davidaulloa/AmericanStories huggingface dataset:
The herald., 1898-07-23
CHICAGO MARKET
Prices and Prospects Of the Trade In
Cereals

CHICAGO, July 22.-Wheat started a
tritie higher and light on Argentine ship
ments and the slow movement of the new
crop. The Liverpool market showed little
change which, considering the weakness
here Yesterday was deemed encouraging
Strength in corn and firmness of spot wheat
sustained the speculative wheat features
for awhile, Later however, the general
weakness abroad and the near approach
of new wheat deliveries in Europe started
some selling here. This resulted in steady
decline until the early advance was more
than lost. Receipts at Chicago were sixty
cars The total of the primary western re-
ceipts was 427 600 bushels. Exports from the
Atlantic ports were equal in wheat and
-four to 151 900 bushels. Minneapolis and
Duluth stocks of wheat were estimated tC
show a decrease for the week of l, 400, OOt
bushels and the visible increased 70S, 900
bushels. September opened b of cent
higher. at 677s to 6S cents; rose to 6SA, then
reacted to 671s at the close. December
started Y to q UP at 67ss to 67%, advanced to
67M; fell off to 671s, then rallied to STA asked
the closing prices.
The non-appearance of the rains thai
were predicted, together with a cleal
weather forecast for the next thirty-six
hours strengthened corn.
Oats were strong on good buying by prom.
nent shorts and the strength in corn. Pro-
visions firmed up early on large reported
cash sales. Prices declined later on com
mission house selling of lard and ribs.
The herald., 1898-07-23
A Builders Experience.
4 USEFUL LIFE Renewed
ina REMARKABLE MANNER.
Udney r. Wilson Was Near Deaths BeeF. Dseiess
Failed to Help MIN nsme Remedy Sue.
eeeded in Saving His Life. = a.

Udney 2. Wilson, contractor and builder,
living in Detroit, Mich, at 81 High Street,
West, said regarding DR.. Williams Pink
Pills for Pale People: "For years l have
been out of doors in all kinds Of bad weather,
looking after my building contracts. l have
worked many days in the rain and cold to
complete some building. About two years
ago noticed could not get around as l
should, and commenced to have severe pain
in my back. tried the usual remedies with
out getting any relief and for nearly year I
suffered intensely. I kept up as long as l
could, as l had several contracts for buildings
that had to be completed.
cat night could not sleep. My physi-
clan said it was my kidneys, and every day
l went out doors they would keep me awake
nearly all the following night. Instead of
getting better / became worse, and worried
great deal about my work. The doctor
said l must quit work and 90 to bed, or he
would not be responsible for my life.
"All the medicines took only helped
me temporarily. Some days I would feel
better and go out day only to be again con-
fined to my bed for weeks at time. One
day my wife suggested that | try DR.. vii.
liams' Pink Pills for Pale People, and
laughed at the idea.
aFinally when got into such condition
that I would take almost anything in the
hope Of relief, tried the pills They helped
me from the start, but would not acknowl'
edge II and said it was the other medicines
that had lust commenced to work. disliked
The herald., 1898-07-23

choice, 1271zdL 321a; fancy feed. 1.35Q1. 37A;
gray, 1.25@1.Nlk; milling. 1aogf.s5; surprise
Bariey-Feed. 1.nM@1.221s per GENITAL
brewing, nominal.
Receipts-Flour, quarter sacks, ID, s64
barley, centals, 435; potatoes, sacks, 1850
onions, sacks, 7T; bran. sacks, ~; mid
dlings. sacks, 600; hay, tons, 793; straw
tons, 49, hops, bales, Is; wool, bales, 2o2
hides, number, los; quicksilver, TASKS, l0
wine. gallons. 1920.
Observation-Disclosures. 1s.5o92l5o per ton
Hay-Wheat. I7.O00719.00; wheat and oat
17.5O@1S.5O; alfalfa, 1250M14.00
Dry Beans-Plnk. 2.50G2.6O per GENITAL.
small white, 1.SOp1.95.
egetables-Onions. 65dsoc per Genital
green peas, 200d2.5O per sack; tomatoes
lu1kc per lb.: rhubarb. 50@7sc; squash
SOC basket; plums, 40Ql75c; peaches, 75c@1.O
| 35ff45c per box.
G125 per box; strawberries. TOO pei
chest; gooseberries 1@1zc: cherries: black
40G50c; white aud red. 15@30c: cherries, 300
50475c per box: nutmegs. 200R2.50.
Mexican lines, repack. tO96.0o; commor
California lemons, =; choice, l-50Qz0o
box; canteloupes, 500 per crate; peaches
bananas, 1.0O02.00.
do seconds. 19c; fancy dairy, 17lsc; do
EggsLstore, 12ha15c per dozen; fancy
Poultry-Turkey gobblers, 14G15c per lb.
ers, $500 90; small broilers, 2:0o@2;5o; large
| broilers, 3.000350; fryers. 3.5Od400; hen!
| 100000; old ducks. 3O0g3.25; geese, 75cq
| 35Odp50O; old ducks, 300G3.25; geese, 7ocQ
| LOO pair; old pigeons, LIS; young pigeons
The herald., 1898-07-23
New Bonds and Circulation

To what extent bonds issued to secure
the new three per cent war revenue loan
will find their way into the national banks
will be soon ascertained, it is claimed by the
increase In bank circulation. In this con-
nection the New York Financier, an emil
nent authority, gives its views which are
worth consideration. 1t says:
Granting that large percentage Of the
new three per cent. bonds will find their
way eventually into banks, 1t is still doubt
full whether circulation will be taken out
against them to the extent predicted. OF
course II bank lis able to secure consld-
cradle amount of the new threes, there will
be good profit in exchanging them for
outstanding tours, on which by far the
largest portion of the present national bank
notes are based, but even here the original
cost price of the tours and the price paid
for the three per cent. securities will have
to be made the subject of careful calucula-
ton. If a bank can find market for its four
per cents. at ruling quotations Of about 1874
on 125, and can substitute for circulation
three per cents at par there will be every
Involvement to make the change. The profit
of money actually invested in circulation
on four per cent. bond at 125 Is about ~
per cent, while the profit on the same
fund, based on three per cent. bond at par
Is 20 per cent. But If, as anticipated, banks
are forced to pay a premium on the threes,
this extra profit will quickly disappear.
Just where the bonds bearing different In
terest rates meet on a parity in this respect,
has not been figured exactly. AS the in
terest returns approach each other the
profit also tends to equalize but the differ
ence In the amount necessary to secure a
given, 100000 Of circulation must also be
taken Into consideration. Thus, at pres
ent quotations on four per cent bonds. an
investment Of $125 900 Is necessary to secure
$4,000 of circulation. At par only 500 900
Of three per cent. bonds Is required for the
same circulation. A premium on the latter
bonds, however, will require sinking fund
and Will also require a larger amount of
money for the first investment Perhaps
the best way to figure the result would be
The herald., 1898-07-23
The COUNTY BONDS
NEGLECT TO PROVIDE NECESsA-
BY SINKING FUND
AMOUNT OF THE DEFICIENCY
How the New Three Per Cents May
Affect National Bank Circulation,
Views of the Financier
OFFICE OF THE HERALD.
Los Angeles, July %, is!

Los Angeles, July 90 1895
When the county tax levy was made last
year no provision was made by the board
td supervisors for the payment of INSTALL
nents on the bonded Indebtedness as Is
required by law.
The board expected, it appears, that the
refunding proposition which was to go be-
fore the people for their approval would
assuredly carry.
But this proposition, made as it was In
the interest of capitalists who had money
to loan on forty-year bonds, was decisive
ly showed under at the polls, In conse-
quence of the active measures that were
taken to inform the public of the true ma
ture of the proposed change.
Had former boards performed their plain
duty under the statute the existing bonded
indebtedness of the county would have
been largely reduced.
The intention of the law was to make the
payments of bonds easier by providing a
sinking fund, and the board of supervisors
Is required to levy each year a sufficient
sum to pay the interest on outstanding
bonds issued In conformity with the pro-
visions of the act, accruing before the
next annual levy, and such proportion of
the principal, that, at the end of five years,
the sum raised from such levies shall equal
at least 20 per cent Of the amount of bonds
issued; at the end of nine years at least
40 per cent of the amount and at and be-
fore the date of maturity of the bonds
shall be equal to the whole amount of
principal and interest.
The manner in which the plain provi-
sons of the law have been disregarded
will best be gathered from perusal of
the subjoined official statement of County
Treasurer T. ]. Fleming which shows the
total amount of the various issues of Los
Angeles county bonds that were unpaid on
September /, 1898; the amounts that had
been actually redeemed by that date and
the amounts that should have been re-
deemed by that date under the provisions
of the acts under which these bonds were
issued: De-.
The herald., 1898-07-23

to own up that Dr.. williams' Pink PMS
helped me, as / had no confidence in them.
When l could not carry on the imposition
any farther, I told my wife that the pills
were helping me. / took three boxes before
/ was entirely cured, and We now keep them
In the house all the time.
az am not prepared to say that Dr.. Viii.
liams' Pink Pills for Pale People will cure
everything, but knew they will cure kidney
troubles and general muscular weakness, a.
they cured me.
~ now recommend them to everyone IN
my neighborhood, where l formerly made
sport of all proprietary remedies"
Subscribed and sworn to before me, a Not
airy Public, this fourth day of March, 1897.
ROBERT E. HULL, JR., Notary Pubic,
Wayne County, Michigan.
An analysis of DR.. Williams Pink Pills for
Pale People shows that they contain, in con-
deused form all the elements necessary to give
new life and richness to the blood and restore
shattered nerves. They are an unfailing spe-
cifc for such diseases as locomotor ataxia par
tial paralysis st. Vitus dance, sciatica, neural.
gia, rheumatism, nervous headache. the after
effects of Ia grippe, palpitation OF the heart,
pale and sallov compilations oil forms q
weakness either in male or female, and oil
diseases resulting from vitiated humors in the
blood. Pink Pills are sold by all dealers, OF
will be sent post paid on receipt Of price, 5c
| cents box, or six boxes for s2.50-(they ara
never sold in bulk ypr by the 1907 by address.
! ing DR.. Williams Medicine Company. Soho
rectcdv N. v
The herald., 1898-07-23
CONDUCTED BY 0Eo. 4 poBIMsoS

to assume that bank, having sold 800 900
four per cent. bonds at l25, wishes to re-
place with the United States treasurer an
equal amount, or to take out as much cir
culation as the same amount, invested IN
three per cents, Will secure. If the Si25 =
900 can be invested in new bonds at par. the
bank can take out s112,5OO of circulation.
The amount of money actuary invested, is
therefore, 1880 and lie return will be the
sioss interest," on cne bonds. less the taxes,
ele'' wiich latter approximate $3.50. The
ne' @rcid, therefore. will be the $3.50 In
eerest on the bonds, less this expense of
81 ,25O, or $500, which rs 20 per cent. on the
sum invested. But If the bank pays 104 or
whereabouts for its new bonds, 1t can buy,
say, 100000 OF bonds. on which it can issue
only $10S.0O0 circulation. The yield on the
money actually invested becomes the differ
ence between the interest on the bonds
s.. 6O0-less the expenses and sinking fund
to meet the premium. The expenses. count
ing tax, would be something like 81 200, plus
the sinking fund, invested from year to
year (on twenty year bond), at fair rate
of interest Assuming the sinking fund to
be 800 annually, which is only approx
mately correct, we have gross expense OF
81 300 and net income of $500. or 1872 per
cent. on the $1,000 invested. These hgures,
as stated, are only given approximately,
but the real results would not differ widely
from them. If bank had secured its orig
inal bonds at a lower price than 125. the
profit naturally would be larger than fig
ured, but this is calculation of different
nature. AS between the two classes or
bonds there is probably inducement enough
to bring about a substitution of one for the
other at a reasonable price but with the
money of the country already redundant,
it is not likely that national bank note cir
culation will expand as rapidly as has been
nredicted.
The herald., 1898-07-23
California Fruit Sales

NEW YORK, July 22.-California frui
sales
Plums-Eureka. 800 single crates; Wick
son, 1.7O42.60 Eggs, 1.OOM1.50; Columbia
1.35; P. DIS, G5c@1.35; Diamond. S0cM1.35
Burbanks, 1.34; Washingtons. 75cM1.2O
Bradshaws. 1.15; Satsumas. soc; Peach, 1Oc
Abundance, Goo.
Pears-Bartletts, 1.65m2.20 box.
Prunes-Tragedys 70cM1.25 single crate
German. 75c@L15.
Grapes-Fontainblea 100 single crate.
Peaches--Early Crawford, 75c@1.00 box
Fosters, SOM95c; st. Johns, SOC; Deckers
S0@95c: Hales Earlys, Toe.
Sixteen cars sold.
CHICAGO, July 22.-California fruit solo
today:
Pears-Bartletts, 1.5001.65 box.
Grapes-Fontainbe 45c@1.75 single
crate.
Plums-Wicksons 7Oc@1.eO single crate
Burbanks. 1.00d1.35; Quackenboss, 1.15Q
1.@: P. DIS, S5cM1.25; Washingtons, 95cG
LID; Egg, 1G5Q1 10: other varieties. 55c@1. 05
Prunes-Tragedys, 90cQI35 single crate
Silver, Los; German. 100.
Nectarines, LIS single crate.
Peaches. Early Crawfords, 45QS5c box
Fosters 70GSOc; Deckers, zoe.
Five cars sold
The herald., 1898-07-23
ON CHANGE
Conditions as Shown by transactions
on Wall Street

NEW YORK, July 22.-The stock market
continued in the hands of the small room
traders today who dealt mostly in indus
trial specialties. They advanced the prices
of these early and this held UP the standard
railroad stocks. Realizing in the special
ties later in the day caused a sympathetic
decline in the railroads carrying prices in
many cases slightly below yesterdays close.
Except where stocks were Influenced by
Individual cases, the total change in prices
was narrow and without significance. The
dizziness may be quite equally interpreted
as indicat ting disinclination to buy at the
present level or as an unwillingness to sell.
The future of the international trade situa-
ton Is still so obscure that spectators are
not ready to commit themselves. Very lit
tie light was thrown on the probabilities
by the days grain markets which were not
very active and were hesitating IN tone.
There was a weakness in the continental
grain markets and there was selling for
foreign account, indicating the opinion that
foreign crops as well as our own are likely
to yield largely. There were evidences of
a pressure Of funds seeking investment, but
they manifested themselves in bonds rather
than in stocks. The large demand for the
new government bonds which were traded
in on the stock exchange "when issued
had a favorable sympathetic effect all
through the market. This bond sold up to
lO4as, the last sale being at that figure. Bids
were for small as well as for full share lots
Of $1,000. The advance in other government
bonds was called sympathetic. The ad
vantages Of the new issue for purposes of
circulation make a keen demand for them
from the banks though the present pros
pectve cheapness of money tended to d.
minish their value for this purpose.
Railroad mortgages were absorbed on; d
large scale today. The we'll secured bonds
of reorganized roads whose value under
reorganization has been clearly fixed were
the favorites There was also demand for
the more speculative issues Of the roads
still to be reorganized, or whose payments
of interest are contingent on earnings. The
plenitude of money also found reflection in
Wall street in talk of syndicates preparing
for financial ventures in Eastern Cuba.
Time loans were made for six months at
the rate of per cent and sterling exchange
continued heavy under offering of grain
bills.
London also bought stocks here in spite
of a stiffening of the London discount In
sympathy with the fall of London exchange
here.
United States seconds advanced I: the
The herald., 1898-07-23

Of manipulation for higher prices. Current
earnings have also made favorable COM
PARSONS with the result of last year which
tends to check active speculation in rail-
road properties, though it is understood
that preparations are being made for active
traffic on large scale as soon as the pres
ent crops begin to move. While the feeling
of the professional element which at pres
emit monopolizes the market is bearish for
the moment there is an underlying senti-
ment to the effect that prices are likely to
improve in the future.
The herald., 1898-07-23
Interpretations

Hilsdale Distilleries Company, San Fran
cisco. $50 900: subscribed, 5000.
Brescia Mining Company, San Francisco,
s191 $50; subscribed, $4,250
Lockeford Creamery Company, Locke
ford, S., 600; subscribed, $l,OS0.
Ivanpah Smelling Company, Los Angeles;
directors. r. r. Kellman, G. d. Copeland,
B. W. Warrington. ]. d. Hamburg and T..
NJ Loop, all of Los Angeles, $4,000; sub
scribed, $500.
City Abstract Company, San Francisco,
800 900; subscribed. $4,000.
Munson & Lohry. wholesale and retail
butcher business, Alameda county, $4,000;
all subscribed.
The Los Angeles Bargain Co., Los An
geles. 5000, divided into 800 shares of ten
dollars each. Business, dealing in general
merchandise, stocks, bonds and real estate.
r. w. Wood and ]. D. Martin are the
principal stockholders
The herald., 1898-07-23

The large deficiency shown above should
be provided for as far as practicable by the
board of supervisors in their next annual
levy if the members desire to carry out
their sworn obligations In former times
the provision for the sinking fund was de-
liberately passed over on the ground that
It would make the levy too high to please
the people, and the burden of providing for
payment of the bonds was conveniently
shifted on to the shoulders of succeeding
officials.
1t will be seen that the neglect which ex-
listed in September, 1882 was par
TALLY remedied between that date
and September. 1897, the deficit being
reduced NSop But - last ,o, year ,or moth
cruing interest and the matter now de-
mands the action of the board of super
vsors to be shown in the levy soon to be
made.
The herald., 1898-07-23
London Markets

NEW YORK, July 22.-The Evening
Posts London financial cablegram says:
The statement by the Spanish minister OF
public works upon peace prospects, to-
gether with good railway dividend an
nouncements favorably affected all the
stock markets today. A sharp rise in Span
ish As on the Spanish minister's statement
also brought on buyers of Americans. The
market closed under the best, however. A
large amount of American bills was offered
here today to leave New York tomorrow.
New York Is asking for quotations on
American bills as far forward as October.
Gold was in strong demand for the cont-
nent and full Weighted sovereigns were
bought today for shipment to Russia. 1t
is believed that money rates have touched
bottom. 1t is rumored that the Transvaal
government has obtained loan of six mil
lion pounds at Berlin.
The herald., 1898-07-23
Money Market

NEW YORK. July 22.-Money on call,
steady at 11a@1A; last loan, " per cent.
Prime mercantile paper. 3la@4 per cent.
Sterling exchange. easy with actual bust
ness in bankers bills at 4.S5A04.S51s for de-
mand and at 4s4G4S4A for sixty days;
posted rates, 4.s5 and 1861; commercial
bills, 4S3A; silver certificates 591a: bar sill
yer. 59s4 Mexican dollars, 46; government
bonds. strong; state bonds dull; railroad
bonds. strong.
The herald., 1898-07-23
Transfers, $1,000 and Over

DAILY Statemento
w. McElroy to r. w. and T. S. Wads-
worth-Lot 8, bl. 5, L. A. HID. tracts 1850
Emma G. and j. A. Driffill to Adelaide
G. Caldwell-Part lot ., bl. *. Phil
Nps' add to Pomona. 4,5OO
c. b. Sutton ct al. to f. A. Sutton
Lot 20, bl. 49, Wolfskll Or. trt..... 1000
A. A. Libby Jr., ct al. to Lizzie P. Per-
kins-Lot 81. bl. b, re-plat of Thomas
& Wotkyns sub. of Fl. G. Bennett
T. Patterson ct al. to d. M. Jones'
Part lot SO, Bixby trt................ 1000
j. Gruber ct al. to A. G. Patrick
Lots Z, s and 10, bl. 200. Villa farm
lots Ro. San Vicente. 5000
Exrx. of exr of est. of Olivia Monroe.
decd, and Josephine Chaplin ct ais,
by T. Z. Rowan, referee, to H. Bohr-
mann-Iot 10, bl. A, and lot IL. bl.
B, Walsh Estate trt................. 1,O25
Twenty-Five transfers under $1,000, of
which six were nominal. 7,44O
IOtal .s..............sssss. @oS,ol
The herald., 1898-07-23
Kansas City Live Stock

KANSAS CITY, July 22.-Cattle-Re-
ceipts, 1000; market steady to strong; ma
tive steers, 3.4O@5.25; Texas steers, 3.25@4.70;
Texas COWS, 2.95d3.75; native cows and
.,eif .rs, 15vl4S5; stockers and feeders
3.O00p465; bulls, 2.75M4.50.
Sheep-Receipts, 100; market firm; lambs
2.G5G6.0O; muttons, 2.5O44.25.
The herald., 1898-07-23
Dried Fruit Prices

NEW YORK, July 22.-California dried
fruits, quiet. Evaporated apples, common
case; prime wire trays, s1a@s%; choice
SA69c; fancy 91s. Prunes, 4QSc- Apricots
Royal. S1s@10; Moor Park, 10Q12 Peaches
unpeeled, 5QSc; peeled 126p16c.
The herald., 1898-07-23
SAN FRANCISCO MARKET
Call Board Dealings and Prices o
Produce

SAN FRANCISCO. July 22.-Wheat
steady; December, L27h.
No barley. tiiiIiI, 4
Noril-l.arge yellow. 1.121s11.15.
Brandt. 50G1650 per ton.
Flour 70 .-i'v extras, 4650475; bakers
extras, A40@4.50.
Wheat-Snipplng nominal at 1.s5@1.271s;
oats"Poof to fair, 1.2o@1.:5; good to
The herald., 1898-07-23
LOS ANGELES HERALD. SATURDAY MORNING. JULY "a, 1898

new registered, n; the old Is registered and
the new tours, coup, V and the IS, coup,
Y in the bid price.
Total sales. railroad bonds, par value,
4,645, 900.
The herald., 1898-07-23
Mortgages, $1,000 and Over
DAILY Statement.)

DAILY Statement)
Nellie M. and w. e. Dunn to ]. f.
Towen-Part lots 10 and II, Ellis trt-;
yr., 10 per cent. .....................$ 200
Melina A. Parker.to C.. H. Libby
Part blk. BID. by 4th, 5th. Hill and
Olive SITS; 3 yrs, 9 per cent.......... 1900
Six mortgages under $1,00 O............ 200
Total 81, 900
The herald., 1898-07-23

Issues of 1882 and 1884 were issued under
provisions of Chap. xxx, Stats 1881. and
issues of 1885. 1887. 1890 under Chap. LXXV.,
Sec. %, Sub. IA, Stats. 1888.
The herald., 1898-07-23
Silver Bullion

NEW YORK, July 22-Silver bars, 5SA
Mexican dollars, 461a@46s4; drafts, sight, 10
telegraph, 171e.
The herald., 1898-07-23
Releases, $1,000 and Over

DAILY Statement.)
I. Phillips to l.. l.. Bowen ct al, 37S-67.$ 1000
Addie r. Wheeler to w. McElroy
5sO-15s.... .............................. 1000
r. j. Mott, Sr., to E. c. Hampton,
5ss-51 ................................... $500
J. S. Calkins to Louise and G. f.
Mohn, 5s2-31. ........................ 1900
Adelaide G. Caldwell to Emma G. and
J. A. Driffill, 1851. ................... 1000
Kate C. McKinstry to Elizabeth c.
Mills, All -2Os. $500
A. G. Page to A. Gibbs, 423-102. ....... 119
w. Mead to B. L. Saurrett 56O-311.... 1000
Three releases under 81 900. ......... 1,102
Total ....................... SIG, S21
The herald., 1898-07-23
Closing Stocks

NEW YORK, July 22.-The following
are the closing prices on the New York
stock pyrhanua todnu
The herald., 1898-07-23
mo. 2491.)
REPORT OF THE CONDITION
of the
FIRST NATIONAL BANK
Of Los Angeles

At Los Angeles In the State Of California
at the close of business. July 18th, 1898
RESOURCES
The herald., 1898-07-23

Should
Actually

Amount not provided for up to Sept.
/, 1897. OBSERVATION-DISCLOSURES. $149,OOt