The herald., 1897-07-30
OFFICE OF THE HERALD

OFFICE OF THE HERALD
Los Angeles, July 90 1897.
The Comptroller of the Currency has
called for reports from all the National
Banks for July 23d.
In answer to a question as to the right
of a bank to refuse payment of cheque
signed in a different way from the known
and recorded signature of depositor, and
as to the banks liability for damages in
the event of such refusal, the American
Banker says:
A bank has the right to protect itself
against loss. If an order or check be
couched in any peculiar and unwonted
shape and bears marks of a popularity
as to naturally cast upon it high degree
of suspicion in the minds of the officers
OF the bank, it seems only just that they
should have time to assure themselves of
It's regularity. The depositor, having by
his own eccentricity given sufficient cause
for the suspicion should not be suffered to
avail himself of his own improper act to
recover damages from the bank, or to put
1t to the veXation and expense of n law suit.
This rule certainly seems perfectly accord
ant with equity and not discordant with
law. q Morse on Banking, 36i.) The proper
and only safe rule for the bank o adopt is to
require the signature to be identical in
terms with the credit on its books. e Danl.
Neg. Inst 624 Tyron VS.. Oakley, G..
iowa' Ao''' - nc cieull pe SIMPLY
- ,e ~ ~ oI ,r .eu SIMPLY
a. D., anu IL II ne 10 "A. D. trustee, let the
a, So r,i"t W %s N. IN, Va' o.epiien-
cumstances surrounding the check as to
excite suspicion on the part of the bank
officers, time ought TO be taken to inves
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y
ne III, ehce tween SOU anu pau times In,
10 Iiit.t wien the outlooh Is piu Cd pl'alists
seN W ~ II piopeitS nv money IN pio
perous uaSs lhey seek 10 invest money III
Pnopelty; az me present tllne' says the
fhiauclal hecoro' capltai Is seeking III
Vesvilehv'
The Merganthaler Linotype Company.
according to its quarterly statement issued
under date of July l. 1897. shows cash and
convertible assets amounting to S247f 665
and liabilities of s12. 223 the net gain from
October l. 1896. being 81. 236 $50 Treasurer
chase of a controlling interest in the stock
of the National Typograpbic. a West Vir-
outside of Great Britain. The Morgan
thaler Company will now cease to have to
nav ROYALTIES on its machines sent abroad.
=
Renorts from France are NOT cbeering
The weather has baen very had for tha
vines and the nrosnects of n GREATLY dir,in-
ished cron are videsnreod severe stornos
have nrevaiIed tbrouebout tba r;cbest
crane prowinp regions' ca,sing gre,t DAN
age. A CORRESPONDENT of tbn London Wine
and Shirt Gazette writins from Rordeanx
Julv 9Th saws. ",rhe news we receive from
all quarters is lamentable for when the
treatment tha harvest has already do
creased NV two-thirds The rise in nrices
continues and tho Growers do NOT caro- IN
sell their wine as thev infer NOT without
reason from the present prospects that
toward the end of the wear their mer-
chandise will have acquired a rare price
which shows that after all a. bad wear
now and then is good for something. Ac-
cordinp IN all accounts the scarcity will
pared only with the most disastrous years
VI INC Piis iioAei' an Peiiou' Avn oile can
foresee, therefore, to what inquire the
prices Will rise.
l. l. 4
LONDON is IN the market Tor large loan,
the 1rst INSTRUMENT OF winch was awarded
on the oth: Inc amount was 5L2ooOoo IN
az los ponds at re per cent. Inc minimum
price was liked at Ilol. Proposals re-
celved amounted TO t'l,oi ooo at dlol TO
1loo. Inc AWARDS averaged 5lol Us o. at
Ieast o. per cent OF the total pelhg placeo
at alol, ana the balance above that hgure.
on call in the Landau market was ouoted
at seven-eighths of l per cent per annum,
so the investors considered themselves
lucky to get G10O debenture stock, bear
ing 21a per cent interest at G10l.
The twenty-six breweries of Detroit have
been indulging in the pastime of fight
ing each other, and as a result the price
of beer has been brought down in that city
to 81 barrel. And row an English syndi-
70 81 t1a,,, NJ. ~ Soouie up 'lie :" ny
take them all in paying half cash and half
to the terms.
+ + \
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"ioiieirr ~. "S - oi.eScu oWHers VI the