit giveI
him. Such trading on papor title
should be prevented, and such law
passed as would give attachments pre-
redeuce.
IL is also possible under th'
general assignment law for a secured
creditor 10 secure 100 per cent of hi
claim. while to the unsecured ther'
comes but paltry dividend. Our mex
legislature shou!i be urged to harmon
izs such Inconsistencies.
The supreme court has baen inclined
to hold that only the frnuds enumer
ated at length in section A. o, the in
solvent act ehould operate to prevent &
discharge. It is a rule OF evidence thai
if man testiies falsely once he may be
always discgedited, 40 in insolvency any
fraud against the true intent OF the acl
though not enumerated ehould prevent
a discharge and thus deprive such per
son OF an opportunity OF again detsand-
ing his creditors.
The insolvency cases in this county
could be more satisfactorily ~ tnased u
thev were all set in ono department rs
they were prior to October l3, 1892. .
Moreover, the details OF insolvency
law are entirely statutory and, as with
probste cases, q grolter volume ot busi-
ness eau bs transacted with greater die
patch ana accuracy whom under the
direction OF mind accustomed to that
special practice. In our opinion you
should request the judges OF the superior
court OF Los Algeiss county to aasign
all insolvency cases to one department.
PRESIDENT REPORT.
Mr. s. II. Howell the president, sub
mitted his report as follows:
GENTLKMEN- submitting my report
of the lbs Angeles board OF trade for the
past year l shall contine myeelf more
particularly TO its lsbors in the interests
of it's mem bers and the trade generally.
marked by financial depression all over
the country we have, in measure, been
Tree from any serious calamity; and l
know that you will join me in conRratu-
lating the good people OF Southern Cal
ifornia upon the healthy, continued
we have and are enjoying
today.
Permit me to say that I think it
would be well for this board to look into
the matter OF its membership. There
are q great many large retail merchants
in this city who would like TO be 1850
ciated with ug, but their business is al
most entirely with the consumer, there
fore outside the regular line of the
jobber; and, with our present rules and
bylaws, THAR benefits would be too
small to justify the pay of our en-
trance fee and monthly dues.
While it is stated in our articles OF in
that the purposes for which
this board is formed are, among other
things, ito prevent fraudulent settle.
ments by dishonest debtors" and ito
investigate the affairs OF insolvent debt.
ors," it has been frequently claimed
that the affairs of insoIvent debtors
seeking to make compromise settlements
are not always submitted to the closest
and that such debt
ors too easily obtain the settle
ment asked for. l submit that it ia the
duty OF every member not to agree to
in any case unless he is
iuliy Satisfied that the same is war
,anted by the conditions and circum-
stances surrounding the case. 1t is a
iuty which you owe to yourselves, to
your fellow iobbers, and to the balance
Of your customers.
l would cali your attention to the i'm
portance OF some sort OF negotiations
with the railroad companies, looking to
the reduction OF eRst-oound freights on
some of the products OF Southern Cali
iornia. There is, certainly, no good r ca
son for their charging Sl.20 for 100 lbs.
on dried fruits. $l.25 per 100 lbs. on
oranges, and then hauling our canned
goods over the same lines at 80 cents
per 100 lbs. Mind you, in making this
report, it ie not my intention to take
lesUe with these great lines OF railroads,
crossing the continent as they do and
bringing US within few days reach OF
our eastern friends, for we know too
well the value OF their assistance in de-
veloping the country; but let our re-
marks take the nature of an appeal for
reduction in rate on few of our prin-
cipal products.
| am sorry to note that we have Moth
ing encouraging in the way of an ap'
preparation from the government for
the improvement OF our hsrbors. 1t is
to be hoped that the contending inter-
ests of the supporters of the several
proposed sites for harbor will soon be
amcably settled, so that united and
harmonious action may be taken by our
people to secure this much needed i'm.
proyenlent.
We look towards our sister organiza-
ton, the Los Angeles chamber OF com
merce, with feelings OF frsternal love,
and note with much satisfaction the
solid work it is doing for the whole OF
Southern California. We are indebted
TO this body for the assembling in our
city OF the international irrigation
congress-, whose labors are sure to add
largely to the wealth and resources of
this country. We also owe the cham Der
a debt OF gratitude for the unparalleled
success OF our exhibit at the worlds
lair, and for that oil the exhibit which
is today attracting the attention and
admiration OF thousands at the mid
winter fair in San Francisco.
To my mind. one OF the most desira.
BILE and most important things for this
city is the erection OF an elegant, well
equipped hotel. Those we have already
are good enough 80 far as they go, but
we all know that they are unable to take
care of our visitors. Would it not be
we'll for this board to cooperate with
the chamber of commerce asd the citi-
zsns at large in an effort to bring about
this much needed improvement?
On May 9th. 1898, your president was
requested to appoint a delegate o the
congress of boards of trade to be held in
Chicago the following month under the