Los Angeles herald., 1910-01-01

n REFLECTIONS made at the close of
the first two months business Of
n the year 1909 on the Los An
eeles stock exchange have been sur
PASSED at every point, according 10
figures furnished yesterday. Inc Vol.
l1r1e of business during the year Just
closed was enormous. prices showed
heavy gains and the listings were ex-
ceptionany large. Corporations cap
italfzed at $139, ,361 900 placed their
stock before the public through the
medium of the exchange, being only
another evidence of improved condl-
tious.
Gains such as shown by the state
ments are not caused by any specu-
lative boom or manipulation of any
kind. but are due entirely to the legit-
innate increased value of the property
and a betterment of physical condi-
tions among the holdings of the com
panies whose shares are traded IN
daily at the exchange calls.
The increase in the price OF OIL
which has advanced 25 per cent in the
last year, without one cent more IN
the cost of production, is of itself
enough of q factor to have increased
the holdings of the various companies
several millions of dollars, and as q
natural consequence the increase III
price of any crude material, being al
ways followed by an effort at in
creased production, the same general
law held good in relation to the OIL
business and all companies show much
new territory opened up with larger
production of oil.
Among the bank stocks some re-
markable gains are to be noted. 1
have no hesitancy in making the as
sertion," said Manager L. f. Parsons
Yesterday, that for the same length
of time the phenomenal rise in the
price as shown by shares of our local
banks. can nowhere be equaled
1T is the custom in Los Angeles 10
look for record investments along the
real estate lines, and certainly few
thousand dollars invested in close-ln
real estate any time during the past
ten years has been productive OF much
wealth. Bat no real estate broker can
show such percentage of gains Tor
their customers investments as can
he recorded by the stock brokers
whose clients have invested in shares
of our local banks during the year
mast. I even go further and make the
assertion that the gain during the
past year in the price of shares on
bank stocks is more, by some thou
sand dollars. than the gain in the
valt1e of their real estate or the quar-
fers occl1nied bv them. Total capital
of the banks is $11,146,250. The total
gain in bank stock in the last year is
s4. .652. 500 and the percentage in gain
in the entire list of bank stocks IS
about 40 per cent.
1.-THE bond list shows some gains,
but nothing remarkable; the percent
age of gain being about per cent on
total valuation of S700o,000 in listed
coupon bonds.
with a capitalization of s42, ,6s7 1853
n dividend rate has been maintained
of nearly per cent on the entire llst
Of industrial and public utilities. Ger
tainIv good showingi
mo remarkable gains are to be
enumerated in the industrial list eX-
cent those of the Title Insurance and
Trust company and the Title Guar
antee and Trust company. These
stocks have gone up some $50 a share
all due, as I am told, to increased
summary of the year follows;
Bonds ...-.. .-# $500 =. e, - :
Bank stocks s''s's'.s. =. -
Industrial stocks s............''.''.
Oil stocks --....-..... 80 - -
Mining stocks ....s.. y s'.a'''s.' s.'''''' f.