The San Francisco call., 1913-07-29

companies Yesterday outlined the situa-
tion follows:
"Financiers in the east do not like
the idea of advancing money for two
great corporations that are duplicating
each others work and lighting each
other for light and power service
throughout the same territory. They
have intimated that it might be wise
to get together. There have been over
have clearly demonstrated that the two
companies can not at present agree
upon the respective valuations OF the
properties. Consequently. the proposed
Rumors that the Pacific Gas and
Electric company might take over the
Key Route system were positively de-
MED by officials of the former company.
NEW MEMBER ELECTED
Max l. Koshland. who recently pur-
chased the D. r. Wilson seat from the
executive committee of the San fran
formally elected to membership yes
terday and took his seat in the after
noon session.
ALASKA PACKERS DIVIDEND
Announcement was made yesterday
by the Alaska Packers association that
a dividend of s1.50 per share on the
outstanding. stock would be payable
several weeks two Alaska Packers
bonds were sold yesterday at s1O5.
GENERAL PROSPECTS ARE GOOD
L. ]. Spence, director of traffic of
the Southern Pacific company. who has
just completed a trip of $4,000 miles.
that took him Ito many sections of
the country SAYS of general conditions:
Whereas last year considerable part of
the Louisiana sugar crop was damaged by
overflow of the Mississippi river. we antici-
pated that this year Louisiana and Texas viii
have something approaching normal sugar
crop increased rice crop and crop of
cotton equal to the large production of last
'.In New Mexico and Arizona the mining
industry is very prosperous and with the aid
of irrigation there is a very considerable agrl-
culture development. In California and Ore
gon the yield of deciduous fruit will not be
quite heavy last year. but the pro-
dueton of citrus fruit promises to be double
that of last year. which was seriously curtailed
by destructive frost.
general business conditions are little
quiet and manifest some hesitation. which
appears to be due to an inclination to await
definite outcome of tariff legislation to
conservative basis of purchases, and to a post
ponement of the extension of business enter
ket and full recovery of confidence which
had been somewhat undermined by the per
sistent persecution Of large corporate interests"
STANDARD OIL OF CALIFORNIA
Standard Oil of California continued
its advance on the New York curb yes
terday, s173 being bid, with no stock
offered.
UTAH COPPER EARNINGS
Strength in the Utah Copper company
stock is attributed to the earnings. 1t
is estimated that Utah is now earning
at the rate of close to $3.50 share,
Notwithstanding the drop in the price
of the metal. This includes Utah's en-
tire equity in the earnings of the Ne
vada Consolidated Copper company.
X x
BOND ISSUES IN STATE
Glendale has voted bonds to the
amount of 100000 to be used in pur-
chasing additional ground for high
school purposes and the erection of two
more high school buildings.
An election will be hello August 16, in
Olivet school district near Santa Rosa
for the purpose of submitting to the
electors of the district a proposition to
issue $4,000 for the purpose of erecting
a new schoolhouse.
Bids for the Justin school district
bonds will be continued to August by
decision of the board of supervisors of
Santa Ana
LOCAL BANK CLEARINGS
Local bank clearings yesterday as
announced by the San Francisco Clear
ing House association were $6,911,S12.32.