Newspaper Page Text
lilE CLOSING YEAR
[SITUATION AS REVIEWED
NEW YORK FINANCIERS
ABOUT THAT RUSSIAN LOAN
Ihe London Money Market —Marvels
iv the Iron Trryde —Incorpora-
I ofwcZofthe herald,
I Los'ANt;ill.lis, Dec 30, 1898.
| The year is closing with money at a very
I low level, and with nothing to indicate an
' advance for >i me t hue to come, fhe shifts
iug and adjustments of currency which are
usual,git this season, owing to dividend re
iQHi»ements, have been followed by no com
-tjlivaiious. According to ilu: New York Fi
nancier, an unusually large amount of
money' will be- n : ised during the next two
weeks, aud the d.main! for January invest
ments is bound have an effect mi cur
rent quotations. Never before iv the his
tory of the country have dechtrnlionsol div
idends equaled the record ol this year, and
never, it may also lie added, will such a
large percentage of ihcse dividends remain
in the United States. The general ire ml ol
exchange following domestic interest pay
ments will not, therefore, follow ihe course
of former year-. W. have spoken so irc
■uently of our export siniatu.ii that it is
Superfluous in add more here, bu; it should
I not be forgotteh that for c very dollar of
" Interest this country owes Europe,exchange
is making at the rate of several .lullars in
our favor. Ii will la recognised that the-e
facts forecast an excessive money supply
for some time to come, The disposition of
this surplus is bound to In one of the inter
esting problems of ihe new year.
The banks of New Vol I, are' able lo Utfe
the luiiils. flowing to tbia center, a.- the
weekly Statements havi re veiled, but the)'
are now called upon to paj in Installment!
the remainder of the Pacith railroad Mind
ing bonds, amounting to about eight millions
of dollars, still remaining in their posses
sion. On the oilier hand, they will benefit
through the payment ot ihe currency,sixes,
114,000,000 ci which are due ar.er January
With the except inn of a tempi rary flurry
on Tuesday, says the Financier, when call
rates were forced to 4M; per cent on the ex
change lor no particular reason, loan- on
tall are voted' et about 2 per cent, with
exceptions in both directions. Time tt)one)
i* 3 per cent for sixtj dayi and four monthi
at ;i'/4 per cent for longer rates, wi Ii little
demand. The commercial paper market was
never slower. Dun's canvass revealed tie
fact that ten leading commercial banks put
out only 1.) per cent of their fundi iv mer
cantile channels. Two week* igo thi iver
age was 30 per cent, and three Weeks ago
S3 per cent. Kates ~*.c quoted generally al
3 and \\% per cent lor lie-t endorsed l>.l!
--teceivabbe, and 4 ami s per cent for good pa
per not so wi 11 known.
The statement of the New York bauKs
for the week ending Saturday dots tot
favor an advance iv rales for funds,
That Rusisan Loan
It is complimentary to the United States
to know that foreign nations ate now turn
ing to us for loan-, Inn it i- Inconceivable
that at this period of our development ef
forts Looking to the borrowing ot largi sums
for a stipulated period can be consum
mated. In, the- first! platfe we are already
lending Europe an amount variously esti
mated at from sixty to one hundred mil
lions on balance. This money, it is true, nay
not be regarded as a loan, but it amounts to
that in effect, and any sudden demand on
our part would add it to our domestic cap
ital. For that matter a loan to Russia
Would have the effect of wiping out thi
call loan, through the process oi transfer
Into Russian bonds. Hut thi- would also
mean a violent fluctuation in exchange
which, at present interest rates, might re
sult in heavy exports ot gold from Xew
York. Certainly with rates in Europe al
ready high enough in warrant continental
centers borrowing heavily of our surplus
funds, the conversion of this money, or its
sudden withdrawal, would affect rales to
the point where new supplies would be im
perative. Where this capital would be funnel
is uncertain. As Europe still holds hun
dreds of millions of our securities, it is quite
likely that -he would attempt relief through
realizing sales in New York, just a- (lei
many has been doing for some lime past.
This method, iv fact, is the only one that
seems practical. Iv loaning to Europe,
therefore, the United .Slates would not only
have to lake the obligations representing the
debt proper, but it Might become necessary
also to absorb a large quantity of our own
securities now held abroad. The country,
granting that everything written concern
ing our prosperity i- true, i.-' not equal to
l)he task. Another point to be considered
I'*is that a great deal of the funds now in bank
Iv the United Slate- ate not available foi
f oilier than local use, for the simple reason
that thej' belong to the treasury, and as
such are subject lo call. This money amounts
to ninety-three or hinety-four millions. Its
first transfer into the treasury brought
about a condition of affairs in tlie financial
world which is still remembered. Do bank
ers favor a return to these conditions?
But granting that we have te money to
loan to Russia, is it desirable to encourage
the growt hof militarism and selfis aggran
dizement whic the h au assuredly would aid
in extending? Do American merchants wish
to see their money until in e'.tesing the far
cast against their best customers? That is
the underlying cause which prompts Rus
eia to seek a loan, nnd it stems rather incon
gruous that aid therefor should be solicit
from the great transatlantic republic. The
United Slate-, fortunately, has held aloof Up
to this' time from the entanglements of Eu
ropean diplomacy, but the negotiation of a
loan here would drag the nation deeper into
the maelstrom of international polities than
might prove comfortable.—Financier.
London Money Market
The Economist says that notwithstanding
tbe fact that tbe market lias ifepaid to tint
bank all the money borrowed, "the outside
supplies arc still sufficiently abundant, and
■as the number of bills offering has been
rather limited, discount rales have given
way, till now the quotation lor best three
months' paper is hardly better than 3 il-KJ
per cent, although 3% per con', is the nomi
nal quotation. The bank appears to have
been making no effort to control the market,
nnd seems to have taken back some of (be
Consols on which it bad borrowed. Probably
it is reckoning upon regaining control with
out any special effort at the beginning of the
new year, when the revenue payments will
sweep money off the market. And between
now and then it hardly likely that rates v ill
fall lower, because of the increased elcmantl
that always springs up as we approach
Conducted by GEO. A. DOBINSON
closely the end ol the ye ar. The probability
rather is that they will sliflcn up a little."
Marvels in the Iron Trade
Wonderful things art happening iv the
ii-on traele, Dun's KevieW says:
"The story of the iron trade is like a
dream, With 26,000 ions of Bessemer pig
. old at Pittsburg lor All).(ill and gray forge
at $9.40 and Chicago sales limited only by
the capacity of the works, and eastern sales
so numerous and so latrgc UK to raise the
price 'J.i cents, i here is a demand lor finished
products which includes Pbil'iadelphia 4000
tons oi plates for export to South America,
;iii(i(i tons at Chicago, where ihe works are
en,wiled, 80,000 tons of steel rails by the
.Maryland Sieel company for Asiatic Rus
sia, 86.000 lons for Aiisi ialia, against lb iti.-h
bids St Pittsburg, and about 10,000 ton- of
domestic at the- east, 0800 tons oi structural
work at Chicago and Pittsburg, and 8000
tons for car building at Chicago, all the
works there being crowded with heavy or
ders for sheets and wire rods, and sharp
competition In the south on cotton ties,
pending a contract for 20,000 tome of cast
pipe for Yokohama ami sales of minllei
quantities in each class too numerous to
mention. Prices of iron and steel products
have not materially changed, all hough the
tone in everywhere stronger, and for wire
nails quotations have been advanced to
81.30 at Pittsburg. Bui this country is beat
ing the world in this industry."
County Mutual Budding and Loan asso
i iatinn, Pasadena; capital stock, $2,000,000;
subscribed, $8000; J. M. lliim.hi, Solon
Briggs, Henry Newby, Isaac Springi r, T. ('.
Ihe It. E. Gogings Drug company, Sacra
>>'«•>;"•>: $6X1,000, divided into 90,000 shares of
lime and Norcrois Mining company, Ran
brancisi »; $336,000; subscribed, $2100.
Dean Creek Goal Mining company, San
Francisco; $100,000; subscribed, $1200.
California feneration of Homing and Car
rier Pigeon Fanciers. Los Angeles; capital
sloe!;, $1000; subscribed, $900: J. C. Girt on
O. S. Miller, L. 11. Nolle, 11. 11. Mills,
( hallos Chick. .
Mortgages, $1000 and over
. , (Dally Statement.)
Arthur F. McClenathen to' Pacific
< oast Say, Bocleay—Lot 6, blk J,
Memo Park, 7 yrs, 8 per cent $12)0
Emily M. flub y, formerly Emily M.
White, ami C. 11. Finley, to So.
Cal. Say. Ilk—Parr Sec. 3d, 1 S. 13,
3 yrs, U per cent I.SCO
(.. B. Brooks In Susan Wad- Peabody
—Lot 1, ConVi tie's sub., 3 yrs, a
per cen I 2,000
11. Vogl to Hanford L. Oorwon—Lot
18, Ellendaie Plage, lot 19ft, Bow
ker's add.. 3 yrs. 12 percent 1,503
Ja.nes Taylor to George Alt rrlll—
Lots Hi and 17. Vineyard tr;, 8 yrs,
U pi r cent 2 000
Bant' to John Taylor—Same, 8 yrs, 8
per cent 1.000
Augustine Campbell-Johnston io
Frank Coffin—Part lots S3 and 86
dlv It., Jus-. Smith ttt, Dee. 27. 1801,
10 per cent 1300
U'aae Lyons l„ .Mrs. EilSUboth H.
Howard and .Miss Louise M, How
ard—Fart lots 9 and 10, blk I). Mo.t
tit, 2 yrs, 11 per cent 10,000
Alice Bhafer, Frank H. Bhafer to L.
A. Say. Bk—Lot al NF.. cor. Alame
da and Bevepth si.-., and other prop
erly, 1 yr., lo per cen: ".. 20000
Falrmoun: 1., n w. Co. to Robert D
Durant—Pari Sec. 38, tf, 15, Jan. 15,
'90. 8 per re-n: 1 42s
Eleven mo: Igages under $1000 ...... Sjggf
Tolal j $47,051
Release?; SIOOO and Over
(Dally Stat' men:.)
John Taylor to nines Taylor, 411-93. 81,500
R. B. Wtlltaatsol to A. Exton, 410-151 1 iflO
National ii. A L.Ass'n to J. Bridges,
Main St. S. Ilk to L. Stanton, 351-151 2,i:i>o
I'nlon Ilk of Say. lo IS. S. TyLr.
007-3H * J j 200
E, Hunter -o R. MoOarvln, 408-87..., 1,500
\\. it. Whi: to J. Brounste.'n,Bßs-11.. 8,100
S. C. lluMiell to S. E. Davis. Oul-19!.. 1,100
M. H. Slater to D. H. Richardson,
J. A. CoiTln to M'.'McDonaid'.'MSiw!! 1)200
Fifteen releases under $1000 7,240
Transfers. §1000 and Over
Mary J. Grupe to C. E. Brooks-Lot
1, Converse sub. part lot 7, blk C,
San Pasq.ua] trt 23,500
John E, Packard to Carrie Affler
-1 augh--Asreement'tp convey tots J 5
tol 50, J. E. Packard Vineyard trt.. 3.0ii0
n. ( . Lane to Isaac Lyons and Mar
si la Lyons—Part lots 9 and 10, blk
D, Motl trt 30000
Robert (.'. Gluts :o Robert F. Jt.nes '
—Lot C, blk 119, lots, op s T tt
blk 93. lots K. ti, blk 113, Santa .Mon
ica 1 500
Jesse C. Rains to Edwin S. Rowley— '
Lois 18 and 32. Granada trt 1 "00
.Mary L, Freeman, Robert L. Free
man 10 Myra H. Clark— Lot 4, blk
A, Loomls trt 0 500
C. E. 'ulman to Nita Roberts—Lots '
14 and 10, blk 11, Clement trt 2,000
Thirty-four transfers unde $1000. 19
vi which are nominal 4.514
Conditions as Shown by Transactions
on Wall Street
NEW YORK, Dec. 30.—Stocks rose con
tinuously li day. \vi;h none of th. custom
ary reaeti'is. and left off with fractional
gains in the' standard railway shares am!
at very material gains in various special
ties that w< re I'loniincnt in [he day's tra-is
tlons. Ihe London market, when- the fort
nightly settlement passed over favorably
opened away up on purchases partly for
American account. There was also genu
ine buying for foreign account, owing to
the disinclination of London operators to
awaii a possible January boom and Amer
ican rails closed at about the best. The
Initial rise' locally was 1101 quite up to the
London figures, but trading was active and
broad. Commission house buying overcame
realizing sales', industrials \v re particu
larly strong and Hock Island led the gran
gers upward. Public Interest lnoreased as
;h« day advanced, anel prices were gener
ally lifted. The belief that next year will
Witness a more harmonious' arrangement
in the anthracite trade was largely respon
sible for the rlae tn. Reading and other
coal carrying roada. Continued favorable
railroad and trade reports und prospective
easy money rates Btfmulated the buying
closing the Jtear in the stock exchange
trading In a whirl of activity and frength
with many securities ut the highest price
of ihe year.
The bond market shook off its--' lale hesi
tancy and ooursedatpward. with particu
larly large purchases- of Reading fours,
which touched 89. Total sales', $3 495,000
United States fours, registered, advanced
V, and United States fours, coupon, the
new fours and the threes % In the bid
NEW YORK, Dec. 30.-Following are
closing prices of stocks on the New York
stock exchange today:
Atchison 18Vb do pfd...... (15%
do pfd 52 Rocklslnnd...,ll4
Baltimore &O. 89J4 St L & S F. . 8%
Canada Pacific. 85V4 do pfd 67*4
Canada South.. 55V6 do 2d pfd 33' i
Central Pacific. 43-li StL&SW. ... Ttt
Ches & 0hi0... 25 do pfd... 171?
Chi & A1t0n....170 St Paul- W&
CB & Q 123 do pfd ..Mi
Chi & E 111 61K St P & Omaha... 93
00 pfd 11l do pfd HIS
S£|S»w. iM stPMW..:::iBo
Chllnd&L.... S;s Southern Pacific. 33»(,
do pfd 32 Southern Ry .... loti
Chi&NW do pfd.....:: J
,-, d ,°, „ v J'h 185 Vi Texas & Pacific. 19V 4
CO C & St L.. 43% Union Pacific.... 4314
do pfd 94 do pfd 74
Del & Hudson..M4U, UPD&G 12
Del L& W 154 Wabash •»:
Den & Rio G.. 2044 do pfd 2** l
do PM 70% Wheel & LE.... B%
Erie (new) .... do pfd 2754
do Ist pfd.. 39% Adam* Ex 108
Ft Wayne 175 American Ex....113
Gt N pfd U4y; United States Ex 52
Hocking Val... 3% Wells Fargo ....127
Lake E & XV... 21 Am Cotton 0H... 36%,
do pfd liYt, <So pfd 7. 89
LOS ANGELES HERALD: SATURDAY MORNING, DECEMBER 31. 1898
Illinois Cen ....114% Am Spirits 13%
Lake 5h0re....186% do pfd 3'%
Louis' & Nash., ills Am Tobacco ....143
.Manhattan L.. 87% do pfd 188
H< ISt Ry 181% Con Gas. 195%
Mich Cent ....111 Cum Cable C 0...115
Minn &St L.. 30% Col F & 1r0n.... 31%
do Ist pfd.. 9i do pfd 85
Mo Pacific 45% Gen Electric .... 95%
Mobile & Ohio. 31% Hawaii Com Co. 53
M K& T 13% ln-.nl Paper 63%
do pfd 37% do P-d 93%
N J Central 97 La Clede Gas 52%
N V Central...l 23 Lead 38%
NyC &Bt Ij.. 14% do pfd 1131*1
do Is: pfd.. 72 Nal Linseed Oil. 8%
do Id pfd... 35 Pacilic Mall 45%
Nor West IS People*! Gas 110%
No Amer C 0... 7 Ptillmun Palace.lDS
No Pacilic 44% Silver Cert 58%
do pfd 77% Standard U& T. 8%
Ontario & W... 18% Sugar 120
• ire R & Nay.. 50 do pfd 112
"re- Shoit Line 42% T C & Iron SSU
Pac C Is; pfd.. «.| U S Leather 7%
do 2d pfd... 62 do pfd 72%
Pittsburg 172 D S Rubber 41V4
Rending 22% do pfd 111%
do Ist pfd.. 63(4 Western ITnlon.. 93
ft G W 25 Federal Steel .... 51%
NEW YORK, Dsn, 80.—Following arc
cli sing prices of bonds on the New York
stock exchange today:
r S Ss 107% N V Cen lsts 117%
I' S new Is reg.l2!) N J C r>s 116
do coup 129 No Carolina 85... 188
V 8 is UWt do 4s 10l
do eoui 113% No Pao Is'ts 117%
do 2ds 99% do 3s 80%
li sss reg 112% do 4s H2%
do ss'Cotip..ll2V, N YCK-8: I, 4s,loti
District 3<MH....HSVi Nor & W 6s 124%
Ala Class A....108 NW consols 14">
do il 108 do del) &5...119
do C 100 O Nay lsts 113
do Cur.:. ..100 do 4s 100%
Atchison 4s .... 99% O S Dine 6S I r..l"i
do adj 45.. 79 do 5s t r Lll'/ii
Can So 1d5....11014 Pacific lis of 91..103
• ' ft «» I'.-s m . Iteadli X l» 88%
Chi Term 15.... Ho' 4 11 O W lsts 93
(' a Ohio ."5....117 ;, 4 Bt I. AI M con 65.106
(' 11 .v D4%8..104% St Lft S F gen tUi.l2s
D & It el lsts..loß St 1' Con 102
do 4s 101% Bt Pft C Pitts..U2V4l
East Term lsts.lo7 do r.s 121
Eric Cm 45.... 28% So Itv r,s 1,6
P W* 1) lsts tr 8.V.. H H ft TUs K|%
Gen EleO 65....108 Term newse: 35.. 98
t! II & S A 05..107 Tex 1' 1, (! Ist s.. Kill!.,
do 2ds 103 do reg ads'.. 48)4
H&TCSs 112 I' P D ft Gists.. 87%
do con U5..112 Wabash Ist 65...113
lowa C 15:5...:1u7 do 2ds 84%
l,u new oon 4s. 109)1] W Shore 4a 1124
1 L Al- Nl id 4.-.. o> Va Csnturlei 8."
Miss ml lis ....100 do «fd 7%
.14 X & T 2.! .. 77S W.s Cen 15;5.... 62
do 4s 81*1
i Bradstteet's Report
NKW YOKK. Dee. 30.—Bradstrcot's to
morrow wIH say:
Hoi day quiet In general demand, -sus
tained activity in inuu.-tri.il lines, particu
larly iron ami steel, exceptionally large
■hlpnti nis of goods on orders, liberal cereal
exporta and specially heavy dealings in
speculative markets' are features calling
for notable mention In the closing week of
the year. Firmness in prices is likewise
an encouraging feature in most staples.
Wheat, though showing a reaction, Is
higher on the week, en large export clear
ances, and other cereals'are In sympathy.
Pig iron dt mand grew.-, and prices for this
product and fur steel rails, Steel billets,
plates nnd wire rods ate all higher for the
week, while th" volume of tori Ign demand
for I'een tl\l.-hed nn-tnl produc'.s apparen:
--!y Increases as the year draws :o Us close.
Concisely sifted, the reports*reoeived as
to the year's business in ::il sections of the
country point to an unprecedented volume
of domestic and expert traele. wh.eh Is re
flected In bank clearances that break the
high record cf 1882. The general level cf
prices of staple securities at the- close of
the year i= almost at Ihe highest point
r ached for Aye years past. Railroad earn
ings exceed all previous years, and finally
there was a smaller nunfber of failures and
'ower liabilities than in any year lor a',
least live years past.
These general results In the country at
large hive been achieved, too, notwith
standing the outlucak and close of a for
eign war. anel Iv spite of the unfavorable
conditions in some Indtistr es, notably tex
tlle manufacturing, which, combined with
unfavorable weather tar.y In the year ami
the lowest prices for cotton on record, ex
ercised an unfavorable influence. But the
close of the year ftndi an improvement in
those directions, and re-turns as to retail
tiade, and particularly holiday business,
are strikingly good, in all sections'. Best
reports from distributive trade naturally
come from the grain growing sections of
ihe country, which were the first to meet
an Improvement resulting from free for
eign demand lor our cereals, but Indica
tions are not wanting that.this improve
ment is gradually percolating throughout
.he entire business community, and, cou
pli i with unprecedented export trade In
manufactured g oda and the f;ic; that we
are selling two dollars' worth abroad for
every dollar's Worth we buy, tenders possi
ble the gains reported In distributive trade
over 189/, ranging from 10 to 40 per cent,
with hkewise good reports from the manu
facturing centers, excepting the textile In
dustries already mentionid. The expott
trade of the country fur the year, as above
Intimated, is the heavies! ever known, and
will probably exceed 81,250,000,000 In vulue,
thus being nearly double the imports. Our
export trade In manufactured goods, it
must be observed, is the heaviest ever
known, and for the first nine in our coun
ty's history, exceeded the imports of simi
There were 11,883 failures' In the full'd
States in 1898, involving liabilities'of 1141,
--137.117, a decrease from ISK7 In number of
11..' per cent and in liabilities of 0.5 p;r
cent. Compared wilh 1898 ami 1593 the pro
portion of decrease Is even larger. As com
pared with 1898 failures were fewer by 25
pur cent anel liabilities smaller by 64 per
cent. Decreases are also shown when com
pared with 1891, a year of large trad.c, but
of numerous ami costly failures'! but, com
pare-el with 18112, there Is 1 an Increase)shown
of 13 per cent in number and LCI per cent
In liabilities. The tendency of failures
toward the normal Is Illustrated by the
fact that the percentage of assets to liabil
ities is Ihe smallest reported since 1892 and
the annuSl death rate—that is, the percent
age of traders failing to those In business—
is likewise the smallest reported since the
latter year, be ing only 1.8 per cen;. against
1.20 in 1897, 1.50 in 1893, and 1.09 in 1892. Un
satisfactory conditions in textile lines and
some large failures of banks and other
financial concerns account for the expan
sion In liabilities shown in those sections,
While a larger number of small failures In
Pennsylvania and in some of the eastern
states reflect poor trade early In the year
and the dullness growing out of the war
and InVel weather.
Wheat, including tlour, shipments for the
week aggregate 0,292,025 bushels, against
5,515,211 last week, 5,49J,00a in the corres
ponding week of 1897, 2,977,798 In 1890, 8,142,
--078 In 1895, and 3,196.405 bushels in 1894.
Since July Ist this year the exports of
Wheat aggregate 121,518,709 burhcls, against
123,901,708 bushels last year.
liradsiirec-t's weekly financial review will
Increased participation by the public has
been the principal feature. Commission
houses have been active in the market, and
while a great deal of profit-taking has un
doubtedly occurred, tne accession of new
purchasers of securities for speculative
purposes has' been continuous, iv-ars that
the market was culminating £pr the time
being have found expression', while the
bullish temper of the street and public is
undiminished. The favorable factors of
ihe situation, such as Ihe volume of money
;n the country and. tho continuance of In
creased railroad' earnings., were supple
mented this week by a rise in grain prices,
due largely to Increased foreign dtmand for
demands, the latter will still have sufficient
force to carry securities to a higher level,
irrespective of what the growth and widen
ing of the speculative spirit may accom
plish in the same direction.
The London market has been more or less
ot a holiday character, but American
stocks were strong there and the foreign
participation was mainly on the bull side
in fact, the fortnightly settlement on the
stock exchange there disclosed' exception
ally large long holdings, of our securities.
In our own market, the activity of lead
ing interests in supporting and advancing
their securities' has not been wanting,
though, 10 give variety to the market, some'
of the professionals' showed a disposition
during the week to take the bear side for
a turn. Under existing conditions' und in
view of the revived Interest of the public
estimates of tho outlook generally point
to a continuance of the rise in prices for
both stocks and bonds, tempered, perhaps
by setbacks, as realizing temporarily gains
the ascendency or the over-bought state
of the market invites reactions.
Dun & Co.'s Review
NEW YORK, Dec. 30.-R. G. Dun & Co.'s
weekly review of trade will say, tomorrow
Th© year has not only been one of great
victory, of important Increase In territory
and of Incalculable expansion of the Influ
ence of the United States among other na
tions, hut has surpassed all other years
In financial and Industrial results. The
center of financial power has crossed/ the I
ocean. After paying debts of several hun
dred millions abroad and conducting a war
to an honorable end. th.- country is lending
to many millions in Europe tnat for Ihe
first time banks abroad look to Now York
to dicta'■ the rate of exchange. Exports
have been $1,250,000,000. and the excess, over
Imports about 3617,1.00,000, against $357,000,
--090 in 1897, and In only two previous years
has Ihe balance risen to three hundred, mil
lion, in. no past calendar years have net
Imports of gold reached $75,000,1.00, but this
year they have been about 1140,000,000.
November passeel all previous l records in
value of produce exports, but Dee-ember lias
gone beyohd November. Our power In ihe
world.-1 markets conns with a demand for
breadatufm and other necessaries never
before equaled. Exports of cotton have
been over 7,700,000 baKs, aboul 3.9.iVi,09ti
pounds:, in no previous) year as much as
7,000,000 bales, or 3,600,000,000 pounds. Ex
port s of breadatuffl have been In value
$283,918,294 in. eleven months, and never
have been ns larai in any other year. EX"
ports ol' wheal fur the year, lacking a clay
or two, have: been 218,591,080 bushels, flour
included, slightly exceeded only by 22",,(iir,.
--812 In 1892, and, of corn 200,979.077 bushels,
nearly approached by 189,217,670 bushell In
1897. The heaviest exports of both grains
and flour In ay previous! y ar Were 59,000 1 10
bushels smaller, only 330,220,518, in I*H7.
Though wheat was raised t . 81.91 in May,
Ihe h.ghes; quotation, with the high st
monthly average for thirty years, 81.63.28,
so that the .average for the first half year
was $1.11.11, exceeded slightly in 1891, but
ihe highest since 1883, the December aver
age has been only 72 cents, 25 cents- b. low
iluu of lasi year, but the year's average,
93 cents, Is the highest e4nce 1881.
The triumph in finance lias been largely
due to Industrial progress. The output e»f
pig iron, has been about 11,645.000 tons, tin.
greatest ye: reached in any years by 2.00H.
--000 tins, and greater than Great Britain
ever reached by 8,800,000 t-.ns. let the con
sumption In manufactures' nasi been stllh
lurgi r, In spite of net exports of pig in tern
month! of 168,089 tons.
Exhorts of iron manufactures: in ten
months were about 887,844,538 in value,
against Imports of $13,497,817. Prices shown
for the yeur In the table of comparisons
have been usually unsteady, varying not
live per cent from the low. st to the highest,
and lor linished products not six per e*t nt. •
Textil" Industries have been retarded by.
high prices of woo! and abnormally low
pries of cotton, both deterring purchases,
in three months cotton reached 5.81 cents,
the lowest price for life.,- years, the gri atest
yield iV( r known being followed by re
ceipts since September 357,000 bales larger
than last year.
Kxporis have Increased, but not as grea.
ly. Toward! ;he close recovery came, with
account.- of some' destruction by storm, and
: lie price reached 5.87 cents, giving a strong
Impulse to the manufacturers, so the nk-
Ings by northern ami southern sp.nn. rs*
In Ihe calendar ytar have beer. 8.425,200
bales, a little greater than, any previous
("■op year. Good- 1 were reduce i in price
live per cent to th.- middle ef November,
but have risen seven per cent, and closed
at the- highest point of ihe year.
Ti spite of enormous stocks h Id, Woi 1
was so lifi' 'i that inlying both of wool ami
of good* was checked early In the year,
but a slow dccl ne began. Iv February,
Sales have been only 232,451 131 pounds at
ihe three chief markets, to that the mills
have probably used test "buna full year's
upply, and 'he stock of gootte'was also ex
cessive a year ago.
Failures In the I'nl'ed States' for the
Week Were 252, and in Canada 22. a total of
271. against 2X9 last week. 292 the preceding
we ek and lb! ihe eon > spending week las ;
year, of which 395 w e re In ;hr I'nlte'l Stat's
•mil 21 In Canada. Of failures In the United
States, 74 have liabilities- cxc edlng 859C0,
and 178.liabilities le.-s then fffn'un. For four
weeks of December the lotal liabilities on
linn- failing were $11,697 005, against $10,
--3011,580 last year.
SAN FRANCISCO. Dec. 20—Bar silver.
"»9e: Mexican dollars. 17 -nli-V
--NEW YORK. Dec. 20.—Liar Silver 53c;
Mexican dollars, 4698 c.
LONDON, Dec. 80.—Bar sliver, 27% d.
WASHINGTON, Deo. 31.—Today's state
ment of tbe condition of the treasury
shows: Available cash balance, $290,068 117;
ttold reserve, 8248,995,716,
SAN FRANCISCO MARKETS
Call Board Dealings and Prices of
SAN FRANCISCO, Dec. 30.—Wheat-
Stronger; May. 1,21%.
Corn—Large yellow, 1.1061.1214.
Flour—Family extras, 471504.25; bakers'
extras, 3.9004.1 0.
Wheat—Shipping, 1.16% for No. 1 and
1.17% for choice; milling wheat, 1.2-. 01.
Bariey—feed, 1.8001.82%; brewing, nomi
Oats—Poor to fair, I 2001.22%; good to
choice, 1.2601.27%; fancy feed, 1.3001.83%;
gray, 1.2501.30; milling, 1.2501.80; surprise,
1.8601.42%; red for seed, 1.4601.60; black do.,
Mills-tuffs—Middlings, 19.00Q22.50 per ton;
Vegetables—Onions, 30075 c per cental;
green peas, 6.0008.00 per sack; string
beans. Sift 10c.
Hay—Wheat, 13.60018.60; wheat and oat,
15.60016.50; alfalfa, ll.Oo012.5O; barley, 11,60
Potatoes— Early Rose. 60075 c; River Bur
banks, 600850; Salinas Burbanta, 75C01.15.
Dry Beans' Pink, 1.9502.05 per cental;
Lima. 3.2503.35; small white, 2.1502.25; large
Fresh Fruit—Strawberries, (fj per
chest; cranberries, 8.0009.50; apples, 60c
. Citrus' Fruits—Navel oranges. 1.00**2.59;
Mexican limes, repack, 4.0004.50; common
California lemons, 1.0001.50; choice, 2.0.10
Eggs—California, 34038 c; store, 2S?i'3oc.
Butter— Fancy creamery, 280290 per lb.;
do. seconds, 860270; fancy dairy, 25<(/20e;
do. seconds. 20024 c; pickled, lS!iil9c.
Poultry—Turkey gobblers, 13014 c per lb.;
old roosters, 4.0004.50 dozen; young roost
ers, 4.0003.50; small broilers. 3.0063.50; large
broilers, 4.0004.60; fryers, 4.0004.50; hens,
3.5004.00; geese, 1.6002.00 per pair; old pig
eons, 1.23; young pigeons. 1.5001.75.
Dried Fruit Prices
NEW YORK, Dec. 30.—California dried
Evaporated Apples—Common, 73ISc per
pound; prime wire tray, S%e; choice, 00
9'ic; fancy, 10c.
Apricots—llol4c; Moorpark, 13017 c.
Peaches—Unpeeled, 9011>ic; peeled, 200
Kansas City Live Stock
KANSAS CITY, Mo., Dec. 30.—Cattle-
Receipts. 3000; market strong; native steers,
8.2005.30; cews and heifers, 1.5004.15; stock
ers and feeders, 3.0004.50; bulls, 2.5053.75.
Sheep — Receipts. 1000; market strong;
lambs, 2.5005.10; muttons, 2.2504.00.
BUTTER— Extra local 32-ounce squares.
62%W65c; fancy creamery, northern, 32-oz.
sciuures, 55@57&c; eastern tub, 24©26 c
CHEESE—Martin's New York Cheddars,
per lb.. 14c; eastern full cream, per pound,
I4ttCj California half cream, per lb., 12>;,e;
coast full cream, per lb., 13',ic; California
Downey or Anchor, per lb., 14 We; do.Young
America, per lb.. lOK.c: do. 8-10, hand, per
lb.. 10% c; domestic Swiss, per lb., 18020 c.
EGGS—Fresh eastern or California, 28®
Sou pei dozen; eastern storage, -otitic.
POULTRY—Per dozen: Hens, 4.00/35.50
--young roosters, 4.500 5.50; old roosltirS 4 00
04.50; broilers, 2.50(«'3.25;; fryers, 3.5004.00'
ducks, 4.0005.50; turkeys, alive, per pound
I501BO; geese, apiece. 76C01.00.
POTATOES—Bur banks, 1.00iJJt1.25; Early
Rose, email@example.com; sweet, new, 1.25® 1.50.
VEGETABLES— Beets, per 100 lbs., 80e;
?£. b ,'. )aee ' per 100 lbs- 1-5001.75; carrots, per
100 lbs., 85c: chiles, dry, string, 80090 c; Mex
ican, per lb., 50c; green, per lb., sc; gar
lic, 6@7c; onions. 85090 c; -do. greon, pep
doz., 25c; green peas, 607 c; turnips, 1.00;
RAISINS—Fancy clusters, 20-lb. boxes,
2.00: 4-crown L. L. clusters. 1.75; 3-crown
L. L., per box, 1.50; 2-crown. loose In sacks,
per lb. 3%c; 3-crown, loose in sacks, perlb.,
4U4V2C; 4-crown. per lb , 5Wc.
DRESSED MEATS—AII per lb.: Reef.
No. 1, 7c; No. 2, 6%c; hind quarters, No. 1.
9c: hind quarters. No. 2, B'/jo: ribs of beet,
AN ELEGANT TOILET LUXURY.
Used by people of refinement
for over a quarter of a century.
10c; veal, 7%@Bc; mutton, 7 1 ,4 c; lamb, 8c;
pork loins, 9',< i c; legs of porK, B'Ac; pork
spare ribs, 4c; pork lenuerloins. 15c.
1.1 VESTOCK—Per lb.: Beeves, 2%@3c;
hogs, 4%0j iambs, per head. firstname.lastname@example.org§; sheep,
per cwty 2.6i4<3.75; calves, per lb., 2-7;@3e.
HONEY AND BEESWAX—Honey in
comb, 10® 12c; beeswax, 2u}e2se per lb.
BEANS AND DRIED PIJAS— Pink, 2.80;
Lima, 4.00; Lady Washington, 2.50; small
white, 2.80; green field peas, 2.751t3.00; black
eyed beans, 3.00; garvancos, 4.00®4-&9; len
tils, Imported, 7.00®6.00; lentils, California,
I.ARD—Rex pure leaf tierces, 7V4c; spe
cial kettle rendered lard, 7Vic.
CURED MEATS—Rex hams, 9%C| Rex
bacon, 9%c; best hams, lo (n lOVtCi
cure, 9c: fancy breakfast bacon, lo%e; di Led
beef, 13c; smoked tongues, 6ucj dry salt
clear bellies, 10-20 ay.. hL/it&'.sc; dry salt
clears, 35-40 ay., 7'/,c; salt clear backs, t%C.
TALLO\V--Per lb., 2%®3c.
NUTS—Walnuts, Los Angeles, MtSV.c; pa
pershells, 16017 c; hardshell, loir 12c; pecans,
I0®12c; Alberts, 11®12%c; Brazils, 10® 11c;
plnons, 9®120: peanuts, eastern, raw, B%®
7c; rous;ed, Bj4®9c; California, raw,
citrus FRUlTS—Valenclas, 1.75 iff 2.25
per box; fancy seedlings, email@example.com; lemons,
cured, :i.>iO r '«:;.i>>i; green lemons, 1.00®1.60.
DRIED FRUITS—Apples, sun dried,
sacks, per lb., 5%®6c; evaporated, fancy,
B®lSci apricots, new, lie; choice, 008 c;
peae'hes, fancy, unpeeled, pears, I'an
cj evaporated, 9®loc; plums, pitted, choice,
9®loc; prunes, choice, boxed, 6®9c; sacked,
7frfM:; dates. silver prunes, choice,
suck, 7V6®Bc; box- s, 9010 c; ligs. California
while, per lb., 6®7c; California black, per
lb., 5®6%c: California fancy, per lb., Jo®i2c;
Imported Smyrna, 12%®16c.
H AY—Wheat, per ton. 20.00®21.00; barley,
2o.OeKii2l.iiii; 0:1:, 17.ivu20.00 alfalfa, baled,
I5.00®17.00; loose. 15.00.
GRAlN—Wheat, No. 1, 1.50; No. 2. -—;
corn, small yellow, 1.25; large yellow, 1,15;
barley, common, 1.30.
MILLSTUFFS—FIour, local mills. 4.20
per bbl.; Stockton brands,4.3s;Oregon,4.lo;
eastern, 5.00®8.85; shorts, '.on, local, 22.00;
1 oiled barley, per 100 lbs., 1.80; cracked corn,
p. r 100 lbs., 1.15; feed meal, per 100 lbs., 1.20;
bran, per ton, 20.0u; graham, per 100 ibs.,
HIDES—Dry, sound. He; do. kip, lO' c;
do. calf, 13Vic; bulls. 6%C1 sheepskins, 4®
As Indicated by Reports for Twenty
The following data, covering a period of
twenty years, have bl en compill d from tbe
weathi bureau records at Los Angeles,
Cal., for the month of January:
Tern pera ;ure—
.Mean or normal temperature, 53 degrees.
1 he warmest month wa»that of 18:*;, with
an average of 3X degrees.
The cobles', month was that of 1890, with
an average of 411 liegre s.
The highest temperature was 87 degrees,
on Jan. 9, 188 I.
The lowest temperature was 3*l degrees,
on Jan 29, 1880, Jan. 20, 18S3.
Precipitation (ram and meltedi enow) —
Average lor :he month, 2.93 inches.
Average number of nays with .el of an
inch or more, 6.
The greatest monthly precipitation was.
7.53 laches. In 1890,
The least monthly precipitation was ,2u
of an inch, In ISB7.
The greatest amount of precipitation re
corded in any -I consecutive hours was 4.17
Inches, on Jan. 26th, 28th, 1890.
The greater t amount "I sr. wfall recorded
j in any 24 consecutive hours;(record extend
i ing to winter 1884-5 only) was a trace on
Jan. 12, 1882.
Clouds and weather-
Average number of clear days, 17; partly
cloudy i.ays, 3; cloudy days l , 6,
The ii". vailing winds have been from ihe
The highest velocltyi-of Ihe -wind was 48
miles, from the northeSa:, on, Jan. 8. 18S2.
GEORGE F,. FRANKLIN,
Local Forecast Official, Weather Bureau.
The Disincorporate!- Is Again Abroad
in the Land
REDONDO, Dec. 30.—Tbo question of dis
incorporution, which caused so much trouble
ut the neighboring city oi Long Reach and
bus - lioblied up here from time to time, is
again abroad and making a pretty good
showing for itself. 1 hose who favor dtein
corporatlon are ,i host anel they sustain their
peisitie.it with senne very strong arguments.
Gen. C. H. Smith and Miss Smith of Wash
ington, D. C„ registered at the Hotel lie
Mrs. I, N, \ ,ni Nuys and Miss Kate \ an
Nttys of I.os Angeles have come to tbe hotel
to remain lor a few day s.
George E. Stuart was very pleasantly sur
prised by a number of gentlemen friends at
bis home Wednesday evening. The party
WSJ as jolly as stag affairs usually are.
Mr. and Mrs. Win. .lacks of Monterey
registered al the Hotel Redondo yesterday.
Mi. and Mrs. Mi'.'ard F. Roberts anel
Kenneth Roberts of Philadelphia are among
the recent arrival!* at the hotel.
Captain Fred Meyers entertained a party
of friends at his borne Wednesday evening.
Wall paper, late styles, low prices, at A
A. Eckstrom. 321 South Spring street.
Is Fruit Coffee
Most healthful, most nourishing, most eco
nomical. The only logical substitute for
coffee. The careful use of one package will
cure your appetite for ordinary coffee. It
is most attractive in flavor. Prepared In
one minute. 80 to 100 cups, 25c.
For Sale by All Grocers
THE FRUI-TON COMPANY,
Los Angeles, Cal.
I AQIFS JOU desire a transparent, clear i
L/Alsll-O aru j fresh complexion, use DR.
BOURDON'S FRENCH ARSENIC COM
PLEXION WAFERS. In the direction for
which they are intended their effect is sim
ply magical, possessing the wizard's touch
by surely developing a transparent ana pel
lucid clearnes of complex:on. shapely con
tour of form, brilliant eyes, soft and smooih
skin, where by nature the reverse exists.
Even the coarsest ami most repulsive skin
marred by freckles, pimples, blackheads,
florid redness and other facial disfigure
ments, are permanently removed and a de
liclouslv clear and reffned complexion as
sured. Used by men, the results are equally
favorable. Price, per small box 60c. Largo
box,sl.oo; or special order of six large boxes,
$5 00 Send postpaid and under plain wrap-
Tier on re, nt of above amount. Send for
New York Specialists
The only physicians in the city that are grad
uates of first-class medical colleges
an d have diplomas legally regis*
tered who treat diseases of men only.
J cures guaranteed. 25 yrs. experience.
I 230 •i S. Main St., Los Angeles
Allen's Press Clipping-Bureau
990 West Seoond Street
• • "J Los Angeles, Cal.
Furnish advance reports on all contract
work, such as sewers, reservoirs, irrigation
and pumping plants and public buildings.
Personal clippings from all papers In Ac
.. Druggist and Chemist..
222 North Mala Street Lot AsgelM
r\RESCRIPTIONB CAREFULLY COM
POUNDED DAY Oft NIGHT.
Baker Iron Works
LOS AM OKI.MS, CALIFORNIA,
860 to Mt Buena Vista Street,
Adjoining S. P. Grounds. Tel 124
fL Plug Tobacco 9
when they make a " strike," as it is the richest Jp
&r " mother lode" in Tobacco ever discovered. It wK)
has been "worked " for twenty years, and the
vein is as rich and deep as ever, and is always jjk
iW on the same level. It assays " pure and per- fSL
feet." Try the 10-cent piece to-day.
f CHAMPAGNE FLAVOR. \
OLDEST AND 1-AHUEST BAN X IN SOUTHERN CiVLIFGRNIA
pABMEBS AND MERCHANTS, BANK OP XiOS ANGELES, CAL
Capital paid up . ... $500,000.00
Surplus and reserve $925,000100
I. VV. HELLMAN, President, H. W. HELLMAN, Vlce-Pres.; H. J. FLKIQ*t»
MAN, Cashier; G. HEI.MAN. Assistant Cashier. Directors—H. W. PERKXv'O- ™>
CHILDS. J. F. FRANCIS, C E. MOM, I. W. HELLMAN, JR., H. W. HELfLMAN,
A. GLASSEL, I. N. VAN NUYS, 1. W. HELLMAN. '
Special Collection Department. Correspendence invited. Our Safety Deposit Das
partment offers to the public sate 3 for rent In Its new Fire and i;uXglar-Proot Vaults
which is the strongest, best guarded and best lighted In the city.
THE NATIONAL BANK OF CALIFORNIA
At Los Angelea.
Capital and Profits, 8270,000.00
S. C. HURBELL . .... President S. C HUBBE LL , t. E. NEWTJN. O. H.
O. H. CHURCHILL Vice Prcs.dent * WS&^^Vd||
J. E. FISHBURN Vice President yAN CHAS. MONROE, N.W. STOWELL,
A HADLEY Cashier FRED O. JOHNSON, JOH* E.-MARBLIB,
R. I ROGERS Assistant Cashier A. HADLEY. t
I OS ANGELES NATIONAL BANK
United States Depository •
c sv .^ v .t\:::::'^^
w n pattkrsoNPresident W. D. WOOLWfISP Caahlea.
E. W. Cue and A W. Kenney, As. t Cash*
W. C. Patterßon, Warren GUlelen. P. M. Green, * Johnson. Wm. M. Van
Dyke W C. Brown, L. C. McKeeby, F. P. Flint. . .......
This bank has no deposits of either the county « city treasurer, and therefor*
no preferred creditors. i
CECUBITY SAVINGS BANK
Corner Slain and Second Streets
; tf.W. Kellman, J. F. Sartorl.W. L Graves,
r if RARTORI President- » J Fleishman, C. A Shaw, F. O. John.
UAURICE S. HELLMAN. Vice Presidsat son, J. H. Shankland, J. A. Graves, M. I*
W D LONGYEAR CasW Fleming, M. S. Hellman, W. D. Longyear.
interest lruldion term und oral nary depoatta
money loaned on llrst-cln»s real estate
MRsYnATIONAL BANK OF£OS A NGELES
~ v ..fiOO.OOO Surplus and undivided profits over J260,00g
Capital b.0cK..... > r eUdont W. G. KERCKHOFF Vice Presldenl
a r-rnnriij"....Cashier W. T. S. HAMMOND.... Assistant Cashles
DIFUSCTORS-J 'ti'wik J. D. Blck cell, F. Q. Story, H. Jevne, J. D. Hooker.
J ' Purred depos its received at this ban*. |
MAIN STREET SAVINGS BANK
W Capital paid up 8100,000
•» imm. Main, Spring and Temple streets (Temple block), Los A*g«ie».
ASD DIRECTORS—T. L. Duque, President; t N. Van Nuys, Vie*
„ ii:„, q « Duque, Cashier; H. W. Heliman, Kaspare Kohn, H. W. OMelveny,
President » aT . Johnson, Abe Haas, W. G. Kerckhoff.
j, b , ,„. n »don r./'l estate. Interest paid or. term and ordinary deposits.
Money I°*' r"- . ■ , —— ,
*- 230 North Main Street
t p Plater, President; H. W. Hellman, Vice President; W. Id. Caswell. Cashier.
Dlrectors-I. W. Hellman, J. E. Plater, H. W. Hellman. I. W. Hellman, Jr., W. M.
CS Vnte'rest paid on deposits. Money to lo an on first class rca'. estate.
/»jrRMAN-AMEBIC AN SAVINGS B ANK
| U Paid Up Capital and Profits 8150,000.
COR MAIN AND FIRST STS Victor Pcnet. President; L. W. Blinn and C. N.
flint, Vice Presidents; M. N. Avery, Cashier; P. F. Schumacher, Assistant Cashier.
Interest paid on deposits. Money loaned on real estate.
£WTHEBN CALIFORNIA SAVINGS BANK
152 North Spring St. Interest Paid on Deposits
DIRECTORS—J. H. Braly. J. M. Elliott, H. Jevne. Frank A. Gibson, Simon Maier, W.
D. Woolwlne, W. C. Patterson. Safe Deposit Boxes for Rent
gCTJTHEBN CALIFORNIA GBAIN AND STOCK COMPANY
212 1-2 South. Spring Street New York and Chicago Market*
Direct Wires. , References:
Quickest Service. National Bank of Ctllfornla.
Telephone Main 912. Los Ange'es National Bank.
MARGIN ACCOUNTS SOLICITED. COMMISSIONS FAITHFCI LV EXECUTED
Dally report mailed upon application. F. P. BURCH. Cashier.
Glass & Long
Blank Book Manufacturers
213-215 NEW HIQII ST. Los Angefee mono m i.
A New Book, 848 P.i ■:•'■>. Invaluable to
Invalids. By the FOO A WING HKKB CO.
90S South Olive street, Los Ace y.-i CfcA.
DR. T. YV£S. DSL^
Diagnosis and Examination Free.
rANCFR 2K"* s£3
V-<-tVi > V for free book.
Dr. C. W. linger pT TDCn
107% N. Main St. VJUIVLjL/
Los Angeles, QaL i B9BS
za»m Dr. Won&
/3) ''J Highly Educated..
Has practiced medicine seventeen years in
Los Angeles among the best class of people,
and lias the respect and confidence of all
who know him. Pulse diagnosis. Herb
treatment. Consultation free.
Office and Sanitarium,
713 SOUTH MAIN STREET.
r ♦♦»♦♦♦♦♦♦♦♦♦♦♦ t«Mt«M»t»
lis Crystal Palace I
... IS NOW OPEN ... ' I
* ; Meyberg Bros. 343-345 s. spring st 3;