The herald., 1897-11-23
OFFICE OF THE HERALD,

~. OFFICE OF THE HERALD,
Los Angeles, Nov. %, 1897.
Dominguez school district per cent
bonds to the amount Of $1,000 are offered
for sale by the supervisors on December
eth.
Proceedings have been instituted in
the federal court at Topeka, Kansas, for
the Scottish American Investment COM
pany, of London, against the Kansas In
vcstn,cnt company. and n. H. Sweet for
91c5. 900. The suit IL the outgrowth Of in
vestu1ents nggrcgating $350,000 made by
tho London company through the Kan
sas Loan and Trust company in the sos
The petition borders on the sensational
for the Scottish Investment company
claims it was "dcfrauded and deceived"
In the Investments made for it by the
Kansas Loan and Trust company
The sole object of bill for the estab-
lishment Of a postal savings bank sys-
TEN should be to provide an absolutely
, safe depository for the savings of per-
{ sons of small means. There are many
things which the government ought to be
things which the government ought
to do, and there are many wants
of the people which ought to be
supplied. But the attempt ought not to
be made to supply other wants in the
measure creating postal savings bank
system.
The people in many parts Of the coun
try need better credit facilities. Any
thing, which the government properly
can do to enable its citizens to secure
loans at lower rates it should do. But
when it comes to determining what is
proper in this line great difference of
opinion Is manifested. On the question
OF providing safe repositories for small
savings. however. opinion is very gen
orally agreed. Congress. in nll proba-
bility, can be induced to pass at an early
date asbll providing simply for safe de-
positories and making such an agree
ment for investment of funds as is nec-
purpose. 1t Is very doubtful. however.
iif congress would pass postal savings
bank bill. coupled with which was a
3 proposition for enabling citizens in need
of money to secure loans from the gov
crnment.
& All believers in postal banks should
unite in favoring the only kind of bill
that congress may be expected to opass--
namely, one the sole object Of which Is
to provide h safe place Of deposit for per-
sons OF small means. The main pur-
pose of the provision in relation to in
veStmcnts should be to safeguard the
funds and return to the postofiice de-
partment a rate of interest that will
enable 1t In turn to make small interest
payment to depositors. Whatever the
government might see fit to do. il any
thing, to enable farmers and others to
secure loans ut cheaper rates is a sep
arate problem. attended with special diff
ncuties, to be worked out by itself, and
in no way mixed up with the present
movement to provide safe places of de-
position those who desire to sdVe.-Chi-
cago Record. .ss.- ..- rs
+ + +
Regarding the embarrassment of the
finances Of Spain, the London Statist
says The financial embarrassments of
Spain are naturally weighing heavily
upon the Paris bourse. 1t is commonly
estimated that French investors hold to-
gethcr about 6 160, 900 worth of Span
ish securities. IT, therefore, there were
to be an utter breakdown in Spain, the
losses to France would be very heavy.
1t is to be recollected that France has
suffered much during the past two years |
$ from the collapse of the African BOOM |
from the crash in the east at the time of
the Armenian massacres, from the fall
In Spanish that has been going on so
long, and II there were to be another
breakdown the losses would be enor-
NOUS. The condition of Spain explains |
much of tho extreme quietness at pres
ent In the European stock markets, and |
especially Of the stagnation in Paris and |
the unwillingness to enter into new en- |
terprise."
The "anti- Coates monopoly" cotton |
combine, which was started in London |
to compete with the great thread firm,
! has received SO many applications for
stock that II has been decided to increase
its capital from $4,000, 900 to $4,000, 900
The Coates company is capitalized ut
$SI,500,C0O.
= \ \,
a. Owing to the continued itlleness Of the
window glass factories and consequent |
depleted stocks another advance of 10 |
per cent has been effected. Further ad-
vapces are expected In the near future.
These factories ares compelled to re-
main closed because Of the seeming ina
bility of the glassworkers to come to
some understanding over the wage
schedule. Unless an agreement is
shortly arrived at, the American jobbers
believe that window glass will have to
be imported in order to meet demands,
1t is understood, however, that the four
trades interested in glass work will hold
meeting soon, when steps will be taken
to sign the wage scale and renew work
independent of Simon Durrs and the
Windov Glass Workers association.
\ + 4
The report to the court OF claims of the
referee in the case OF the Western Union
Z photograph company against the United
u States. in which it was held that s25S, ,S69