The herald., 1898-01-16

at is never the opinions of others that
displease u.s. but the pertinacity they dis
play in obtruding them upon u.s."
The annual meeting Of the stockhold-
ers of the First National bank was held
on the 18th inst, and there was, as usual,
large attendance, nearly 30 per cent of
the stock being represented.
Mr.. Frederick H. Rindge Of Santa
Monica was chosen to preside. Presi-
dent Elliott presented the annual report
of the directors. the reading of which
was several times interrupted by mani
festations Of approval, and at its close
imously rendering the thanks of the
stockholders to the directors and officers
of the bank for their capable and sue
cessful management of its affairs during
the past year.
The report showed a gain during 1897
of nearly $1,000 in deposits and of over
$S0O.000 in bills receivable, and earnings
sufficient to pay the regular quarterly
dividends, pay all the expenses of chang
ing, enlarging and renting the banking
room. and also to make respectable
addition to undivided profits.
The election Of directors resulted In
the reelection of the former board, con-
sisting of Messrs. J. M. Elliott, John d.
Bicknell. John d. Hooker, H. Jevne,
VIM, G. Kerckhoff, w. c. Patterson and
F. @. Story, and the practical unanimity
of the vote was striking evidence Of the
esteem in which these gentlemen are
held. The usual scattering vote aggre-
gated less than per cent Of the total
vote cast.
The board subsequently organized by
the reelection of j. NJ. Elliott, presi-
dent; VIM. G. Kerckhoff, vice president,
and Frank A. Gibson, cashier. Mr.. G. 3.
Shaffer, for several years assistant
cashier, has suffered recently from i'll
health, and has taken the less arduous
duties Of receiving teller. The position
of assistant cashier was filled by the
election of w. T. S. Hammond, who has
been with the bank for nearly twelve
years, much of the time as paying teller
The bank commences the new year
under most favorable auspices and with
fiattering prospects Of continued pros
perity.
In it's article upon Municipal Bond
Sales" the New York Bond Buyer says:
The total bond sales for the month of
December, Just ended, were among the
largest of the year. aggregating $21 021.-
06O In only one month of 1897 was this
total exceeded, and then by only about
100000. The total sales for 1897 thus
foot up $163,332,254. The sales for 1897
exceeded those of 1896 by nearly s14,OO0.-
900, while the total issue Of original bonds
only 1888 In 1896.
The large output in December Is clear
ly to be attributed in part to the large
New, York and Boston sales and the
haste of various minor municipalities
about to be absorbed in New York to
issue local improvement bonds.
4 + 4
A striking illustration of the tenden-
cy to constant and measurable recur-
renee of certain phenomena, tendency
in many cases so marked and so cal
culable as to permit of an approach to
prediction as to the future, is to be
found in the statistics of estimated bank
clearings published two weeks ago in
Bradstreet's. The total estimated bank
clearings at seventy-two cities in the
United States, given two weeks ago,
amounted to $56, 1926, ,641, 900. Special tel
egraphic and mailed advices to Brad
streets last week put the total clear
ings at those seventy-two cities at $685.
q21, ,433, 1863, q difference from the esti-
mated total of little more than 81. 5.000,-
900, or less than one-eleventh of 1 per
cent. Naturally enough the percent
ages Of increase shown in the exhibit Of
two weeks ago are not materially
changed, the gain over year ago being
11.9 per cent, as against III per cent,
given two weeks ago. The total clear
ings at seventy-six cities for the month
aggregated $685., ,000, ,000 and for the
calendar year 1897 were $57, ,101, 1893, 1877,
gains of, respectively, 26.2 and 11.9 per
cent over last year, and the largest,
whether for the month or for the year,
since 1892.
~ 4 \ \
The Northern Pacific railways reports
gross earnings for the month of Decem-
ber, 1897, of $1,747,764. a gain of 21.6 per
cent over 1896. For the fiscal year the
total earnings amount to $13,352, 1852, a
, gain Of exactly the same percentage as
for the month of December.
+ 4 +
Announcement Of what is termed one
of the largest deals ever consum-
mated in this or any other country was
made last week. According to the pub
lished accounts, the deal was made by
Pittsburg man at London, England,
with the Cardiff Iron company Qimited)
for the earliest possible delivery of
100000 tons of Mesaba iron ore at the
docks in Cardiff.
Incorporation
The French Gulch Gold Dredging COM
pany, $I0O0.000. divided into 1,OOOO 900 shares:
s9600O0 subscribed. Directors: w. H. Bar
ry. J. Hickler, A Prenzlauer, s. w. Stone,
Pasadena, and w. Greer Campbell, Los