The herald., 1898-02-09
orr1cp On rHE HERALD.

OFFICE OF THE HERALD.
LOS ANGELES, Feb. s. 1898.
..Everv man has three characters; that
which he exhibits, that which he has, and
that which he thinks he has.
Mr. 7 M. Elliott, president of the First
National bank, was last week, at meet
ing OF the Board of directors Of the Sc
curity Loan and Trust company Of South
ern California, elected president OF the
latter corporation. Mr.. elliott succeeds
M. w. stimson, who has disposed OF his
interest in this company and in the Union
HonIe of Savings, and retired, in order to
rive his attention to the large private
interosts which he and his brothers have
here and in the east. Mr.. Elllotts cleo
tion will add to the good standing which
this company already has. and is highly
satisfactory to all parties concerned. Mr..
w. s. Bartlett. formerly cashier of the
Commercial bank of Santa Ana,
was elected vice president of the
same company, and was also. pres
ident of the Bank Of Savings,
rom which Mr.. Stlmson, who established
and made it prominent, has also retired.
Mr.. Bartlett's long residence here and his
extended experiences here and In San
Francisco in banking and financial mat
ters, will give character also to the pol
icy of the savings bank, which assures not
only prudent management, but places this
- \, forapnnst N
the city.
The stockholders of the Los Angeles Ter
minal Railway company and the Los An
geles Terminal Land company held their
annual meetings in tits city yesterday.
Very satisfactory and encouraging re-
ports for the past ye;r were submitted,
and the following OTHERS and directors
were elected for the ertuing year:
Los Angeles Terminal Railway compa-
ny--Directors, Geo. b. Leighton, II. e.
Gibbon, s. b. Hynes, ". C. Patterson,
Chas. Forman; presidert Geo. B. Leigh
ton; vice president, T. II Gibbon; general
manager, s. b. Hynes; sdfetary and treas
urer r. X. Rule.
Los Angeles TerminaILand company
Directors, r. c. Kerens. Seo. b. Leighton,
+. X. Rule, Il. e. GibborlS. Il. Hynes, w.
H. Workman, II. ]. Woo'hcott; president,
r. c. Kerens; vice presideit and treasurer,
F. X. Rule; secretary, VIII. Pickering.
The officers OF both colDorations to re-
port to the respective presidents and
and boards of directors.
o o
r. G. Dun 4 Co.'S moNnis .eview of
trade conditions in Souiiern California
says:
The first month of the lew year shows
continued increase in volume of business,
but little or no price Improvement. Dis
tribution is satisfactory in post lines, with
special activity in iron aid steel trades
The cotton manufacture in the most
unsatisfactory condition, bat the tone of
the situation has been improved by the
closing of many mills. The heavy outgo
Of wheat and corn for De month shows
the strength of foreign demand. The
money market still remaiis confident, and
foreign exchange is heldwithout altera-
tion. The Alaskan trad! keeps business
decidedly active on the Iacific coast.
IrnlAr immediate distrtt the month did
not ling the anxiously' ooked for rain.
However the rain is now tlling. and with
every prospect of enoul moisture to
make Southern CALIFORNIA; grain crop
prospects brighter, whichhad begun to
look critical. The fruit cbps, of course,
were not suffering. Prices or oranges are
q little disappointing, and while the dam
aged and doubtful fruit being pushed
forward, glutting the mi'kets at some
points, those who have choee prime fruit
are inclined to hold for ,igher prices
Dried fruits, nuts and raisis move slowly
The eastern demand is aiittle better;
prices fair, but not advancig. There is
large demand for evaporatl vegetables
exceeding the supply. Honeys quiet, with
large stocks. Locally, few cinplaints are
heard of business conditionsI January is
usually an off month. Semi-hnual clear
ance sales stimulate activityin some re-
tail lines and both jobbers nd retailers
express themselves as satiss ID with the
outlook for heavy spring Ade Build
Ing is active. The oil marke holds prices
unchanged, with a good ste0y demand
Money is easy. with plenty II any legit-
innate business proposition. fore capital
Is going into Southern Calijrnia's beet
sugar industry. The Hueners factory is
progressing rapidly. and ther is strong
probability that foreign CAPITALISTS now
looking over the field will establish a large
plant somewhere in this sectip. Failures
for January, IA; liabilities, $3l000 assets
$4,000; against SO in JanuarS lb7, with liza
bilities of $4,000; assets, $1S,0Q.
o o o
British trade totals for 1897 received in
considerable detail, make p1sihle some
comparisons between our owl trade to-
tails and those of our larges tingle Gus
TONER. The advantage whiclEhe United
Kingdom still has over the UN ed States
as regards foreign trade is we Illustrated
by the figures of the import nd export
trade of the two countries The total
value OF our domestic exports The calen-
dar year 1887 was 81. .OI9 962 95e nd of i'm
ports $742. .630,S $50. British expor Of domes-
tic merchandise. on the sr hand.
amounted to s1,136, ,597 500, VIII imports
amounted 10 S2,lSS,6O4OOO Thel is shown
an excess OF British domestic orts over
our own of s57,000,0O0. while tn imports
exceed ours fully $i,4A6,O00000. art of the
immense discrepancy in our nports is
OF course chargeable to the gr shrink
age in our own import trade of te wears.
ana the TACT that the import de of the
United Kingdom represents a i,ge uuan-
tity of transit business should 4 be for
gotten.
Perhaps the most reasonable eV;anation
~ however that the United He'gdom IS
CONSUMING country withoutEJ1ual, Ms
even anowlns LOT hcavy re-eN rts, the
Imports exceeded the exports s'ls9T nv
neariy sfoo,~voo. The fact sSlld also