davidaulloa/AmericanStories huggingface dataset:
The herald., 1898-11-08
CONCLUSIVE OPINION AGAINST
THEIR LEGALrTY
ASSIGNMENT OF LIFE POLICIES
How Not to Run Bank.-Coucernin
Fruit Exports-Mortgage Taxa
:, tion-Insurance Notes
OFFICE OF THE HERALD.
Los Angeles, Nov. 7, 1898.

LOS huRclCSy 1NOv. ., Ao0c.
Some discussion has arisen in New York
lately concerning the legality OF branch ma
tional banks established by parent institu-
tions in the same city. Comptrollers OF the
currency in the past have decided without
exception that the national banking act
does not contemplate the opening OF SUBJ
offices, or branches, and Deputy Comptrol-
Ter Murray, at the request of Comptroller
Chas. Dawes, last week prepared an elab-
crate opinion on the question.
Mr.. Murray, himself an able attorney,
holds with his predecessors that if branch
banks were intended by congress to be al
lowed, the reading would necessarily be.
''The places where it's operations of dis
count and deposit are to be carried on, desig-
mating the state or states, territory or ter
ritories, district or districts, and the par
ticular county or counties, city or cities,
town or towns, village or villages" Section
tl54 of the revised statutes authorizes the
conversion of state banks into national
banks and gives in detail what must be
done in order to accomplish the conversion
Section 5l55 granted the special privilege
to state banks having branches to retain
them when they were converted to the ma
tional system. If it was intended that ma
tional banks should have branches nothing
more would have been required than to
have allowed the state banks simply to con-
vert, but the special privilege was given to
state banks having branches to retain them
provided they would come into the national
system. The granting of this power to re-
tain branches to a state bank having them
when it entered the national system has
been construed by every comptroller to be
absolutely conclusive on the point that
newly organized banks were not authorized
by law to have branches.
The question naturally possesses the
greatest interest in New York and other
large cities, says the Financier where the
population is sufficient to maintain many
independent institutions. If the New York
banks, for example, could open branches in
different parts of the city, they would prove
formidable competitors to existing institu-
tions, and might build up profitable busi-
ness. But it is doubtful if the New York
banks would care particularly to compete
with each other in this respect. Their pol
icy up to the present time has been to buy,
through their stockholders, large interest
in independent similar banks, with repre-.
sentation on the board of directors and one
or two trained men in executive positions.
In this manner several of the New York
banks have made valuable connections, al,
though, to be candid, they figure in the mat
ter solely through common ownership of
stock by individuals. The comptroller's
ruling seems to settle the fate of local
branch banks until congress can be persuad-
ed to amend the present law.
The herald., 1898-11-08
Chicago Girl jailor on a British Ship

There is at present staying at the Scandi
navian Temperance home, East End, Lon
don, an American girl named Alice McKin-
ley, who passed for one complete voyage and
part of second as boy and member of the
crew on board the British steamer Bignon.
She is 10 years old, and lives in Chicago.
During the voyage to England she performed
satisfactorily all the duties common to sea-
man, including that of steering the vessel.
Her sex was only discovered on her own con-
fession. The American consul has charge
Of the case, and Alice expects to return to
America shortly.-London Cable Letter.
The herald., 1898-11-08
Assignment of Life Policies

The Insurance Times recently addressed
q circular letter on this subject to all the
companies represented in this state. The
replies received show a lack of uniformity
of practice in the settlement of claims un-
der assigned policies. Our contemporary
publishes the twenty-one replies in full,
but they may be summarized as follows:
i. Does a company require any proof of
interest to accompany notice of assign
ment?
The Prudential Insurance company of
America and the Vermont Life Insurance
company reply: Yes. Ten companies reply:
No. The others make qualified or nom
committal reply.
2. When an assigned policy natures does
your company require proof OF interest of
assignee in policy?
Seven companies reply: Yes. The pro-
cedure of the others making definite reply
is generally determined by the form of the
assignment.
g. Is it customary to pay the full amount
of the policy to an assignee irrespective of
his interest in the policy?
The Kansas Mutual, the Mutual Benefit,
the National Life Insurance company and
the Vermont Insurance company reply:
No. The Assignment being unconditional,
the dermanla, John Hancock, New York
Life and Travellers reply: Yes. The other
replies are qualified or noncommittal.
4. When policies are sold at auction does
your company feel obligated to pay the full
amount of the policy irrespective Of what it
may have cost the purchaser?
The Germania replies: Yes. The Ameri-
can Union, Kansas Mutual and Vermont
Life reply negatively. The others are non
committal and generally say precedents are
lacking.
5. If any of the conditions of the policy
have been violated, does your company rely
on such violations as against the purchaser?
The Vermont replies: No. The other
companies generally hold that the assign
ment of policy does not in any way vary
the terms and conditions of the contract.
It is possible that the contradiction in
these replies is more apparent than real.
Without precedcnts and without legal de-
cisions, of course common sense and legal
advice would naturally determine each case
according to the circumstances. This de-
partment has called attention to this sym
postum, because it shows very clearly that
the purchaser Of life policy at auction does
not know what he is doing
The herald., 1898-11-08
How Not to Run a Bank

The cashier Of the First National of Lis
bon, O., is defaulter to large amount.
The bank is closed, and prominent mer.
chant who was on the cashiers bond has as
signed, If the bank directors had insisted
on independent audits or examinations, the
if they had merely insisted on the cashier
giving a bond with reliable surety com
pany the merchant would not be insolvent
Here are two shining illustrations Of how
not to run a bank, which are worthy Of fur
ther refection.-New York Financier.
The herald., 1898-11-08
Mortgages, $1,000 and Over
(Daily Statement

Charles W. Damerel to Elizabeth H.
Howard-Lot l3l, West Lake Park
trt; yrs, Q per cent. nt..............$ 1900
Adelia McNelly, Chas. McNelly to
Hannah f. Howe-Lots "a and 25,
Carter Grove trt.; yrs, 10 per
cent ,....,.;..... 80. 80. LOO
Frederick X. Adams to G. f. Lehman
-Blks. A, b and G, Farey's SUBJ; l
yr.,. 10 per cent. .......;. 1000
Caroline L. Merriman and Maurice II.
Merriman to Thomas A. Reed-Lot
l, bl. B, M. d. Painters resub.; l,
2 and yrs, per cent; $500, $500,
$1,000 1000
Charles H. Frost to Anniss l.. Lam
kershim--Lot NV. cor. of Broad
way and Second st.; yrs, IN per
cent ................ ....... $4,000
Twelve mortgages under $l,OO0...... 1896
Total NEUTRALITY-SUSPICIOUS.. 1856, ,995
The herald., 1898-11-08
Mortgage Taxation

Information was asked for by a New
York City lawyer as to whether mortgage
is taxable at the time of its delivery and
record, or whether it will be sufficient
compliance with the war revenue bill to put
stamps upon the mortgage at the rate of
70 cents for eyefy $500 advanced or fraction
thereof exceeding $1,000 at the time when
the money is advanced. The acting COM
missioner of internal revenue ruled that a
mortgage must be stamped to the amount
Of the consideration therein at the time of
it's issuance, delivery and record.
The herald., 1898-11-08
Electric Light Decision

In the case of McIsaac VS.. the North
ampton Electric Lighting company, which
arose upon an action to recover for personal
injuries sustained by the plaintiff while in
the defendants employ, owing to the break
ing of a pole upon which he was at work, it
appeared that the pole was decayed below
the surface of the ground. The supreme
judicial court of Massachusetts, held that
the plaintiff assumed the risk Of accident,
and that the company was not required to
inspect the poles below the surface of the
ground To ascertain if they were sound.
The herald., 1898-11-08

nous absorption in the bonds issued for the
purpose of reorganiza ton OF various COM
panies and running form so to 100 years.
VI these the four per cents were the ia
vorites and the Atchison issues were cas-
lily the leaders. gaining one per cent in the
IS, 700,000
United states fours, coupon, and the Sec
onds advanced "a, and the old fours and the
new iours, registered, and the fives, " in
The herald., 1898-11-08
Concerning Fruit Exports

The fruit growers of the United States
lchieay those of the Pacific slope). writes
Consul Graham from Winnipeg, supply at
least four-ffths OF all the green fruit con-
sumed in Manitoba and the Northwest Ter
ritory Of Canada, but there is danger that
this practical monopoly Of the market NAV
not be maintained in the future. Canadians
seem tp be waking up to the situation and
The herald., 1898-11-08
the Dominion and provincial boards Of ag.

the Dominion and provincial boards Of ag-
riculture 20 induce them to assist in pro-
vIding better facilities for preserving, pack
ing and transporting Canadian fruits. En-
.ouragment is being given to the erection
Of cold storage plants and packing houses,
and transportation lines are being worked.
Still greater care in selecting, packing and
shipping will be necessary on the part of
American fruit growers if they would con-
tinue to hold their supremacy i'll Manitoba
markets,
The herald., 1898-11-08

Daily Statement)
Harry Jackins, NJ. S. Tyler and Lydia
=. Tyler to Charles w. Damerel-
Lot Isl, West Lake Park trt.. 8 7.O(
Cutler-Lot 70, Philhn trt.. ....... l.6i
John S. See, Silas M. See, Joseph w.
See, Mary A. Nicholson, L. E.
OConnel, Sarah j. Mcdonald to
M. l.. McLeod-Lots 10 to 90, blk.
49,. Sessions Add to Whittier. -. I,O(
Emelia A. Steele, James d. Steele to
Martha j. Jones-Part Sec. Is,
S, TO-. Loo
Martha J. Jones, G.. G. Jones to i. A,
Steele-Lot 5, Mitchell trt. 500. l.0(
Twenty-six transfers under $1,000,
eight OF which were nominal. -. 7,ls
Total SlQ ar
The herald., 1898-11-08
California Fruit Sales

NEW YORK, Nov. 7.-Earl Fruit COM
pany's California fruit sales:
Grapes-Tokay, 1.30Ql 80; double crates,
2.65gs9oi Cornichon. 1.55@1s5; double
Pears-Wfnter Nellis, 1.2O@2DO; Easter
Beurre, 2.15Q2.50.
The herald., 1898-11-08
oS ANGELES HERALD. TUESDAY MORNING. NOVEMBER g. 1895

do. seconds, 1s@2Oc; fancy dairy nominal;
seconds, 1G319c; picked, 19Q21c.
Poultry-Turkey gobblers, 150D16c per lb
old roosters, 425Ql4.50 dozen: young roost-
ers, .4.boQ5. co. small broilerss s5o@4.00; large
A00QB5. co. old ducks. 4.0015.00; geese l.25lt
| l.5O pair; old pigeons. lbs; young pigeons.
I B0EI2 M
The herald., 1898-11-08
Kansas City Live Stock

KANSAS CITY, Mo-, Nov. 7.-Cattle-
Receipts, 1000; best strong; others about
steady. Native steers, 4.25d5.25; Texas
steers, 2.4OQD4.8O; Texas COWS, 1902. 90; ma
tive cows and heifers, l;Soaa.25; stockers
and feeders, 1.30g4.25; bulls, 2.25Q35o.
lambs, 3.75QI5. Is; muttons, 3.00Q4.40.
The herald., 1898-11-08
Silver Bullion

SAN FRANCISCO. Nov. 7-Bar silver
60Ac: Mexican dollars 47A@47Nc.
NEW YORK, Nov. 7.-Bar silver, 60Nc
Mexican dollars, 471ac.
LONDON. Nov. 7-Bar silver, % 3-16d.
The herald., 1898-11-08
Dried Fruit Prices

NEW YORK, Nov. 7.-California dried
fruits steady.
Evaporated apples-Common, 7@Sc per
pound. prime wire tray, 7M@7Ac; choice,
7a4QtSc; fancy, 8Hc.
Prunes-5A d9Ac.
Apricots-Royal, 11@14c; Moorpark, 13Q
tic.
Peaches-Unpeeled. sh911c; peeled, 1s0
on
The herald., 1898-11-08
Petroleum
Local Quotations

OH. CITY, Nov. 7.--Credit balances, LIS;
certificates, no bids and no sales.
The herald., 1898-11-08
Closing Stocks

NEW YORK, Nov. 7.--Following are
the closing prices of stocks on the New
York stock exchange today:
The herald., 1898-11-08
.$55,995
Releases, $1,000 and Over

Daily Statement.)
J. N. Brinkerhoff to j. Lodge, 5O5-244$ 2,25O
J. Guess to c. j. Gedley, 5Sl-l. $50. 1000
NJ. II. Maltbie to y. A. Cole, 534-l23 1000
T. A. Reed to W. S. Holland, 35O-3O0 1900
a. +. Bleecker to =. G. Post, 50S-l44.. 1900
Nine releases under $1,000. .......... 4,3O0
The herald., 1898-11-08
Transfers, $1,000 and, Over

Total ...........................sl2 .sl2
Twice-a-week plain dealer. (Cresco, Howard County, Iowa) 1895-1913, 1898-12-13
TRAINS COLLIDE,
Bad smash-Up on Northwestern hoaa
Near Menominee, Mich.-
No Fatnlities.

Menominee, Mich, Dec. IL. The
south-bound and north-bound passen'
ger trains on the Chicago d North
western collided head-on at eight
o'clock a. M, hundred feet from the
Menominee iron bridge. The north
bound train, which was two hours late,
had baggage and mail cars two day
coaches and a sleeper, and carried Is
people. The engines were badly
smashed and the tender of the north
bound train was covered by the bag
gage car. A number of the passengers
were slightly hurt, and some women
tainted. d. Hanrahan, fireman OF the
north-bound train, was badly injured
and had to be cut out Of the wreck. En-
eineer Michael Killian, of the south
bound train, was badly injured abou
the head. Both trains were running
at the same speed and they sustained
about equal damage.
Twice-a-week plain dealer. (Cresco, Howard County, Iowa) 1895-1913, 1898-12-13
WILL PASS RAILROAD BILL
Gov. Leedy, of Kansas, to Call Special
Session of Legislature mt Re-
quest of Populists.

Topeka, Kan, Dec. 12.-Ihose who
claim to know say that Gov. Leedy will
call special session of the legislature
when he returns from his home at
Lawrence some time next week. The
date for The session has not been deli
nitely decided on, but it is expected
that it will be December 10. Gov. Leedy
for some time past has been besieged
by large number ofsold-line populists
10 call an extra session before he went
out of Office for the purpose of passing
q railway bill. He consented to do SO
providing he could secure pledges from
q sufficient number of the members to
pass a bill if an extra session was called.
Thus far 60 of the populist members
of the house have signed the pledge.
There are already enough pledged in
the senate. Sixty hrce are required in
the house, and it is expected that from
three to five more will be received by
the middle of next week.
Twice-a-week plain dealer. (Cresco, Howard County, Iowa) 1895-1913, 1898-12-13
TO STRENGTHEN DEWEY.
This liz Done In Order to Carry Out
the Presidents Policy In the
Philippines.

Washington, Dec. ~. = Admiral
Dewey's feet will be strengthened
shortly by the addition of some serv-
iceable gunboats. The Bennington,
now at Honolulu, has been ordered to
proceed to Guam, in the Ladrone group,
and make survey of the harbor, with
view to the establishment there OF
naval station. This done she will
join Dewey's fleet. By that time, or
before, the Helena will have arrived ut
Manila and the Concord and the Petrol.
now cruising around in Chinese wa
tiers, will have returned, and altogether
the admiral will have a sufficient force
of small vessels under his command to
carry out the presidents policy re-
specting the Philippines, and to bring
into submission any of the islanders
who may prove refractory, and to re-
lease any Spanish prisoners held in
confinement by the insurgents. The
navy department is now convinced that
it will not be practicable to carry out
project it entertained at one time
looking to the reduction Of the United
States naval force on the Asiatic sta
ton, and has settled down to the con-
yiction that the feet must rather be
considerably reinforced if the attempt
ia to be made to maintain law and
order in the 1900 Philippine islands
and still afford proper protection to
the important interests of the United
States along the great Asiatic coast
line. The combined naval forces OF
Great Britain and the United States in
these waters will largely exceed those
of any other two nations in that quar-
| ter of the world.
Twice-a-week plain dealer. (Cresco, Howard County, Iowa) 1895-1913, 1898-12-13

trial he expressed to the court desire
to dispose of the case during his official
term of office.
The delay occasioned by the action OF
the supreme court will also in all proba-
bility have the effect of carrying the
proceedings, or at least the conclusion
of the trial, beyond the date for cleo
ton by the legislature of United
states senator to succeed Senator Quay,
who is a candidate for reelection. The
legislature will vote for senator on jar
uary II.
The defendants are charged with con-
spiracy with John S. Hopkins, the
cashier of the Peoples bank of this
city, who committed suicide in March
last, in the misuse of state funds on de-
post in that institution.
The senator and his attorneys do
net hesitate to admit that their OBJ
iect in securing delay for the trial is to
lake the case out of the hands of Dis
trict Attorney Graham. Mr.. Graham
they say, is an enemy of the senator
and has displayed great eagerness in
uniustly prosecuting him and his Co
| defendants.
Twice-a-week plain dealer. (Cresco, Howard County, Iowa) 1895-1913, 1898-12-13
MATT QUAY WINS POINT
Hns His Case Transferred to Su-
preme Court and Secures De-
lay Until January 2.
he GAINS TWO ADVANTAGES THEREBY.
Term of once of District Attorney
Graham Exptres with Present Year.
and Trial Will Be Carried Beyond
Date for Election of United States
Senator, January II.

Philadelphia, Dec. 12-Supreme Court
Justices Green and Williams Saturday
granted rule allowing the defend
ants in the Quay conspiracy case to
argue petition for writ of certiorari,
removing the proceedings from the
court of quarter sessions to the supreme
court. The rule is returnable January
z, and all proceedings are stayed in the
meantime.
The defendants in the case are Sen
a,or NJ. S. Quay, his son, Richard r.
Quay, and ex-State Treasurer Ben
]. Haywood. The trial had been fixed
to begin in the court of quarter ses-
sions here on Monday.
One of the results of the rule granted
by the supreme court will be to carry
the trial over beyond the term of office
of District Attorney Graham, which
will expire with the present year. Mr..
Graham has been active in pushing the
case, and in asking the court a week or
ten days ago to fix an early date for the
Twice-a-week plain dealer. (Cresco, Howard County, Iowa) 1895-1913, 1898-12-13
TO GUARD NAVAL AFFAIRS.
Action Taken by Secretary Long to
withhold Informa ton Concerning
Our Navy from Foreign Nations.

Washington, Dec. 12.-Action has
been taken by Secretary Long to with
hold information concerning American
naval affairs from foreign govern
lnents. A regulation has been issued
announcing that formal official in
formation for attaches and other for
cign officials in Washington or abroad
will be furnished through the bureau OF
navigation by the office of naval intel
ligence."
This regulation is due largely to the
refusal Of foreign governments to give
10 American officers information which
they seek. Hitherto the authorities
have been very open with foreign at
taches, but in the future it is likely
the secrecy which exists abroad will
| be followed here.
Twice-a-week plain dealer. (Cresco, Howard County, Iowa) 1895-1913, 1898-12-13
SOCIETY IN DAWSON CITY.
Nugget. Of News Fresh from the
Fashionable Center Of the
Trapped North.

Dawson City society decided that it
has been too long neglected, and Mr..
Rickety Jim sends me some nuggets of
news from the greatest gold camp in
the world.
Miss Mulvaney, millionairess, the
hostess of the three-story fashionable
Hotel Fairview-formerly the steward
ess in the Queens hotel-weighs out
eight dollars a day for lodgings Gu
ropean plan), then joins in the ger
man, or other dance, with Niger Joe
and Alec Mcdonald. the kings of the
Klondike, like real lady.
Whisky, to which you are expected
to treat your partner at a swell as
eembly, is only one dollar, che-cha-ker
money, glass.
When such dudes as Lew Cooper, Yu.
kon Bill and Curly Munroe take the
floor and politely scatter the refresh
ments, the orchestra plays "A Hot
Time To- Night" so fast that the fiddles
take fire from the friction and the horn
seems to be blown by cyclone.
DIR. j. P. BLANC left on the steamer
Fulva with mis- pile, for a winter in De-
troit, New York, Paris and London.
The new and elegantly furnished bar,
at the Warden, has been opened with
social ceremonies, and the city was
very quiet the next day.
Diamond Tooth Maria, the 100000
beauty, sang and kicked her way into
the hearts of the miners, who threw
gold dust on the platform until the
beauty was invisible, and then opened
champagne at two ounces (sas) pint
to lay the dust.
| Mr.. z. C. De Pole has come down thu
trail badly injured, as heap of gole
fell on him while he was packing 1t fol
transportation.-Town Topics.
Twice-a-week plain dealer. (Cresco, Howard County, Iowa) 1895-1913, 1898-12-13
Wales Expects to Come Over for the Yacht Races.

woods cutting wood and Hitchings
splitting it, when the latter struck
Hunt with his ak, killing him instant
ly. Hayward started to run, but fell
and was struck by Hitchings while ly-
ing on the ground, also killing him in
stantly Hitchings then went to the
house and killed Mrs. Hunt by stabbing
her in the neck with jackknife.
After killing Mrs. Hunt, Hitchings
went upstairs and cut his own throat
from ear to ear and must have died at
once from the way blood is splashed
about the room.
Twice-a-week plain dealer. (Cresco, Howard County, Iowa) 1895-1913, 1898-12-13
Found Dead in New Orleans.

New Orleans, Dec. 1.-THE body Of
white man supposed to be G. Beamish,
of New York, was found in gutter
near the New Orleans abattoir works
Saturday morning. He had died OF ex-
posure. On the body was found an
identification badge engraved as fol-
lows: &C. Beamish, 33e West Fifty
ninth street, New York." and tag
of the firm of William A. Wood & Co.,
butchers of Philadelphia. On the re-
verse of the tag was written Melchia
Meyers, $50 Forty-eighth street, West
Philadelphia. The man was about 40
wears of age
Twice-a-week plain dealer. (Cresco, Howard County, Iowa) 1895-1913, 1898-12-13
can,t Meet Il. obltgation..

New Orleans, Dec. 12.-The German
American debenture, another of the
concerns promoted by Jasper w. Ross,
who left the city just prior to the col
lapse of the Metropolitan Bond and
Looming association, is in a bad way.
Saturday was the day for payments to
subscribers, but the concern was un-
able to meet its obligations. A large
crowd of indignant holders of shares
crowded into the offices and blocked
the Carondelet street sidewalk, clamor-
ing for their money. Chief of Police
CASTOR had to send squad of police
in prevent trouble.
Twice-a-week plain dealer. (Cresco, Howard County, Iowa) 1895-1913, 1898-12-13
robncco Trust ORGANIZED.

Trenton, N. j., Dec. 12-Articles of
incorporation of the Continental To-
bacco company were filed with the sec
rotary of state in this city Saturday.
The capital sto. k is S75,o0o,ooo, one-half
OF which is to be preferred, with seven
per cent. noncumulative dividends, pay
able quarterly. The company is au-
thorized to cure leaf tobacco and to
manufacture tobacco in all its Forms,
Twice-a-week plain dealer. (Cresco, Howard County, Iowa) 1895-1913, 1898-12-13
SITUATION MOST CRITICAL.
Resignation of the Spanish Ministry
Expected as Soon as Treaty of
Peace Is Signed.

London, Dec. PA special dispatch
from Madrid says the position of the
cabinet is most critical and that the
resignation of the ministry is expected
as soon as the treaty of peace is signed.
In commercial circles, it is added,
the fall of the cabinet has been dis
counted, as shown by the dull state Of
business and the heavy taxation.
Twice-a-week plain dealer. (Cresco, Howard County, Iowa) 1895-1913, 1898-12-13
Instruction of the Young.

Milwaukee, Dec. 12.-The delegates
TO the American Ethical union conven-
ton listened to n general discussion
on the subject, Methods of Moral In
struction for the Young" DR.. John
L. Elliott read the most important pa
per, relating how the work of instruc-
ton was carried on at Hudson Guild, in
New York city.