The herald., 1897-10-09

Comparing the figures above given with
a similar summary of statements made by
the same banks as of the 14th of May last
1t will be seem that in little over four
months that have past the banks Of this
city have made material gain. In total
4Eesources the gain is $S3s s7S4.9S. In the
total amount of deposits the gain is s772,-
099.6S. At the same time the surplus as
to depositors has increased $40, ,103.41. This
may be regarded as an uncommonly fine
showing, covering as 1t does the summer
months. wheS business is ordinarily in
somewhat languid condition. The in
crease above noticed may also be taken as
indicative of thorough establishment
of public confidence in our local banking
institutions.
1t is announced that William A. Clark,
heavy mine owner, has agreed to pur-
chase 1000 acres comprising the Rancho
Cerritos and a thousand acres of the
Palps Verdes, adjoining, the land to be
utilized in connection with the sugar fac
tory already built on the Alamtos ranch,
the factory having been put up by Mr..
Clark for experimental purposes and the
result proving entirely satisfactory The
deal. II carried through, will prove very
important one for the sugar beet interests
OF this part of the state. Mr.. Clark is to
pay $4050O0 for his newly acquired prop
erty, and the closing of the deal depends
only, so 1t is stated, upon satisfactory
report upon investigation Of title. Some
regret has been expressed by one of the
parties interested at the premature pub
lication of certain facts in connection with
this deal, on the ground that nothing is
certain until 1t has happened. In view of
the fact that the seal of secresy has been
broken, there is no use in maintaining
silence about the facts any longer. The
land is undoubtedly admirably adopted for
the purpose desired, and the investment
by Mr.. Clark, who is the owner of the rich
United Verde Copper mines at Jerome.
Arizona, ought to turn out very success
full one. ]. Ross Clark, brother of Will
liam A. Clark is in charge of his brothers
beet sugar interests here, and expresses
his satisfaction at the prospects, going so
far as to anticipate the possibility of the
beet sugar production in this section of the
country extending to the supply OF
enough to meet the consumption of the
entire coast and mountain states.
The statement of the First National bank
of this city at the close of business on Oc-
tober shows resources amounting to
$2,631, 11493, gain over it's statement of
July 2Srd last of $1S5,245S9 Its deposits
have also increased, and now amount to
N.9Ss, 526.7S, a gain of $191, 7S7 10 in the same
period of time. The bank shows a sur
plus as to depositors of 1854, ,S79.36. The
statement is one of which the officers of
the bank may well be proud.
leading local firm says: The orange
crop continues to improve PROSPECTS,
were never better With wheat at the
dollar mark we look for fair prices for the
coming crop. Those that figure on add
ing the present duty to the prices of
oranges here will find that something un-
expected will happen to them. The aver
age grower wants no boom prices, but
reasonable price, that will remunerate
him for his investment and labor. The
benefit he can expect from the cent per
pound duty is that it will secure for him
the markets of the United States All
that the importers would, desire is for Cali
fornia growers to put prices up to where
they could come in on the same basis as
under the former tariff If anything like
favoc.'Es -,-ather continues this winter
California growers will have no trouble in
selling their increased crop at remunera-
tive prices. If they do not get prices in
fate~; above the consumers limit and re-
strict the consumption of oranges. The
ultimate result of such procedure would
be disastrous gluts in the markets.
+ 4 y
The record of ore shipments from South
ern kootenay, b. c., for the week ending
Saturday, September is, was the largest
ever known. The value of all ores and
matte entered at Nelson for the week was
21,O1S the total value of shipments for
September up to date, $500 3S7. The value
Of the mineral exports for the current year
TO September Is is s55i0,2iS
4 =
Klondike gold runs about 700 fine; Cali
fornia gold sometimes as high as 925 fine.
probably the purest native gold is from