Los Angeles herald., 1905-08-20

! ruin me to pay dot money yoost now
while your credit is good. want yot
to loan dot money to me, for som,
months und I can then pay you easy.
And sure enough the money went
back to Yuma and Collier got It back II
due time and pulled his friend over a
pinch.
There was another money transac-
tion between two German American
citizens OF Los Angeles of that day
one had sent the other some money and
had a note for IT. When the time ot
payment came and the money had
been handed over the two friends were
deliberating as TO what to do with the
note, The lenGer frightened up at last
and said
"I'l keep the note, so ash I will know
dot der money was paid"
Sisters of Mercy Bank
There were no blnks in those days.
! | am going to mention a cirtumstant e
/ that will astound your readers. If there
were any fnanciers who discharged
any banking functions who, of all the
world, do you think they were? No less
than the Sisters of Mercy. Sister
Scholastica of pious memory was IN
/ The field to borrow all the money going
at three per cent a month, her notes
carrying thirty days notice. What
these pious women did with this money,
how they employed it to earn such
high interest has not come down to us
One thing the people of Los Angeles
do know and are obliged to take cog
nizance of is that the real estate in
vestments of the sisterhood have been
mighty sagacious.
The rates of interest which prevailed
in Los Angeles and all over Southern
California in those times were blood
curdling. Sister Scholastica was never
known to fail to come to the center,
principal and interest, in all her nu-
merous deals. AS to usury in Southern
California, III previous paper 1 have
mentioned Gov. John G. Downey's |
mortgage on Carpenters ranch, the
present site of Los Nietos, which car
ried ten per cent a month, compound |
ing monthly, which Is on record in tile
county court house and which may be
seen by anybody who is interested in
the curiosities of usury. There are said
to have been authenticated instances
in San Diego where Judge Witherbee,
Jim Mccoy and others have charged
as high as ten per cent a day-I am
not sure whether or not those Were
cases Of compounding daily-on focks
of sheep or bands of cattle whose own
ers were enamored of poker or some
other game of chance.
In Roeder's Day
When Roeder first came to Los An
geles he yielded to the delight of lend
ing money on the Nordholt property
on Les Angeles street. Shortly the
borrowers wanted more money, at a
less rate, and Andres Briswalter took
over the mortgage. Roeder was mar
ried in 1868 and went to live in a sma,
house which was then on the corner of
Main and Fourth street-where the
palatial new home of the Farmers G.
Merchants National bank now stands.
Sometime afterwards Mr. o. w. Childs
bought this lot, about go feet on Main
street for $780, Think of it, ye whose
ireams are distempered by visions of
'eal estate gains!
The Germans of those days not only
contributed an important element to
he industries and business of Los An
5eles, but largely to its amusements as
veil. They organized themselves into
/ singing society whose first meetings
we're at George Lehman's-Round
House Georges. They next located
themselves in quarters in Don Abel
Stearn's block in Los Angeles street
AZ they increased in numbers and !
means they built old Turner's hall on }
'pring street. They afterward sold this
,uilding to j. b. Lankershim. who q
moved it to Fifth street, near Haz
rd's pavilion, where it now stands,
his structure they replaced by the
handsome Turnverein Germania hall
N Main street.
Old Saengorbund
The old singing society comprised r
ood many musicians of merit, many +
f whom were forced TO leave Germany O
n account of their liberal opinions, p
,ften during the week, in the night "
jme. they would mount the old High II
chool hill. where the court house now Il
tands, and would pour out strains of 8
ocal and instrumental music. From +
ne member or another the proposal to Il
Grenade some citizen would be made h
"