The herald., 1897-05-20
OFFICE OF THE HERALD,
Los Angeles, May 10, 1897.

the United States" forms the subject OF a
current magazine article from the pen OF
Mr.. Charles D. Lanier. whose acquaint-
ance with his subject will not be disputed.
Regarding the qualifications necessary to
make a successful bank president Mr..
Lanier is very plain spoken. He says In
part:
"There 10 no single sympathy. no ac-
complishment, no physical attribute which
may not contribute to the success of the
head of q bank. :. There Is no
quality of alertness or adaptability which
does not aid in the work of making friends
for the bank, 1. e., depositors. A perfect
bank president should be one who can
hold his own with zest. and yet with dig
nifty, among the roistering class of Wall
street men in their late dinners at the
club. who can shoot with them. drive with
them. and who can also impress the staid
and straight-laced citizens who are his fell
low vestrymen as pillar of respectability.
Doubtless 1t may sound.
when stated in this cold-blooded way. as
II too important part were assigned to
the arts of the mere lobbyist is describing
the work OF a financier. But, indeed when
the truth Is known, few competitive busi-
nesses of any sort, great or small, are made
successful without vast deal of infiu-
ence from the personal and social quail
ties. There are minute
gradations Of the art Of bringing the per-
sonal equation to bear on ones business
success, and while the banker uses only
the higher and more sublimated branches,
they are as necessary to him as, In q more
urinary form thev n marina tat IN
insurance agent. No
matter what the brilliant social qualities
Of banker. there is no probability that
his friends will become depositors with
him If any lack of confidence exists as to
his business ability or integrity"
"In speaking Of the great necessity for
honesty in paying tellers, Mr.. Lanier re-
lates an occurrence which happened with
In the past year: "a very well-known
bank had a teller who was so efficient and
had been in the employ of the institution
SO long time, that he came into the
responsible charge of large securities to
degree that was very unusual. This was
so marked that the officers of the bank
determined to double the bond of the pay
Ing teller, and told him Of 1t, explaining
that the great responsibility he held made
1t only business-like thing for them to do
to. could slip package of large bills
two hundred thousand of them-into my
pocket. send word the next day that l
was Ill, and be beyond the reach of your
courts almost before you knew of the
loss. What does $4,000 or $40, 900 bond
amount to" 1t was absolutely true; but
the curious part of 1t was that at the very
time the man was discussing the matter
so frankly, he was speculating on securi-
ties distracted from the safe in his charge.
and eventually made a loss to his en-
ployers of no less than 100000"
Independent examinations of banks by
expert accountants are growing in favor
Not few institutions throughout the
country have adopted this policy of fire.
quent overhauling and verifying of ac-
counts, and with most excellent results,
Russian Railway Bonds-The issue by
the vladkavkas Railway company of
f3132. 500 per cent guaranteed preference
bonds now being offered in the Berlin mar
kef IS free of taxation. The issue price in
Germany will be 10050 Provision is made
against any drawings on an enlarged scale
and against total redemption or CONVEX
sion until 1908.
A cable that Japanese per cent loan
of from eS.5O0,OOO to s4,000,0OO is expected
shortly.
American shippers who contemplate en-
tering the Mexican field will do we'll to take
advice from exporters who have had ex
perience in these markets, says Modern
Mexico. 1t will not do for the wholesalers
Of the north to come to Mexico with the
idea that they are comforting benefit on
the country by introducing their goods,
0R ~ 6nrr 49,
and styles in vogue here. There is probably
no country in the world that dislikes
changes and innovations more than Mex.
leo. and while Mexico Is changing and
adopting modern ideas of every kind the
changes must come from Within they can.
not be forced upon 1t from the outside,
American manufacturers who want to sue
coed in introducing their goods in this
field must study the wants and needs of
theiE Mexican customers. Houses that
do not take this trouble, that do not send
representative here or make consign-
ment OF goods to responsible commission
agents. that do not advertise their wares,
that do not pack their goods so as to
stand the long shipment, and that are not
prepared to give the long credits customary
in this country cannot expect to success
fully compete with firms in their own ana
other countries that do these things to
secure and satisfy Mexican trade.
United States consuls in all Spanish.
American countries are constantly writ
ing about the careless manner in which
American manufacturers pack their goods.
They all agree that until the exporters of
this country learn to deliver their goods
to foreign countries, as France, Germany
and England deliver them, they cannot
hope to secure their proper share of the
business.
On January /, 1897 there were fifty-six
legal reserve life insurance companies
operating in the United States. OF these
two are Canadian companies, and one.
the Nederland, has its home office In Hol-
land. If We regard the United States
branch OF the latter as domestic company
there were f1fty-four companies whose
assets, amounting to $1,249, Az, ,os3, are In
vested In the United States, in compliance
with the requirements of the various state
insurance laws. These fifty-four COM
panies collected in premiums last year
$22S, ,430. 4S9, and expended $195, ,12O, sos. They
have outstanding insurance aggregating
$C.058 803. of which $500, ,039, SIT is on in.
dustrial policies, and their combined sur.
plus, over all liabilities to policy holders.
is $179,07S,17S.
The decision of Judge Mcpherson in
Pennsylvania on infant insurance has
caused more foolish discussion than would
have been possible at almost any other
time, owing to the fact that there are bills
before the PENNSYLVANIA legislature m nro