The herald., 1895-01-09
MONEY, BONDS AND STOCKS,
Los Angeles Clearing House
Exchanges.
Annual Meeting of Banks and Other
Institutions.
Speculation in Wall Street - General
Financial Review-Foreign and
Domestic Exchange.
Los ANGELES, Jan. s.

LOS hNHElEst jan. o. b
The bank oiearapcss dropped off little on
Tuesday, butstiu amoqntto respectable sgsat
the exchanges being 1892, 31291; balances,
SEQ, 949.I3.
Nearly all the banks that have held their an
nual meetings up to this time have reelected
the old boards of directors. All the reports sub
mitted show an encouraging condition of bust
ness, considering the critical period OF finan-
cial depression just passed over.
FARMERS AND MERCHANTS BANK.
The quarterly meeting of the stockholders Of
the Farmers and Merchant bank was held on
Monday. The report submitted was the most
fattering in the history OF the institution. The
regular quarterly dividend of IS per cent per
annum was declared. The non-interest bearing
deposits in the bank at the close OF business
December 81, 1894, amounted to So, SOB, o / s OF.
This is the largest amount Of deposits IN the
bank al any one time since the palmiest days of
the boom. The total available cash is set down
in the banks annual report at 81 ,57I. 1926.
The new year has opened with the prospect OF
greatly increased volume OF business being
transacted by this old. reliable financial insti-
tuition.
FIRsT NATIONAL.
The annual m seting OF the stockholders OF
the First National bank was held Tuesday at
10 a. m. About three-fourihs of the stock was
represented, ana the session was characterized
by the utmost harmony. Judge NJ L. Graft
presided. President Elliott on behalf of
the board OF directors, submitted re-
ment i'll the condition OF the bank during
the past year, Notwithstanding the pauicky
times 1t had to contend with. dividend of
per cent was declared for the year. The old
board OF directors, consisting of the following
wel[known gentlemen, was reelected by
practically unanimous vote ]. NJ. Elliott ]. D.
bicknell, W. G, Kerckhon, f. Q. Story, J. d.
Hooker, H. Jevne and W. G. Patterson. About
30 per cent? OF the stock represented was voted
for the gentlemen named. The directors will
meet at 10 a. m. Wednesday to elect officers
for the ensuing year. 1t is not probable that
any change in the present eflie staff Till be
made. The bsnk has deposits aggregaiing over
$l.o0o,OO0i capital stock of 100000 and
$780, undivided profits
UNIyERsITY BANK.
meeting of the directory of the University
bank was held on Monday. Cashier George I.
Arnold resigned and Mr.. D. t. Welcome was
elected to the vacancy. 1t will take six months
or more before the affairs OF the bank are
wound up.
PORTLAND CEMENT COMPANY.
The annual meeting of the California Port
land Cement conf any was held at the CONF pa
ny's office, las South Broadway, Tuesday after
noon. The following officers were chosen:
Ernest Waycott, president; ]. R. Toberman,
secretary and treasurer; s. w. Little. R. H Way
colt. J. H. Renner, F. H, Jackson, directors.
This company was incorporated September 10,
1871, since which date it has become firmly
established III business which now consti-
tutes one of Southern Calfornia's chief home
industries. Millions of dollars have gone from
this coast to Europef for cement in, years past,
and 1t was with the object OF stopping this
drain thatth California Portland Cement com.
pany was organized Its works at Cotton have
a capacity of 200 barrels per day, and it is
claimed'tnatthe product is as good as any
brand of the imported article. 1t has been ex-
tensively introduced, and if it continues to
grow i'll favor with builders and contractors,
will eventually supply the entire home market.
LOCAL STOCKS AND BONDS,