The herald., 1898-02-11
OFFICE OF THE HERALD
Los Angeles, Feb. 10, 1885,
'No one is satisfied with his fortune, nor
dissatisfied with his own witt

Los Angeles, Feb. 10. 1898.
mo one is satisfied with his fortune. nor
dissatisfied with his own witt
That wine is manufactured in New York
City in competition with the product of the
wine districts of the country and with i'm
ported goods is a fact not generally known.
The American Wine Press says on this
subject as follows:
Many of our readers will be surprised to
learn that great many tons of grapes
were shipped to New York City this fall
TO be made into wine both on large and
small scale. A prominent dealer says
that from fifty to one hundred tons of
grapes have been turned into wine this
season by what he calls "wine manufac-
turers'' and by private parties. Speaking
of this trade to a representative Of the
American Wine Press, this dealer ex-
planned some of the mysteries and secrets
of wine making in cities. 'This fall" said
he, 'in Western New York, hundreds of
tons of grapes were damaged by the frost,
and the growers were glad to sell them at
any price. The average price paid was
from $8 to $40 per ton, or from two-ffths
to one-half a cent per pound.
''There are two classes of people in New
York." continued the dealer, "who use
cheap grades to make cheap Wines First
there are manufacturers who can produce
something like wine out of any old thing.
All that they need is a little grape juice to
give some flavor, and the rest Is water,
glucose, dried apples, logwood, and flavor
ing extract, etc. Such stuff these manu-
facturers produce and call wine. 1t is
time that something was done to stop the
sale of manufactured wine, which is mar
keted under various names and different
labels. There are quite number of firms
in New York City engaged in this kind of
trade. And these same people have done
much to hurt legitimate business. In the
second class. we have individuals who make
wine for consumption in their families.
Most of them are foreigners-Germans,
Italians, and Frenchmen- all of whom
have been used to drinking wine as freely
as water. If you go In the Italian quarter
In this city you will find a number of Ital-
ians who do their own pressing. Some of
them use small cider presses, and others,
who cannot afford a press, place the
grapes in barrel and press down by
boards or by weights. A hole is made in
the bottom of the barrel and the juice
strained off and put into another barrel,
where it goes through fermentation. Those
who do not understand handling dry wine
make sweet wine by adding sugar and
some spirits. In this way our wine-loving
citizens procure wine at cost not to ex-
ceed IL cents per gallon.
with cheap California wine, pure and
well made" said the dealer in conclusion,
there seems to be no need of manufactur-
ing fake wine. The best was is to buy
your wine of some reliable producer, whose
name is a guarantee of his goods"
o O o
Street railway interests of Illinois, which
met here as state association, have pre-
pared a bill for submission for the legisla-
ture designed to make the life of every
street railway franchise in the state
ninety-nine years, says the New York
Evening Post The bill was prepared by
c. l.. Bonney of the Chicago General Elec-
trio Railway company, who takes the
ground that the street-railway companies
being incorporated under the constitution
and statutes of the state, the legislature
can extend the franchises. AS the federal
constitution recognizes only states and
counties, a municipality he claims has
nothing to do with the granting or extend
ing of the franchise, the municipality hav-
ing only the power of enforcing the police
regulations as to the running of cars
through the streets. Mr.. Bonney also
urges that coming litigation be so framed
that an appeal from the state supreme
court to the supreme court of the United
States will be inevitable. 1t Is reported that
Immediately upon the conclusion of the
~ H.
Governor Tanner will be asked to call an
other to take up street railway affairs.
o O o
The recent Improvement in the bond
market is thus treated of in the last issue
of Bradstreet's to hand, which says:
Last week the par values of all the bonds
traded in at the New York stock exchange
reached a total of $40, ,397 900. In the pre-
ceding week the aggregate dealings in
bonds were even larger, amounting to
$23 17S, 500, while in the first week of the
new year the total was somewhat smaller.
being, however, fully $10,OO0,000. During
the present week the activity in bonds has
continued to be on the same exceptionally
large scale, amounting up to Friday night
to $27 ,547 900. The total for the month of
January, 1898, Is, therefore, approximately
$s1 ,122, 900, making 1t one of the heaviest
months in the history of the exchange.
These figures are significant as to the
degree of interest now being paid to this
class of securities, and also suggest that
speculation has to a considerable extent
extended into the bond list This is in n
measure a fact, particularly as regards
the upward movement of prices in certain
classes of securities which up to a very
recent time have sold on low basis and
have been practically disregarded by the
market On the other hand, some of the
most active, and, at the same time, most
buoyant, bond issues are those of roads
which have been or are about to be, sub
jected to reorganization, and in which the
favorable prospects for business and rail-
road earnings during the current year af-
ford basis of renewed confidence. This
Is particularly true in connection with the
various classes of mortgages upon the
Northern Pacific. Union Pacific, Oregon
Short Line, Oregon Improvement, Oregon
Railway & Navigation, Union Pacific, Dem
ver d Gulf and Wisconsin Central proper
ties. Several of these roads, 1t is expected,
will be largely benefited by the large
business looked for in connection with the
development of the Alaskan gold fields.
The street" has, in fact, given to them the
distinctive title of "Klondike" securities.
The activity and strength of the bond
market has not been confined to the So
called Klondike group. On the contrary.
the advancing tendencies have extended to
a large number of other issues. The south
western roads and their securities have
been notably affected by the current ten
dency of the market. Texas Pacific COO
ond incomes have been one of tba ,,,os+