The herald. [microfilm reel] (Los Angeles [Calif.]) 1893-1900, 1895-01-16
MONEY, BONDS AND STOCKS,
Something About Local Bank
Clearings.
Stockholders Directors of the
Chamber of Commerce.
The Course of Speculation in Wall Street,
oreign and Domestic Exchange.
Mining stocks.

lbs ANG sLHs, jul Id.
Notwiths;and ng the bad weather, Tuesdays
b INK clearings jumped up to 1884. OIL. I5; bal.
arces. $40, 1886.
An important matter that must be taken into
consid araton when making conpa.is ms be.
| tween Los Angeles bank clearings and the
c!eari1ss o; other cities OF the same &c, is that
very large proport OF of the banking business
of this city is not ref .ct,d in tn. cl, airing
house exchanges. In this city as in Chicago,
one bank does n busine IS far in excess of its
cont mporaries. The m jn:ty OF the hesvy
dcpositors patronizo this one b.ns. Most of
these heavy depo,itors are coipora:ions or
firms that disbu-se great deal of money by
checks. The majority of these checks arc pre-
sented ~ the bank they are drdwl upon for
collection. Whtn cas1ed by the bank they are
Issued against, they do not enter into the Gear
ing house Transactions. Only those checks pre-
s,nted st banks other than the ones they are
drawn upon go through the clearing house.
That is why the bunk CT earrings OF Los Angeles
are smaller in proportion to the actual volume
Of business transacted.
In Chicago, he same conditions obtain. The
tory of the jority OF the largest concerns thai
pay by checks and mos: of these CHI scks are
cashed at the same bank, SO the bunk clearinss
of Chicago are much smaller than would be ex.
pected OF so large financial ce lter
BASK REMOVAL.
The Main street Savings Bank and Trust COM
pany las rented the ROOM firm riy occupied
by the late Bank of America, at the junction of
Spring and Temp stree g, and will loon move
to the new quarters.
INV BROKERAGE FIRM.
Messrs Geo. Ii. Stewart and A. Il. Naftzger
have formei copartne ship to conduct
brokerage investment business in the base.
ment of the Times bni ding.
Forth past ten yea Mr. Na.ts ger has had
the man cement OF the First National INK OF
Riverside. end has been for seven years its
presiden'. Himself a fruit grower, he is C. ose-
ly identified with the industry, and is now
president of the Riverside Fruit exchange and
of the southern California Fruit exchang
kr Stewart has b en- he past eignt years
ASHER OF the Bank of America, and for 'everal
years secretary and mauager of the Los Ange rs
caring house. His msrcantiie and bAnk ng
experience of % years in California has also
given him an extended acquaintance through
out the state and his official connection with
the Califoinia Bankers association. since its
organiz alton in SOL, Kept him in touch with
Its leading financiers
CHAMBER OF COMMERCE DIRECTORS.
The stock holders OF the Los Angeles cham
Der of commerce LIT yesterday afternoon
tTussdsy) at PM and elected the five mem
bars of the tockholders committee.
Following are the names OF those ected, who
will be 10 e II bera of the board of directors for
the ensuing year: J. s Slauson, Z. C.
Kloske, George w Parsons, A. w. Francisco,
4. w, Jones',
These are in addition to the directors elected
at the regular election by the members last
Wednesday. The new toard will not take Of
fee before February,