The herald., 1897-07-09
OFFICE OF THE HERALD,

The idea seems to have become prevalent
that banks are not only soulless corpora
tions, but that they are organized especial
ly for the public convenience. and should
work for glory alone; and from the man.
ner in which they seem to be discrim-
mated against in legislation. methods OF
taxation, and even judicial decisions, 1t ap-
pears that this spirit of prejudice and dis
like has pervaded the high as well as the
low places. The fact seems to have been
forgotten that even small percentage of
the business OF the world could not be done
without them, and that, becoming public
conservators of commercial virtues, they
exercise powerful influence on the morals
of society," AS deposits under
proper conditions are the source OF greatest
profit to the bank, 1t is mot surprising'that
they are eagerly sought; but when they
are obtained so dearly that they become a
source of danger and loss, 1T is time for
bankers as sensible men, to stop, consider
and amend their ways. Depositors that
have to be bought and then hired to stay
are not worth having. :. The
banker should make it point to see that
every account on his books yields rea-
sonable profit. One reason why this Is not
done is because he fails to count the cost.
He has very little confidence in the mer-
chant who fails to keep up with all the
details of his business and watch every
item of cost but he is doing far worse
when, in his efforts to make display, he
heaps up an enormous amount OF deposits,
often a source of weakness rather than
strength, needless of the price at which
they are obtained. The banker, who is
presumed to be paragon Of wisdom and
prudence in business matters, an example
for others to follow. is guilty of almost
criminal negligence. At last bankers seem
to be waking up to sense of their folly,
and, In some places, are cooperating In
an effort to remedy the evil. AS the prac-
tce results mainly from greedy competi-
tion, it requires no gret mental acuteness
to understand that as long as the cause
exists the evil will exist, thrive and grow
believe in protecting de-
positors, but believe in protecting the
bank also. AS it is a protection to de-
positors, I regard as wise law that
statute which makes it a highly penal
offense for bank to accept deposits when
tnsolvent-even considering failure with
IN thirty days after the receipt OF prlma
facie evidence that the bank was insolvent
at the time, and that the banker knew it
Equally do I approve as wise law that
statute which, as a protection to the bank
prohibits accepting deposits from persons
known to be insolvent or otherwise dan
gerous to the institution. I sometimes
think that depositors, as compared with
borrowers, are too highly esteemed and
allowed too many privileges. While it is
true that there can be no successful bank
ing without depositors. it is equally true
that borrowers are necessary also.
+ + +
Nineteen mortgages were recorded yes
terday, aggregating $21,9S5. The highest
amount loaned was 5000.
+ =
During the month Of June the superin-
tendent of Buildings issued 179 permits
amounting to s2S6,079 viz: 122 new build
ings, $3.50, ,754 46 alterations and repairs
s2S 40; II removals, sl915.
+ 4 y
That San Diego has been building more
rapidly the past year or two than it has
for years before, is shown by the follow
ing, giving the number Of building per-
nits issued and the cost of buildings
erected: $780, $272 S16; 1891 $264 275; 1892 $10S-
ats; 1888 s149 SO; 1894 $780, 3S9; 1885, $685. $3.50;
1896, s5O6,745 1897 (to date). $1S1,145.
The buildings erecred during the last
two years include many of the hand
soonest business blocks in the city.
The Comptroller of the Currency has de-
clared dividends in favor of the creditors of
the insolvent national banks as follows
Ten per cent Northwestern National Bank
of Great Falls. Mont; 10 per cent, Citizens
National Bank of Spokane, Wash; 7s4 per
cent, the Merchants National Bank of
Tacoma, Wash; Is per cent, the National
Bank of Pendleton, Ore.
+ + y
There are pletny of people in Mexico,
and as they will work for less and live on
less than any American ever born Mexico
is not good place for poor man without
trade or profession. 1t may be safely
stated as a general rule that if a man has
money enough to come to Mexico he has
money enough to look the ground over
and decide for himself what business or
location offers the best opening.
State Mineralogist Cooper has issued a
bulletin showing the mineral productions
of California for 1896 by counties and COM
pairing them with the productions of 1895,
The table shows Nevada county to be
away in the lead, with a mineral prodllc-
tion for the year 1896 of 1882, ,160 In 1Se;
the mineral production of Nevada county
was $1,795, &c. showing a gain of $780,
1926 The next greatest producer OF
precious metals is Placer county, with an
output value at 81, 735, 5O.55, an increase over
the preceding year of over 100000. Amador
county is third in the scale, with an out
put of 81, 021, an increase of $3.50, 900
Fourth in the scale is Calaveras, with an
output valued at S1,555SSS.S5. This is a
falling off from 1895 of nearly 5000, 000
Trinity. county shows an output of ST. 1885,
$685. $3.50, 900 increase over the preceding
year. The total mineral production of the
State for 1896 is stated to be $24, ,291, 29S, an
increase of $1,446,7S4 over 1895.
+ \
Gold mining in California is treated by
the News Letter of San Francisco thusly:
The mining industry in this state keeps
picking up quietly all the time, with active
development work progressing in every
direction. The promoter has made a rank
1allure OF nearly everything which he has
backed SO far. A few London jobbers have
put few pounds here and there to hold
an option upon property until circum-
stances favored working the dragnet pro-
cess all over Great Britain. The fall NAV
see them successful, and it may not. for
the reason that offices of this description
in London are looked upon with more or