Los Angeles herald., 1907-10-31

|
600, 900 and sell this stock--watereo,
to whoever will buy it. The trou,
| that 80 many fools are born every
| that will take piece of paper and pa,
their hoardings for it IL 1t looks pretty
| If 1t has a gold seal on 1t. They will be
bit once or twice and tnen they will
| leave 1t alone.
II have never got into that den of
thieves. 1 personally have never bought
| one dollars worth of stock of that kind
| I hope there Is no one here tonight that
ever has. If he has hope he lost on the
| first deal, and If he did not lose on the
first deal I hope he will on the second
| l hope he will lose, anyway. l was In
New York when this furry came along.
1 never knew there were SO many-yes,
gentlemen, am going to say word l
seldom use-I never knew there were so
many damned fools in America as there
are. never knew there were so many
towards in America. Just at rumor
| they will dash to the bank and draw out
their money, and one makes ten. The
whole of this country is built on conf
dence. The whole nation would be swept
away If it was not for confidence. Every
commercial institution is built upon con-
fidence. Do away with this and what
have you? Oblivion.
Air Full of Rumors
/ Inc dlT Is Iull VI IuilOlS niio tohSo7
what this man has done and this bank
| has done, and what / have been doing.
| daughter and applause). Thank God,
have not been doing the other man.
(Much laughter and applause). never
saw such a lot of crazy people in my life
as I saw during the furry. The air, as
I say, was full of excitement. People were
trembling with excitement. noticed the
crowd outside one bank. the Knicker-
booker Trust company, right across the
street from where / was staying, at the
| Waldorf-Astoria 1 think 1t took about
ten policemen there to keep the crowd
moving. You could not help but feel
sorry for them, widows with probably
4 their all in this bank. What was this
condition brought about by? The news
papers. One article as / read 1t one
morning said that certain banker made
| q statement that his bank was not clear
| ing for the Knickerbocker Trust COM
pany. The next morning there was a run
Of the Knickerbocker Trust company,
which started this furry.
| Then there was another one and an
other one and the furry was well under
way. wondered where would 1t end
| If the atmosphere saw around me there
| should extend throughout the country,
and thought naturally first of my home
city. Gentlemen, right here l want to
| tell you as l surveyed the past year
|
| banks of this city-I want to tell you
that you have in this city the brightest
| lot of bankers 1 have ever seen or heard
| of (applause). AS / look back and see
| how these home banks have managed
their affairs in the past year, how about
| a year ago they drew in little from out
side the wildcat, one might almost say,
real estate how they drew In more and
more until at the present time they have
| a large reserve, am compelled to pay
/ a tribute of appreciation. Today / do
not believe there is any city in the United
| States with any kind of population where
| the banks are in such good condition
| or in better condition than they are right
here In Los Angeles. You have here the
| smartest set of bankers in the United
States, as l have said. They are brilliant
men.
Foundation Strong Here
"There is NOT any city that know of
| where there is so little fear of any finan-
cial furry as right here in Los Angeles.
We are perfectly safe. With all this,
gentlemen, let me ask everyone of you
whenever you hear anyone speak about
| financial matters, enthuse. Tell them
there is absolutely no fear of the banks
of Los Angeles. do not believe there
| is one bank of which 1t cannot be said
that 1t is in a perfectly solvent condition
| tonight. OF course you must realize
| that IL everyone went to draw out de-
| posits there is not any bank in the coun-
| try could stand 1t, because bank makes
money through it's loans. The money is
| loaned out, or rather two-thirds of 1t is.
If you want to deposit your money In
| the bank and let it stay they give you
per cent. They have got to make 1t
bring at least per cent. Well, have
been away two months. have Travelled
pretty well over this country.
''I believe that everyone ought to go
away from home to find out how good
a home they have here in Los Angeles
There is not any better home in this
world that want than I have here in
this city. There is not any better city
There is not any better people that
have come across than there are right
here in Los Angeles (applause). believe,
| gentlemen, that today the men OF Los
| Angeles stand higher, take them as
| whole, than those of any other city
have been in. We may have things
| little different from what we would like
them We have not come to the age
| OF perfection yet, and do not know
| that would like to live If we had. I
believe that little mistakes tend to help
| us to do right or to do better next time,
anyway l find that this is good place
| to come back to and 1t is a good place
| to stay when you get back. The con-
ditions in Los Angeles are better than
they ever have been. The business OF
| Los Angeles is in splendid condition
.I.et me impress upon every man here
| tonight that 1t is his duty to help to
| maintain confidence. When he hears any
| thing about financial matters, when he
| ears anything said about this, bank OF
| that bank or this institution orYthe 9TH
| institution. give it right from your sho
der that they are all right The PEI
| who comes to YOU with such state'
naa6a cop6denCQ 0r ne WOulCf not