The herald. [microfilm reel], August 03, 1898, Page 11, Image 11

About The herald. [microfilm reel] (Los Angeles [Calif.]) 1893-1900

Image provided by: University of California, Riverside; Riverside, CA

                
THE INVESTOR
: Conducted by GEO. A. DOBINSON
ASSESSMENT POLICIES
THE CRYING NEED FOR BETTER
REGULATIONS
THE GOVERNMENT'S BIG JOB
issuing' the New Bonds a Gigantic
Task—A Building and Loan
Failure—Policy Liens
OFFICE OF THE HERALD,
Los Angeles, Aug. 2, IS9S.
The regulation of assessment Insurance
companies is giving some state officials
much concern. The Inadequacy of the laws
governing these institutions has caused
more or less confusion, and now that some
are offering policies with "limited pay
ment," "level premium" and "surrender
value" features It is urged that they bo
required to collect such premiums as will
make possible tho carrying out of all prom
ises made to policy holders. In a recent ls-
Bue of The Herald a quotation was made
from the annual report of James R. B. Van
Cleave, Insurance Superintendent of Il
linois, to Governor Tanner, and a further
extract is hern added. The Superintendent
says he believes that the- law should be so
amended as to clearly detino, upon a cor
rect business and insurance basis, the con
dition of solvency which must exist to en
able an assessment association to carry on
its business in that state, that the inter
ests of policy holders who choose this kind
of insurance may be properly guarded and
protected. Wise provisions of law, clear
and positive ln their terms, have been en
acted for the protection of holders of poli
cies of other classes of insurance. The law
should furnish equal safeguards to holders
of assessment insurance policies, and
should empower the superintendent to
Withhold or cancel the authority of an as
sociation which is unable to meet the test
of solvency so established,
Such amendment Is tho more needed be
cause many associations are now Issuing
policies very similar in their terms, condi
tions and provisions to the policies of tbe
regular reserve life Insurance companies.
They arc issuing limited payment policies,
policies for level premiums through life
with the assurance given by agents and
put forth in circulars and advertisements
that no additional premium payments will
be needed, nnd policies giving options of
cash surrender values and paid-up or ex
tended Insurance. The amendments to the
law should be such as to require the col
lection of adequate premiums to carry out
the promises made and prevent the diver
sion of these overpayments from the pur
pose for which they were collected. Regu
lative measures of this character would not
Injure any association which is entitled to
live and receive tbe confidence nnd patron
age of the public, but would be ln the
line of better protecting the Interest of the
large number of our citizens who prefer
this kind of insurance, and would protect
the worthy associations which are seek
ing to conduct their affairs on an Intelli
bent business basis, and to put Into prac
tice those Insurance principles essential
to success.
Distribution of the Bonds
The Treasury began to distribute the now
bonds on Monday, July 25th. There are,
it is estimated, over 230,000 subscribers for
bonds In sums under $500. and about 80,0110
for the larger .amounts. The bonds are be
ing distributed now In amounts ot $20 and
upward to $.'OO. Secretary Gage has made
the following statement regarding the de
livery of the bonds:
"The public mind is poorly prepared to
comprehend the enormous labor and mul
titudinous details connected with this great
popular loan. In tho first place, after the
rejection and return of thousands of sub
scriptions to which no allotment could bo
made, there remain about 300,000 persons
to whom bonds will be allotted and for
warded In due course by express. It is not
a question only of 800,000 names, The name,
including state, county, town, street and
number of each subscriber must be tran
scribed and rewritten ln various ways at
least ten times. This Is equivalent to en
tering once, thus fully extended, 3.000,000
or more names. This mere clerical work
is. however, but a part of the problem. Tbe
collection of checks and drafts received In
payment for the bonds, tho computation
of interest, the preparation of checks in
settlement for same, the engraving and
priming of some ten kinds or denomina
tions of bonds, the accurate disposition of
these In envelopes properly addressed—all
those are parts of the problem that must
be solved without error or omission. One
simple fact will Impress the mind with tho
magnitude of the operation. Each en
velope must be sealed with three seals,
which means that 900,000 seals in wax must
be imprinted on the covers to outgoing
bonds. Another Important feature Is the
limitation on the liability of the express
agency to receive, forward and deliver the
bonds after they are committed to its
care for this purpose. This limitation is
estimated by the express company at 5000
Items per day. Possibly if this limitation
of ability did not exist tbe express com
pany would receive as fiduciary agents
12,500,000 of the securities per day, and if
It required an avcruge of three days to
make deliveries thero would be a continu
ous trust of $7,500,000, as large an amount,
perhaps, as the responsibility of the ex
press company would Justify. These facts
thus cited go to show that, while sub
scribers In the sums of $4500 or less may
rest secure ln the certainty that the bonds
will come to them In due time, they mus_
patiently await the operation of the Gov
ernment machinery. It Is understood that
deliveries on subscriptions of $500 and less,
for which the money has all been received,
will bo made before the larger subscrip
tions aro attended to. Of these small
subscribers there are 230,000 In number,
and it Is estimated that forty days will be
required for the delivery of their bonds.
From this it will appear that subscribers
In amounts larger than $500 will not begin
to receive their bonds until after Sept. Ist.
From that date on the bonds will be put
In the hands of the larger subscribers
quite rapidly, since, numerically speaking,
they aggregate less than one-third of the
Dumber of subscribers."
A Building and Loan Failure
A dispatch from Milwaukee dated the
86th ult. says the complete report of State
Bank Examiner Kldde on the affairs of the
Home Building and Loan Association, of
which John Harvey Myers was Secretary
and Treasurer, shows the amount of stock
liabilities to be 8857,998.57; other liabilities.
EIOO. The total assets amount to $42,151.
s figures are based on the showing of
books up to Jan. Ist. since which tune
no record of any kind appears to have been
kept. There will be no returns to uns' one
who had money ln the concern. Some of the
best-known business men of Milwaukee
are connected with this association. Julius
Wechselberg Is President. Myers was also
Secretary and Treasurer of the Mutual
Building and Savings Association. The
Home Association was organized about
eleven years ago. Myers has been the
prime mover in the concern, and the di
rectors trusted him implicitly.
Policy Liens
It Is said that the scale of liens on poli
cies Issued under the nutural premium plan
by the National Life Association of Hart
ford has been found Insufficient. Policy
holders have accordingly been notified that
to avoid making assessments the amount
of the lion on policies must be increased.
If the policy holder consents to the In
crease, the Hen can remain at 4 per cent
interest, Instead of at 5 per cent. It is said
that the Hen Is Increased from about 25
per cent. In the case of the younger policy
holders, to 50 per cent among those of ad
vanced age.
The scale of liens was 1 adopted by the
company several years ago. According to
the original plan each policy hnd a loading
or Hen (In addition to the premium) bear
ing interest at the rate of 6 per cent, which
unless paid or canceled by dividends Was
deducted at maturity of the policy. It was
stipulated that members might bo as
sessed 5 per cent of the face of the policy
ln tho event of the company requiring It.
Demand for Three Per Cents
The forthcoming 3 per cent United States
bonds are now being bid for by brokers at
104 or over, and transactions of considera
ble magnitude for the delivery of the bonds
"when Issued" have been made at this
figure. The Issue price having been par,
says the New York Post, these sales repre
sent an advance of 4 per cent even be
fore the bonds are in the hands of the
successful small subscribers. Tho demand
appears to com© from institutions wishing
to reinvest their semi-annual Income and
In a considerable degree from banks plan
ning to use the bonds as a basis for In
creased circulation. It ha,s been common
ly believed that this use nf the new gov
ernment bonds for purposes of bank note
issues would very considerably expand the
money circulation of the nation. Such was
manifestly tha result of the bond Issues
during the civil war, when the supply of
national bank notes rose from 831,286,000 in
the middle of 1564 to 8281,479,000 two years
later, and to $354.405.000 in 1875, when the
bond conversion operations had caused
very general shifting in tho ownership of
the government's bonded debt.
British Pacific Cable
A London special says: "The Pacific cable
Is again moving. Hon. Mr. Muloek, Cana
dian Postmaster General, met the Aus
tralian agents-general, nnd went fullyTnto
the best means of bringing the project to
a conclusion, especially In view of the
probability that unless the British cable
Is shortly laid the Pacific may be crossed
by nnn-Brltlsh telegraphs, namely, a cable
from San Francisco to Hawaii, with ex
tensions to New Caledonia, connecting with
the French cable to Australia."
Transfers, $1000 and Over
(Daily Statement.)
Caroline Mondon to A. Kinney—Blks
4, 3, 6, 10 to 17, Menlo trt $7,700
Fiances W. and A. C. Rush to Minnie
Krentlei—Part Sec. 2, 8 N. 16 1,200
Sylvia H. Thatcher to S. Thatcher-
Lot 18 and part lot 3, blk A, Lowell
trt 1,200
Carrie and S. Cahen to W. O. Dun
ham and I. W. Fry—Lot 7 of Conn's
partition of lots 26, 27. 29 and 32, of
N, part of Ro. Paso de llartolo 5,150
David L, Goade ot al. to W. J. Goade
—Und, % Int. in Part Sec. li), 1 S. 10 1,000
W. H. Workman et at. H. W. aaj
M. A. Keller to G, Montgomery,
bishop of Monterey and jj. A. —Lots
19 and 20, blk I, Workman Park trt. 1,000
Rebecca L. Dorsey to L. C. Dosch—
Lot 12, blk C, Shafer ft Lantcrman's
sub. of Montague trt 1,500
Eighteen transfers under $1000, of
which two were nominal 7,261
Total $26,011
Mortgages, $1000 and Over
(Daily Statement.)
J. W. Alexander et al. to Ida V. Ols
hausen—Part Sec. is, 2 S. 13, 2 yrs,
11 per cent $2,500
J. F. Humphreys to Amelia F. Hum
phreys—Sec. 27, 4 N. 15, 2 yrs, 9
per cent 9,000
W. O. Dunham and I. W. Fry to Mrs,
Carrie Cahen —Lot 7. Cohn's parti
tion of lots 26, 27, 29 ami 82, of N
part Rd. Paso de Bartolo, I to 4
yrs, 8 per cent 1,000
D. L, Goade et at. to Covins Valley
Hk—Part Sec. 10, 1 S. 10, 3 yrs, 10%
per cent 1,150
J. li. Althouse et at. to K. M. Baker
—Part lots 2. 4 and 6, Patterson trt,
1, 2, 3 yrs, 10% per cent 1.100
Seven mortgages under $1000 4,650
Total $19,400
Releases, $1000 and Over
(Dally Statement.)
Elizabeth Balbridge to I. M. Baslley
et al., 449-135 $1,725
W. Stevens to R. P. and J. E. Waite,
351-108 l,l!04
Security L. ft T. Co. to D. L. Goade,
4!i:;-2S0 1,050
National B. ft L, Ass'n to J. W. Alex
ander, 343-123 2.500
Thirteen transfers under $1000 5,963
Total $1i,544
ON 'CHANGE
Conditions as Shown by Transactions
on Wall Street
NEW YORK, Aug. 2.—The tendency of
the speculation ln railroads stocks to sep
arate itself from that In the Industrial spe
cialties became more marked today than
yesterday. The industrials have not yet
fallen to a ronlor place In the speculation,
as they are likely to do at any time when
a widespread general demand springs up
for standard railroad securities, but there
were evidences of a culmination of specu
lative movements ln some of them today,
and the realizing was covered by manipu
lative advances in others. Brooklyn Tran
sit and Rubber were the most conspicuous
sufferers from liquidation, and While To
bacco and Cotton Oil continueci to advance,
by far the most significant »novement in the
market was the enlurgefjlemand for rail
road stocks. This was most conspicuous in
the Grangers, but the Pacific railroads
also shared In the movement, and there was
a distinctly broadening tendency on traffic
all through the list.
The fact that gold Imports were fairly
Inaugurated today with the announcement
that over $2,000,000 was engaged in London
for import and over $1,500,000 shipped from
Sydney for San Francisco, had a sentimen
tal effect In hardening the market. There
was nothing in the local money market,
however, to Indicate tha need of additional
funds. The sub-treasury is again losing
largely to the banks on account of war ex
penditures and there if no appreciable de
mand from the interior, ln spite o£ the
large Increase In business and the move
ment of the crops.
The bond market was active in middle
and low grade issues, which generally ad
vanced. Total sales, $3,245,000.
United States threes touched 105 today
on sales, and the governments were strong
all around on the announcement by a treas
ury official that there would probably be
no need of another Issue on account of the
large receipts from the war revenue.
Money Market
NEW YORK, Aug. 2.—Money on call,
steady at l%s>i% per cent: last loan, 1%
per cent; prime mercantile paper, 3%@4 per
cent; sterling exchange firm, with actual
business In bankers' bills At «.BtO4JSSa for
LOS ANGELES HERALD t WEDNESDAY MORNING, AUGUST 3, 189S
demand and 4.88H4 '-83% for CO days; posted
rates, 4.54%*<4.>>5 and 4.56%; commercial
bills. 4.K7%; •liver certificates, 58%g>59%; bar
sliver, 59%; Mexican dollars, 45%; govern
ment bonds strong; state bonds dull; rail
road bonds strong.
Closing-Stocks
NEW YORK, Aug. 2.-The following
are the closing prices on the New Kork
stock exchange today:
Atchison 13% do 2d pfd.... 23%
do pfd.... 31% St Paul HKl'i
Baltimore * O. 12 do pfd 157
Canada Pacific.. 84 st P & Omaha... S4
Canada South.. 53% do pfd lift
C Pac ex 16% st i' M& M ISO
Ches ft 0hi0... Southern Pacific. 20
chl & A1t0n....160 so Railway 8%
Cl!ft Q 107% da pfd 31%
Chi ft E 111.... 56 Texas ft Pacific. 12%
CCO* St 1... 42 v P pfd 02%
do pfd.... So V P D&U 5
Del & Hudson.los Wabash 7%
DI. A W 119% do pfd 19%
Del ft RiONQ..., 12% Wheel & L E.... 1%
do pfd.... 60% do pfd 12
Erie (new) .... 13% Adams Ex 102%
do Ist pfd.. 84"% American Ex....136
Fort Wayne....170 United States Ex. 41
Ot Nor pfd. ex Wells Fargo 118
dlv ex rights.l 29 Am Cotton OH._ £«%
Hocking Val... 5 da pfd...'... *0%
| Illinois Cen ....107 Am Spirits 12%
Lake E ft W.. 14 do pfd 36
do pfd.... 71 Am Tobacco 125%
Lake 5h0re....192 di« pfd 130
Louis ft Nash.. 63% people's Gas .... 99
Manhattan L..106% Con Qas 198%
,M<tSt Ry 134 com Cable Co. ...170
( Mich Central...lo7% Col F ft 1r0n.... 19%
Minn & St 1,.... 28 do pfd 90
do Ist pfd.. 86% cien Electric 40
Mo Pacific 32% Illinois Steel .... 58
Mobile ft Ohio. 27 La Clede 0a5.... 5%
M X cXktt.... 11 Lead 37%
do ' ptd..., 34 do pfd 109"%
Chl A L 10 Nat Linseed Oil.. 7%
do pfd.... 35 pacific Mail 31%
N J Central.... 90% Pullman Palace.lß9%
IN \ Central...list.. Silver Cert 58%
I N YC ft St L.. 12% Standard R* T. 4%
do Ist pfd.. 60 Sugar 13W 8
do 2.1 pfd... 38 do pfd....113%
Nor West u% T C & Iron 23%
N Amer C 0..., 6% fj s Leather 7%
North Pacific, nil do |>fd OS%
do pfd.... 72% U S Rubber 40%
Ontario> & W., jr. do pfd 7<%
'X'" &* - v^ r - <»% W. stern Union.. 93
Ore Short Line 29 Chicago ft NW..ISBW
Pittsburg 170 do pfd 175 '
Reading . .... 17% Chicago ft O W. 15%
Rock Island.... 97% St Lft S W 5%
fet L ft S F„.. 7J5 Reading Ist pfd.. 41%
do Ist pfd.. 61% Brooklyn R T.... 58%
Bond List
NEW YORK, Aug. 2.—The following
are the closing prices o£ bonds on the New
\ork stock exchange today:
U S nessjs reg. 127% NJC 5s 112%
do c"oup....itfU N Carolina 65....126
U S 4s ill do 4a 102
do caup....1i1% n Pacific lsts.... 112%
do ads 97 do 3s 62%
US 3s reg 111% do 4* 99%
do 5s coup.ni% NvCft St L ...-I(i7
District .Is 65...116% Nor ft W 'Is 121
Ala Class A... .10H N W Consols. ...141U
do li ioo do deb 55....117'j
do C 90 O Nay lsts 112
j do Currency 90 do 4s '17%
! Atchison 4s .... 95% o S Line Us t r,.125
I il" adj 45.. 70% do 5s t r W<
Can So 2ds ]i) 9% I'aclllc 6s of 95...102%
Can Pac lsts.. — Reading is 82%
Chicago Term.. 56% R Q W lsts &9
C ft Ohio 55....115 S L& 1 M con ss. 99
CII ft I) 4%5...104% S I. ft S F gen Us.ilSi:
D ft R Gists..lo9% St P Con 145tt
I) ft Rtl Is ... ml St p & (' p lsts..AS
East Term lsts. 1094? do 3s lb?
Brie Gen 45.... 73% So Railway 35... 95
FWft D lsts tr 73% S C non-fund...—
Gen Elec 6s lot s R ft T 6s 67
G H ft s a 65... 104 Term new set 35.. lint
do 2d«....105 Tex PL G lsts. .108
II ft T C 55....110 do reg 2d5... 43%
do Con 65.11 l Union Pac 4s 07%
lowa C 15t5....101 U 1 J D ft G Istß.. 74..
X PContr....— Wabash Ist 55....i1l
KPlst(DD)tr— do 2ds R9
L A new con 45.103 do 3s SI
Lft Units 5.)% va Centuries.... 72
Missouri 6s 10) W Shore 4s 10!)
M X ft T 2ds.. 63% U P pfd 59%
do 45.„... SO-iJ Va Centuries.... 72
N V Cen 15t5..116 do dfd 4
Spanish Securities
PARIS, Aug. 2.—Spanish fours opened at
39.7. Yesterday's closing was 39.57.
LONDON. Aug. 2.—Spanish fours opened
at 39%, a net gain of %. Later they reacted
to 39%.
Silver Bullion
SAN FRANCISCO, Aug. 2.—Silver bars,
s"f%c; Mexican dollars, 46@46%c.
CHICAGO MARKET
Prices and Prospects of the Trade In
Cereals
CHICAGO, Aug. 2.—Better Liverpool ca
bles than expected. In addition to the dis
position manifested by farmers to hold
their new crop for advanced prices, caused
a bullish feeling in wheat at the opening.
Chicago got only 130 cars, again.-" 331 a year
ago. Minneapolis and Duliiih reports*'B2
cars, compared with :171 the year before.
Receipts at other important western points
being disappointingly small, added t,n the
firmness with which trade commenced.
Not much attention was given to a dis
patch from Washington saving that mc
Russian government would probably issue
a ukase prohibiting grain exports on ac
count of sinali stocks and crop failures.
Some such report was received here during
the Loiter deal and today's rumor was gen
erally believed to be the same original story
polished by some enthusiastic bull who
possessed v knowledge of the general for
getfulness of the speculativeorowds. Prices
Uem were kept strong on statistical fig
ures until the continental markets turned
weak. Paris came 1 cent a bushed lower,
and Antwerp snowed a decrease of from
1% to 4 cents a bushel. September, which
was selling lure at 64%0, declined to 64%e
on the showing of weakness abroad. There
was evidently lots of short wheat to cover
weak spots anil the price did not remain
down more than a few minutes. Thy close
was V't%o higher for September and Wu 14c
higher for December.
The "longs" In corn could not stand up
against the general bearish sentiment in
duced by the liberal rains of the last few
days. Holders of puts and shorts were
good buyers at the decline. September
closed %c lower.
Oats suffered fractionally with com.
Traders who bought liberally last week
were Fellers today. The close was %c lower
for September.
Lower prices for hogs at the yardre>-I>>
aether with the decline In corn, weakened
provisions. Packers liquidated freely. <>ork
dropped 30c, lard 10Q12Vic, and ribs 10c.
SAN FRANCISCO MARKET
Call Board Dealings and Prices ot
Produce
SAN FRANCISCO, Aug. 2.—Corn—Large
yellow. 1.10111.12%.
Bran—[e-mail] per ton.
" Flour— Family extras, 4.40(fN.G0 per bbl.;
bakers' extras. 4.1504.25.
Wheat—Shipping, 1.17%©1.20 per cental;
milling. 1.8001.40.
Barley—Feed, L17%@1.20| brewing, UMW
'"oats—Poor to fair, 1.17%@1.22%: good to
choice, 1.2.Vq1.30: fancy feed, 1.32%; gruy,
1.22%'?1.25: milling. 1.22%'81.27%; surprise,
L82V401.86.
MUlStuffs— Middlings. 18.00(320.00 per ton:
bran, 15.005f1G.00.
Hay—Wheat, 14.00 , 5l8.00; wheat and oat,
14.00W17.0O; alfalfa, 12.00® 18.00; barley, 14.00
£116,00.
L>rv Beans—Pink. 2.505T2.G0 per cental,
small white 2.00ff12.13.
Vegetables—Onions, 70080 c per cental;
green peas. 2.504J.3.00 per sack; tonfltfOeS,
l©l%c per lb.; rhubarb, 60<875c; squash,
50c.
Fresh Fruits — Pears, Bartlett, 85c
100 per box; strawberries, 2.00«ff4.00 per
chest; gooseberries. 14i'l%e: cherries, black.
40060 c; white and red. 16080 c; nutmegs,
1.00©2.00; peaches. 75@*0ci apples, 78C01.SO;
cantaloupes. 8.0004.50,
Eggs—store, lofflTe per dozen; fancy
ranch. 20<a ; 23%c.
Butter—Fancy creamery, 20c per pound;
do. seconds, 20c; fancy dairy, 18c; do.
seconds, 191i20c.
Poultry—Turkey gobblers, Wtlic per lb.;
old roosters, (,0004.60 dozen; young roost
ers. 4.00:85.00; small broilers, 2.00412.60: large
broilers, 8.005J3.50; fryers, 3.60ii4.00; bens
8.60®5 W; old ducks, 3.00533.25; geess, T6c@
1.00 pair; old pigeons, 1.25; young pigeons.
* f?itrus Fruits—Navel oranges. LW01.71
Mexican limes, repack, 650(56.00; common
California lemons. ; choice, 1.50rgi2.50.
California Fruit Sales
CHICAGO, Auk. 2.—California fruit sold
today:
Pears-Bartlett, 18001.60. „ . ■
Plums—Diamond. 1.20; yellow egg, I.lo®
1.35; Columbia. Csc(frl.os; Purple Duane, 70c
ill 15.
NEW YORK, Aug. 2.—California fruit
Bold today:
Plums—Eureka, 8.55: Kelsey Japan, 2.50;
Washington, 69c®1.0.V, Quackenbos, 1.004j>
-iPiirh, 90c; Purple Duane, SSeO
1.35; Columbia, 75c«1.05; Burbank, 85oS?1.20;
Bradshaw, Wi7sc.
Prunes—German. GOia-95r; Tragedy, SOcfp
1.30; Hungarian, 70cii1.70; Bulgarian, 85c.
Pears—Bartlett, 1.351111.80.
Cherries—Koyul Anne, IK/dSOc.
Available Grain
NEW YORK, Aug. 2.—Special cable and
telegraphic advices to Braastreet's, cover
ing the principal points of accumulation,
indicate the following changes In available
grain supplies last Saturday, as compared
with tin- preceding Saturday:
Wheat —United State! and Canada, t-ast
of the Rocky mountains, decrease, 314.C0
bushel's; afloat for and in Europe, decrease,
r,,4JHi,i)OO bushels: world's supply, total 'de
crease, 6,714.000 bushels.
Corn-—United States and Canada, east of
the Rockies, decreusc, 1.457.000 bushels.
Oats —United States and Canada, east of
the Rockies, decrease, 1,017,000 bushels.
London Markets
NEW YORK, Aug. 2.—The Evening
Post's London financial cablegram says:
Today's stock market opened lifeless, but
the tone was rather good. Americans
closed at the best. About half a million dol
lars of gold was bought ln the open mar
ket, chiefly for tbe continent, but some
was taken for New York. Spanish stocks
were better. The Paris and Berlin markets
were firm.
Dried Fruit Prices
NEW YORK, Aug. 2.-California dried
fritits dull.
Evaporated Apples—Common, GftSo per
pound; prime wire trny, 8%®8%c; choice,
B*®9c; fancy, S%c. —
Prunes—i'y Sc.
Apricots—Royal, SViTlOe: Moorpark, 10-!j)
12c.
Peaches—Unpeeled, s'f/Sc; peeled, 12^180.
Kansas City Live Stock
KANSAS CITY, Mo., Aug. 2.—Cattle—
Receipts, 9000; market steady to strong:
native steers, 4.001/5.30: cows and heifers,
1,a0@4.60: stockers and feeders, 2.5W<6.1«:
bulls. 3.0008.75.
Shuep — Receipts, 12,000; market firm;
lambs, i.OOftfC.lO; muttons, 3.00cr?4.20r
Petroleum
OIL CITY, Pa,. Aug. 2.—Credit balances,
90c; Certificates closed, IfiVic bid for cash
oil; sales. 10.000 barrels cash oil at 95Vie;
shipments, 03,791; runs, 51,940 barrels .
Local Quotations
BUTTER—Extra local 32-ounce squares,
Wd&2'/ic: fancy creamery, northern, 32-oz.
squares, 46047 ft; diary,Sl-OS., 434® 46; dairy
28-os. squares, 40c; fancy tub, per lb.,
22'02,1c.
F.GGS—2off2lo per dozen.
CHEESE—Martin's New York Cheddars,
per lb.. 13c; eastern full cream, per lb.,
1,1 c; California half cream, per lb., l"c;
coast full cream, per lb., llttc; California
Downey or Anchor, per lb., 13c; do. Young
American, per lb., 14-; do. 3-lh. hand, per
lb.. 15c; domestic Swiss, per lb.. 20c.
POULTRY—Per dozen: Hens, 3.50fi5.00:
young roosters, 4.00®5.00; old roosters. 3.50
4.00; broilers, 2.0002.50; fryers, 'i
ducks, 3.00@3.60; turkeys, alive, per pound,
lO&llc; geese, apiece, ToctQ 1.00.
POTATOES—Burbanks, BOCOI.OO,
VEGETABLES—Beets, per 100 lbs., 80c;
cabbage, per 100 lbs., Go6<"7se; carrots, per 100
lbs., 75c; chiles, dry, string, 1.00fy1.25; Mex
can. per lb., 50c; green, per lb.. Gfjj7c; gar
lic. S®t; onions, 76®80c; do. green, per doz.,
doz., 20c; green peas, B®4c; turnips, 85c;
parsnips, cucumbers, 75080 a box.
GREEN FRUlTS—Bananas, bunch, J1.50
2.25; strawberries, com., s(afic; fancy, 8®
12c; blackberries, 4'l/tic; loquats,
rles, white, 46060; do. black, 45W00; apricots,
per box, 50c; raspberries, per box. 80luc;
e/i7c; gooseberries, per lb., 3®4c; currants,
box, 60t)65c; Logan berries, per box, 4<g6c;
4®6e; llgs, per box, jo'tfCOe; peaches, per
box, 70075 c.
RAISINS—Fancy clusters, 20-lb. boxes.
2.00; 4-crown L.L. clusters, 1.75; 3-crown
L.L., per box, 1.35; 2-crown, ioose. In sacks,
per lb., 4c; 3-crown, loose ln sacks, per lb.,
6)4.®694cj 4-crown. per lb., sVb®t!c;
peas. 3.7608.00; black-eyed beans, 3.00; gar
ner shell, 12W130; hard shell, 7@Sc; pecans,
7c; roasted, California, raw, 4®sc;
12.50V13.00; loose. 12.00.
LAUD—Rex pure leaf, tierces, 8c; spe
cial kettle rendered lard, &%c.
CITRUS FRUITS—Fancy navels, 2.2575
2.40 per box; fancy seedlings, 1.7302.00.
Cured fancy, 1.5002.00] choice, 1.25; green
lemons, l.oo; grapefruit, per box, 8.0004.00.
DRESSED MEATS—AII per lb.: Beef,
No. 1, 6\c; No. 2. 6Vic: hind quarters. No. 1,
9c; hind quarters, No. 2. 7c; ribs of beef,
10c; veal, 707%e; mutton, 7V4'.': lamb, 8c;
pork loins, ie'lic; legs of pork. SV4c; pork
spare ribs, tic; pork tenderloins, 15c.
LIVESTOCK-Per lb.: Beeves, 30114 c;
hogs, 4Vtc; lambs, per head, 1.6002.00: sheep,
per cwt.. 8.50®3,50; calves, per lb.. 3c.
CURED MEATS—Rex hams, 10'4C; pic
nic hams, sVzc; No. 2, B%c: select mild cure,
11c; fancy breakfast bacon, 1194 c; dried
beef, smoked tongues, 50c; dry salt
clear bellies, 16-20 ay., BMic; dry salt clears,
35-40 ay., 7 r )sc; salt clear backs, 7toc.
TALLOW—Per lb., B>4©Bl4e.
WOOL—Nominal.
HONEY AND BEESWAX—Honey In
wax. 20®26c per pound.
BEANS AND 1 >H1 BD PEAS-Pink, 3.2573
3.50; Lima, 3.2603.60; Ltidv Washington,B,4o
7(2.50; small white, 2.5002.60; green Held
peas. 2.7503.00; block-eyed beans, 3.00; gar- i
vancos, 4.00®4.50; lentils, imported, 7700®
8.00; lentils, California. 3.5f1fi.4.00.
DRIED FRUITS—Apples, sun dried,
sacks, per lb.. 54i®60; evaporated fancy,
60801 apricots, fancy, 8c; choice, tj'gßc;
peaches, fancy, unpeeled, s(g7c; pears, fan
cy evaporated, S'oloe; plums, pitted, choice,
9®loc: prunes, choice, boxed, GfyOj; sacked,
4tyCc; dates, sliver prunos. ch'otce,
sack, 7%®Bc; boxes, 9® 10c; figs, California
white, per lb., 6fr7o; California black, per
lb., S'itSVtc; California fancy, per lb., ViQ
10c; Imported Smyrna, 12H®l5e.
NUTS—Walnuts, Los Angeles, 47?5c; pa
per shells. 12018 c: hard shell, 7'iiSc; pecans,
9'yJ2c: lilherts. 12flil2V4c; Brazils, H®l2c;
pfnons, lOfff 11c: peanuts, eastern, raw, 6H"iP
7c; roasted, SgSlfec; California, raw, 405 c;
roasted. 6UO7C.
MILLSTUFFS-Flour, local mills, Tj.2o
per bbl.; Stockton brands, 5.25; Oregon, 5.00;
eastern, 6.0006.76; shorts, ton. local, 23.00; j
rolled barley, per 100 lbs.. 140; cracked corn,
per WO lbs., 1.05; feed meal, per 100 lbs., 1.10;
bran, per ton, 21.00; graham, per 100 lbs.,
2.70.
HAY—Wheat, per ton, 15.00ff22.00; barley.
17.00W18.0O; oat, 17.00080.00; alfalfa, baled,
13.60013.00; loose, 12.00.
GRAIN-Wheat, No. 1. 1.65; No. 2, 1.60;
corn, small yellow, 1.25; large yellow, 1.05;
barley, common. 1.35.
HIDES—Dry (as they run), 14c; do. kip,
ll'/sc; do. calf, 16c; bulls, 7c; salt steers,
•V4®s',4c; do. stags and bulls, 3W®4c; cows,
6w»7c; sheepskins, otjifOc.
WEATHER AND CROPS
Conditions Prevailing Throughout
Southern California
Following is the United States department
of agriculture climate .and crop bulletin of
the weather bureau for Southern California
for the week ending August 1, lJ;t»S:
Clear, moderately warm days and cloudy
or foggy nights occurred In the coast sec
tions, while ln the interior very hot, clear
weather prevailed during the past week,
some correspondents stating thnt the week
was the warmest of the season. No rain
fell, which Is tbe nomal condition at this
period of the year, but the moisture from
the fogs ln the coast section was beneficial
to vegetation. The lack of irrigating water
Is becoming appreciable, a report this week
stating that the oranga trees are suffering
from the want of water and fear Is enter
tained that the fruit will drop unless the
trees are Irrigated soon. Peaches are ripen
ing rapidly. The yield varies greatly, some
places reporting a light crop, while others
state that the crop will be excellent, ln
yield and quality. The raisin crop ln the
southern sections will be light and grapes
will be of an Inferior quality.
Extracts from correspondents' reports by
counties:
San Luis Obispo County
San Luis Obispo City—Favorable weath
er conditions prevailed during the week.
Ventura County
West Satlcoy—The week was generally
quite foggy: fruit drying is about over and
the dried fruit mostly sold; the yield was
not up to expectations.
Bardsdale—The weuther conditions w ere
about normal; the limited acreage planted
to beans will produce a short crop on ac
count of infrequent fogs this season; the
apricot crop on high lands was light; the
prune crop Is only nominal; the peach crop
Is light.
Los Angeles County
Los Angeles City—The days were warm
and clear; the nights were generally cloudy,
with fuoquertt light fogs In the early morn
ing; no rain fell. Which Is the normal con
dition at this time of the year; irrigating
water is becoming scarce; heavy forest
Ares occurred in the Sierra Madre moun
tains Saturday.
Falrmount—The weather has been very
warm and dry throughout the week, being
the warmest week we have experienced this
summer.
West Palmdale—The weather was very
warm all the week, though there was a
daily lea brtese; threshing is ln progress:
hay "baling is not yet finished; one vageta
MEN NEED NOT
PAY TILL CURED
DR. MEYERS 8 CO.
Ktitabllshsd 17 yours.
NERVOUS rXBBILITY. — These
physicians have reached that degree
of perf.-rtion in restoring partial or
compietp loss of vital power in men
which have never been obtained by
any other physicians. Their system
of rroatnu-nt and their incomparable
remedies, methods and appliances
give to men that true, robust and per
fect manhood so anxiously sought for
and which cannot be found except
at Ihe hnnrls of these able specialists.
All contracted ailments quickly and
permanently If you cannot
visit the city write for private bonk,
question, list and advice— all free,
betters confidential. Hours. 9to 12,
1 tn 4. dally; evenings, 7 to 8: Sun
days, 9 to 11. 21S Bnuth Broadway,
Lofl Angeles. The only reliable and
the only legally registered physi
cians In Southern California treating
every form of weakness and diseases
of men.
NO PAY TILL CURED
Take elevator. Private entrance,
room 413. 21S S. Broadway.
bles from the foothills are In the market;
there are forest llres on tbe government
reservation,
Verdugo—The weather has remained
about as reported last week; peaches arc
ripening, but are smaller than the average
land the indications arc for a short crop;
j growers are preparing to dry peaches.
I Artesla—There wre high or low fogs
every morning during the past week, wfiieh
were favorable for all crops; a brisk south
west wind prevailed all the week.
San Bernardino County-
North Ontario—The past week was the
warmest of the summer; peaches nnd nec
tarines are being sent to the dryers; tho
navel orange trees tire very full.
Riverside County
Armada—Very warm weather occurred
In the valley; orchards are looking well,
despite the extreme hot weather and tbe
economy with which water has been used,
on account of the short supply.
Orange County
Caplstrano—Favorable weather condi
tions prevailed the past week.
Westminster—The days were warm and
the nights foggy and wet: vegetation Is
growing finery where the soil is not burned
out; the pasture lands are overstocked and
feed is getting scarce.
San Diego County
Ban Diego City—Notwithstanding the
light rainfall of the past season, i*he fruit
crop continues to be remurkably goQd;
peaches are abundant and tire of rine flavor
and size; prunes and plums are beginning
to mature, and the outlook is better than
for years; smaller fruits are bearing stead
ily; melons are not as plentiful as usual,
owing to the scarcity of water in the warm
er portions of the county, where they are
grown.
Fallbrook—The weather has been a little
hazy and sultry, with some Indications of
rain; peaches are ripening; there are scarce
ly any olives.
Valley Center—Several hay balers are at
work In this valley.
San Marcos—Two steam threshers are at
work ln this vicinity.
Poway—Fruit is ripening fast; early
[apples and crab-apples are plentiful,) also
early varieties of peaches,
Ramona—Nearly all the hay has been
baled ln this valley; threshing will begin
soon.
Santee—El Cajon—Fine weather has pre
vailed for fruit drying: peaches are ripening
rapidly; the crop, notwithstanding the dry
weather, is an excellent one; the raisin
crop, from present indications, will be light
and grapes will be of an inferior quality;
tbe pear and prune crops will be good ones,
though not many prpnes are gWWn here;
orange trees are suffering for want of water
and somn fear is entertained that tbe fruit
will drop unless the trees can be Irrigated
soon; only one-fourth the usual' quantity
of water Is being furnished consumers,
GEORGE K. FRANKLIN.
Local Flrecast Official, Weather Bureau.
State at Large
SAN FRANCISCO. Aug. 2.—The follow
ing is a summary of the weather and crop
conditions existing in California for the
week ending August Ist. as compiled by
tbe department of agriculture fur this di
vision :
The most marked feature of the weather
conditions during the past week has been
the unusually nigh temperatures in the
interior of the state, which have ranged
from 7 to 10 degrees above the normal. At
Fresno the temperature exceeded any pre
vious record since the bureau was estab
lished. The high temperatures have been
quite Injurious to fruits ln the Sacramento
and Lower San Joaquin valleys. S_cie va
rieties nf grapes, especially Tokay, have
been seriously burned. In some eases one
half the crop has been injured. The sec
ond crop of figs has also been very badly In
jured. Summer fruits are ripening very
rapidly, and tho weather hus been excel
lent, for drying. Fruit Is generally of small
slzo, owing to drought. The frillt contin
ues to drop from the trees In many sec
tions; however, the unusually high prices
being paid compensates for the diminished
yield,
WHILE THE WAR LASTS
All who march, walk or stand should
shake Into their shoes Allen's Foot-Ease, a
powder. It cures aching, tired, sore, swol
len foot, and makos tight or new shoes
easy. It absorbs moisture and prevents
chntlng. hot, smarting, blistered, sweating
feet. All the regular army troops and
navy men use It. Volunteers in hot cli
mates can't exist In comfort without It.
Allen's Foot-Ease is sold by all druggists
and shoe stores. 2Bc. Sample sent FREE.
Address Allen S. Olmsted, Le Roy, N. Y.
THE
HERALD
Excels.
Have you tried it?
Everybody says it's a good paper.
Reasons are not far to seek.
AH the news that is news.
Local and telegraph.
Does not misrepresent facts.
Lots of things you want to know about.
Everyday brings many new subscribers.
Associated Press special wire.
Democratic in politics and fair to all.
Southern California's favorite.
UVU TCMOR CURE /%\/S*V
Your __(^
Piles
Can Be
AiVSrugfiits. Cured
GARLAND STOVES AND RANGES
■'The World's Best"
MICHIGAN STOVES AND RANGES
Always Dependable
If you would have your advertising !ssj
announcements and arguments '<£
1 burned 1
t| Into the ||
8 memory
of thousands of bright, intelligent, T g
money-spending people, buy space «*K
§15 I" the advertising pages of eg
|| The Los Angeles Herald ||
Sis Those who make lists of the mis
spelled words scattered through Eg
SjeL the advertising must learn the §r§
pIC; advertisements by heart. They
can't help it. If you don't believe jot
agj* this, try to find the misspelled
SIG words yourself, and note the result. eST
|| A Prize Every Week ||
OLDEST AND LARGEST BAN X IN SOUTHERN CALIFORNIA
pARMERS AND MERCHANTS' BA NX OF LOS ANGELES, CAL.
Capital paid up $500,000.00 \
Surplus and reserve $925,000.00
t W. HELLMAN, President; H. W. H ELLMAN, Vice-Free.; H. J. FLEISH
MAN, Cashier; G. HEILMAN, Assistant C ashler. Directors—H. W. PERRT, O. W.
CHILDS. J. F. FRANCIS. C. E. THOM, I. W. HELLMAN. JR.. H. W. HELLMAN,
A. GI.ASSEL, I. N. VAN NUTS, I. W. HE LLMAN.
Special Collection Department. Correspondence Invited. Our Safety Deposit De
partment offers to the public safes for rent ln Its new Flre and Burglar-Proof Vault,
which Is the strongest, best guarded and best lighted ln this city.
THE NATIONAL BANK OF CALIF ORNIA
At Lob Angeles.
Capital and Pro fits, $270,000.00
OFFICERS DIRECTORS
S. C. HUBBELL President B. C. HUBBELL, T. E. NEWLIN. O. H
O. H. CHURCHILL, First Vice President CHURCHILL. J. M. C. MARBLE. O. X
O. T. JOHNSON—Second Vice-President JOHNSON, JOS. D. RADFORD, W. S. DH
A. HADLEY Cashier VAN, CHAS. MONROE, N. W. STOWELL
JOS. D. RADFORD Assistant Cashier H. M. LUTZ, FRED O. JOHNSON, JOHN
R. I. ROGERS Assistant Cashier E. MARBLE, A. HADLEY.
[OS ANGELES NATIONAL BANK
United States Depository
CAPITAL 1600,000.00 SURPLUS t50.000.00
Total 1550,000.00
GEO. H. BONEBRAKE President WARREN GILLELEN....Vice-President
F. C. HOWES Cashier E. W. COE Assistant Cashier
DIRECTORS
Geo. H. Bonebrake, Wsrren Gulden. P. M. Green, E. P. Johnson, Wm. 1L Vaa
Dyke, W. C. Brown, L. C. McKeeby, F. C. Howes.
This bank has no deposits of either the county or city treasurer, and therefore ne
preferred creditors. i
SECURITY SAVINGS BANS
Corner Main and Second Streets
OFFICERS DIRECTORS
H. W. Hellman, J. F. Sartorl, W. L. < .ares
J. F. SARTORI President H. J. Fleishman, C. A. Shaw, F. C. John-
MAURICE S. HELLMAN.VIce-President son, J. H. Shankland. J. A. Graves, M. L
W. D. LONGYEAR Cashier Fleming, M. S. Hellman, W. D. Longyear.
Interest paid on term nnd ordtnnrr deposits
money loaned on nrst-class real estate
piitST NATIONAL BANK OF LOS A NGELES
Capital Stock $400,000 Surplus and undivided profits over 1260,004
J. M. ELLIOTT PresldentW. G. KERCKHOFF Vice-President
FRANK A. GIBSON CashierW. T. S. HAMMOND....Assistant Cashier
DIRECTORS—J. M. Elliott. J. D. Blcknell, F. Q. Story, H. Jevne, J. D. Hooker,
W. C. Patterson, Wm. O. Kerckhoff.
No public funds or other preferred depo sits received at this bank.
MAIN STREET SAVINGS BANK
Capital paid up $100,000
Junction of Main, Spring and Temple s treets, (Temple Block), Los Angeles.
OFFICERS AND DIRECTORS—T. L Duque, President; I. N. Van Nuys, Vice-
President; B. V. Duque, Cashier; H. W. H ellman, Kaspare Kohn, H. W. O'Melveny,
J. B. Lankershlm, O. T. Johnson. Abe Haa s, W. G. Kerckhoff.
Money loaned on real estate. Interest p aid on term and ordinary deposits.
SOUTHERN CALIFORNIA GRAIN AND STOCK COMPANY
2121-2 South Spring Street New York and Chicago Markets
Direct Wires. Reference:
Quickest Service. National Bank of California.
Telephone Main 942. Los Angeles National Bank.
MARGIN ACCOUNTS SOLICITED. COMMISSIONS FAITHFULLY EXECUTED
Dally report mailed upon application. F. P. BURCH, Cashier.
I OS ANGELES SAVINGS BANK
230 North Main Street
J. E. Plater, President; H. W. Hellman, Vice-President: W. M. Caswell, Cashier.
Directors—l. W. Hellman, J. E. Plater. H. W. Hellman, I. W. Hellman, Jr., 17.
M. Caswell.
Interest paid on deposits. Money to loan on first-class real estate.
QERM AN-AMERICAN SAVINGS BANK
Paid Up Capital and Profits, $150,000.
COR. MAIN AND FIRST STS. Victor Po net. President; L. W. Bllnn and C. N.
Flint. Vice-Presidents; M. N. Avery, Cash ler; P. F. Schumacher, Assistant Cashier.
Interest paid on deposits. Money loaned on real estate.
SOUTHERN CALIFORNIA SAVTN OS BANK
152 North Spring St. Interest Paid on Deposits
DIRECTORS—J. H. Braly. J. M. Elliott, H. Jevne, Frank A. Gibson, Simon Maler,
W. D. Woolwlne, W. C. Patterson. Safe Deposit Boxes for Rest.
Glass & Long
Blank Book Manufacturers
213-213 NEW HICIH ST. Los Angetet o>a. « »Ji
r»„ __.ll Br Ueant of Hli
Ula noil Vlgoral Absorbent
PAD and New System Treatment
CUBES WEAK MEN
gtuuten Growths, Drains, Loaaes,
Orchitis, Varicocele sad all such
ailmenti permanently cured and the
sufferer fitted tor marriage.
Tho Only Method Acting Directly
by Absorption.
Particulars and hook lenl froa, giving
datafU retarding on r method of treat
ment and the requirements of m«r
riaite. We lend nothing C, 0 t>
Everything confidential sad all
communications sent sealed and in
plain envelope. For reliability we
refer you to any Cleveland Bank.
Address all oomntunlcstloni to
k. r. BBisacAjr,
110 The Beckmsb, Clevolani, O.
C. F. HEINZEMAN
.. Druggist and Chemist..
222 North Main Street Lo* Angeles
PRESCRIPTIONS CAREFULLY COM
POUNDED DAY OR KIUMT.
Perry, Mott & Qo.'n
Lumber Yard -E"
216 CMnmerclal Street, Us Angeles, Cal.
Baker Ironworks
960 to set Buena Vista Street,
LOS AHtjKLCft, CALIFORNIA
AdJolßlag *• Grounds, Zel Hi.
■JL- FOR
IX FINE TAILORING
>Tfie-«L. PERFECT FIT. BEST OF
rJßfvm WORKMANSHIP, at
WfcjSyV 25 per cent Less than Other
nlfiO Tailors Charge. Go to
*ff JOE POHEIM
I Ella wool suits to &t o ,„ & or
I HI Order from $l«f, 10 $30
HI Penltfrom .. . $4**s|o
143 S. Spring St.,
I-OS ANGELES.
1110 and Ilia Market St. - San Francises,
PennyroYal pills
¥ _/-4T?K s*-sl aal It all flanalaa A
til 1 iSSi «" c»ir»™<». i m» jm\
(rWelli" '" •» t o»u nw^vw
WSBtMw, with tlua ribbon Take
T*l eOfau other. Ae/u.p ianpmw rulirtra- ▼
If nf «"* l"«o«on.. -'"-if T rilllll
• Jf '"""'P" »r »»n It atari. itiilaHa&i ea<
# iifi^eVe^iWJr^iw
. . -—' 1 '" 1< lillia.Ttta»7lL
Sale »Jr. W. SSAfli a CO., Wealnela Si asjaaa. Ji
Ziska Institute
1718 Sacramento Street
Near Van Ness Are.
Home and Pay School far 0W
From Primary through Collegia** work. Su
perior advantages ln Languages and Musi*
Individual attention. Small classes. Ssselll
students admitted. ; »,
11