Los Angeles herald., 1909-09-23
SCHOOL BONDS
ARE NEARLY ALL
SUBSCRIBED FOR
BUT S133,00n REMAINS TO BE
RAISED
STOCK EXCHANGE MAY PUR-
CHASE BALANCE OF ISSUE
officer of Southern Trust Company
Proffers Service of Concern In
Distributing Securities
to Buyers
FOLLOWING the meeting Tuesday

FOLLOWING the meeting Tuesday
II of the bankers, called by ]. A.
u Graves of the Farmers and Mer-
| chants bank, at which subscriptions
for the school bonds, aggregating $685.
900, were received from the banks of
Los Angeles, the work has been con-
tinued by those in charge, and yes
terday $4,000 additional was sub
scribed.
This amount, added to that already
reported, brings tho grand total up to
$587 200, including $15OO0O promised by
the state board of examiners, lacking
but $133,O0O Of the entire issue of
$4,000 After the big mass meeting,
which is scheduled for tomorrow after
noon at Temple Auditorium, it is al
most certainty the remaining bonds
will be taken by residents of Los An
geles and patrons of the schools.
Trust Company Volunteers
Nothing further has been done to-
ward the proposed investment of the
aqueduct fund in the school fund. for
the reason that w. B. Mathews, legal
adviser of the aqueduct board, has not
yet returned from New York, where he
went with the city treasurer, Captain
C. H. Hance, to deliver a large bun
die of the aqueduct bonds to eastern
purchasers. AS 1t was Mr.. Mathews
who suggested to Captain Hance that
some of this money would probably
be available, 1t is not expected he
would now advise against the legality
of the investment.
J. A. Graves, who suggestde the idea
of popular subscription to the bonds,
has proffered without charge he SER
vices of the Southern Trust company
of which he is vice president, to put
in bid for the bonds, pay for them
and distribute them to those who sub
scribe. Mr.. Graves action in the
emergency with which Los Angeles is
confronted is particularly appreciated
from the fact that he does not live
in the city, having his residence in AL
hambra.
Stock Exchange May Act
While the work of the past two days
has been highly successful, 1t will not
be allowed to flag until the entire sum
called for by the bond issue has been
raised and every one who is able to
invest in one or more of the bonds is
urged to do so.
The board of governors of the Los
Angeles stock exchange will tomorrow
consider the proposition to take two
or three of the bonds, and 1t has also
been suggested to list them on the eX-
change.
viii Hasten Buildings
The board of education will lose no
time in the erection of the new school
buildings which have been authorized,
and it is probable that night and day
work will be ordered just as soon as
the bonds are disposed of and the
money available. That will be Oc-
tober II, the day set for the opening OF
bids. Even If the entire Issue Is not
taken by that time, which seems i'm
probable now there will be sufficient
sum on hand to begin work on several
of the most needed structures. The
new high school probably will receive
first attention, as the Polytechnic is
very badly overcrowded The archi-
tects are hard at work on plans for the
building and bids will be invited the
moment the money is available. 1t is
possible, pending the sale day of the
bonds, to get the matter in good shape,
so that there will be little delay in the
work
The sentiment which has been
aroused among school patrons in the
crisis has done much good, and is
especially gratifying to the board of
education, and to DR.. e. c. Moore,
superintendent of schools.
The good work accomplished by the
City club at the mass meeting Tuesday
night will be continued tomorrow after
noon, when a monster meeting will be
held at Temple hall Preceding the
meeting, which has been called for
4 o'clock, the school children will as
semble several thousand strong at
Ninth street and Broadway and march
to the auditorium.
Mayor Alexander will preside over
the assemblage, and will give the en-
couragement of his official position to
) further the good work
Between speeches there will be, Il
musical program, in which Gypsy
Rigo and his famous orchestra viii
participate.
The program for the Temple audi
torium meeting follows:
Overture orchestra; medley Poly
technic-Los Angeles associated high
school bands; invocation, Rev Hugh
K Walker; address, DR.. e. G. Moore,
} superintendent of schools; vocal solo,
Mrs. Mary lie Grande Reed; address,
Judge H. C. Dillon; address, Judge
Frank Willis; vocal solo, Kathryn War
ner Bernard address, Mark Keppel.
superintendent of county schools; vo-
} cal selection, Ellis Glee club; address,
Rabbi Hecht; instrumental solo, Gypsy
Rigo and his orchestra; address, Web
ster Davis; musical selections, high
school bands.