Los Angeles herald. [microfilm reel], October 02, 1910, Page 3, Image 43

About Los Angeles herald. [microfilm reel] (Los Angeles [Calif.]) 1900-1911

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

                
PART IV
Stately Herman W. Hellman Building
Home of National Bank of California
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PIONEER BIKER
MAN OF ENERGY
Clean Business Record, Enduring
Monument to Herman
W. Helman
PASSED AWAY OCTOBER, 1906
He Drifted from Mercantile Pur
suits in 1861 to the Banking
Business in the Eighties
In his lifetime there was probably no
other man in this community who was
raoro energetic or more closely identi
fied with the business interests of Loa
Angeles than the late Herman W. Hell
man, pioneer merchant and banker,
who died October 13, lUO6.
Mr. llellman amussed a large fortune
and besides erecting the magnificent
H. W. Hellman building on the north
east corner of Spring und Fourth
streets, tile site of his old home of the
early Spanish days, he was heavily
interested in numerous Industrial en-
terprises.
Mr. llellman came to Los Angeles
May 14, ISSU. Ho was at the time about
15 years of ago and Los Angeles was
a town approaching 3000 inhabitants.
He brought little with him besides a
good public school education, backed
With nooil health. The following June
he entered the employ of Gen. Phineas
Banning of Wilmington as freight
clerk in the forwarding and commis
sion business. In December, 1861, he
resigned to Join a cousin in the sta
tionery business in Los Angeles. After
several years he embarked in the fancy
goods and stationery business and con
tinued therein until March, 1870, when
ho disposed of his business and spent
a year and a half in Europe.
Upon his return in November, 1871,
he and Jacob Haas, an old schoolmate,
founded the house of Hellman, Haas
& Co., which under Mr. Hellman's gen
eral direction carried on a wholesale
grocery business for nineteen years.
From time to time Mr. Hellman made
Investments in Los Angeles realty and
business enterprises, among which may
be mentioned the j.iurchasa of stock in
the Farmers and Merchants bank, of
which he was elected a director. In
1890 he retired from Hellman, Haas &
Co. and accepted the position of vice
prf.-iident and local manager of the
Farmers and Merchants bank.
The panic In 1893 brought out strik
ingly the wisdom of the policy which
has been elomental In the building up
of, this bank. Never were the times
more stressful for a bank and never
did a bank meet the issue more proud
ly or more gloriously than did the
Farmers and Merchants bank.
Several financial institutions of Los
Angeles closed their doors, one per
manently, but the bank founded by I.
W. Hellman grandly weathered the
financial storm.
Mr. Hellman was also vice president
of the Los AngeUs Savings bank, a
director of the Main Street Savings
bank, a director of the Security Sav
ings bank (all of this city) and a di
rector in several banking institutions
In tho various towns and cities of
Southern California. He was chair
man of the Los Angeles clearing house
committee and diroctor and treasurer
of various business corporations of Los
Angeles and its vl?inity.
Mr. Hellman was a native of Ba
viul.'i, Germany, ana. was bom in the
town of Reckenrtnrf September 25, 1843
His father, Wolf H. p a native of the
same place, was a weaver and also
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LATE HERMAN W. HELLMAN
followed mercantile pursuits. He died
there at the age of about 72 years. He
had married Sarah Flelschmann, who
spent her entire life in that town, dy
ing when 67 years of age. They were
the parents of thirteen children, live
of whom are living. Her father was a
farmer and cattle trader. Wolf Hell
nian's fathor was a prominent mer
chant and capitalist. Somo of the an
cestors of Mrs. Hellman filled Impor
tant positions, such as quartermasters,
durins;, the revolution of Napoleon I.
H. W. Hellman was educated in the
schools of southern Germany. When
1") years of age he accompanied his
brother, Isaias W. llellman, to this
country, arriving in Los Angeles May
14, KB9. He was mnrried in Italy July
26, IST 1, to Miss Ida Helmann. She was
born at Treviso, near Venice, a daugh
ter of Moritz and Fannie Heimann, the
former a native of Germany and the
latter of Trieste, Austria. They be
came the parents of six children, four
of whom are living—two daughters.
Frlrta and Amy, and two sons, Marco
and Irving.
Mr. Hellman was a prominent mem
ber of the Reformed Jewish congrega
tion B'nal ITrith, of which he had
born president since ISS6; under his
administration the elegant temple on
Hope and Ninth streets was erected.
The family are liberal supporters to
the religious and charitable movements
of the city, county and state.
Mr. Hellman was a Mason of high
degree. He was initiated September
20, 1869, and exalte 1 to the sublime de
groe of Royal Arch Mason August 14,
18S3, in Signet chapter No. 67.
MANY MILLIONS AVAILABLE
FOR IRRIGATION PROJECTS
Advices received in Spokane from
North Yaklma, Wash., are that the
Electric Bonds and Shares, company,
the Pacific Light and Powor company
and eastern capitalists will expend $90,-
000,000 in extending and Improving the
Hahford and Strahorn irrigation pro
jei is, which are to be consolidated.
The report states that the Strahorn
project has been bought, and that tho
companies have an option on the Han
ford power and Irrigation plants. It is
announced that tho Strahorn com
pany's power lines from Priest Rapids
will bo connected with the Yaklma sys
tem at Pasco and Sunnyside, that the
Walla Walla system will be connected
with the Yaklma lines, and that an
other connection will bo made with tho
Washington Water Power company.
Competent engineer! report there is
more water power available at Priest
Rapldi than at any other site in the
United States except at Niagara Falls.
LOS ANGELES HERALD: SUNDAY MORNING, OCTOBER 2, 1010.
SHAW SEES PERILS IN
GREAT CENTRAL BANK
Views of Ex-Secretary of the U.
S. Treasury on a Live
Topic
The September issue of Moody's
Magazine contains in part the views
or Hon. Leslie M. Shaw, former sec
retary of the United States treasury,
on one side of the question of a great
central bank. He says:
"The advocates of the central bank,
so far aa I know, admit at the very
outset of their argument that it must
be kept out of the hands of any group
of men and out of the control of Wall
street. When pressed for methods by
which such an institution shall be
kept from the grasp of men who al
ready control every big railroad, nearly
all the big insurance companies and
very many of the big banks, they gen
erally propose that the stock shall be
allotted to and its purchase made
mandatory upon the national banks
throughout the country and that state
banks be given the privilege of buying
if they desire. Then by limiting the
dividend to be paid on the stock of
the central bank to 4 per cent they
claim that no one on Wall street will
care to buy it. That will catch only
the credulous. Permit a few compar
isons. The Mutual Life Insurance
company of New York is owned by
its pollcyholders, and these are scat
tered throughout the known world.
Following the Hughes investigation a
few years ago the impression became
quite universal that the company was
being badly managed, its funds mis
appropriated and that it had become
in part a political machine corrupt to
the core. While this impression was at
its height certain parties in New York
spent a quarter of a million dollars In
an attempt to wrest control from the
'system,' but they did not succeed. The
T quitable Life cf New York has $100,
--000 capital and its articles of incor
poration limit the dividend to be paid
thereon to 7 per cent. It was cur
rently reported that a majority of this
$100,000, enough to carry control, sold
for $9,000,000. It has subsequently been
sold and passed to the United States
Steel people, not because $7,000 is an
adequate return on an Investment of
$9,000,000, but because the control of
the assets of the Equitable Life's
$500,000,000 is worth more than the
use of $9,000,000.
"I cite these illustrations not as evi
dence tending to show, but as proof
positive that the more widely the stock
of the proposed central bank is scat
tered, the more certain will be its con
trol by Wall street. There Is not an
interior ba,nk in J;he United States but
would send Its proxy direct to its New
York correspondent. But suppose the
country banks did become dissatisfied
and should undertake to wrest control
of the Institution from Wall street? On
whom could they combine? If we are
to have such an institution, let "Wall
street have it. That is the place for
it and the Standard Oil company and
the United States Steel people are the
ones to manage It. They are the only
people big enough to manage it."
AMERICA'S RICHEST WOMAN
IS MRS. E. H. HARRIMAN
The fact that the estate of Edward
H. Harriman, who died September 9,
1909, amounts to $71,000,000 makes the
position of his widow, Mrs. Mary W.
Harriman, secure as the richest woman
in America. In a will containing
ninety-nine words, Mr. Harriman left
all his property to his widow. They
had reached a thorough understanding
as to the management of his vast es
tate, an"d his faith In her good judg
ment vas so thorough that he did not
deem it necessary to encumber his will
with restrictions or concUtlp*"*'
GERMAN-AMERICAN
IS 20 YEARS OLD
History Has Always Been One of
Progress and Solid
ity
TOTAL DEPOSITS $13,926,052
Management of Institution in the
Hands of Experienced Men of
Established Reputation
The Oerman-Amortcan Savings bank,
located In the Union Trust building,
southeast corner Spring and Fourth
streets, is fast approaching its twen
tieth birthday. Lpon October 7 It will
have rounded out a. full you.- or yearn
of active business life—a long: term in a
new country like Southern California.
The career of this bank lias been one
of steady progress and Increasing in
fluence. Throughout the ever-chang
ing conditions of the past twenty years
it has stood for much in the financial
lie of Los Angelets--and has proved its
trustworthiness to thousands upon
thousands of depositors.
Conservatism has been and is today
the fundamental basis of the business
policy of this bank—a close adherence
to those banking principles that ex
ptrierce has proved pound.
It has borne its share in the up
building of Los Anfe-eles—coming to the
ficnt with sound counsel and substan*
tial aid. when needed. With the com
munity and as a part of it this bank
has grown until today it is regarded
as a real "institution" by the Los An-
geles public.
Since Its foundation the German-
American Savings bank hafl been un
der practically the same management.
The men who conduct its affairs today
have been concerned with It and shaped
Its policy throughout these past twen-
ty years.
The officers and directors of the
bank are: M. N. Avery, president; W.
B. McVay, vice president; Joseph D.
Radford, vice president; J. F. Andrews,
cashier; R. P. Hillinan, assistant cash
ier.
Directors— S. Bartlett, chairman
of the board; O. T. Johnson, capitalist;
I. N. Van Nuys, vice president Farmers
and Merchants National bank; E. T.
Earl, owner and publisher Evening Ex
press; Gall B. Johnson, vice president
Pacific Mutual Life Insurance com
pany; R. J. Waters, president Citizens
National bank; Isaac Mllbank, direc
tor Pacific Mutual Life Insurance com
pany; C. N. Flint, formerly cashier
Commercial National bank; Victor
Ponet, vice consul for Belgium; J. M.
Schneider, manager Boston Dry Goods
store; P. F. Schumacher, vice president
Schumacher-Wilson company; Walter
F. Haas, attorney at law; Joseph D.
Radford, vice president; W. E. McVay,
vice president; M. N. Avery, president.
Comparative statement of deposits
since January 1, 1900:
January 1, 1900 » 1,234.241.39
January 1, 1902 2.09.-,.302.07
January 1. 1902 2,095,302.07
January 1, 1903 3,336,294.76
January 1, 1904 5.924.215.44
January 1, 1905 4,321,610.93
January 1, 1906 5,113,5il
January 1, 1907 9,373.447.96
January I, 1908 8,839,462.9;
January 1. 1909 8,656.769.28
January 1. 1910 12,660.273 59
July 1, 1910 13,926.052.52
Below is given the total number of
new depositors opening accounts dur
ing the first seven months of the pres
ent year:
Present resources 15.000.000.00
January l*'l
i February *;=°
March }>;«
April 1»«
May ««»
June Ul)3
July «*•
Total 8093
Average number new depositors monthly. 1300
Four per cent is paid on "term" ac
counts and 3 per cent per annum on
checking accounts.
Povislon Is made for ideal safe de
posit vaults—6ooo boxes for coin and
valuables; also special department for
storage of trunks, grips, etc.
- TWENTY YEARS' PROGRESS
The figures below tell their own story.
This bank has grown even faster pro
portionately than Los Angeles Itself.
It has grown in the public esteem In
like proportion—and has merited the
confidence reposed in it.
STATEMENT OF CONDITION JAN. 1, 1891
RESOURCES
Bills receivable I 162,679.93
Furniture i'iitii
Expense 1,357.60
Due from hanks 11,070.28
Cash on hand 6,735.40
$ 183,768.69
. LIABILITIES
Capital * 100,000.00
Profits 928.66
Due depositors : 82,840.00
, $ 183.765.66
STATEMENT OF CONDITION JULY 1, 1910
. • i RESOURCES
Cash % 1,867,786.75
Investments In United States
and other bonds 1,681,850.63
Loans. . . 11,599.677.53
Safe deposit vaults 60.000.00
Other assets 2,529.30
Furniture and fixtures ...Charged off
Real estate Charged off
(15,101,854.41
■V] . LIABILITIES
Capital paid » 700,000.00
Surplus and undivided profits. 475,801.69
Deposits. . ■■ 13,926,052.53
$15,101,854.21
•-»-•
HOME SAVINGS BANK,
CITY OF LOS ANGELES,
HOTEL ALEXANDRIA BLDG.
iJppß p. mm CM Vn Df>l|£
Merchants National in Lankershim Building
I
■Iv fi9* Jib' ' *■*" '■■■■
MERCHANTS NATIONAL
BANK DEPOSITS $5,681,150
Personnel of Old Established Fi
nancial Institution at
Third and Spring
The Merchants National bank, lo
cated on the ground floor of the Lan
kershim building, on the southeast
corner of Spring and Third streets, is
one of the oldest established financial
institutions in L«s Angeles, founded by
the late Herman W. Hellman. No
bank in the community or west stands
higher in the estimation of the public.
The paid-up capital l.s $200,000, and the
surplus is $U50,0G0. A general banking
business Is conducted, safe and con
servative, and the bank Is a United
States depositary.
Officers of the Merchants National
are: W. H. Holliday, president; W. L.
Graves, Marco H. Hellman, H. L.
Newell and L. C. Brand, vice presi
dents; Charles S. Greene, cashier; J.
H. Ramboz, assistant cashier. Direc
tors, \V. A. Barker, E. P. Bosbyshell,
Marco H. Hellman, L. C. Brand, W.
L. Graves, W. H. Holliday, F. M. Lyon,
Will E. Keller, N. Bonfillo, H. L.
Newell, E. T. Stlmson, D. K. Edwards,
Irving H. Hellman, W. L. Valentine
and M. A. Hamburger.
CONDITION OF BANK
Following is the official statement of
the condition of the Merchants Na
tional September 1, 1910:
RESOURCES
Loans and discounts 13,803,771.08
United States bonds 250,000.00
Premium G.00n.00
Other stocks and bonds 4r.5,609.6s
Furniture and fixtures 75,000.0'j
Real estate 11,701.06
Due from banks
and U. S. treas
urer |1,534,545.51
Cash on hand 784,882.48 2,26:1,676.05
J6.571.7G0.55
LIABILITIES
Capital stock paid In $ 200,000.00
fe^ Save for the Home at the Home Savings
'i^^S^' Choose a Bank
fffieEC^ with the same care that you
TOflll^ip^? l would a home or friends
i^^-^^^^Slf^^w*^^ Your Banking connections are important, so when you seek a
:^i^^^^wii^^^^' bank home, remember the Home Bank—choose it and make no
mistake. Here you'll find a congenial, profitable, safe and con
-^ venient place to keep your funds and transact your financial
Hotel affairs.
Alexandria
Building
Here Are Banking Advantages—Profit, Safety, Convenience
A /iV Paid on 6 months term deposits. One XVV Paid on minimum monthly balances of
/W (if dollar will open an account and Inter- 9 9 {J7 $300 or more, deposit subject to check
__f U-4 //I est is computed and paid twice a year A XO without presenting pass book. Interest
■ ' /U _ a capital savings fund. I__L____F •t/ computed monthly.
I Ground Floor Safe Deposit Vaults—Boxes $2 Per Year
UOMe SAVINGS BANK
HM ALEXANDRIA HOTEL BUILDING. SQ &^PftING
Ja gg\ ' __T.. » ; **" > aa
Surplus and undivided profit!.. «9ft,610.19
Circulation 200.000.00
Bond account 100.0u0.00
Deposits 5,681,150.66
J0.871,760.83
COMPARATIVE DEPOSITS
September 23, 1908 M,330.935.31
September 1, 1909 f,,116.f,37.01
September 1. 19in 6,681,150.06
SECRET OF PROSPERITY
IS THE SAVING SPIRIT
Great Aim of Bankers Is to Get
Children Interested in
'the Rainy Day'
NELSON N. LAMPERT
Vice President Fort Dearborn National
Bank, Chicago
With the practical banker the whole
story of money saving consists of a
successful effort to get young people
interested In the Idea. The day is
past when we need to argue on the
wisdom of saving for a time of need.
What we want now Is the best plan
for reaching those who believe in sav
ing and yet do not save. Theorizing
has served its purpose and practical
education or some effective propelling
power must be found to bring young
men and women into the ranks of sys
tematic money savers.
I have noticed ever since the begin
ning of my banking experience that
when the work of education has been
properly dono—when the virus of sav
ing- is actually at work in the veins
—young men and women soon acquire
a new view of life and become hap
pier and more useful citizens. It does
not take long to arouse enthusiasm
over a growing bank account and the
fellow who bprome.s prudent and sensi
ble in his own affairs Is usually a
good man to put In charge of a busl
ni'ss. He comes to like the idea of suc
cess and he is enthusiastic in push
ing his employer's interests, partly
because it adds to his own success,
and largely because the spirit of win
ning has taken hold of him.
Tnerefore, when I see a young man
wasting his money and opportunities I
feel like appealing to him personally
to try another tack. I believe in the
personal appeal to the sense and am
bition which are in every normal hu
man being. In these days of good
wages it is easy for the average young
person to save a little money regular
ly, and I believe in going after them
when they first start out to earn
money, before they have begun to
throw away that portion which re
mains after their necessary expenses
have been met.
I believe bankers should help to ed
ucate people along the line of saving,
and if they can't do so by personal ap
peal or argument they might help
along the goo.l cause by producing and
spreading literature. Show them how
the start can best be made. Show
them that the higher class of banks
are absolutely safe. Taking it for
granted that anyone who is not a fool
believes in money saving as a gen
eral proposition, show them how it is
to their interest to begin saving at
once Point out the effect in steadying:
one's own character, in securing the
confidence and regard of employers
and neighbors and in getting a little
money ahead for a home or for use in
case of sickness.
A banker ought to be able to talk
and write as an expert on small in
vestments, and he should always be
ready to assist patrons in making safe
and profitable investments. This is a
matter that will appeal to many per
sons who are not thrilled with the
thought of keeping a lot of money
idle in a bank. But the banker must
show in a clear and persuasive way
that there is no use talking of an in
\ stment until a start has been made
in saying. Then he Is getting down to
business. Efforts along this lino will
prove effective three times out of nve
if you are dealing with young men
personally and they will not be wholly
wasted even if the entire subject is
Dresented on paper.
3