davidaulloa/AmericanStories huggingface dataset:
The herald., 1898-08-12
Hair Splitting Technicalities

Upon the grievance so often insisted on
that the fine technicalities of the law are
often used to defeat the ambitions of real
estate investors, the San Francisco Real
Estate Circular wakes eloquent and Its
statement of facts can be so closely par
alelled by local experience that It is worth
while to reproduce the argument, which Is
as follows:
Just before the Beideman sale Of 1867
which put titles west of Larkin on a par
with those east of that thoroughfare-a
hair-spltting lawyer prevented one or his
clients from buying some properties west
of Larkin. The purchase would have made
the client very rich. But the lawyer told
him that, despite the act of congress and
the Van Ness ordinance. there were no
titles out there, and that squatting and law
suits would be perpetual In the western
Addition Hundreds of cases can be point
ed to in this city of hair splitters-they are
never lawyers in the highest sense OF the
terms-breaking up sales for the most abb
surd and frivolous reasons. But for such
lawyers there never would have been any
need for the establishment of title insurance
companies. The business of passing titles
has within few years so largely gone to
these companies that the technicalists have
since had to live on very thin pecuniary
pickings.
Several times In the history of real estate
here business has been brought almost to
a stop, from exasperatingly absurd OBJ
jections to title. 1t used to be said OF
some lawyers here that they passed or re-
jected titles according to the state of their
The herald., 1898-08-12
Insurance Rate War

The fire insurance war situation in New
York is reflected in the following extract
from the Evening Post of that city. and is
noteworthy as showing condition of af-
fairs that is likely to spread very quickly.
Local fire insurance rates are still de-
moralized, and although the companies are
taking greater care in selecting their risks.
It is probably true that Indemnity was
never cheaper In this city than 1t is today.
When ten-story Broadway buildings, filled
with merchandise, are insured at ten cents
for three years, and coal and wood yards.
which formerly brought $40. are taken for
seventy-f1ve cents, there Is little chance of
profit for the companies. An experienced
underwater in commenting upon the pres
emit situation. said: My policies are still
worth little money, and do not purpose
giving them away at present. For tina
reason we are keeping out of the present
tight, preferring to let business go than
write 1t at such rates as now prevail. NV
company has lost some of its Broadway
business, because It considered ten-cent
rate (for three years. too low to cover the
hazard involved. Some Of the big comma
MES are still In the thick of the fight, and
until their principals are heard from or
disastrous fires occur, the struggle may
The herald., 1898-08-12
Conditions as Shown by Transactions
on Wall Street

NEW YORK, Aug. 11-Today's business
on the stock exchange was the largest for
many months. Trading was very broad
and comprehensive, and the tone of specu-
lation extremely varied. The general under
tone continued unusually strong. The de-
cline in prices was not allowed to proceed
to any great length before dizziness ensued
and in short time a renewed demand
would carry prices upward again, generally
on much smaller volume of business than
on which they had declined. Business was
so large and so widely distributed that the
movements of special stocks had little in
fluence on the general list and the market
at times showed excessive regularity. Even
while large realizing was going on at one
at another, and keep the balance about
even. Considering the large total of the
days transactions, net changes are small.
Orders placed with commission houses to
buy stocks were large this morning and
more generally distributed than at any
time since the rise set in. This outside de-
stocks, which oblterated the opening gam
before the first hour: A large part of the
outside orders. especially In the Changers,
were attributed to western account The
favorable character of the government crop
report, Realizing was. on greater scale
in Burlington and Rock Island than n the
other Grangers, possibly due to the com
corn crop. The advance in Atchison pre-
ferred brought out such flood of offeHngs
that the demand seemed to be abandoned
largely and turned to other low priced
stocks. number of preferrsd railroad
stocks which have not yet come 70 the full
dividends to which they are entitled and
some of the Junior stocks on which sur
plus over preferred stock has been earned
but not disbursed, were especially promi-
nent. Northern Pacific common was the
leader in the late speculation at an advance
at one time ~. The Industrial specialties
were irregular. Sugar was at one time above
14O. while Manhattan fell as low as 105, and
was depressed all day.
There were heavy offerings of bonds at
times, especially of recently re0rganizd
roads. considerable part of the selling be-
ing attributed to foreign account. Total
sales, $4320.OOO.
u, and the threes. when issued, advanced
4 In the bid price.
The herald., 1898-08-12
PERMANENT INVESTORS ARE
THE LARGEST HOLDERS
WOOD PULP MANUFACTURERS
The Damaging Eastern Insurance
Rate War-Lawyers' Technicali-
ties on Titles
OFFICE OF THE HERALD,

Considerable transactions are daily being
made in the new per cent war bonds.
says Bradstreet's, and the price has this
week touched a premium Of SIS per cent.
The large demand for the bonds is general
ly attributed to banks and other corpora
lions which counted upon obtaining rea-
sonably large allotments and were disap-
pointed by the fact that the volume of
small subscriptions exceeded all anticipa-
ton. According to the latest announce
ment by the treasury department, the
largest ailotments will be to subscribers
for less than $4,000 each. 1t would indeed
seem, Judging from the considerable offer
ings of bonds and allotments in the mar
ket,. that Q very considerable proportion
of the subscriptions were really made with
view to realizing the premium which 1t
was generally supposed the new bonds
would command. and which, in fact, has
been somewhat greater than many expert
financial authorities looked for. There Is
no doubt. however, that very large pro-
portion of the bonds have been taken by
permanent investors, and not the least re-
markable feature of the whole transaction
is the fact that the resulting disturbance
of savings bank deposits has been so slight.
1t is also worthy of attention, that while
the plan of a popular subscription and the
successful absorption of the entire $780,
100000 issue In small amounts has involved
a presumptive loss to the government as
compared with what might have been
realized for the bonds had they been sold
to the highest bidder, there Is very tangi-
q BILE advantage to the financial department
of the government in the fact the method
adopted completely hushed the adverse
criticism which has invariably beer
aroused whenever the treasury has had
any dealings with syndicates or represent
atives Of the so-called money power.
The herald., 1898-08-12

continue indefinitely. OF course, the pres
ent fire record favors the underwriters,
and unless something unforeseen happens
"a $1,000,000 fire, for instance), conditions
may not improve for some time
Several companies have already retired
from the metropolitan district of this city.
owing TO the unsatisfactory condition of
the business, and rumors of another with
drawal are current today. One or two con
sentative out-of-town concerns refuse all
but special business, for which fair rates
can be obtained. Storage rates have
strengthened somewhat but prominent
underwriters do not expect much improve
ment In business until more of the under
writing capital Is withdrawn from the
field. A rate agreement Is still talked of,
but definite action has not been taken by
those In charge of the principal compa-
Mas -
The herald., 1898-08-12
Wood Pulp Manufacture

At the late annual meeting of the Amer
lean paper and pulp association statistics
showing the phenomenal growth of the
pulp manufacturing business in the
past quarter of a century were pre-
sented. The first large pulp mill
In the country was erected in this vi
entity, says the Philadelphia Record, lit
tie over thirty years ago; now there are
about 1900 in the United States. turning
out more than million and a half tons
of pulp and consuming two million cords
of wood per annum. Prior to the time of
the meeting referred to Professor Fernon
presented to congress an estimate showing
that hardly more than from ten to twenty
years supply of lumber and wood pulp
material is to be found in the northeastern
states, and that Canada could not contrib
ute much to lengthen the time when the
supply must be exhausted. This state
ment attracted the attention of the pulp
makers, and Professor Fernon was invited
to address the association. He said:
Look at the manner in which our woods
have been and are even now being exploit
ed First comes the lumberman. who only
sees white pine; he makes his roads, builds
his shanties and mills. When he has cut
out the best and his roads are grown up
to wood and washed out. and his shanties
who only wants tulip, poplar, walnut. or
oak, or some other one kind; and he builds
new roads, new shanties. and so on, each
one. going to the expense of rigging up anew
each one creating a waste left in the woods
which might have answered some purpose
other than his own. 1t Is only lately that
man is made here and there, the PULLMAN
taking the inferior material and cutting
the logs to lumber. More such manage
ment at least is needed.
Nearly all of the wood DlilD made In this
country is produced from coniferous wood,
chiefly spruce, and the northern states fur
nish the bulk of the supply. New York,
Pennsylvania and the New England states
are the main sources A large export trade
in pulp and paper to Japan and other coun-
tries has grown up within a few years,
and this was thought by some who took
part in the discussion to indicate a decline
in the foreign source of supply. Profess
sor Fernon showed that the conjecture
was not founded on fact. On this point he
said:
find foreign market, there Is no hope to
increase your exports on the supposition
that the forest owners Of Germany, will
ness Of wood-growing. The only hope Is
in managing the first end Of your business
that upon which the whole existence Of
Our Iuiils is paseu-petter tnan nlthertO, ana
in utilizing the forces of nature and the
greater. fertility of your soil and climate
to Guido the German forester; In other
words, by applying forestry.
The production of wood pulp has been
more than doubled three times over in the
period from 1892 to 1897, and there Is no
reason to suppose that the limit Of con-
sumption has yet been approached. 1t is
considered that an average consumption
Of two million cords of wood per annum for
making paper pulp during the next ten
years would be an exceedingly conserva-
tive estimate
The herald., 1898-08-12
Prices and Prospects Of the Trade In
Cereals

CHICAGO, Aug 11.-Instead of showing
deterioration In the condition of spring
wheat during the month, as was expected,
the government crop report made an i'm
provement of 10 per cent. That caused
the price of September to drop nc under
yesterdays close, opening trades being at
65ls465c. After this expression Of bearish
feeling the market commenced to harden
little, the receipts al various points indi
eating that no Increase In the movement
had set in. The aggregate receipts at the
principal primary markets $50, 800 bushels,
against S07 900 bushels the year before. This
striking deficiency, together with an eager
demand for shipping parcels. worked the
price Of September up to 65Nc. 1t was re-
ported from Kansas City that No. 2 hard
was up cents bushei there, and as there
appeared probability of another decrease
in the visible supply, the market became
very strong, after many changes of front.
December was depressed from beginning to
end and wound up 1sc lower for the day.
December closed 1ac higher.
Corn was Influenced by the government
report showing only 3.5 reduction In con-
dtion after all that had been heard of ser-
Gus damage. The recuperative buoyancy
of wheat near the close brought out some
buying orders In corn and the closing figures
were the best of the day. September closed
AM%c lower than yesterday.
: Oats followed the other grains, closing
unchanged to Mc down.
Provisions startd weak, with corn. A
good cash demand, however, turned the
market strong. Pork left off unchanged;
lard gained 21sd5c, and ribs 21ac
The herald., 1898-08-12
The LADY and the War Tax

"Yes, madam, before honor the check
you must stamp,it"
STAMP 1t? What within"
why, with 2-cent stamp, of course.
what is that for?''
WAR tax, madam. Here is the stamp.
Two cents, please"
But 1 don't understand. I won't be
DONE so there!"
II assure you am not trying to do you.
| and this is my busy day
II won't buy any stamps of you just for
spite. The postofrice-''
Postage stamps won't do. You must
have an I. r. stamp"
Just because you say so? Not much! !
know your tricks. You buy these stamps
| by the job lot and make your poor custom
ers suffer for your benefit. You can't
bunco me, even If you are rich"
There is no desire to bunco anybody.
madam. You must affix the stamp and
| cancel 1t, or you can't have the money.
| That's all.''
| But It's my money. Why can't have my
| money without being compelled to pay you
| to give it to me? Why, you have had my
| balance of $4.63 here for nearly two weeks.
| You have certainly let that out several
times to some poor wrttches at hundred
per cent week.
This is no pawn shop, madam"
And now you want to work me for 2
cents more. Well, you can't do 1t, so there!'
STAMP your check or get no money"
| won't, Ell? l'lE send my lawyer hero
| with a power of attorney. I want you to
| know that I know something about the
| law
HE won't get It either without the stamp.
| madam"
won't he, though! You don't know him.
| Anyway, my brother is a second lieutenant
| in the 'Steenth regiment, and I'll get my
money back even X he has to call out the
| whole regiment, so there"
you can have It all now II you afrix the
I. r. stamp"
what does I. r. mean? isabella Re-
gent, queen Of SPAIN Ell? What do you
| take me for? A Spaniard?'
by no means. madam. It means Inter
nal Revenue Hurry, please"
"Oh. you can't rattle me. MY great an
cestor was not monkey. but mule. When
get the check back cam 7 use the stamp
AGAIN."
mo. madam. You would be liable to in
dictment IL you did. This is my busy day.
Don't you see the line waiting for YOUR
Please hurry up. Here! will take cent q
| out Of my own pocket and pay for the
stamp myself, Just to get rid Of this un-
pleasantness. There! Now cancel IL.
please"
"Ah, I thought you would back down.
Tried to bunco me and it didn't work. oh
Look out. now! No punched nickels in
that money just to get even. That's right.
Thanks. Good morning! That's what 7
cali shrewd bargaining. I'll can only keen
| up these clever tactics to the end ri be
richer than Hetty Green.-San Francisco
| Examiner.
The herald., 1898-08-12
The Gold Yield Of 1898

According to the mint bureau at Wash
ington, the worlds product of gold in 1897
was $24O, 1000 and the product OF 1898 is
estimated at S275, 900, an Increase OF $685.
900, OOO Africa leads as gold producer,
and is expected to turn out $75,OOO, 900 this
wear. Australia and the United States are
close competitors as gold producers, each
being expected to turn out about s60.0OO. OOt
this year. The Klondike is not proving
of the Importance anticipated. The most
careful estimates are for product of $10.-
600, 900 in 1898, which Is smaller than either
California or Colorado; California's pro-
duct this year being estimated a $l7, 600, 0W
and Colorado's at $23, OOO, 900. Ten years ago
the worlds gold product was Sl1O,OOO,0OO
Since then 1t has more than doubled, and
now amounts, as just said, to about s275.-
OO0, 600.
The herald., 1898-08-12
LOS ANGELES AND REDoNDo RAIL

LOS ANGELES AND REDONDO RAIL
way Company.
Los Angeles depot: Cor. Grand ave. ant
Jefferson st.
Leave Leave
Los Angeles Redondo for
for Redondo. Los Angeles
500 q. M, Sun. only 100 a. m. Sun. only
$50 g. m. daily 500 q. m. daily
1O:45 q. M, Sun. only $50 g. M, Sun. only
1880 .. m. daily u::00 a. m, daily
$50 D. m. daily 4:15 p. M, daily
100 D. H., Sun. only 6:45 p. m, Sun. only
II 80 D. m, Sat. only $3.50 p. M. Sat. only
Take Grand ave. electric cars or Mali
st. and Agricultural park cars.
l.. ]. PERRY. Superintendent
The herald., 1898-08-12
Treasury Staten emit

WASHINGTON, Aug. 11.-Today's state
ment of the condition of the treasury
shows: Available cash balance, $265 ,4S4 TAI
gold reserve, $194, 1926
The herald., 1898-08-12
Mortgages, $1,000 and Over

DAILY StatementO
8. F. Hunt ct al to Security Saw. Blk.
Lot 10. Severance trt, lot IL. blk
ii per cent %. o -. 81 900
j. C. Rains to Ella II. Burnett--Part
lot As. Rowley trt. yrs, II per cent 1000
8. A. Thompson ct al. to German
Amer. Saw. Bk-I.ot 76, Waverly trt,
installments. IL per cent. ............. 1000
E. w. Heaton to J. A. Keeney-Lot
IA, blk 1. c. M. Wells trt 3 yrs, IL
per cent .......................... Law
Jessie M. and r. II. Wilkinson to l..
Lobus-Lot 146. Westlake Park trt,
l and yrs, 10 per cent............. 1000
T. 8. Beatty ct al. to trustees of est
of ]. II. Banks, decd--Part lot S. SUBJ
cent ..................... ............... 1000
Eighteen mortgages under $1,000 ..... $500
The herald., 1898-08-12

were better. The half-years Statements
expected Immediately. and 1t is believed
that full interest will be paid on the guar
anteed stock. with large amount carried
forward. Other markets were steady, but
featureless. Gold was In strong demand
at us. 10%d. for Russia.
The herald., 1898-08-12
Transfers, $1,000 and Over
DAILY Statemen.)

DAILY Statement)
H. N. Farey ct al. to ]. s. Snyder
Lots q. and part 4, II. N. Farey's
sub. Of part blk 7, Olvewood 49,. 81. 80
Mary F. Parker to Carrie d. VoIlmer "-'''
Part lots II, - and 49, blk 135,
Bellevue Terrace trt ................' $50
Mrs. H. A. and w. M. Kelly to ]. w. -'''
Trostle-Part Sec. &c, N. 10. 600
H. c. Smith to w. F. Pardee-Part
Sec. SO, 1 N. 1o..:..:.:.:.............. 800
Mrs Georgianna w. Fisher to s. A.
Thompson ct al.-Lot 76. Waverly
J. A. Keeney to E. W. Heaton-Lot Il. w
blk !: G. M. Wells trt. .............. 200
]. G.. Smith ct al to A. J. Stamm. ''
Lot 1s. blk A. Cameron trt ....'. a.1o
w. @. Baylie ct al. to F. ]. Meyer
Lot 26. blk 172, Redondo. ............. l.do
?; = Meyer ts Y; g; Bayiie--Part ~
The herald., 1898-08-12
London Markets

NEW YORK. Aug. 1.-THE Evening
Posts London financial cablegram says:
Inc rs In sIfe x y z, frn
York, but there is also more business here
than for some time past: The public them
selves are taking hand. although. as pre-
ters Is to take short profits. Prices An
ished tribe below the best. Grand Trunks
The herald., 1898-08-12

J. T. O'Toole ct al. to T. w. Doyle,
trustee-Part Ro. San Rafael........ 2
]. and Mrs. elizabeth T. Parmlee to
Mrs. Eliza e. Parmlee-Part Sec.
81, S. ........................
G. d. Campbell ct al. to 3. F. Field
and c. e. Smith-Lot 8, blk s, High
land trt add. No. 1................... /
F. r.. Miner to Mary F. Mner-Beg.
at Sc. cor. Sec. rs, 3 S. II. tn. W.
etc. Recommendations.
Fourteen transfers under $780, of
which eight were nominal ..........
The herald., 1898-08-12
Interpretations

Highland Orange Growers association
Highland $500; subscribed, $4,000
Keystone Development company. formed
to do general mining and milling business,
Dewey Gold Mining company, San Fran
cisco: 500 900: subscribed S50O N
The herald., 1898-08-12
MONEY TO LOAN

TO LOAN-MONEY IN LARGE OF
small amounts at lower rates of interes
than others charge on all kinds OF col
lateral security, diamonds, watches, jew
elry, pianos, furniture, life insurance ant
all good collateral; partial payments re
ceived money quick; private office 70
ladies. G. M JONES, rooms 1914, 254 S
Broadway. 1898
The herald., 1898-08-12
Spanish Securities

LONDON, Aug. 11.-Spanish tours closed
at 43A.
PARIS, Aug. 11.-Spanish tours closed at
43171s.
The herald., 1898-08-12

MONEY TO LOAN IN SUMS FROM $1,000
to $2O0, 900, on inside gilt-edged income
bearing property only. Inquire Of F. @.
STORY, room 1903. Henne block, 122 w.
Third st.
The herald., 1898-08-12
LOS ANGELES HERALD: FRIDAY MORNING, AUGUST H. 1898

per 100 lbs, LOS; feed meal. per 100 lbs. 10;
bran. per ton. 2l.O0; graham, per loo lbs.
HAY-wheat, per ton, 1s.0OQ220o; barley.
17.0OG1S.0O; oat. 1700Q20.O0; alfalfa. baled,
GRAIN-Wheat, No. 1, Les; No. ., LEO:
corn. small yellow, LIS: large yellow. LOS;
barley, common. LBS.
HIDES-Dry Gas they run), 14ci 40. KIP.
11Hc; do. calf, 15c: bulls. 7c: salt steers,
4hq51kc; do. stays and bulls. 3hQ4c; cows,
63kQ7c; sheepskins. $685.
All prices of wall paper greatly reduced.
A. A. Eckstrom, 324 South Spring street.
The herald., 1898-08-12
Silver Bullion
CHICAGO MARKET

SAN FRANCISCO, Aug. 11.-Silver bal
5SAc; Mexican dollars. 46146hc.
The herald., 1898-08-12

TO Loans TO PER CENT MONEY.
block. II
The herald., 1898-08-12

Z. :. ~ IL, %. ~ S' Qct; =, p anp eYsIS
ANGELES at a: m. and REDoND0 A.
10 a. m. for San Diego avg. /, g. 9, Is, II, y
and every fourth day thereafter: Cars
connect via Redondo leave Santa Fe depol
$3.50 a. m. Cars connect via Port Los An
geles leave S. P. r. r. depot at 1:S5 p. m
for steamers north bound.
The steamers COOS BAY and HOMER
leave SAN PEDRO and EAST SAN Pc
DRO for San Francisco via Ventura. Car.
Hartford. Cayucos, San Simeon, MONTEREY
and santa Cruz at $50 P. M :, AYg - 4, 8. u;
and every fourth day thereafter. Cars
connect with steamers via San Pedro leave
and Terminal Ry. depot at $40 p. m.
For further information obtain folder The
company reserves right to change, without
previous notice, steamers, sailing dates and
hours. Of sailing. w. PARIS, Agt.,
lA V; second St; Los Angeles
Gen. ACTS. 8. F.
The herald., 1898-08-12
The national bank circulation based on
bonds has decreased Sl,3S5, 407 during July

The treasury receipts during July were
S43, SAT, 1OS and the expenditures S4263, ATS.
OF the disbursements 1874, T4153 were made
on account of the army and $75l4,2s0 on &C
count of the navy.
The herald., 1898-08-12

MONEY LOANED AT NET INTEREST
rates from "A to per cent per annum,
according to character and size of loans.
EDWARD D. SILENT & CO., 212 w. Cd.
II
The herald., 1898-08-12
Closing Stocks

NEW YORK, Aug. 1.-THE following
are the closing prices on the New York
stock exchange today:
The herald., 1898-08-12

MONEY LOANED ON DIAMONDS,
watches. jewelry, pianos, sealskins, car
riages, bicycles, warehouse receipts and
all kinds of collateral security; storage
free in our warehouse. LEE BROS. 402
s. Spring st. TT
The herald., 1898-08-12

MONEY TO LOAN ON IMPROVED
real estate; interest decreases as you pay.
STATE MUTUAL BUILDING AND
LOAN ASSN, 14l S. Broadway. 5-2O-tf
The herald., 1898-08-12

MONEY TO LOAN-s2OO TO $4,000 ON
city and country real estate. LEE A. Nc
cONNELL & CO., las s. Broadway, Frost
building. tt
The herald., 1898-08-12

L CAN MAKE YOU LARGE OR SMALL
loans at very light expense. HENRY
HART, 1903 e. Second st. tt
The herald., 1898-08-12
Bond List

| NEW YORK, Aug. 1.-THE following
| York stock exchange today:
The herald., 1898-08-12
Pacific Coast Steamship Co.

The company's eleTan,
steamers SANTA ROSA
and POMONA leave RE
DONDO at IL a. m. and
PORT LOS ANGELES al
2:3O o. m. for San Fran
cisco via Santa Barbara
and Port Hartford Aug. 3
7. II. LIS. 10, %, n, 81, Sept.
The herald., 1898-08-12
PHYSICIANS

DIR. UNGER CURES CANCERS AND
tumors; no knife or PAIN. 10TH N. Main
street. II
The herald., 1898-08-12
Dried Fruit Prices

NEW YORK, Aug. 11.-California dried
fruits dull.
Evaporated Apples-Common, case per
pound; prime wire tray, 81aqSAc; choice,
S$4@9c; fancy, 914c.
Prunes-44Sc.
Apricots-Royal, SlkG1oc; Moorpark. 100
12c.
Peaches-Unpeeled, $3.50; peeled, 12a16c.
The herald., 1898-08-12
Local Quotations

OIL CITY, Pa, Aug. 11...CAnnt balances,
96c; certificates, sales 10000 barrels cash at
95lac; closed, 95iac bid for cash.