USA > California > Los Angeles County > An illustrated history of Los Angeles County, California. Containing a history of Los Angeles County from the earliest period of its occupancy to the present time, together with glimpses of its prospective future and biographical mention of many of its pioneers and also of prominent citizens of to-day > Part 41
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West Virginia 54
Portugal
Prince Edward Island
13
Russia
18
Scotland
70
Maine.
324
Europe
Michigan
227
Greece
Ireland
618
New Hampshire
New Brunswick
18
New Foundland
1
Rhode Island
Virginia .. 230
1 11827693515 1 8 1
78 12
256
HISTORY OF LOS ANGELES COUNTY.
and spice mills; a bone-dnst factory; and several establishments for the manufacture of tin-ware. There are car-shops, where the cars for street railways are made. The car and locomotive repair shops of the Sonthern Pacific Company are also located in Los Angeles. There are jewelry works, electric works, straw works, lithographic works, hat factories, tanneries, fruit-drying establishments, and a pork packing cold-storage company, with a capital of $300,000.
Los Angeles City is the center of wholesale trade for Southern California, and also Ari- zona. The completion of the proposed Los Angeles & Utalı Railroad would open up a great additional extent of tributary territory. Manufacturing has been largely stimulated by the cheapening of fuel; and when the petroleum pipe lines now in course of construction are completed, a large increase in this branch of business is certain to ensne. Already the list of manufacturing establishments is quite large. It numbers nearly 600, and in the list is the establishment for the manufacture of terra cotta and pressed ornamental brick, of which there are only two such manufactories west of the Rocky Mountains.
It should be mentioned as a fact pertaining to the wholesale trade that the total receipts at the Custom House at the port of Los Angeles (San Pedro) for the fiscal year ending July 1, 1888, were $139,330.79.
The retail trade of the city is also very large, and steadily increasing.
The business of raising and peddling vege- tables engages the attention of a large number of Chinamen in the vicinity of the city. Within the city limits hundreds of them follow the laundry business. The laundries run days only, Sunday and week-day. The butchers deal prin- cipally in pork, which is the Chinaman's chief meat. The merchants deal in Chinese special- ties, and do also a private banking business. The restaurants of the Chinese are not exten- sively patronized by whites. The "opinm joint " is a typical Chinese institution.
The California Sewer-Pipe Company was in-
corporated June 1, 1888, by J. C. Daly, W. F. Fitzgerald, Horace Hiller, D. McGary, J. P. Moran, H. C. Witmer, J. A. Philbin and S. A. Fleming. They elected Mr. Daly President, Mr. Hiller, Vice-President; Mr. Moran, Secre- tary, and the California Bank, Treasurer. Their manufactory, including a floor space of abont 30,000 square feet, is at Vernon, between Wilmington and Central avennes, on the line of the California Central Railroad, where they turn out the best quality of salt-glazed vitrefied sewer pipe from three to thirty inches in diameter. Their work gives satisfaction and they are en- joying an extensive patronage. At this manu- factory they have forty acres of land, but their clay beds are at Elsinore, where also they have a factory. They also make fire brick, pressed brick, terra-cotta work and the heavier grades of crockery. Since the first organization, more have become members of the company, and the present are the board of directors: J. C. Daly, Horace Hiller, J. P. Moran, John Dobler, of San Francisco, C. F. Webber and W. F. Fitz- gerald.
The city of Los Angeles is now one of the most perfectly paved cities in the United States. Within the last three years most of the business streets and nearly all the fine residence streets are paved with asphaltum rock, smooth, elastic and durable as whitleather; and the sidewalks are of artificial stone, beautifully and substan- tially laid.
The new court-house, to cost over a million dollars, is in process of construction; the new City-Hall building, on Fort street, between Second and Third, is just completed, -- an im- posing structure; and the varions mills, factories and business blocks are generally noticed in the biographical sketches of their respective pro- prietors in the latter portion of this volume.
The Chamber of Commerce and the Los An- geles Board of Trade are worthy institutions deserving a more extended notice.
The State Loun and Trust Company, of Los Angeles, was organized in March, 1889, to answer a demand for loans of Eastern money
A BIRDS-EYE VIEW OF THE CITY OF LOS ANGELES.
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HISTORY OF LOS ANGELES COUNTY.
on better terms than were existing in the California money market. The traditional sus- picion existing among Eastern capitalists con- cerning land titles in this State, their ignorance of the value of the unique products of the coast, and the fact that according to the laws of this State the mortgagee must pay the taxes on his loans, have been prejudicial. These difficulties are sought to be overcome by the organization of this company, with a large capital and suť- ficient responsibility to make its guarantee respected in the East, both by its capital and its management. Other objects, also, are to receive savings, and do a trust business, which was very much needed here, and the issue of debentures running several years and drawing a low rate of interest, secured by mortgages placed in the hands of a trustee and disposed of in the East and in Europe; and these debentures of course are disposed of at a lower rate of interest than the company receives. It is also the intention of the company to act as guardian and adminis- trator of estates and whatever kindred business may be presented. It has now a paid-up capital of over $200,000, with a subscription of nearly a million.
The organizers and directors of the company are George H. Bonebrake, W. H. Perry, John Bryson, E. F. Spence, L. N. Breed, H. C. Wit- mer, L. W. Dennis, Perry M. Green, II. J. Woollacott, W. G. Cochran and S. B. Hunt. For the officers they elected Mr. Bonebrake, President; Messrs. Spence and Bryson, Vice- Presidents, and Mr. Hunt, Secretary.
The company also keeps a safety deposit vault, which is probably the finest in the State, con- sisting of 100 tons of steel! Just think of it! Counting a ton to the wagon-load,-the ordinary amount for a team in the country, and count- ing in a procession about three rods to the team, the above quantity of steel would freight a car- avan a mile long!
This vault, with the bank and offices of the company, are in the Bryson-Bonebrake Block, the most magnificent in the city, and costing $220,000, exclusive of lot. It was erected in 17
1888-'89, at the corner of Second and Spring streets, five and a half stories high, besides base- ment, and with a frontage of 120 feet on Spring street and 103 on Second. The main floor is occupied by store-rooms and the Trust Company, and the upper rooms are fitted up for fine offices. The fifth floor and part of the sixth are occupied as a headquarters by the United States army, and a portion of the fourth floor is occupied as a headquarters by the Grand Army of the Republic of the State, and the National Guard. The building has a grand entrance on Spring street, where there are a first-class elevator and splendid marble stairs. The red sandstone is from Sespe, Ventura County, and the other vari- eties from San Bernardino County; the marble for the columns in front from Colton, the green sandstone from Mentone, and the granite also from that county. A sketch of Mr. Bonebrake is given on another page.
MR. BRYSON was born in Lancaster County, Pennsylvania, June 20, 1819, being one of thirteen children, and was in early life a cabi- net-maker. In 1847 he moved to Ohio, where he engaged in business for himself; in 1851 he went to Muscatine, Iowa; in 1856 he located in Washington County, that State, where he was very successful in the lumber business, and erected a large hotel. Since coming to Los An- geles he has engaged in several large business operations, among them the erection of the Bry- son-Bonebrake Block, in partnership with Mr. Bonebrake. Was elected mayor of this city in December, 1888, and served one term. In 1843 he married Emeline Sentman, and they have had eight children.
BANKS.
Banks are the thermometer alike of the trade and the wealth of the community or commou- wealth in which they are situated. From the founding of the first bank in Europe, in the city of Venice, in 1171, A. D., to the present time, banks have multiplied and increased in import- ance until now they are the commercial ma- chinery through which the business of the
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HISTORY OF LOS ANGELES COUNTY.
civilized world is transacted; and nothing else is so true an index to the financial status and prosperity of a city or country as its banks. Measuring Los Angeles by this standard, there are few cities of its size in the United States, or the world, upon as solid a financial basis; for there are none, perhaps, of equal population which has a greater number of thoroughly solid banking institutions. The aggregate working capital of the eleven banking houses of the city runs into millions of dollars, while the combined wealth of the gentlemen officially connected with them as officers and directors probably ex- ceeds $30,000,000.
The First National Bank is one of the great, solid financial institutions of Southern Califor- nia. It was organized in 1875 as the Commer- cial State Bank, with a capital stock of $177,000. The first officers were :- Patrick, formerly of Chicago, President; Edward F. Spence (now President), Cashier.
In October, 1880, the bank was nationalized, and it became the First National Bank of Los Angeles. It was organized with $100,000 cap- ital stock, and with $50,000 surplus. J. E. Ilollenbeck (since deceased) became president, Mr. Patrick having died some time previous. On the death of Mr. Hollenbeck, Mr. Spence was elected president, September 1, 1881, and Win. Lacy then became cashier. In November, 1884, Mr. Lacy resigned, and J. M. Elliott be- came cashier, which position he still holds. On the 13th of January, 1887, the bank doubled its capital stock, owing to the rapid increase of its business. The present board of directors com- prises: E. F. Spence, J. D). Bicknell, S. II. Mott, William Lacy, J. F. Crank, II. Meabury and J. M. Elliott. The business of the bank has steadily increased ever since it opened, with the exception of the year 1887. It does a very large exchange business-the largest in the city- drawing direct on all the principal cities of the East and of Europe. It has open accounts with about 4,000 depositors. Its present capital stock is $200,000, with a reserve fund of $50,000, and undivided profits of about $190,000. It has
always paid moderate dividends. The aggregate wealth of the directors is supposed to be $4,- 000,000. The management has always been conservative and wise. The First National is also a United States Depository.
The Los Angeles National Bank, one of the most substantial and enterprising banking- houses of the Pacific Coast, was organized in May, 1883, and opened its doors for business on the 12th of the following month, with a capital stock of $100,000, paid in. There has been no change in the officers of the bank, nor in the board of directors. The board is composed of George H. Bonebrake, John Bryson, Sr., Dr. H. G. Cochran, P. M. Green, F. C. Howes, II. H. Markham and Hiram Sinsabaugh. The officers of the bank are: George H. Bonebrake, President; John Bryson, Sr., Vice-President; and F. C. Ilowes, Cashier.
The bank being managed by some of the most active . and thorough-going business men of Southern California, its business soon became so large that it was found necessary to increase the capital stock, which was enlarged about two years after it was opened to $300,000, and two years later to $500,000. Besides its half mnill- ion dollars of capital stock, the bank has $50,- 000 surplus, and has paid about $130,000 in dividends to its stockholders. The deposits of the bank average fully 82,000,000; and, as a large majority of its depositors are'active business men who keep their money employed, the clear- ings of the Los Angeles National are larger than those of any other bank in the city, or in Sonthern California. It is a United States De- pository.
The bank occupies elegant rooms in its own building, on the northeast corner of Spring and First streets, into which it moved on the com- pletion of the building in March, 1887. The block is built of brick, with stone trimmings, and is one of the finest and most substantial pieces of architecture in Los Angeles. The bank is fitted up with a large double vault, and the best improved burglar and fire-proof safes. In September, 1888, a disastrous fire occurred
259
HISTORY OF LOS ANGELES COUNTY.
in the upper part of the building, destroying much of the wood-work on the two upper floors, but not injuring the bank's quarters, save the heavy flooding by water, from which the bean- tiful frescoing was seriously damaged. The fire occurred after 7 o'clock in the morning, and at 10 A. M. the bank was paying checks over its counter, though the ceilings were dripping with water. All trace of the fire has been eliminated from the upper stories, the top one of which is occupied by the order of Freemasons, and is unsurpassed in style and elegance of finish on this coast. The second story is devoted to offices, which are metropolitan in finish and ap- pointments.
The Los Angeles County Bank, the second oldest bank in Los Angeles City and one of the most prominent and solid monetary institutions of Southern California, was organized under the laws of the State and opened its doors for busi- ness in July, 1874, with a capital stock of $300,- 000. The first four years of its existence it did both a commercial and savings business; but in 1878 its management decided to discontinue the savings branch of the business and make it a commercial bank solely. Therefore the savings clause of the charter was forfeited and the cap- ital stock reduced to $100,000, the remainder of the original capital being placed in the sur- plus fund. The first board of directors was composed of J. M. Griffithi, R. S. Baker, Jothem Bixby, J. S. Slanson, V. A. Hoover, H. B. Tich- nor and George S. Dodge. The first officers of the bank were: J. S. Slauson, President; J. M. Griffith, Vice-President; J. M. Elliott, Cashier. In July, 1878, the bank mnoved into its present quarters in the Temple Block, at the junction of Main and Spring streets. It is situated in the business center of the city, and occupies a commodious and beautiful suite of banking rooms, furnished with a large fire and burglar proof vault. The 1st of January, 1883, Mr. John E. Plater came into possession of a majority of the stock, and on the 3d of that month was elected president of the bank, since which time he has been its financial and managing head. The
policy of the management has been conservative and safe, and the carcer of the bank has been one of uninterrupted prosperity. It has paid large dividends, and its stock is worth a 100 per cent. premium. The deposits now aggre- gate $500,000, and its capital and surplus $220, - 000. The present board of directors are Jolin E. Plater, Jothem Bixby, R. S. Baker, Llewel - lyn Bixby, George W. Prescott, H. L. MacNeil, and George H. Stewart. The present officers are: John E. Plater, President, and George E. Stewart, Cashier. The bank does a large ex- change business, and draws on all the principal cities of the United States, Europe, China and Japan.
JOHN E. PLATER, one of the brightest business men and ablest financiers in Southern California, has been in the banking business since August, 1866, and hence has an experience of nearly a quarter of a century in this field of activity. He was born in the State of Maryland forty- nine years ago, and was brought up from early boyhood in a commercial house in the city of Baltimore. At seventeen years of age he went to sea on board of a merchant ship, and during his marine experience of a year and a half he visited many of the principal ports of the world. On the breaking out of the civil war, his interests and his friends all being in the South,-he entered the Confederate army, a young man of twenty-two, and served four years-till the close of the conflict; was Captain of Artillery in Thomas Jonathan (Stonewall) Jackson's command when that dashing leader inet his death. Captain Plater was a worthy follower of that intrepid commander, and was three times wounded during his military service. Coming West in 1866, the subject of this memoir engaged in the banking business in Nevada; and during the fifteen years of his residence there was connected with three differ- ent banks, and also extensively identified with mining and smelting interests. After coming to the Pacific Coast, and before settling in Los Angeles, Mr. Plater was connected for some time with the Bank of California. Having
260
HISTORY OF LOS ANGELES COUNTY.
traveled extensively both by sea and land, and pos- sessing an active perceptive and receptive mind, Mr. Plater is exceptionally well-informed, and a very companionable gentleman among his numerous friends. Seventeen years ago Mr. Plater was joined in marriage with Miss . Patterson, daughter of A. D. Patterson, a prom- inent citizen of this coast, and ex-sheriff of Sacramento County.
The University Bank .- This bank, which is one of the youngest financial institutions of Los Angeles, was incorporated March 23, 1887, and opened its doors for business on the 18th of the following month, with a capital stock of $100,- 000. To this has been added an earned surplus of $20,000 and nndivided profits of $37,717.22, as shown by the officers' sworn statement of De- cember 31, 1888. The board of directors is composed of R. M. Widney, D. O. Miltimore, S. W. Little, Clarence A. Warner, C. M. Wells, D. R. Risley and J. P. Morrill. The officers of the bank are: R. M. Widney, President; George L. Arnold, Cashier; George Sinsabaugh and J. R. Widncy, Tellers.
The University Bank, as its name implies, was established in the interest of the University of Southern California, to provide a safe deposi- tory for and the profitable employment of the large and constantly increasing funds of that great educational institution, which had grown too large to be safely handled by any other method than a regnlar banking system. In this arrangement the interests of the University are thoroughly protected from any possibility of loss through the bank, while the stability and business success of the bank cannot be jeopard- ized by any mismanagement of the University. The University Bank does a regular commercial banking business, and draws directly upon Chi- cago and New York, and, through its corre- spondents, on the principal cities of Europe.
This bank has also introduced a special new, independent banking feature in the way of first mortgage bonds, issued and for sale by it. These bonds are secured by a first mortgage on over three times their face value on improved real-
estate, which mortgages are issued to the bank as trustee to secure the payment of the bonds to the bearer, the mortgage security being wholly independent of the solvency of the bank, as the failure of the bank would leave the holder of the bond secured by the borrower's first mort- gage on his property.
The bank is located at No. 119 New High street, and occupies one of the finest banking- rooms in the city.
The East Side Bank is one of the prosperons and growing financial institutions of Los An- geles. Its managing officers are men of fine business attainments, acquired by both educa- tion and experience in banking and other branches of commercial life, and conduct this banking-house upon a conservative and :afe policy. The East Side Bank was organized as a State Bank under the laws of California, and opened its doors for business on the 1st day of April, 1887, at No. 510 Downey avenue, with an authorized capital of $100,000, of which $50,000 was paid up.
The board of directors is composed of the fol- lowing named gentlemen: William Vickrey, F. C. Howes, L. W. Dennis, Thomas Merideth, C. S. Newton, W. A. Clinton and Uri Embody. The officers of the bank are: William Vickrey, President; Thomas Merideth, Vice-President; Uri Embody, Cashier.
The bank draws exchange direct npon San Francisco and the principal Eastern cities. From the date of its opening the bank has done a pros- perous business, and since the first six months of its existence has paid five per cent. semi- annual dividends to its stockholders. Its busi- ness is steadily growing, and its average deposits are about $100,000.
Southern California National Bank .- This institution, which ranks prominently among the great banking honses of the Pacific Coast, was organized in July, 1886, and opened its doors for business in its fine suite of banking rooms in the Nadeau Block, sonthwest corner of Spring and First streets, on August 21 following. The first officers of the bank were: H. H. Boyce
261
HISTORY OF LOS ANGELES COUNTY.
President; L. N. Breed, Vice-President; W. F. Bosbyshell, Cashier. On February 26, 1887, Mr. Boyce's stock was purchased by other par- ties and he retired from the bank, Mr. Jolin J. Reddick being elected to succeed him as Presi- dent.
January 1, 1888, an accumulated surplus of $10,000 was added to the capital of the bank. Owing to the growing demands of business thie capital stoek was increased May 1, 1888, to $200,000, $50,000 of it being taken by the old stockholders, and the other $50,000 was quickly taken by new men at twelve and a half per cent. premium. At that time a dividend of sixteen per cent. was declared to the old stock- holders. July 1, 1888, the surplus was increased by $4,000; and December 31, 1888, another dividend of four per cent. was declared, besides $2,000 additional surplus and the same amount of undivided profits earned by the bank to that date. During that month the stoek sold as higlı as $117.
At the annual election in Jannary, 1889, the following named gentlemen were elected as di- rectors: H. T. Newhall, Frank Rader, E. C. Bosbyshell, Charles E. Day, L. N. Breed, H. A. Barclay, M. Hagan, W. F. Bosbyshell, Thomas Goss, Daniel Remick and Louis Gotschalk. The present officers of the bank are: L. N. Breed, President; William F. Bosbyshell, Vice-Presi- dent; C. N. Flint, Cashier.
The bank's business has made a steady growth, especially since the beginning of the present year. Besides its $200,000 capital stock paid in, it has an accumulated surplus, undivided profits, of $22,000. The policy of the manage- ment has always been conservative and safe. Its thirty-eight stockholders represent an aggregate capital of over $7,000,000. It does a large ex- change business and draws direct on the princi- pal citics of the world.
The California Bank was incorporated Au- gust 7, 1887, and opened its doors for business in its own building, corner of Fort and Second streets, November 1, 1887. Its subscribed cap- ital stock is $500,000, paid up $300,000, and
surplus $20,000. There has been no material change in its management since it commenced business. The directors are: II. G. Newhall, President; II. C. Witmer, Vice-President; J. Frankenfield, Hewey Lindley, J. C. Kays, E. W. Jones and Juan Bernard.
T. J. Weldon is cashier and J. M. Witmer, assistant cashier. It was the last bank to join the Los Angeles Clearing House, being No. 8.
The Security Savings Bank and Trust Com- pany, of Los Angeles, was organized January 11, 1889, under the State law of California, to do the business of a savings bank and trust company, with an authorized capital of $200,000, and Feb- ruary 11 opened its doors for business in its commodious new banking rooms at No. 40 South Main street. It is equipped with large burglar and fire proof vault of the most modern construction. This bank loans money on real estate, and pays interest on deposits.
Mr. J. F. Sartori, its cashier, has been for the past two years cashier of the First National Bank of Monrovia, Los Angeles County. He is a native of Iowa, and came from tliat State to California in 1887. He was educated for the legal profession, and before coming to the Pa- cific Coast was engaged in the practice of law in Le Mars, lowa, as a partner with Congress- man I. S. Struble, of the Eleventh Iowa District.
EXPRESS BUSINESS.
The amount of business done by the express company (Wells, Fargo & Co.'s) affords some indication of the activity and growth of Los Angeles City. The books of the company show a steady increase of business from 1885 to and including 1888. The number of inen employed in the city by the company in the last named year was forty-four; number of pounds of freight handled licre, 6,833,011; number of wagons in use, elevenl.
POSTOFFICE.
The postoffice business of any city is always a pretty fair index to the general growth and increase of population. Here are a few statistics
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HISTORY OF LOS ANGELES COUNTY.
showing the business of the Los Angeles post- office for four years. The receipts were:
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