The San Francisco call., 1896-09-11
PACIFIC COAST BONDS.

The Los Angeles Chamber of Commerce. Board
of Trade and the Merchants Association make a
showing that within five years 81 10000 have
been invested in new structures in Los Angeles
Bonds Will be issued by West Palmdale, the re-
cent election having authorized such issue.
The Supervisors at Flags an, Arlz-, have lie wed
80 cents on each 500 valuation OF real and per-
sona property in School District No. /, Flagstaff,
for the payment of interest on the school bonds of
said district, and like Of 80 cents the dol
lar has been levied School District No at
Williams, ate a sinking fund and for the
payment of interest of the bonds of the district.
The Los Angeles Times says that the banks in
Los Angeles County have been calling in outside
loans, and as a consequence there has been in
crease in the number OF mortgages, the people bor
rowing money their real estate. For small
loans on City property, running from 5000 $500,
10 per cent net is asked. On of $1,000 and
over money can be had in Iimi ed amounts at
per cent net
a suit has been filed in the Superior Court at
Seattle by the State Trust Company TO toreclose a
mortgage OF S1bo.OUO against the Puget sound
Drydock Company. The state Trust Company is
Of New York. In the suit the complainant asks
that dward A Spaulding, who was appointed re-
celver by the Superior Court OF Pierce County,
when the company sued there by p d. Nor
ton et AL. be removed, and that new receiver be
appointed, and that the lien held against the prop
erty by Tnomas Clancy and Gillette erzog Manu-
featuring Company OF Minnesota by virtue OF a
iudgm ent against the Puget Sound Drydock Com
pany, rendered in Pierce County in 1894, be
made secondary to the mortgage of the State
Trust :Company. The Puget Sound Drvdock
Company November l, 1892, executed first
mortgage gold bonds to the aggregate amount of
S15U,UUO, there being 100 bonds of S1U00 each
FOR these, the company promised to pay face
value on November /, 1912, and interest al per
cent, pay able Semt-annualiy. II agreed that
in case default of nine y days made in the
pay ment OF interest, The principal should become
payable. these bonds were secured by mort
gage or deed OF trust, dated November J, 1892, on
three contiguous tracts of land in King CoJnty,
aggregatlng about 21S acres: also on the foundry
plant and machine shop then operated by the
company on the drydock operated at Quarter
master Harbor and on all property thereafter
bonds were indor5ed by the state Trust Company
and issued. No part Of the interest has been paid
and the state Trust Company asks for the
appointment Of another receiver; that the mort
gage be declared a first lien on all property as
security for The payment of the bonds and that
the property be sold at Sheriff's sale.
The Investor, published ut Los Angeles, gives
the following record for the week ending August
%:
III transfers amounting to $112,U25 54
56 transfers for nominal consider
ations.
SO mortgages on city prop
erty ty...........-....$ $l03,910 so
SO mortgages on county
properly ............ 46,907 21
15OSl7 OIL
32releases city property. 1O6.969 90
16 releases county prop
120,ees 90
81 building permits amounting to-. 5S,4SO 90
Some recent mortgages placed on record at Los
Angeles carried interest rate follows: S12, 1000,
payable in four iDstameuts, at 9 per cent: $4,000,
six years at per cent; $500, five years at per
cents $20,COU for two years, IL per cent; $4,000,