The herald., 1897-09-25
Los Angeles, Sept. "a, 1


a charge of one-tenth of l per cent shall
be collected from the payer of the collec-
tion, and in case of refusal to pay ex-
change, payment of the collection shall not
be received. No collections to be made
for less than 10 cents.
Books of blank checks will be fur
nished customers, but checks bearing name
of customers, numbers or special designs
will not be furnished, except at actual
cost price.
"All telegraph transfers shall be charged
one-quarter of per cent up to $1,000, and
one-eighth of per cent above that amount.
Funds paid out on telegraph transfers sent
here shall be as follows:
"Up to $1,000, one-quarter of per cent.
'Above $1,000. one-eighth of per cent.
mo charge shall be less than $3.50 on a
transfer of $1,000 to s2O00
"An escrow shall be defined as follows:
An agreement between two or more par
ties for a specified time. involving the de-
livery of papers. or payment of money, or
both.
"The following shall be the scale of
prices to be charged on escrow papers, and
the form of receipt to be issued:
Received from .............. five dollars
for deposit fee on escrow No. .., said es-
crow to be held by us under the conditions
named therein, and in the event of the
same being taken up and money paid, the
further sum of one dollar per thousand be
charged and deducted from the payment.
together with legal expense; provided such
should become necessary
The leading banks of Buffalo have re-
duced the rate of interest on interest
bearing deposits from 4 to 8 per cent.
\
Aggregate clearings for the first week of
September reach the enormous total of
s1,217, ,OO0, 600. Last year they were $780,
OO0, 900 for the same week, and the year be-
fore $946, ,O0O 900. In 1892, when the general
level of prices was somewhat higher than
now, the clearings were $1,126,00O0OO. 1t
seems almost impossible, says the Ameri-
can Banker to believe that We are at
present doing as much business as at the
same time in 1892, a year of great CONNER
cial activity. But New York City, whose
clearings have immensely increased of
late, has been invaded by hundreds of mer-
chants from the interior, who have expecta-
tions of great revival in the demand for
wares, and are now replenishing their
stores. which have been running down dur
ing the dull years. The immense amount
Of buying which is now going on has help
ed to swell the current clearings. They
represent, therefore. the return of conf
dence more than anything else; that hope
Of the future which induces merchants to
restock their stores in expectation of in
creased and more active consumption. OF
course part of the general increase in
the transactions of the clearing houses is
undoubtedly due to the revived state of
business, and also to the higher current
prices.
This is how 1t looks to the Chicago Real
Estate Journal:
Many of the successful dealers and bro
kers in the city say that our system of
taxation Is rotten and burdensome in the
extreme. and that real estate cannot be
made productive under such conditions.
This is the reason they say investors nat
urally prefer stocks and bonds.''
Y + +
The president of one of st. Louis large
iron companies, together with the president
of large pipe manufacturing company
of Chattanooga, lately visited the leading
pipe foundries Of England and Scotland.
The former gentleman, speaking of the
cordial way they were received and of the
frank manner in which they were shown
all the details of the business and shop
work, sa;s
I was in truth, much taken with the
open-handed, straightforward and honor
able way in which business of all kinds is
conducted In Britain. Everything Is open
and above board. A business mans word
there Is trusted, not regarded with suspi-
cton. The same high degree of honor and
personal responsibility obtains over there
In the hundreds of business organizations
having to do with prices and what not.
The minimum of prices fixed by associa-
tions IN the various branches Of the iron
trade, In glass, etc., has no lower depths.
il an iron or pipe man tells his customer
that he Will give him the minimum price
on certain article, that customer does
not go any further to look for a lower
price, because he has the utmost confidence
in the word of the seller. He knows that
ne cannot buy cheaper.
In public lettings of work, such secur-
ity as certified check is not required in
England to indicate mans willingness to
accept anu carry out contract in good
faith. To be able to bid on public work.
one must first be registered. and such reg
istry over there Is in the nature of q roll
Of honor. II one is not registered and de-
sires to put in bid, he must go before the
board having to do with the work and ap-
ply for registry. showing that he is a man
Of good moral character. of proper flnan-
cial standing, and that he has always car
ried out his contracts and met his obliga-
tions honorably and successfully. His bid
will be entertained only after he has done
this. In the building trades. the same strict
rules apply. The contractor must turn over
to the architect rcceipted bills for all the
material Of every kind used In the building;
then notice Is given by publication that all
outstanding claims against the building