The herald., 1895-01-19
MONEY, BONDS AND STOCKS.
Henry Clews ON the Financial
Uncertainty.
Loca! Banking and Clearing House
News Notes.
Geavy Exports OF Gold-spsculation in
Wall street Foreign and
Domestic xchange.
Los ANGELES. Jan. IS.

Los ANGELES, Jan. 1S.
The uncertainty of financial legislation by
congress still hangs like pail over the coun-
try. Henry C,ews financial review of January
18th says:
1.-THE second week Of the new year shows
some improvement over the first in tone and
volume Of business and affords symptoms of q
recovering tendency in prices. The main ele-
ment influencing the market has been cur en-
cy legislation-its position in congress and its
prospective result Interest in that question,
however was quenched by the vote virtually
defeating the administration bill taken on
Wednesday, the more so, as it was construed as
fatal toany Legislation on the subject at this
session. The question, nevertheless, is TOO
vital aud has excited too deep an interest to be
considered as having been finally shelved; and
the nav congress m ly be expected to make it
leading issue. Wal st:e3t will therefore
keep its eye upon it as an important factor held
in only temporary allegiance"
Wall street will no doubt keep Its eye on con-
gress, but ii Wall street speculation alone were
concerned, the country at large might be none
the worse of in consequence of the financial
uncertainty. AS ths matter stands, however,
every line Of industry is affected southern
California feels the depression mostin the mat
ter OF bond issues, Tie placing OF irrigation
bonds and other securities is rendered very
difficult on account of the financial sringency
II 1t were not for the general mistrust which
permeaies the financial world, it would be an
easy matter to place southern California irrige-
ton bonds, as well rs the securities Of private
irrigation enterprises
1t is stated on authority, also, that there
would be no difficulty in placing bonds for the
construction of the proposed San Joaquin val
ley railroad, if there was mora stability to the
financial condition OF the country. a large
eastern railway contracting firm, in fact, is
looking into the matter OF building q line OF
railway through the San Joaquin valley to Los
Angeles to compete with the Southern Pacific
company, and would take the bonds in pay
ment for most OF the work, ii it were not Tor
the uncertainty rat pery4de the atmosphere
in financial C relies In view OF these facts, 1t Is
sincerely hoped that stable financial policy
will be speedily adopted By the government.
BANK CLEARANCEs.
The wet weather hal had n depressing effect
on business generally. Bank clearings show q
big falling off from the early part OF the week
Friday Is EXCHANGES amounted to $l4S. 969.91 /;
balances, SO, 1880.
The Security Savings Bank Trust company is
getting along nicely under the reorganization
President Sartori has the business fairly in
hand now and 1t promises to prosper greatly
under his skillful direction. M. Sartori is u
banker of established reputation and has the
confidence of the business community.
REDoNDo BEACH COMPANY.
At the annual meeting of the stockholders Of
the Redondo Beach company held January IA.
the following named gentlemen were elected
as directors for ths ensuing year: D. NJ Far
land, Geo. J. Ainsw0rth, Percy T, Morgan, ]. N.
Sutton, r. d. Wade, W. IL. Jusil. The board
organized by the election OF ID. NJ. Farland,
president, l.. t. Garnsey, first e-president; j..
N. Sutton, second vice-president J. W. An
derson, secretary and treasurer
At the annual meeting of the Reiondo Rail-
way company directors were elected as follows:
ID. NJ. Mcfarland l.. 4. Garnsey, George ]
Ainsworth, j. N. sutton, Percy 4. Morgan. The
board organized by eiecting d. Mcfarland,
presidents L. T. Garnsey first VICE president;
]. NJ sutton, second vice president and super
intendent; J. w. Anderson, secretary and treas
urer.
AT thu annual meeting OF the Redondo Hotel
company, directors were elected as follows: l..
I. Garnsey Geo J. Ainsw )rth. j. N. Sutton,
Percy 4. Morgan, w. H. Bonsal. This board
organized by electing L. t. Garnsey, president;
]. N. Sutton, vice presidents J, W. Anderson,
secretary and treasurer
Los ANGELES BANK STOCKS,