The herald., 1897-07-11

company for the months of Februar,
and March, 1896, and we find the tota
receipts for the month of February were
$935640, and for the month of Marct
$11, 1861. being $21,14s.01 for the months
as shown by the above statement.
I'm witness whereof we have hereuntt
set our hands this 18th day of April
1896" CSigned).
"P. NJ. GREEN,
~. w. HUGUS,
''T. P. LUKINS.
"A. r. METCALFE,
Examining Committee"
The total receipts for the correspond
ing months of 1897, as per statement fur.
nished by Mr.. l. B. Newton, one of the
receivers, who also acts as treasurer
were $40, 91.21-less than half of last
years receipts. when it ought to have
been double, with the management un-
disturbed. Besides, under my manage
ment, it is well known that hotel fur
nishings of all kinds, table ware, store
room supplies, buildings, flags for deco
rations, bride roads, machinery, etc.
were always kept up in the most per-
feet condition. much of which the re-
ceiverS have not felt warranted in do
ing, and could not without a special or
der of court.
The expenses for the two months of
1896 above referred to were a trif1e over
$4,000, in addition to which we were en-
abled to reduce the company's indebted
ness more than $4,000, paying first at
tention to the retirement of certificates
given to employees during building oper-
ations, and this policy of first paying
off labor accounts would have soon left
the company entirely free from that
branch Of its debt-a policy I am sorry
to say the receivers were not able, ow-
ing to their position to continue. o.
though that part of the company's in
debtedness is quite small.
When myself and family had finally
made up our minds to make this section
of the country our permanent home, We
came with ample means to live life of
idleness, were it our disposition to dc
so but instead of adopting this course
we began first by the Improvement OF
the gas system of Los Angeles, reducing
the cost Of gas to consumers one-half
and at the same time improving its
quality hundred fold.
then organized the Citizens bank Of
Los Angeles. was its first president, and
at one time owner Of over so per cen;
Of its capital stock, which 1 was enabled
to sell as high as 120. when money was
needed to advance the mountain en-
terprise. 1t was my invention for the
production of ice that stimulated the or
ganization of the Citizens Ice company
Of which my bank took nearly all its
bonds, which from that day to this has
regulated the price of ice in Los Angeles,
bringing it down from $50 to $40 a ton
and less.
When we decided to make Pasadena
our home, learned that the gas COM
pany here was about to discontinue op
erations, not being able to make a good
quality of gas, and the price being so
high and the patronage so small aban-
donment being inevitable. l introduced
my improved system of gas making, re-
duced its price, improved its quality, and
with proper business methods soon
brought it into paying condition. in
which it has remained ever since.
1t also came to my notice that the ex-
pensive and elegant opera house, occu-
pyipg the center of one Of the most sub
stantially built blocks in the city, was
|
owners were in correspondence with
managers in various other cities for the
sale of it's fine scenery and trappings, its
elegant seats etc. ! looked upon this
as one of the greatest misfortunes that
could befall Pasadena, to abandon the
only fine auditorium in this section of
the country, and although I did not ex-
pect much returns for several years, 1
purchased the entire block, although the
price paid at the time being 25 per cent
of it's cost, it was more than many were
getting out of their boom speculations.
This was carried for a number of years
solely for the benefit of Pasadena, and it
has only recently begun to pay fair in
terest on the investment.
In designing and rebuilding our resi-
dence, whic was intended as our perma
nent home, it was planned with view,
more or less, to the entertainment of
strangers to this section, who would be
attracted hither by the institution l had
planned for the mountains and many
are familiar with the good that has al
ready been accomplished in this direc
tion and the advertising of the country
that has resulted therefrom. The build
ing of this house was the first evidence
Of returning hope and prosperity to Pas
adena after the boom
At the time of my arrival on the coast
the citizens of this section were agitat-
ing the subject of establishing half a
million dollar telescope upon one of the
submits of the Sierra Madre. had al
ways taken deep interest in astronomy
and meteorology, having given the lat
ter special study for over forty years.
and looked upon this section and su-
perior condition Of the atmosphere as
most promising field for astronomic
research, and after personal visits be-
came thoroughly convinced that DO such
conditions for this particular branch of
science, existed anywhere else on the
globe. I also knew full we'll that no
large telescope or institution of any
magnitude could be established upon the
mountains without having first some
| roadway for transportation. Having
| from childhood been more or less of a
| mountaineer, I could see at a glance that
great difficulties existed in the way of
| constructing any railway on these
mountains such as had been built ir,
other parts of the world, owing to their
irregular shapes, precipitous slopes and
deep canyons, and whatever method was
used to scale these mountains would
have to be the result of new inventions.
| This being in my line I soon devised