Los Angeles herald., 1910-06-19
BANKS, IN ALARM,
SEEK COMPROMISE
Clearing House Institutions See
Menace in Light Rate
Situation
URGE CITIZENS COMMITTEE
Threats of Public Service Corpo-
rations Make Capital | Ook
for Some Way Out

citizens committee, the call 70
which is signed by every clearing nous
bank in the city, is being formed I
break the deadlock between the tele
phone and lighting companies and tn
city council in regard to the cut L
rates.
The rolls were signed yesterday b
many prominent bankers, real estat
men and business men of the city.
1t is the avowed intention of IN
committee to look into the situation
and If a compromise cannot be effecte
bv which extensions will lbe carried OF
to take such steps as may be benefic1a
to the interests of the city at larS
before election.
THE CALL
The call for signatures follows:
Whereas. Ordinances have been
passed by the city council of Los
Angeles providing for the rates to
be charged during the ensuing year
for electric lighting and for tele-
phone service in said city; and
Whereas, It Is claimed by each
and all of the lighting companies
and admitted in the report of the
board of public utilities that said
lighting rates were reduced with
out a thorough investigation of the
facts or giving to said companies
a. fair hearing in the matter, and in
the manner of the fixing of tele-
phone rates the recommendation of
the board of public utilities made
after careful and thorough investi-
cation and fair presentation OF the
facts by the companies, that certain
rates be increased, was promptly
and without further investigation
~ 90 xv6iPh furnishing
some justification for the claim of
unfair treatment, as a result of
which it Is claimed by the COM
panies that they are unable to Sc
cure money previously contracted
for to meet the extensions required
bv the city's growth, and have been
compelled to cancel all orders and
Law off hundreds of men engaged in
that work; and
whereas, The said lighting com
panies, by their representatives,
appeared before the council on
Thursday, June IA, and asked that
the election on the light rate ordii-
nance be postponed for from thirty
to sixty days go enable the official
and civic bodies of the city to in
Yestigate and report upon the con-
ditions in order that the matter
might be properly placed before the
people. and did offer to pay all
costs of said postponed election (the
reason given by the public officials
for the hasty calling of this election
at the time another election was al
ready provided for, being the saw
ing of eXpense), and such appar-
entity reasonable request Of the
lighting companies having been
unanimously and without due con-
sideration refused; and
Whereas, 1t is claimed that such
action has so alarmed capital that
its general effects are already being
felt in many lines other than those
under immediate attack, and the
effect of the stopping of extensions
to the telephone and light systems
means that the sale of new subdi-
visions is impossible, which in turn
stops building operations and seri-
ously affects all material men en-
gagged in supplying and building
trades. and thousands Of laborers
engaged in such pursuits;
Now, therefore, we the under
signed business men of Los Angeles,
having the vital interests Of the
city of Los Angeles, and realizing
that hasty action when applied to
capitalized interests results in
StIlOuS IOOSg uOI Olly " lllC III
terests themselves, but to the
entire community. and that the
results while speedy in coming are
slow in being readjusted, and be-
lieving that such a situation is not
necessary nor called for. do hereby
organize ourselves into a commit
tee to be known at the citizens
committee, for the purpose of en-
deavoring energetically, in every
legitimate manner, to accomplish
a fair adjustment of this matter
between the city and the lighting
and telephone companies, and sub
sequent matters which may arrive,
and If such endeaVors shall fail, to
cause the situation to be promptly
presented to the voters of the city
of Los Angeles at the coming cleo
ton, that their character for fair
ness may not be impeached.
MANY sIGNERs
Those who signed the call We're:
Farmers and Merchants Nationa
bank of Los Angeles, by Charles Sey
Ter, cashier.
IT. e. Newlin.
Robt. Marsh G. Co.
Joseph Schoder.
E. c. Haskell, secretary Union Hard
w al . anu ANlCAcll NOlll JelllJ
L. c. Scheller, treasurer Union Hard
ware and Metal company.
E. o. Mclaughlin, vice presiden
Union Hardware and Metal company
George I. Cochran, president Pacifi
Mutual Life.
First National bank of Los Angelo
by Stoddard Jess, vice president.
Frank r. Walsh.
r. A. Rowan & Co.
L. Kimble, manager w. w. Mon
tague & Co.
Los Angeles Trust and Savings bank
by NJ. H. Flint, vice president.
Frank D Hudson, architect.
Jud Saeger, general manager Gran
E. H. Hunt, Crane company.
United States National bank, by O
NJ. Souden, vice president.
Fielding ]. Stilson.
Mines & Parish, by o. r. Farish.
Lawrence 3. Burck & Co.
Wright & Calender Co.
Merchants National bank, by Marc
II. Hellman, vice president.
Harrison Albright, architect.
Fred r. Dorm, architect.
George +. Costerisan, architect.
Robert T.. Train, architect.
National Bank Of California, by w
D. Woolwine, vice president.
Broadway Bank and Trust company
oy A. w. Redman, cashier.
The Citizens National bank Of Loi
Angeles, by A. ]. Waters, vice presi
dent.
The Central National bank by S. F
president.
Commercial National bank OF Los
Angeles. by w. A. Bonynge, president
J. F. Sartori.
w d. Longyear.
California Savings bank of Los An
relies, by M. p Snyder president.
Park bank of Los Angeles, by w. c
Durgin. president