The herald. [microfilm reel] (Los Angeles [Calif.]) 1893-1900, 1898-12-07

Goth Of September amounted to safe, 3d.
Gil, gain of sos, 743, 497 for the year, or
over 6 per cent. Including premium and
United States bonds on hand to secure pub
lie moneys, there ia value OF $6l3, 1883, l05,
an increase of Sl27,24l,62 These invest
ments in bonds and stocks and the loans con-
stitute the main income sources OF the
banks. OF course, there are minor factors,
such as arise from sales of exchange, collec-
tions, rents and the like. The amount OF
specie reported is S293, 1874, 1853 and of green
backs and currency certificates $l26, 848, 800,
gain of $54, 1885, 456 in specie and loss of
$22, 646,623 in currency.
Through the defamation in the number
OF banks, the capital Of those now in opera
ton is $62l, SIT 1896, a decrease Of about Sl0,-
100000, The surplus shows little change, but
the undivided profits show a gain of nearly
s., 100000. The net bank circulation is Sl94,-
4S3, 765, decrease of $4,500,000. This is also
the result of the lessened number of banks
reporting. The individual deposits aggre-
gate $2,03l ,454, 540 gain of $l83, l05, 4l2 for
the twelve months The amount now to the
credit of depositors is the largest ever re-
ported. The deposits from individuals con-
sttute a little over one-half of the entire
resources of the banks. Many of these de-
positors are also stockholders and consti-
tute the real bankers of the country, though
engaged directly in other forms of business.
Those who imagine that all the evils of the
country are traceab!e to the banks will do
well to bear in mind the large array of
reputable business involved in such an at
tack. The banks are just what the people
have made them.
Stability Of Securities
There is not single state or city street
railroad, bank corporation, gas, water, cleo
trlc light, insurance or other company which
issues stocks and bonds, but is subject to
competition, some disaster or reduction of
its charges; yet people within the last few
years have bought stocks and bonds of
these corporations as though their value
had never in past history been shaken, and
as though they were absolutely unshaka-
BILE in value in the future. Yet their history
is largely record of disaster and fuctua-
ton. The Chicago, Boston and Portland
fires blew up an unprecedented number Of
insurance companies. Here and across the
bay many street railroad lines do not pay
and as we lately showed, says Magee's San
Francisco Real Estate Circular, when such
utterly shaky concerns as the two MELON
aid banks collapsed-as every good business
man long believed they undoubtedly would
all OF our banks, commercial as well as
savings, received very bad shake up, and
all of them suffered from severe run Be-
fore that run occurred, stock of the Bank
OF California was worth 1865 a share; within
short time thereafter it had touch down
to S2l2; it has not yet recovered its former
value either. Good-we say good-real es-
tate is not subject to such fluctuations OF
course, ordinary real estate is, especially all
lots that are sold under the robbery of
credit auction sales in boom times BY that
means, in time of excitement, prices are
worked up to two or three times what va
cant lots are worth. But if good real estate
is fairly compared with the best of stocks
and bonds, it will be found that it is less
subject to fluctuations of price than the lat
ter class of securities