The herald., 1898-02-20
THE INVESTOR
CONDUCTED BY GEO. A. D0BNsoN
OFFICE OF THE HERALD
CONDUCTED BY GEO. A. DOBINS0N

OFFICE OF THE HERALD.
Los Angeles, Feo. 10, 1898.
'"To place wit above sense, is to place
superfluity above utility"
The San francisco Bulletin says: ut
appears to be conceded that Hon. MIR.
MarlSley of Santa Rosa WIN be appointed
bank commissioner In place of Col Fuller
whose four year term expires this month
Should the appointment be made, Mr.
Markley will probably assume the office
on the 1st of March,
The Commercial Bulletin has the fol-.
lowing to say about the walnut crop of
this section, which is usually regarded as
one Of the most certain and profitable of
all the products Of Southern California;:
THE walnut crop of 1897 Is at last about
marketed. Those who sold earlier got about
$ cents for soft shell and cents for stand
ard. Those who held and then were forced
to consign their goods to eastern commits
sion men got about 3 cents net for either
kind. What was the trouble? The grow
ers gave out that the California groves
would yield not to exceed half a crop. The
fact is they turned out so per cent more
than the crop of any previous season.
Meantime, acting on the report of short
age, eastern merchants purchased freely
French nuts, and the result was that there
were twice as many of the goods as the
markets could take care of. After the
holidays what was left had to be sacri-
feed.
'''To remedy this bad condition of things
two or three things will be necessary.
First. growers will do well to make more
careful estimates of the crop. Second 1t
will be well to bear in mind that French
=.
SL cents, and therefore we cannot get
cents for ours in California Again, the
larger associations will be obliged to reck-
on with the smaller ones. Some of the
growers who held the umbrella this year
are cold and wet. and say they will not be
caught out in the rain again. Some say
no matter what price the big associations
put on their crop this year. they will sell
at half a cent under that rate and beat
them.
THE practice of putting large slice of
the crop in the hands of one or two firms
exctes bitter hostility among the houses
and brokers. who do this interest all possi-
BILE injury. 1t would seem better to make
an open market. get up competition among
the buyers and give each man an even
chance. Then the race will he to the best
rustler who has the best judgment, and
the growers will fare better"
A Fort Scott, Kas.. dispatch says: 1.-THE
death knell of the once promising sorghum
sugar industry in Kansas. upon which the
government spent almost $3.50, 900 in expert
ments, was sounded here today. when the
last piece of sugar machinery in the state
was sold to Nebraska men for shipment to
that state. The machine was from the
Parkinson factory at Fort Scott and cost
$lo4.0 GOO. 1t sold for $1,000. This was the first
station established by the government and
survived all others. The industry in Kan
sas collapsed after the government re-
moved the bounty on sugar."
Perhaps the most humiliating incident
TO Englishmen in the invasion of this mar
ket by Americans is the trade Just begun
In golf clubs" says the London corre-
spondent of the New York Sun. "An agent
of an American house came here a few
days ago and had no difficulty In obtaining
orders for 5000 clubs from the largest deal
ers In golf goods In Scotland and England
The reason is that the American clubs are
better made and finished than the English
at anything like the same price. The rea-
son why Americans can undersel the
British makers is that improved machin-
cry and advanced methods of manufacture
are used in America"
O O o
trade Is demonstrated by the announce
ment that one of the largest steel plants
in the country will hereafter run seven
days In In, t., the week ITO the best Of our
precedented. For short periods, when the
demand has been exceptionally heavy, en-
croachments have been made on Sunday
by putting on full turn on Sunday night
but the machinery was stopped for half to
three -fourths of the day. In the case of
this plant; however, no day of rest is to be
taken. The Amalgamated association OBJ
tected, but its objection appears to have
been merely formal, as the members who
are employed in the works are not dis
pleased at the opportunity to increase
their earnings. Something had to be done
to enable clamoring customers to be sup
piled with steel, and the addition of an
other working day to the week was re-
garded as the simplest solution of the diff
fculty. 1t will probably be only a tempo
rary arrangement. as continuous operation
Of steel works and rolling mills is hardly
practicable"
The Pittsburg, Pa, Wire company has
shipped 500 tons of rods to Toxic Japan,
as the initial supply for the first wire mill
to be built in Japan.
1t is said that the Calumet & Hecla sold
100000 pounds of copper to Connecticut
manufacturers at II cents before it with
drew from the market at that figure.
A Philadelphia dispatch says A sale of
1900 tons of pig iron has been made in
this market for San Francisco delivery.
o O O
The Tradesmen's National bank of New
York has absorbed the Clinton bank. The
former was organized in 1923. and has
among its patrons two or three genera
tions. This is the second or third bank in
New York to be absorbed in the last few
months
Interpretations
Noyo Shingle company, San Francisco;
$50 .000 subscribed, $625.
Haslett Warehouse company, San Fran
cisco; 5000 900; subscribed, $250O.
Grover Cleveland Gold Mining company;
Monterey; 500 900; all subscribed.
Yukon Commercial company San Fran
cisco; $25, 900; all subscribed.
Alaska and Arctic Mining company, San
Francisco; $4,000; all subscribed.
National Bank Changes
The latest bulletin of the comptroller of
the currency, dated February A. gives the
Following among other changes