The herald., 1898-01-26
OFFICE oT THE HERALD,
Los Angeles, Jan. 25, 1897.

OFFICE OF THE HERALD.
Los Angeles, Jan. 25, 1897.
Wherever there is much putting there
Is little talent; and where everything is rec
commended as excellent there is scarcely
one thing entitled to that commendation."
Monday being d legal holiday there are
no real estate transactions of record for
that day, which accounts for the absence
from this column of the usual list of mort
cages and releases.
The Southern California Savings Bank
has paid a dividend of per cent to orr
binary depositors and from Az to per cent
to term depositors. Stockholders have re-
ceived six dollars per share for the past
year.
There is some qualification in the belief
that despite the klondike, mining will con-
. tinue leading industry in California, says
the San Francisco Newsletter. A great
many people have awakened or late TO
the fact that there Is gold to be found
within our borders. Even the merchants
of this city who worked so assiduously with
the anti-debrs clique to throttle hydraulic
mining for a space of ten years, at cost
to themselves OF over eighty millions OF
dollars, are prepared to admit now that
the industry Is worth fostering. This is
a step in advance, certainly, and for which
we can be devoutly thankful. Even the
''booming of Alaska mines for the sake
Of corraling the trade of the individual
laJ h,,i In TO yrppQ.
ing to risk his life. has not interfered In
any way with the work of development 60
ing on throughout the state, in small
way, 1t may be said, but all the safer for
that. There are chances now to get cheap
Investments. The Alaskan fever has pen
etrated some of the interior camps, and
men can be found ready as usual to throw
away a certainty for some uncertainty
with more glittering prospects. rms VIII
be the opportunity for men of more con-
servative ideas. Money will go farther here
than 1t does on the Yukon not to speak
of the difference in the mode and condi-
tions of life there and here. Last year
quite number of young mines were opened
UP in the northern counties of this state,
to a point of development where they are
now self-supporting. Legitimate mining
is now popular with the public. and no
doubt, when the last of the Klondike i'm
migrants take their departure for new
home in frozen wilds, we will have little
boom of our own to even matters up.
+ + +
The leading Chicago bond house of Far
son, Leach & Co. says in the Bond Buyer
as follows:
We have been having very spirited de-
mand for municipals since the turn OF the
year. Our clients are desirous of getting
haIr lie f,ttf 90 In Inf 1or
vestors are insisting upon a little better
rate of return than we are able to offer,
although in many cases putting their money
out at best rates obtainable. The sales
during the last few days by municipali-
ties would indicate that prices will remain
firm. The most notable sale was the $780,.
600 City of Cleveland As to one of our Chi
cago banks on 3.25 basis, an unprece
dented price for Cleveland bond, and eX-
actly the same rate as that received by
the City of Chicago. In both cases, how
ever, the successful bidder was several
thousand dollars over the next highest
bidder, so that the sale Is hardly a cri-
terion of the market Our New York Office
reports a heavy demand, and our jan
uary sales will undoubtedly break the rec
ord in amount. More bonds are coming
upon the market in the Eastern States just
now than in the West. The opening of
spring and good weather will bring about
the western country has been very
great that all public enterprises have
Jagged. Better times will see a great
change in municipal affairs.
= +
The appraisement of the Fair estate
throws some light upon the values of cer-
tain stocks, the quotations of which in pub
lie are rare. For example. Selby Smelt-
ing and Lead is quoted at $l45; Fulton
- 4
Works at $lSla, Mutual Savings Bank It
$32h, and the Pacific Rolling Mills at 50. !
Shares of the old Morgan mine, which
has been closed down for many years. are
valued at over 81 per share. The bulk of
the personally consists of railroad stocks
and bonds. Not a share of Comstock ap
pears on the list, although many people
believed or affected to believe, that the
Senator had more or less interest in the
mines up to the hour of his DEATH
4 + 4
John Wanamaker thus summaries the
grounds of his belief in life insurance as
business proposition: II was insurabe and
accident or ill-health might come at any
moment. when / would not be insurable.
Other reasons are that life insurance is
one of the best forms of investment be-
cause it gives, after one deposit an in
stant guarantee that may repay principal
and interest and more. Life insurance in
the long run is a saving fund that not only
saves and takes care of my deposits, but
takes ME into partnership, not infrequently
returning premiums with interest and
profit. Life insurance regarded from the
standpoint of quick termination is more
profitable than any other investment /
could make for my estate. 1t enables a
man to give away all he wishes during his
lifetime and still make such an estate as
he cares to leave.'
The returns of different fire insurance
companies just filed with the commits
sioner show that business on the coast |
was generally profitable for the past year.
The life companies also made large gains
during the year.
National Bank Changes
The latest bulletin of the comptroller of
the currency, dated Jan. II, 1898, gives the
following, among other changes:
Liquidation-The National Bank of the
Republic of Philadelphia Pennsylvania, by
resolution of its stockholders, dated JAN
l1,1S9S
The National Bank of Odessa, Missouri,
by resolution of its stockholders, dated
Jan. II, 1898.
Interpretations