The herald., 1897-05-28
OFFICE OF rHD HERALD.
Los Angeles, May n, 1897.

auO springs, oeVotes cOnslucEuplo ePnSo Al
its issue of the 22d inst. to discussion
of the situation at Cripple Greek mining
district and the stock market In connection
Herewith. It says that two things have
happened, "Prlces Of mining stocks have
declined enormously and the output OF the
Cripple Creek district has increased won
derfully. BY referring to the estimates and
computations Of the conservative we find
that about eighteen months ago the value
Of Cripple Creeks production was. in
round figures, about $75oooo per month.
Quite recently 1t has been shown that the
monthly output is something better than
81. 100000 per month. On the other hand we
flnd that the principal stocks. including
those which represent the producing mines
responsible for the increased output, have
declined from q total value of about $1S,-
100 900 to s5,7Oo,000. representing a loss of
nearly 70 per cent.
us the camp all right?It would seem 80.
In 1891 the production was about $4,000
Without all signs fail the production of
1897 will be we'll over $4,000, 900, and in the
interim the increase has been steady. Con-
sidered in this light, then, Cripple Greek
is satisfactory. 1t is doubtful, indeed, II
any other camp ever made such a rec
ord, although other districts have had far
greater support in the way of financial in
vestment for the development of pros
poets. Cripple Creek is an ideal poor mans
camp for values in the ore are frequently
found actually at the surface and on this
account the prospector of limited-some-
times very limited-means is enabled to
open UP mine because his expenses are
met by the ore taken out from the first
foot of work.
"The greatest depth at which any mineral
vein has been developed is slightly over
1000 feet. and at that point the values
were as good as they were closer to the
surface In other shafts of the camp,
which have reached considerable depth
and which have developed ore bodies,
values have proved good and equal to any
thing above, so that on the score of values
with depth the Cripple Creek district Is
certainly all right. and 1t does not seem
likely that investment in mines or stocks
Is prevented from any actual fear Of the
values of the ore bodies declining with
DEPTH"
The Mining Investor also quotes with ap-
proval from the market lists Of a local
firm. which says:
investors desiring large profits with a
minimum risk should purchase Cripple
Creek gold stocks at the present low
prices. 1t is generally acknowledged BY
all who are In a position to form a cor
rect opinion of the situation that It is
only from the lack Of knowledge on the
part Of eastern and foreign investors of
the good conditions of the mines and the
steady Improvement which is being made
IN the output which is preventing them
from taking advantage of the opportunity
which now presents itself Of buying
stocks below their value"
The supreme court in late decision
says: ITO support the deed of corporation
which is without a corporate SEAL 1t is in
cumbent upon the party relying upon It
to show afiirmatively that 1t wss executed
by authority of a resolution Of the board
OF directors, entered on the records of the
corporation. or that 1t was ratified by such
resolution"
The fire commissioners have submitted
to the council the plan first proposed by
ex-Commissioner Vetter for the issuance
of. say. $150.000 per cent bonds for the
purchase of sites and the construction of
thirteen new buildings, with the necessary
apparatus. The city, 1t Is urged, is now
paying $1,000 a year in rent for engine
houses. which Is equal to per cent on
$500 900. and 1t would be desirable thing
for the city to own all Its engine houses.
1t appears to be little doubtful whether
the city could acquire the necessary lots
and set up the buildings~for a total expen-
diture within the amount indicated. Some
Of the ground required would be expen-
sive and a very careful estimate should be
made in detailed shape, showing the pos
sibility Of accomplishing the desired end
without going beyond the amount asked to
be appropriated.
Landlords should take note Of decision
Of the supreme court. filed the 21st inst, in
the case of Mcdowell respondent, VS..
Hyman, in which the rights of tenants
in the matter Of repairs are set forth. The
court says:
a landlord, which II not expressed Is i'm
piled, is that the tenant shall have the
quiet enjoyment and possession of the
premises during the continuance Of the
term. The covenant, whether expressed
or implied. means that the tenant shall
not be evicted or disturbed by the lessor
or by persons deriving title from him, or
by virtue Of q title paramount to his, and
implies no warranty against the acts of
strangers. 1t Is equivalent to a stipula-
tion that the lessee shall not be right
fully disturbed in his possession during
the term, not that he shall not be disturbed
at all. See Taylor on Landlord and Tenant,
vol. ], sec. 305. Also civil code, sec. 1927.
"Flats are as much separate dwellings
as ordinary adjoining houses are. The diff
ference Is that flats are under one roof and
are divided from one another by a horizon
tai plane, but ordinary adjoining houses
by a perpendicular or vertical plane. See
also Taylor on L. and T., sec. 66.
1.-THE landlords, as owners Of the second
floor, had right to repair, alter and i'm
prove that portion Of their premises, but
in so doing they were bound by their I'M
piled agreement so to conduct their oper-
ations as not to dispossess or render un-
inhabitable the portion of the building
they had devised to others; and II they
failed in that duty they were liable to
their tenant, irrespective Of the question
of negligence. As against third parties
they could take down the outer or inner
wallis of the building at will, subject only
to such negligence and consequent injury
as might render them liable to parties in
jured thereby, but as against their tenant
they could not do the same thing, even in
the most careful manner, II the result de,
stroyed the quiet enjoyment Of such ten
ant"
Bell Telephone stock is thus referred to
by the Financial Record: I'VE should
realize in American Bell Telephone stock.
Its present quotation, 1885, discounts a good
many years good things to come from it.
The company 10 well intrenched, but we
hardly think it will maintain it's present
monopoly. We do not think that the Bell
Telephone will be able to keep companies