The herald., 1898-03-25
TIE INVESTOR
CONDUCTED By GEO. A poBsson
OFFICE or THE HERALD, +
LOS ANGELES, March "a, 1898.

OFFICE or THE HERALD,
Los ANGELES, March "a, 1885,
''The secret OF being well OFF is to know
how to do without things"
The Bankers Alliance policy holders are
receiving a circular letter from the Chi
cago Guaranty Fund Life society IN which
that institution makes a feeble endeavor to
insist upon the acceptance Of its policies in
substitution OF those of the Bankers ALI
ance. chiefly on the ground that Receiver
Washburne had promised ''he would in no
way interfere with or hinder the success
ful carrying out of the arrangements as
originally contemplated"
1t Is not shown that Mr. Washburne has
interfered. In fact. he has no right to in
terfere. policy holder in the Bankers
Alliance has perfect right to take out
Q policy in the Chicago Guaranty or in the
Mutual Reserve. or to let them alone. A
passenger has right to travel In a leaky
vessel, but he would not be considered as
exercising sound Judgment II he aid 80.
Since the destruction of the Maine there
has> been a great decline in prices on the
New York stock exchange. This may be
seen In the following comparisons, the quo
with those Of March 14th: Atchisonl pfr.,
SIX to PA; Burlington and Quincy, 1921 to
80; Canada Southern, 66h to 46ss; Louisville
and Nashville, so to 4S; Manhattan. 117A to
09M; Michigan Central, 113 to 101 New York
Central, 1885 to 10; Omaha, 77N to 67h;
Northwest, 12sM to 117iz; Missouri Pacific
83A to 24H; Rock Island, DIX to san; st.
Paul, e5% to s9M; Western Union. s2M to
66N. In each of these instances the prices
on Saturday were considerably lower, the
market registering general and decided
recovery on Monday
At the San Francisco stock and bond ex-
change Vigorit powder sold at B. 8. F. Gas
and Electric at S9A, Hutchinson Planta-
tion at AZ to 46x. Oceanic steamship at 90,
Spring Valley Water at 10i. Hawaiian Com
mercial a0ss to 30M.
The Investment board reports sales of
Hutchinson Plantation at 464s, 8. f. Gas
and Electric at SO. Spring Valley Water at
101N and Oceanic Steamship at 57%.
The recently published annual report of
the insurance commissioners of Rhode
Island shows that twenty-six old line COM
panies, three Industrial and seven assess
ment companies do business In the state.
The old line companies issued 2797 policies,
aggregating $6.7S9,OS5. and they received In
premiums 81, 1856, ,4g2. The industrial COM
panies issued s7.6SS policies, insuring S. ,605,-
$50. and received premiums of 1854 .652. The
assessment companies wrote 401 policies for
$7S9. .4O4 and received In premiums $b4 ,5Ol
The total policies issued were 40,9S4, insur-
ing for $1S,1S4.679, and the premiums re-
ceived amounted to $2,04S,645.
Some national banks are now coating
their new issues of bills with pagamoid, a
substance which renders the faces of the
bills, practically water, grease and dirt
proof and greatly prolongs its life and APP
pearance.
Arthur ]. shdw. receiver of the First Ma
tional bank of Spokane. Wash. is distrib-
uting dividend of % per cent to creditors
This is the first dividend. 1t is expected that
the bank will pay from s5 to 3S per cent on
deposits before the trust is wound up. This
means that dividends amounting to 1S or 16
per cent are yet to be declared. Had 1t not
been for the recent judgment of 1885, 900
against the trust secured by the American
Exchange National bank of New York, 1t
is thought nearer so per cent would have
been received in dividends from the trust
than 35 or 3S per cent that is anticipated.
capital stock of $12, 900 900. has been incor-
porated at Trenton, N. J. One-half the
stock is to be preferred with per cent GU
mulative dividends. The Pagamoid Leather
Textile and Paper company has also filed
articles of Incorporation at Trenton, with
an authorized and paid UP capital stock of
$1000,O00 The company is formed to man
ufacture paper, textile and imitation
leather goods.
20 o o
Some reformers at Washington have
brought up the question of the
desirability of changing the metals
out OF which the minor coins of the
United States are made, says Bradstreet's.
After some consideration of the matter
the house committee on coinage, weights
and measures has reported favOrably a res
olution authorizing the secretary of the
treasury to make experiments to determine
the best materials for minor coinage and
to submit new designs for coins, to
congress. AS the result Of it's deliberations
upon the subject, the committee has
reached the conclusion that the copper cent
Is undesirable because 1t becomes dingy
and dirty and by corrosion poisonous, and
that the five-cent nickel. three-quarters
copper. should be displaced because it is too
soft. 1t Is pointed out by the committee
that Switzerland, Austria, Hungary and
Italy have adopted pure nickel for their
ahiHor coinage WIN very satisfactory re-
suits, the coins being hard, durable and re-
tanning their color, while not corroding
o o o
1t is reported that 10 per cent will be
called Immediately on the new stock of the
United Gas Improvement company Of Phil
adelphia, and the balance from time to
time as required. Temporary receipts will
be issued in place of new stock 1t was
decided to increase the capital stock from
Hl5O0,O00 to $15, 600 900, as 1t Is believed the
business of the concern will warrant it.
o o o
On the new Siberian railway 5000 miles of
steel rails have been laid already at cost
Of $50 900 900 rubles July 1, 1904 1t is thought,
win see locomotives running from the
shores Of the north to those of the Japan
sea. Within eighteen months trains are to
run over the Siberian road to the Amoor
river Thence by fast steamer passengers
ana freight are to be pushed on to Chabo-
rowka; thence, in eighteen hours, over the
south Russian section of the Siberian road
to Vladivostock, making the distance from
England to the most important harbor of
the Japan sea seventeen and one-half days.
1t is estimated that when the road is III
working order, after the first few years
ana nisn rates of speed across Siberia are
attained, the entire trip will be made in
nine days and two hours.