The herald., 1898-03-12
THE INVESTOR
CONDUCTED BY GEO. A. DosINsoN
OFFICE OF THE HERALD,
Los Angeles, March II, 1893.

OFFICE OF THE HERALD.
H. Los Angeles, March II, 1S9S
'All passions are good when one masters
them; oil are bad when one is a slave to
them"
February bank clearings totals, as re-
ported to Bradstreets, point Enthusiastically
to an immense volume of business being
done In the country at the present time
Though undoubtedly rejecting settlements
OF some business done before the month
began, and therefore open to the qualifica-
tion that they do not entirely represent
current business, still the comparisons
made with previous Februarys are such as
to prove that the operations now being set
tied through the banks are far in advance
OF records established in the corresponding
periods OF previous years. Naturally
enough, the bank clearings for February
were smaller than January's record-break-
ing totals. but this was evidently so only
for the reason that February was short
month, and that two HOLIDAYS still
further curtailed the time available
for business transactions, because
the average daily clearings during
the month of February were con-
siderably larger than were those for
January. and given the same number of
business days as January, the total clear
1ngs would have far surpassed those of
the opening month Of the year.
Inc aggregate cearings of seventy-seven
cities OF the United States during the
month Just closed amounted to S. 534, ,432, ,G76,
decrease of Z per cent from January's
total but an increase over February, 1897
Oh nearly 81 per cent. over February, 1885,
or % per cent, over February, 1895, of 62
per cent, and over the same month of 1894
which constituted the low-water mark Of
pank clearings since the panic, of 73 per
cent Compared with 1892, the heaviest
February on record there is a gain shown
tnis year OF more than per cent.
Nothing has been done in the way Of
preparation for the next annual meeting
OF the California Bankers association. The
last meeting was held in this city in April
1897. 1t seems to be the intention to defer
the meeting this year until fall There was
an eighteen months interval between the
last two annual meetings. The matter of
time and place. however, is in the hands
of the executive council. and neither time
nor place has yet been fixed.
O o 0
The Philadelphia stock market has for
number of years interested itself in enter
prises connected with street railway light
ing and electrical developments with 10
little profit and success. Probably its most
signal example in the latter respect is the
United Gas Improvement company, an or
ganization which, by securing the control
of the local gas companies in large num-
Der of cities, particularly those of moder-
ate size, and introducing modern methods
In their management, has been leader In
the revolution in the general gas interests
of the country. Attention has recently
been directed to this concern by the leas-
Ing to 1t Of the Philadelphia city gas works
and :he prompt absorption by the Philade
phia and New York investment markets of
tbs bond issue created in connection with
this operation. This week. says Brad
streets the company in question has taken
another step which eXcites more or less
attention, in the form of an increase in It's
share capital from $l1.5O0,000 to $1,000 900,
the understanding being that such por-
tion OF the increase as may be decided to
issue at once will be offered to the present
stockholders at the par value of the
shares, which is $50 AS the market price
of the stock has recently been about rs,
this involves considerable premium to
the stockholders, and the management pro-
fesSes the utmost confidence that the use
of the additional capital thus provided in
extending the general field of the compa-
ny's operations will insure the continuance
OF the present per cent dividends upon
the stock. Apart from this phase of the
matter it draws increased attention to the
extensive development in other cities than
New York, and to the success which IN
such quarters has crowned efforts of loca!
financiers to work in fields that Wall
street has to large extent neglected.
O o o
The transactions of stocks on the New
York stock exchange for February We're
9,0l1 .29l shares, an increase of 61Sl.735
shares as compared with the same month
last year. The transactions in state and
railroad bonds aggregated S95, ,057 800, an in
crease of $56,675,300.
An ingrain-carpet trust is reported form
Ing. Philadelphia advices are that the
plan has already received the assent of the
principal ingram manufacturing firms. The
new company is to have capital of $l0,-
000.000
Notice of an advance of 10 per cent in the
prices of rubber goods have been issued by
the Canadian Rubber company of Montreal
and the Gutta Percha and Rubber Manu-
featuring company of Toronto, limited
The reason given is the increasing cost of
crude rubber.
The statistical strength of the currant
market, says grocery trade paper, may
be gathered from the fact that stocks in
Greece have been reduced to 1000 tons,
while the estimated requirements, not in
CluulIlb tlc pOSSlDlG WdulS VI TdHCc anu
Russia. are 2sOOO tons. 1t is long time
since the position of the currant market
was as strong as it is today.
O O O
March 1st was the date set for bringing
out the new $S7 ,000,0 900 wire and nail trust,
but the floating of the scheme will be de-
layed owiog to the Spanish trouble.
Dividend Notes
The Commercial Cable company has de-
clared quarterly dividend of 124 per cent
on it's capital stock, payable April 1st
The North Shore Traction company has
declared Il semiannual dividend of per
cent on it's preferred stock.
A representative of the Hamburg-Amer-
company for the last year are found to be
about the same as for the previous year.
which were about 81. $50 900, and that the
company has declared a dividend of per
cent.
The Philadelphia Traction company has
declared dividend of so, payable April 1st
The Consolidated Gas company of New
York declared Friday a week ago it's quar-
terly dividend of per cent, payable March
18th.
Real Estate Transfers
Friday. March 18th.
T.. A. and L. J. Bacon to w. Faulkner
Lot 81 and part 80, blk. d, w. l.. A. $500O
w. and M. M. Faulkner to T.. A. Bacon
Part blk. r, Painter & Balls add: $4,000.
A. s. and c. Kerns to c. d. Jackson
Lots Is and 10. blk. X. Nadeau Orange trt;
$500.
s. C. and A. l.. Pitzer-Und. u of lots
rYr6