The herald., 1898-03-30
OFFICE OF THE HERALD,
Los Angeles, March 20, 1898.
'For It II certain to the vulgar eye, few
things arc wonderful that are not distant"

by the attitude it has assumed with regard
to existing policies on the lives of those
who may have to so into active service In
case OF O declaration of war between this
country and Spain, and also as to policies
which may hereafter be issued before the
actual opening of hostilities. President
John A. Mccall was quoted at length In
these columns few days ago in an inter-
view had with him on his passage through
here. and the statements he then made
are confirmed in the company's
authorized announcement to be found
on another page. An institution
that controls assets that are valued
vt over two hundred million dollars is a
mark for widespread public interest, and
the manner In which its enormous re-
sources are invested from time to time Is a
subject for something more than idle Gu
riosity. The Wall STREET Daily News says.
In reference to this matter: 1--WE have
taken some care to verify the valuations
Of stocks and bonds set forth In the last
annual statement of President Mccall
of the New York Life Insurance company.
This company makes such frank report
of its transactions through the public
press, and in book form to its policy hold
ers, that we are not at all surprised at the
conservative figures it adopts in the valua-
ton of assets. Those relating to stocks
and bonds will be particularly interesting,
have been added to assets and surplus II
the stock exchange quotations of Decem-
Der 81 last were used in the company's re-
port. 1t Is not to be wondered at In the
light of this showing that the New York
Life, under the management OF President
Mccall. Is so firmly entrcnchcd IN the favor
of the banking and business community of
his own home"
Francisco, 2Sth inst, Hawaiian CONNER
cial sold at 23ss to "a, Hutchinson Planta-
ton at 4S14 to As, Oceanic Steamship at "a
to 55A. Market-street Railway at 90, San
Francisco Gas and Electric at 49, Vigorit
Powder at "a to 3, Edison Light 6s at
1851 and Spring Valley Water 6's at 115%.
The investment board reported sales Of
Hutchinson Plantation at 4211a.
Thomas A. Edison writes: IT wish to
protest against many articles appearing In
the sensational newspapers from time to
time purporting to be interviews with me
about wonderful inventions and discov-
cries made or to be made by myself.
Scarcely single one Is authentic, and the
statements purporting to be made by me
are the inventions Of the reporter. The
public are led from these articles to draw
conclusions just the opposite of fact.
have never made it practice to work on
any line not purely practical and useful.
o O o
An effort Is reported as being made by
eastern capitalists, says Bradstreet's, to
obtain control of the output of all distilled
products in the United States.
"The British tin-plate trade remains in
depressed condition, merchants and manu-
o.. v~-t 1t--~
the small business at present coming for
ward" says a London trade paper. prices
are as low as they can possibly well be In
view of the cost of raw material, and the
current rate of wages, and SO far as pres
ent indications go there are no signs of an
early revival. 1t is clear that some rear
rangement of the wages question will
quickly have to be made between masters
and men, otherwise we may expect to hear
of the further closing down of tin-plate
mills, with the consequent throwing out of
work of many hundreds of tin-platers.''
O o o
Judging from cable advices received in
New York city in the middle of this week
by merchants doing business with the
island of Hayti, says Bradstreet's, the
commercial interests of the island must be
in a precarious condition. Gold has risen
at Port au Prince from $50 to 200, which was
the figure quoted by cables of the 10Th
inst. Merchants in New York city who
are conversant with the affairs of the
island are Of the belief that the high pre-
MUM portends a crisis in the financial
conditions. This is said to be due in the
main to the low prices Of coffee, logwood
and other Haytian products. Although
there have been reports Of political
troubles, 1t is claimed that they do not bear
to any great extent on the matter spoken
of.
The New York state railroad commits
sioners, at their meeting in New York city
on the 10th inst granted the application Of
the Erie Railroad company for permission
to increase its capital stock to an amount
sufficient to acquire control OF the New
York, Susquehanna and Western railroad.
The capital stock Is to be raised from $146,-
10000 to s172.OO0.0OO.
Among those who remember, says the
Mining and Scientific Press. is noticeable
the similarity between the attractive
stories of gold discovery in the Klondike
in '9S and California in 40; the same dry
river beds holding large nuggets; the same
mysterious valley where hatfuls of gold
could be secured; the same astounding
good fortune of the inexperienced man who
made a fortune In week. The old hoary
lies lure in '98 as they did in '4S; the differ
ence is that California was so rich in gold
that it was difficult to concoct fable that
was not made fact by subsequent events,
and that its soil and climate compensated
for any disappointment in gold seeking
Another similarity is that, as in the early
rush to California, all kinds Of crazy craft
are being started, and all sorts of inferior
supplies proffered Klondi<e pilgrims The
greed of commercial self1shness is manifest
In rotton hulks, over-crowded vessels
putrid food, incompetent crews. All this
was dreadful part Of the story of 40. It
Is already a record of the rush Of '9S. There
are reputable men in the business of carry
Ing passengers to the north, and there are
honest purveyors of supplies. Several
nne vessels have left San Francisco for
Alaska, and several more are building. But
parasitic on this whole business is lot of
constituencies creatures who are taking
advantage OF the prevalent Stiffness
among those unfortunates afflicted with
the gold craze who promise more than they
intend to perfom, and increase the perils
of dangerous trip by taking money for
risky transportation and unwholesome pro-
visions
Interpretations
Oakland Steam Soda Works. Oakland.
900; subscribed, $3.50.
Mutual Investment and Trading conn
pany. San Francisco; $4,000; subscribed.
III 500.
Pacific Development company. fan
Francisco; 100000; subscribed, $25
Russell Cream company, San Francisco.
300 900: subscribed, $685. $780,
The Smyth Machine company, Pasade-