davidaulloa/AmericanStories huggingface dataset:
The herald., 1897-09-26

Estate of John Miner (deceased)-
confirming sale to Ferd x. Rule of west
erly 65 feet of lot 2, block 6, Bells addition;
S1033
Mrs. z. Maskel. to ]. w. Beebee-Lot
4, Maskell tract; $4,000.
Adams-Phillips company to R. I. Perry
North half of lot Is, Patten Bros. subdivi-
sion; $1,000.
Same to A. ]. Stephens-Lot Is. H. W.
Ogden's subdivision; $1111.33.
A. G.. and o. e. Parish to Adams-Phillips
company-Lot 3, block NJ, Knob Hill tract;
$3.50.
e. Dusinberre to P. Fuller ct al.-All in
terest in estate of r. M. Fuller deceased; !;
$3.50.
A. B. de Gaffey and d. b. de Ward to H.
W. Tilton-Lot 13, block 6, and lot 15 block
T. Gaffey & Wards subdivision of Esper-
anza tract; $400
j. Sellers to L. McNany-Lots 2, 8, 4, s,
and Z, block b, Currier tract; $1,000.
p and A. M. Doran to C. s. Ayres-Lots
and 4, block G, subdivision No. of Azusa
Land and Water company; also lots and
7, block 81, Azusa $225o.
w. M. and A. r. Sheldon to e. T. Kuss-
man--Lots and S, resubdivision of part Of
southeast quarter of section 10. township
Q south, range 13 west; $4,000.
@. Pinger to e. D. Brown-Lot II, Thomas
q Galbraith tract; $1,000.
A. 8. and M. L. Shorb to q. Claybrcoke
The herald., 1897-09-26
Los Angeles Clearing House
Business for the week ending September
" 1907.
ON CHANGE
What Was Done Yesterday on Wall
Street

NEW YORK, Sept. 25.-There was no
large and aggressive element in the stock
market today, and the trading was largely
IN the hands of the reactionists. They were
persistent in seeking for the weak spots
in the market, trying to uncover stop loss
Iorders. This they succeeded in doing in a
number of stocks, and accelerated the
decline. There were a few feeble rallies
during the day. but the sagging tendency
was for the most part uninterrupted. Deal
ings were not on large scale, nor were
they as widely distributed as of late
Many stocks showed no movement at all
during the day. The rise at the opening
in sympathy with London served to re-
strict the net declines in the international
stocks, and London also was buyer of
| some stocks during the day. There was
nothing In the general news to cause a
recession in prices, and the heaviness OF
the market has no other explanation than
the withdrawal of support and the con-
tinuance of some offerings to realize profits.
The bears did some short selling in their
efforts to uncover stop loss orders, but
there was no aggressive selling manifest
and much caution was apparent in putting
out short sales. The trading halted after
IL o'clock and waited for the bank state
ment. The response was not Immediate
when the statement appeared showing
some hesitancy about constituting its char
acter. An unfavorable view was finally
adopted and prices dropped downward
again, closing in many cases at the lowest
of the day. In some stocks, however, there
was final rally of a fraction. Sugar COW
cred range of over points. butclosed
unchanged.
Interest today centered in the weekly
statement of the clearing house banks.
The condition of the money market, the
weeks development was looked upon as
the salient factor In determining the course
of speculation in the Immediate future
The most notable feature of the statement
is the decrease shown In deposits of $10,-
6O2. 50O The actual loss in cash was $751;
800, all in legal tenders as the amount of
heavy decrease in deposits represents the
demands from interior banks which have
had funds on deposit in New York banks
for many months. The proportions OF the
Withdrawals accounts for the sudden fall
ing of loans during the week, and was at
tributed in speculative circles to con-
certed effort to manipulate the money mar
ket
The contraction in loans is stated at
81, ,72S 300, and this contraction served to re-
duce by so much the loss to the banks in
actual cash and to save a corresponding
additional decrease In the surplus reserve.
The fact that the decrease In the surplus
reserve Is not as large as expected IL due
to this fact, and also the fact that the
legal reserve is brought down to $2,650, ,625
by the enormous withdrawal Of deposits.
The contraction Of loans In face Of the
The herald., 1897-09-26

active speculative demand prevalent am
ply accounts for the st1ffening of money
rates and the falling off in speculative ac-
tivity on the stock exchange. 1t demon
strates that the sudden rise in money
rates on Monday was not manipulative
movement in the bear interest. but was
a natural reflection of actual conditions.
1t points to a speedy further fall in ex-
change and to the large additional imports
of gold, unless the money rate in London
and Paris rises to point where 1t would
be more profitable for creditors here to
leave their funds there. 1t explains also
the action of two of the city banks, not
usually dealers In exchange, In engaging
gold for import early in the week, in face
of the almost unanimous opinion of the
foreign exchange bankers that the opera
tion would yield no profit The first en-
gagement of gold was made by the largest
of the city banks, and probably was based
on Its knowledge of the conditions operat-
ing upon the money supply. The calling
and consequent shifting of loans at the
higher rate of interest has been the pre-
dominating interest in the stock market
which has been reactionary all week. with
the exception of today. The reaction de-
veloped late on Monday, coincidentally
with the rise In the money rate and after
stocks had touched the highest price of
the year, earlier in the day. the reports
as to the nature of the representations
made to Spain on behalf of the United
States in regard to Cuba by General Wood
ford, the United States minister gave
keen instrument to the reactionists, and
they used it, together with the spread of
yellow fever, to advantage on Tuesday.
On that day, liquidation resulted In the
sale of nearly a. million shares of stock.
The only rally was that Of Wednesday on
the beginning of the gold import move
ment. There Is feeling that the reaction
is healthy one. and was, in fact, over
due. 1t is expected to shake out any
weakly margined holdings of stock. and
has left them in possession of holders less
likely to succumb to a casual reaction. 1t
was said also that the advance in price
had rather more than discounted the i'm
provement in business, and the increase
in the earnings of the railroads. a nota-
BILE evidence of which was afforded by the
increase during the week of the Rock Is
land dividend from to a per cent
basis. Therefore, with all the news con-
tinuing to reflect improvement of busi-
ness, all the elements in Wall street have
practically acquiesced in the reaction or
have interposed no strenuous ress tance
to it. The declines range all the way from
|3 to points in the most active stocks, and
Consolidated Gas has declined liz.
The railroad bond market has been less
active and only the speculative issues
showed any marked sympathy with the de-
cline in stocks.
The herald., 1897-09-26
SAN FRANCISCO MARKETS
Call Board Prices of Cereals and Ship
ments Received

SAN FRANCISCO, Sept. 25-Wheat
weak; December, 1.50%; May, 1.50A. No
barley. Corn, large yellow, 1.10@1 121a.
Bran, 14.00Q150O.
Flour-Family extras 525d5.s5; bakers
extras, 5.O0M51O.
Wheat-Shipping wheat, 1.50 for No. 1
and 1.51A for choice; milling wheat, 1.5214@
1.57h.
Barley-Feed. 9Od921s; choice, 95G97h;
brewing. 1.00@1.15.
Oats-Poor to fair, 1.071a@1.171s; good to
choice. 1.20G1.30; fancy feed, 1851 40; gray
1.15Gt1.2O milling, 1.3O@1.35; surprise, 1.45@
1.5O; black, for feed, 1.1Oa1.20; black, for
seed. 1.20G1.3O.
Receipts-Flour, quarter sacks, 41S9
wheat, centrals. 12S527 oats, centals, 9O
beans, sacks, S14; rye, centals, $50; pota-
toes, sacks, 1915; do. Oregon, 1856; onions
sacks, 81; middlings, sacks, 260; hay, TONS
511; straw, tons, s. hops, bales, 21; WOOL
bales, 367; alfalfa seed, sacks, 21; hides,
number, 116O; quicksilver. TASKS, 81; wine.
gallons, $3.50.
The herald., 1897-09-26

decrease, 81, 72S 800; specie, increase, $50. 400
legal tenders, decrease, 1854, ZOO; deposits
decrease, $1O,6 500; circulation. increase,
$6O7, 200. The banks now hold SIS, 500 In
excess of the requirements of the 25 per
cent rule.
The New York Financier says this week:
The statement of the New York banks
showed, as had been anticipated, heavy
loss in cash and shrinkage of the reserve
to the lowest point recoded since Noyem-
ber 7th last. With gold imports begin
ming. the impression prevails that the banks
will be fully able to meet alldemands made
upon them. The advance in the money
market has evidently brought about some
liquidation 1t Is not noticeable. however,
that the operations of the banks account
for the total change in loans. So. also, its
deposits changes make up at least one
third of the entire decrease reported by
all the banks. The cash Withdrawn went
to the interior The statement does not
balance, but the plain Interpretation is that
the demand for money for crop purposes
is at its full height, and may be expected
to continue for some time to come. 1t will
not be surprising If the loan item exhib-
it's futher decreases, in view of the urgent
demand from the south and west. The
decrease in loans for the present week is
the first that has occurred since the OPEN
ing week In May, since which time the ex-
pansion has reached total of $4,000, 900.
Seven of the New York banks are below the
25 per cent reserve requirement. and large
number of the other institutions are only
slightly above it.
The future of the money market rests
largely, of course on the extent of the gold
imports. The treasury deficit will help the
banks to some extent, but against this is
the coming Union Pacific foreclosure sale,
which will take a large sum from the open
market. 1t is estimated that foreign trade
balances in our favor for the three months
ending September Goth will not be less than
s14O 900. 900, and this with cotton exports only
beginning. The resources which the coun-
try can command in case of a sudden hard
ening of the money market are enormous.
Even with the continued use of funds to
meet the immense expansion of trade at
interior points, the outlook remains cheer
full for legitimate business enterprises.
The herald., 1897-09-26
Too Well Educated

"Why don't you go to work?" asked
the housewife.
"It all comes O. bein' too we'll edu-
Gated" replied Meandering Mike.
"a proper education does not encour-
age a man to despise honest toll"
IT don't despise 1t. I've made up my
mind dozens O. times to go to work. But
widout fall jes' ez I'd got 1t all settled
dat I was goin' to ask somebody fur a
Job in week or two, I'd run acrost one
O. desc articles dat says de sun or one
O. de planets is goin' to let loose an
smash de cart into bunch of sizzlin'
debris, an den I'd halter jes lay down
an say. What's de use?' Washington
Star.
The herald., 1897-09-26

CHICAGO, Sept. 25.-Cattle-No business
was done to form basis for general COM
parison with other days this week. A few
cheap native cattle went to small local
butchers at prices lately quoted, cows SELL
ing chiefly at 2.5o@3.5O and few fine veal
calves at 5.00Q6.50. Packers bought many
useful heavy hogs around $3.50, but sales
ranged at 3.30Qf395. All hogs selling above
4.10 had claim to special quality. Fancy
bacon pigs sold late at 4.30, only a few
reaching AIS in the early market.
Sheep-Good, 107-pound western sheep
selling at $50 and choice 77-pound lambs at
$50. Most of the native and western NUT
tons went at 3.750D4.10. Best native lambs
sold around 5.75 best western up to $50
and bulk of good lambs at 4.60d5.50. Only
culs and poor light down to 4.00Q4.5O.
Receipts-Cattle. 600; hogs, 1900; sheep,
5000.
The herald., 1897-09-26
American woods are costing higher.-Brad-
Insurance

The Board of Fire Underwriters of the
Pacific has issued bulletin to the effect
that the Prussian National Insurance
company Western Assurance company,
British America Assurance company and
Niagara Fire Insurance company are now
members Of the Board of Fire Under
writer's of the Pacific. This leaves only
five companies out in the cold.
North British and Mercantile of New
York is the title of company which has
just been given license to commence busi-
ness. and is an offshoot Of the North Brit
ish and Mercantile of England, the head
office of which for the United States is at
54 William street. The officers of the new
company are: Henry 8. Bowers, president;
tary; Perry Dean, assistant secretary, and
w. r. Ecker, general agent.
Apropos over-insurance on lives, the In
surance World has taken high ground on
this subject before. There seems to be as
much danger of over-insur:ng men as of
over-insuring property, and the result is
the same. viz; moral hazard. In these days
when men can, as a rule, buy all the life
insurance they can pay for, even more II
they can get somebody to take their notes,
there is very great likelihood that fell
lows who have formed the intention of
committing suicide will seek insurance in
large amounts. We often find $1,000 man
with a $4,000 life insurance, the premium
having been largely rebated and perhaps
his note taken for the remainder. The old
story that a widow telegraphed her peo-
pie, Jacob died this morning; loss fully
covered by insurance" is no longer merely
preposterous joke. The loss often is more
than fully covered by insurance. The be-
ginning Of this difficulty Is in carrying in
surance in old age. except possibly in the
form of paidup estates. Elizur Wright
long ago pointed out that insurance in old
age is impossible and should not be ad-
mitted, both because the difficulty is so
great and also because the value of the
life is so small. Such considerations should
make companies unwilling to issue poll
cies except for single premiums at old ages,
and a like danger of over-insuring should
render companies unwilling to issue very
large insurances, whether in one company
or not, upon single life unless in the form
of single premium Observation-Disclosures
World.
The herald., 1897-09-26
California Fruit Sales

LONDON, Sept. 25.-The Earl Fruit COM
pany sold California fruit today:
Pears-Half boxes, Beurre Hardy, 2.02;
Du Comice 1.S4; Duchess 1.S4; Beaurre
Diel, 150; Beurre Bose, 1.50; Beurre Clair
geau, 1.2O; B. d'Anjou, 1.20; Onondago, 1.2O
Silver, single crates, 2.26.
Plums-Ickworth, 1856
NEW YORK, Sept. 25.-The Earl Fruit
company sold today:
Grapes.Tokay, single crates, 70 to 1.2O
average, 100; double crates, 1.S0 to 2.O5, av-
erage, 19S.
Peaches-Salway. 40G50.
Pears-Bartletts, 2.70 f'T
The herald., 1897-09-26
Lot 7, Grand avenue and Adams street

Lot 7, Grand avenue and Adams street
tract; $1,000.
Los Angeles Terminal Land company to
same-Lot 10, block Z, East San Pedro;
$3.50.
Azusa Land and Water company to j. E.
Plater-Land in Azusa$200.
E. Parsons to Earl Fruit company-Lot 4,
eplat of E. Parsons subdivision; $3.50.
H. L. Baker to M. e. Cleveland-Lot I,
block 49, Santa Monica $500.
San Gabriel Improvement company to F.
S. and A. r. Willard-Lot 4s, lands of San
Gabriel Improvement company, 5.25 acres;
$10OO
NJ j. Solender to Miss e. Mc1ntosh-Lot
II, block c. Gable Road tract; $780,
r. M. Furlong, administrator, to J. Ellis
Lot s, Allen & Halsey's subdivision; $1125
Los Angeles Terminal Land company to
r. Newmark-Lot 20, block T. East San
Pedro; $3.50.
c. w. Nicklin to o. H. Perry-Block 4,
Maclay addition; $500.
w. w. and 1. Curtis to c. c. Lesh-Part of
southeast quarter of northeast quarter Of
section 81, township north, range west;
$4,000.
SUMMARY
Deeds .......... ........."......... 81
Nominal ................... ............ Is
IOtal 1000, $40 oo
The herald., 1897-09-26
European Markets

NEW YORK, Sept. 25-The Evening
Posts London financial cablegram says:
The stock markets were quiet and feature
less today, pending the settlement Of next
week. There was firm undertone, how
ever. Americans after a fiat opening on
the New York lead, rallied considerably at
the close
The herald., 1897-09-26
Money Quotations

NEW YORK, Sept. 25.-Money on call,
nominally. 21a@3 per cent; prime mercantile
paper, 1905 per cent; sterling exchange,
steady with actual business in bankers
bills at 4S6A, less " for demand, and at
A. S2A, less 1872 for sixty days.
SAN FRANCISCO, Sept. 25.-Drafts-
sight. 1919; telegraphic, Is.
LONDON, Sept 25.-Consuls, I1k.
The herald., 1897-09-26
CHICAGO MARKETS
Yesterdays Transactions on the Board
of Trade

CHICAGO, Sept. 25.-There was consid-
erable diffeence of opinion at the opening
of the egular trading in wheat regarding
the proper direction for the market to take.
December, which closed yesterday at 921a
OOPS, ranged all the way from 92s to 021a
at the start, with the bulk of trades at
92A@92ss. After holding at around the lat
ter figures for few minutes, the market
began to yield gradually, and in the course
of little over half an hour it had got down
to 911s. The heaviness of local and north
west receipts was in the main responsible
for the decline. Liverpool quotations were
unchanged, but private advices said the
market was weak and reported heavy Of
ferings from Black sea ports. Antwerp re-
ported prices the same as the day before.
Paris noted decline of 10 centimes for
September wheat, and futures without
change. The days clearances of wheat
and flour from Atlantic ports were equal
to $4,000 bushels. New York reported
good export business in wheat on the
break, and called the quantity placed for
shipment fifty boatloads. or 100000 BUSH
els. Prices recovered somewhat on this,
December advancing to 91A@91B, but the
market weakened again later, gradually
declining to 81. Trading during the de-
cline was intensely dull, this in itself being
a weakening factor. The figures on export
business were disputed by well-informed
persons, who placed the new business at
only five boatloads. The weeks shipments
of wheat and flour from both coasts, as
given by Bradstreet's, were 1928, 493 BUSH
els, against G, ,2s9 949 the week before. Beer
bohm's estimated the weeks shipments
from all ports to Europe for the week at
100000 bushels. Eighty per cent of the
wheat around Fargo, N. D., was reported
to have been already marketed. During
the last half hour Of the session the market
improved somewhat, on covering by shorts.
December advanced to 91ss, where it closed.
Corn was excessively weak all day, with
heavy commission house selling. Elevator
people also let go of liberal lots. The east
ern corn markets still complain of glut.
and the cash demand in consequence was
slow. Cables were A@ssd lower. December
closed lower, at 1885.
Oats were weak in sympathy with other
markets, and also because of the liberal
realizing sales, presumably by the bull
clique. December closed ssGA lower, at
20.
Provisions were weak and lower, with
continuation of liquidation in October con-
tracts. The only support the market re-
ceived was a little buying by shorts. The
yellow fever news was the depressing Cir
cumstance. At the close December pork
and December lad were each lower, and
December ribs ~ lower.
The herald., 1897-09-26
Silver Bullion

NEW YORK, Sept. 25.-Bar silver, 56%;
Mexican dollars, 43ss.
SAN FRANCISCO, Sept. 25-Bar silver,
561s, Mexican dollars, 46@46a.
LONDON, Sept. 25.-Bar silver, 26asd.
The herald., 1897-09-26
Mining Stock Quotations
Following are yesterdays quotations on
2 Los Angeles stock exchanpa.

SaIes-Wedge, 2SUO at 4; 100 at 81 30;
1000 at 3; 1000 at 3as $500 at 31a; 1000 at 31z
b ID; 5000 at S5s; 260O at 81 100 at AS; 100 at
~. Magganetta, 1000 at 2h. Gold Bug
1900 at l. Mohawk Acton, 5000 at "; Il, 900
at 1as b SO Old Dominion, 1000. at 81.
At the meeting of the brokers last night
1t was determined to secure, if possible,
the cooperation of the railroads in the
advertising of the mining districts in
Lower California in such manner as is
done in Colorado and Utah, and resolu-
tions were passed to that effect.
The herald., 1897-09-26
Dried Fruit Prices

NEW YORK. Sept. 25.-California dried
fruits-Fim. Evaporated apples-Prime
wire tray, 6A@7; wood dried prime. 61a;
choice. ~; fancy, w. Prunes, 41a@S per
lb., as to size and quality Apricots-
Royal. 7QS1s; Moorpark, 9G11. Peaches
Unpeeled, 10; peeled, 12G16.
The herald., 1897-09-26
Treasury Statement

WASHINGTON, Sept. 25.-Todays state
ment of the condition Of the treasury
shows: Available cash balance, $S15, 142, ,747;
gold reserve, $14e, 1861, ,0S6.
The herald., 1897-09-26
1ncorporatiou

The. Alaska and Klondyke Gold Mining
company of Los Angeles incorporated to-
day with capital stock of 81, ,OO0 :c0. d.
vided into 100000 shares, there being $780,
600 subscribed. The directors are: M. L.
Wade, L. F.. Hickok, c. c. Durkee, c. IT.
Covell, A. G. Hinckley, all of Los Angeles.
The herald., 1897-09-26
Boston Quotations

BOSTON, Sept. 25.-Atchison. 15K; Bell
Telephone, 267 Burlington. SO; Mexican
Central, 61k; Oregon Short Line, 20; San
Diego "A,
The herald., 1897-09-26
Bond List -.

NEW YORK, Sept. 25.-The following
we're the closing quotations on bonds to-
day:
U As reg. .125h N j Cen 5s....... .n3A
:, Ar oo,p 10S1LNY rolipo &c
The herald., 1897-09-26

A few dollars in Pacific Consolidated are
dollars well invested. 8. H. Ellis. 2ls stim-
son building.
The herald., 1897-09-26
Mining Stocks

SAN FRANCISCO. Sept. 25.-The Of
fetal closing quotations for mining stocks
today were as follows
The herald., 1897-09-26
Wool

The market continues active, with prices
hardening. Bostons sales for five weeks
exceed 100000 pounds; large part of
vt has been to manufacturers. There is
still some speculative business among
dealers, and the feeling Is that the market
will advance close to the importing point
without reaction. The larger part of busi-
ness doing is in territory grades on the
secured basis of 456I46c for fine medium and
fine. but dealers are mostly asking 1G2c
more. Fleece woods are held firm and
quoted about 1c higher on washed and un-
washed lines. Sales of f1eeces are slow. as
holders are making no attempt to show
them. For XXX and above Ohio the market
Il quotable at 26M27c with delaine at 2Sc.
Medium washed Ohio fleeces have sold at
eSc, and this price is now refused AUS
tralian woods are firm and higher on the
secured basis Of 5sG83c for fine combings
and bo@e6c for clothing. Cape and South
The herald., 1897-09-26
PetrO1el1m
Real Estate Transfers

NEW YORK, Sept. 25-Petroleum quiet
United closed 72h bid.
The herald., 1897-09-26

All prices Of wan paper greatly reduced.
A. A. Eckstrom. "a Eouth Spring street.
The herald., 1897-09-26
Money in Bank

NEW YORK, Sept 25.-The weekly bank
statement shows the following changes:
Surplus reserve. decease. $s.ss7.675; loans,
The herald., 1897-09-26

IOtdlS 81, <Vo, ,l'1Voo @A,voo'ooo'VpV
The increase in the value of crops this
year Is approximately $l1S,OOO,O0O.
y \ =
The Cleveland Rolling Mill company an
nounces an important Industrial event in
the receipt of an order for 1000 tons of bar
ham, England. The order stated that the
steel should be in such shape as to permit
of its being drawn into wire. Birmingham
has always been supposed to be the great
est place in the world for the manufacture
Of steel. ts.
The toltal length of the worlds telegraph
system has now reached 4,90S921 miles, ex-
elusive of $780, 440 miles of submarine cables.
OF this Europe has 1.764.7 $50 miles.
Asia 3l0,6S5 miles, Africa 90,4O9
miles, Australia 217479 miles and
America 2.516,54S miles. These figures show
that America leads the world and has al
most double the European mileage.
The British board of trade returns for the
month Of August show the imports to have
been fS3 1856. an increase of fS9O,912 over
August 1895. The exports of August, 1897,
were Els 773, 907, decrease of 91. .552, 799 over
August. 1895. For the eight months end
ing August S1st, the imports were f294 755.-
17D, an increase of Eli, ,43S, ,51S over the same
period of 1896. The exports for the eight
months Of 1897, ending August 3ist, were
&157 ,685, 9O1, decrease of E3,195. TIA. when
compared with the same period of 1896.
The herald., 1897-09-26
Chicago Live Stock

dairies. 1a@1s Cheese. easy. 500. Eggs.
| firm, fresh. IA.