The herald., 1898-03-23
OFFICE OF THE HERALD,
Los Angeles, Cal, March %, 1898.
would you know how to give? Put your
self In the place Of him who receives"


Los Angeles, CAL, March %, 1898.
would you know how to give? Put your
SELF In the place OF him who receives"
In an article in this column contained in
Yesterdays issue referring to the troubles
of the Bankers ALLIANCE policy holders, 1t
was stated that an assessment notice would
be sent out in day or two levying contri-
button towards the settlement of the num-
erous liabilities of the concern.
These notices are now ready to be mailed
and recite that assessment No. 80, being
receivers assessment No. l. for the
first quarter Of the tenth year of the asso-
citation has been levied by order of the
superior court. The circular says that
'the assessment is made on the basis Of
22h per cent of your contribution to the re-
serve fund for each policy If not paid on
or before April 20, 1893, your policy will
lapse without further notice."
The fact is also brought home to the no.
tice of the sufferer that this assessment is
'.for the purpose of paying the debts and
) liabilities of said Bankers Alliance" 1t
might have been added that there will be
more of such notices to follow.
The receiver gets from fifty to seventy
Ave letters day from all quarters and 1t
ls curious fact that some of these lettors
contain remittances from people who have
not heard of the failure of the association
and who fondly imagine they are keeping
their own policies alive. On finding out
the state of the case, they want their
money back, and threaten the receiver
with direful consequences for doing his
duty In holding on to the money that comes
in.
A promise on the part of an agent to In
sure property or the assumption on the
part of somebody that a promise has been
made, with no other voucher or evidence
but the agents word, Is not fire insurance
according to decision just handed down
by the Wisconsin supreme court: In the
case in question, says the Investigator. a
Jury brought In O verdict for the plaintiff,
sums sun % amounting % to over 5000, in the foi-
lowing companies: Scottish Union ana
National Caledonian and Continental.
Judgment was promptly entered and an
concerned, that body acted In accord with
the usual custom of the true and tried"
dozen in most any court-reaching the
acts OF its agents--and stopping there. The
status of the case In substance Is as fol-
lows: The PLAINTIFFS lumber plant at
= year ago. On the claim that no written
policy. had been issued at the time of the
nre, the defendant companies denied La
bility. The plaintIr claimed an oral con-
f991.S5 from the first named company, and
k249S.92 from the two last named compo-
hies. The plaintiff claimed that inasmuch
as 1t had made application to the insurance
companies agent for insurance, and that
the risk had been accepted by him, the
companies were bound by their agents
action, whether written policy had been
the plaintiff was justified In it's demands
but happily such an adjudication was
promptly turned topsy-turvey on appeal.
o O O
The annual meeting of the Commercial
Cable company and Postal Telegraph COM
pany was held in New York a few days ago,
eether with other officers, including John
w. Mackay as president. The annual re-
port Of the Commercial Gable company
ss e Of !eTsa S he preSoas
year. The Postal Telegraph company con-
tributed $645 ,1S5 net, making a total of ST.
H53l. After charges and dividends. $405, ,341
was carried over, making the total reserve
k2.60S,S29 There was added to the land
lines system during the year 932 miles of
hew pole line and 1866 miles of wire.
The exports of coal, coke, cinders and
fuel from the United Kingdom during JAM
nary reached q total Of 2, ,909, ,S09 tons, COM
pared with 2.76S,945 tons in January. 1897,
and 2,oSS,9SS tons in January, 1896. The
average value Of the coal exported in 1898
Is given at $217 per ton
o O o
Reports have been received of the gold
production of two more of the Australasian
tolonies for 1897. In New South Wales the
total output for the year was 292,2l7 crude
punces. equivalent at the stated values to
Bo6,26 fine ounces, or IS, ,296 ,943. This shows
, slight decrease, the reduction, however.
being only 2S01 fine ounces, or IL per cent,
es compared with 1896. The loss was less
than had been expected, as long continued
Drought interfered seriously with mining |
operations in several districts.
New Zealand also showed a decrease
In production Of gold. The total reported |
FOR 1897 was 251,6 crude ounces, equiva- |
lent to 2SO,7S2 fine ounces. or s. 770,256 This |
ls less than the output for 1895 by 65eS fine
ounces, or 27 per cent. There was no |
reduction In the activity of mining opera
tions, but some Of the larger mines in the |
Qtago and Hauraki districts produced less |
ment work was undertaken which reduced |
The output of ore for the time being, The |
yield from placer work and river dredging |
bhowed little change. New Zealand also |
reported some silver production, the total |
In 1897 being 181 ,160 fine ounces, the highest |
ever reported. The increase over 1896 was |
S6,S0S ounces, or S21 per cent
A very noticeable fact relative to the |
rush to the Klondike, says a correspondent |
Of the Mining and Engineering Journal, is |
the small proportion of practical miners |
from the western mining camps who have
toined the stampede up to the present time |
In truth, this may be called the stampede |
Of tenderfeet many of whom are direct |
from the cities and from walks in life |
little calculated to fit men for the hardships |
of an Arctic climate.
o O o
1t is generally accepted as fact be-
Hond cavil that the average savings bank /
depositor belongs to that class of people |
commonly termed the masses or more |
properly, manual laborers. Therefore, If |
the statistics of the New Jersey commits |
bioner of banking and insurance bearing
bn savings banks in that state are consid- |
cred, the conclusion is inevitable that the |
condition of the laboring man, at least In |
New Jersey, was materially improved in |
The year recently ended These figures
ehow that twenty-six savings banks of |
New Jersey increased their deposits last |
year from $41 635 SIT to $44 $50, GA The prog
ress Of the foregoing named institutions |
y paralleled by that Of the trust and safe /
deposit companies. There are twenty |
three such. institutions In the state, and
the increase Of deposits over those of 1896
was almost q per cent Finally, the re-
port states that the aggregate resources
Pm January l. 1893, of all of New Jerseys |
Danking institutions, not including ma
tional banks, were $S7 1877 ,72S, which, when /
compared with January /, 1897, shows an |
Increase of $S,443,S82. IN
Interpretations
Ill