The San Francisco Directory, 1874, Part 7

Author:
Publication date: 1874
Publisher: San Francisco : Langley, Henry G.
Number of Pages: 1128

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PACIFIC COAST BUSINESS DIRECTORY circulates throughout the Pacific Coast.

The Income of the ETNA INS. CO. of Hartford amounts to nearly $17,000 per Day, Henry Carlton Jr., Agent, 14 Merchants' Exchange, S. F.

KENNEDY'S INSURANCE AGENCY, Fire, Marine, and Life, represents $12,000,000.

SAN FRANCISCO DIRECTORY.

Banking and Insurance.

SAVINGS BANKS OF SAN FRANCISCO .- The savings banks of a community afford the very best criterion upon which to form an estimate of its material, social, and moral status. It is here that we have to look for evidences of its thrift, economy, sobriety, and law-abiding tendency. The possession of means by the masses promotes independence of thought and action, and excites a deep interest in the permanence of institutions from which they derive substantial benefits. They constitute the best citizens in time of peace, and the most reliable soldiery in time of war, who are the proprietors of the projects they legislate for and defend. Savings banks are continual checks upon the designs of unscrupulous demagogues whose object it is to achieve political ascendency by instituting a conflict between labor and capital. They are silent but powerful reminders of the fact that the interests of all classes are homo- geneous, and that labor is as necessarily the friend and coadjutor of capital, as capital is the rewarder of labor. The millions of financial driblets which find their way into savings banks are there collected into grand reservoirs of loanable funds, which issue again in large and fertilizing streams, refreshing commerce, stimulating enterprise, promoting industry, and establishing manufactures ; all of which provide additional arsenals for labor, new workshops for the industrious, and return compound interest to the owners of funds deposited in the savings banks. The wealthier classes, through the agency of savings banks are constant borrowers from their employés, who, in turn, are steadily prospering by reason of the financial facilities they are collectively enabled to afford. To institute a comparison between the savings banks of the different sections is simply to demonstrate the difference of compensation paid to labor in those sections ; to determine the relative thrift and economy of their populations, and to show the recurrent benefits which capital receives from liberally recompensed service.

EDWARD BOSQUI & CO., Paper Rulers, Leidesdorff Street, corner of Clay.

The latest statistics received respecting Eastern savings banks indicate that they are increas- ing in number and importance in the States of New York, Maine, New Hampshire, Vermont, Massachusetts, Rhode Island, and Connecticut. The combined capital deposited in the sav- ings banks of those States on the 1st of March, 1873-since when no data have come to hand- exceeded $600,000,000, which is much in excess of the combined banking capital of the whole Union, exclusive of the savings institutions. The total number of depositors in all Eastern savings banks is stated to be one million seven hundred and sixty-six thousand three hundred and twenty-one, which gives an average of $343, currency, to each individual. The aggregate population of New England, as established by the last census, is three million four hundred and eighty-eight thousand, and there are, in that section, three hundred and eighty-one savings banks, with a combined deposit of $312,000,000. The number of depositors is nine hundred and eighty-nine thousand four hundred and sixty, equal to one depositor out of every four persons. The average to each depositor in the New England States is as follows : Massa- chusetts, $219.70 ; Connecticut, $352.17; New Hampshire, $284.60 ; Maine, $328.30; and in Rhode Island, $455.43, which is considerably beyond that of the other New England States or New York, and the highest in the world outside of California. All the foregoing express currency alone. The returns from Vermont are deficient and unreliable. In some of the Eastern States investments are restricted to classified securities, while much wider limits are allowed by law in others. In New York the aggregate investments are in bonds and mortgages, United States stocks, New York State stocks, stocks of other States, and bonds of cities, counties, and towns of that State. One year ago her savings banks had $96,000,000 loaned on bond and mortgage, and $156,000,000 invested in stocks. Massachusetts had $74,000,000 on bond and mortgage, $14,000,000 loaned to towns and cities, and $24,000,000 invested in stocks. Connecticut had $38,000,000 loaned on real estate. Until within a few years the laws of California compelled her savings banks to confine their loans to real estate; but they are now allowed a wider margin, and may furnish accommodations on California State and County Bonds, United States Mint Certificates of determined value, gold and silver bullion, United States Bonds, and real estate.

The first savings bank, of which there is any historical record, was organized in England through the efforts of the Right Hon. George Rose, who obtained from Parliament, in 1817,

SPRINGFIELD INS. CO. paid Losses in full at Troy, Portland, Chicago, and Boston,

C. P. VAN SCHAACK & CO., 708, 712, 714, and 716 Kearny St., Importers and Jobbers.

PROGRESS OF THE CITY. 33

the passage of " An Act to encourage the establishment of Banks of Savings in England." British savings banks are conducted on a principle quite different from that which obtains in this country. They are under governmental control, all the money deposited being loaned upon interest to the Government, and depositors are restricted in the amount of their lodg- ments, so as to exclude all but the humbler classes. In 1861 post-office savings banks were organized in Great Britain, and they have, by the greater facilities they afford, and the undoubted security they offer, largely reduced the number of ordinary savings banks, and, still further, the amount of funds deposited in them. The total received from and paid to depositors in post-office savings banks throughout the United Kingdom, in 1870, was as follows : Received, including interest, £6,084,610 ; paid out, £4,227,056 ; computed capital, £13,524,200. The total amounts officially reported as received from and paid to depositors in ordinary savings banks, at the same date, were : Received, £7,667,735 ; paid out, £7,857,091 ; computed capital, £37,500,522, which, added to the computed capital of the post-office depos- itories, gives a grand total of £51,024,731, prudentially invested by the humble classes of the United Kingdom. Reducing pounds sterling to dollars and cents, at $4.86 to the pound, the aggregate of deposits in all the savings institutions of the United Kingdom is $247,980,192, and the population being twenty-eight million, the representative amount to each individual is $8.85. The combined populations of New York and the New England States is seven million eight hundred and seventy thousand six hundred and eighty-three, and the depositary repre- sentation for each individual is $76.10. The census of 1870 accords to this State a population of only five hundred and sixty thousand two hundred and forty-seven, of which seventy thousand are Chinese, and something like eight thousand are Indians, neither of whom make use of our savings banks. We have, then, only about four hundred and eighty-two thousand who are at all likely to be depositors, and the average depositary representation to each person is $111, in round numbers, being $35 in excess of the East, and $102.15 in advance of the United Kingdom. San Francisco makes a still more satisfactory exhibit. The population of this city, 1873, is estimated by the highest authorities to be one hundred and eighty-eight thou- sand, of whom twelve thousand are Chinese, leaving one hundred and seventy-six thousand liable to make deposits, which, on the 1st of January, 1874, reached $46,745,044, being a depositary representation of $265.75 to each inhabitant, and is far in excess of any other portion of the globe. Without further preface we subjoin a tabulated statement of the San Francisco savings banks as they were on the 1st of January, 1874 :

SEMI-ANNUAL STATEMENT OF SAN FRANCISCO SAVINGS INSTITUTIONS, DECEMBER 31, 1873.

NAME

Number Depositors.

Amount of Deposits.

Gross Earnings.

Reserve Fund.

Amount Divided.

Savings and Loan Society.

8,003

$10,126,496

$513,104

$339,479

$458,361

Hibernia Savings and Loan Society.

16,174

12,827,745

565,766

729,869

475,829

French Savings and Loan Society.

6,128

5,330,519

280,032

154,247

245,477

San Francisco Savings Union ....

5,581

5,430,133

270,013

218,805

243,448

Odd Fellows' Savings Bank ..

6,396

5,856,508

265,706

86,274

225,566

Farmers' and Mechanics' Bank of Savings

506

894,795

26,163

50,000

17,300

German Savings and Loan Society.

5,029

4,145,517

200,155

133,500

167,987

Masonic Savings and Loan Bank.

2,188

1,047,317

50,035

23,145

45,95%

Humboldt Savings and Loan Society

1,000

666,201

33,834

52,736

20,078

Security Savings Bank

802

919,813

52,085

300,000

43,608

Totals, January, 1874.

51,807

$46,745,044

$2,266,224

Totals, January, 1873.

46,060

42,474,935

2,233,800

$2,001,055 1,852,770

$1,949,610 1,818,403

Increase in one year.

5,747

$4,270,109

$32,334

$238,285

$131,204

The average to each depositor is $902.25, gold, equal to $1,000, currency, in round numbers, and is therefore $545 more than the average of Rhode Island depositors, which, outside of Cali- fornia, is the highest known. A glance at the table will show the increased business for 1873 as compared with 1872.

COMMERCIAL BANKS .- Banks of issue are prohibited by the Constitution of California, and all our commercial banks are operating within the limits prescribed by law. We have taken much pains to arrive at something like a correct statement of the amount of money employed

PACIFIC COAST BUSINESS DIRECTORY, 1874-6, H. G. Langley, Pub'r, S. F. Price $5.

ETNA INS. CO. of Hartford has a Paid-up Capital of $3,000,000, and Cash Assets of nearly $6,000,000, GEO. C. BOARDMAN, Manager.

SAN FRANCISCO INSURANCE CO. (Fire and Marine), office 411 California.

SAN FRANCISCO DIRECTORY.

in the banking operations of California, and furnish the following synopsis as the result. Of the nineteen commercial banks operating in this city, the Bank of California occupies the foremost rank, both by reason of its larger operations, and its recognized standing in all business communities throughout the civilized world. Its capital and deposits amount to $14,000,000, and its transactions are on a gigantic scale. The stockholders are all men of wealth, and its affairs have been managed with ability. Next in rank is the London and San Francisco Bank, limited. During the past year, the Anglo-Californian Bank has filled an important position, and all its contemporaries have been measurably successful. Not one of them sustained the slightest abrasion from the financial shock which demolished so many eminent Eastern banks. The united capital of our metropolitan commercial banks is about $20,000,000, controlling an equal amount of deposits, and if we add the $46,000,000 compris- ing the capital and deposits of our savings institutions, we have a working total of $86,000,000 in this city alone. Interior savings banks hold $10,000,000 of deposits, and by making & liberal allowance of $5,000,000 more, for private interior banking capital, we find a grand total of $110,000,000 of funds employed in the business of this State. The rates at which discounts have been made in the metropolis were one to one and one quarter per cent., monthly, in commercial banks, and nine to twelve per cent., per annum, on mortgage and State securi- ties, in the savings institutions. The amount of dividends disbursed by our banks of all classes during the past year, was about $10,000,000, of which the savings banks paid in the neighbor- hood of $5,000,000.

NATIONAL GOLD NOTE BANKS .- These institutions are peculiar to California, and operate in accordance with Federal regulations as established by Act of Congress passed in July, 1870. Their success in this State has been very satisfactory to shareholders, and they have largely contributed to the general ease of the money market. The capital is restricted by law to one million each, and for the privilege of issuing notes, each bank doing business on a million capital, is required to deposit with the United States Sub-Treasurer the sum of one million two hundred and fifty thousand dollars in Government six per cent. bonds, and to keep on hand gold enough to redeem its notes on presentation. Gold notes, received at first with hes- itancy, are now eagerly sought, as they are more readily transported in large sums than gold, and are exchangeable for gold at any time, but they are not receivable in payment of Custom House duties.

The gold note banks of San Francisco are two in number, viz .: The First National Gold Note Bank of San Francisco, and the National Gold Bank and Trust Company of San Fran- cisco. The resources of the first named, as reported by the Controller on the 27th of February, 1874, amounted to $3,511,508, and those of the National Gold Bank and Trust Company were $4,758,825. Whenever visited by the Controller these banks are summoned to give an exact account of their condition some two or three weeks anterior to the date of summons. They are flourishing institutions, and have thoroughly acquired public confidence.

Meteorological Observations made at San Francisco from November, 1850, to April, 1874.

BY HENRY GIBBONS, M.D.

IN the following tables the reader will find, in a condensed form, the results of twenty-three years' diligent observation of the climate of San Francisco, with more particular reference to rain. A single glance at the rain tables will present the quantity of rain which has fallen in each month since 1850 ; the quantity in each season ; the quantity before and after the end of the year ; the date of the beginning and ending of each rainy season, and the date of the first and last scattering rains. The following are some of the deductions presented by this record :

Rain has fallen in every month of the year. In July it has rained only in one year ; August has furnished rain in four years ; June in six years ; September in seven years ; October in eleven years. No account is made of a mere sprinkle, nor of the deposit of summer mist. The greatest quantity of mist which ever falls in twenty-four hours is about three hundredths of an inch. But this quantity is very rare. Near the ocean the mist is much more copious. The driest season was 1850-51, which gave only seven inches. Next to that was 1863-64, with eight and one half inches. The winter of 1867-68 gave the most rain-forty inches. The average is between twenty-one and twenty-two inches.

The earliest setting in of the rainy season was November 1; the latest, January 12. An.

FARNSWORTH & CLARK, Gen'l Fire and Marine Insurance Agency; office 230 Cal. St.

EDWARD BOSQUI & CO., Stationers, Printers, and Bookbinders, corner of Clay and Leidesdorff Streets.

C. P. VAN SCHAACK & CO., 708, 712, 714, and 716 Kearny St., Importers and Jobbers.

METEOROLOGICAL OBSERVATIONS.

early beginning and an abundant supply are apt to go together, but there is no rule in this respect. The latest beginnings have been followed by an average supply.

The average date of the beginning of the rainy season is November 28 ; of the termination, April 10. March is as certain to bring rain in liberal amount as any other month. In one year out of every three there is no rain of importance after March. The last showers of the season come, with remarkable uniformity, about the third week of May.

The middle of January is the average dividing point of the rainy season. The mean quantity before January 1 is about equal to the mean quantity after January 31.

December gives the greatest average quantity ; January is not far behind ; February, March, and November come next, and are nearly alike; then April, May, and Oct., in the order named. The greatest amount of rain in any one month was in January, 1862, when there fell the enormous quantity of eighteen inches.

It is worthy of note that in the driest seasons there has been an abundant supply for agri- cultural purposes, had it been distributed evenly. Three inches in December, with one inch in each of the four following months, would answer all purposes.

The rain-table of San Francisco may be made the basis for estimating the fall in other parts of the State. The mountains of the north have from two to three times as much, and the southern section of the State about half as much, or even less in some localities. The valley of the Sacramento has nearly the same quantity as San Francisco ; that of the San Joaquin one fourth or one third less, the quantity diminishing southward.

By reference to the tables showing the extremes of heat and cold, it appears that the coldest weather was in January, 1854, when the mercury fell to 25°. At that time the mud in the streets was frozen solid, and the shallow ponds were covered with ice strong enough for boys to skate on. But such weather is extremely rare, though since that time the ground has been frozen several times so as not to thaw fully in the shade for a day or two. The coldest noonday embraced in the record was 37°. Often the entire winter passes by without bringing the ther- mometer so low as the freezing point. In 1853 it fell at no time below 40°.

The extreme of heat was on the tenth and eleventh of September, 1852, when the ther- mometer reached 97º and 98° on the two days, respectively. This, however, was entirely excep- tional, and might not occur again in half a century. The air was dry as a sirocco, and caused the woodwork of houses to crackle and the plaster to break on the wooden walls.

With the exception just noted, the hottest day on record was 93º on the sixth day of July, 1867. In October, 1864, and in September, 1865, it reached 91°, and in July, 1855, it reached 90°. Thus it appears there were only six days in twenty years when the thermometer rose as high as 90°.

The table of mean temperature shows that our summer does not come till the summer months have passed by. September is the warmest month in the year, and October next ; then comes August ; July, the hottest month elsewhere, is the fourth here, or ranks with June ; next come April and May ; then March and November ; then February, and finally January and De- cember, which are the only winter months, if indeed we have any weather that deserves the name of winter.

Twice the ground has been covered with snow. On the twenty-ninth of December, 1856, it snowed very fast for several hours, and two or three inches gathered, but it melted before night. On the twelfth of January, 1868, it snowed fast before day, so that two inches collected. But it disappeared before sunrise, so that few persons enjoyed the rare spectacle.

The extraordinary evenness of the climate depends on the adjacent ocean, the water of which, flowing in a current from the north, is always at a temperature of about 50°, summer and winter. The sea breeze of summer, which chills the air at noonday, leaves no place for hot nights. There is not, on an average, one night in the year when it is warm enough to sit out of doors at midnight with comfort.

TABLE I .- Showing the Amount of Rain in each Month since 1850; and the Total Amount in each Rainy Season. NOTE .- Each Column represents one Rainy Season.

MONTH.

1851 1852 1853 1854 1855 1856 1857 1858 1859 1860 1861 1862,1863 1864 1865 1-66 1867 1868

1869

1870

1871

1872.1873

August

...

September

1.0

October.

2.1

3.4

1.2

1.24

.49

2.91 1.25

December.

7.1.11.9

2.1

5.4

4.0

4.2

4.8

1.5

4.8

6.1|

2.7

1.7

6.9

6 13.1 12. 1

4.3 4.50

3.04 13.40

7.80,9.59

1852 1853 1854 1855 1856 1857 1858 1859 1860 1861 1862 1863 1864;1865 1866 1867 1868 1869

1870

1871

1872

1873 1874

January.

.6 4.1

4.3

4.5

8.4

2.1

4.4

1.0

1.1

1.2,18.1 2.8

6.1:

3.3 3.3 2.4 2.9

1.4

1.1

2.2|

2.2

1.49 2.65 1.22

.37 .89

May

.2 5.1 .3

2.2

2.0

2.6

1.8 .2

.1.

0.36

.31

June

Totals

118.2 33.5 23.0,24.1 21.2 20.0 19.0 19.8 17.1 14.6,38.0 15.2: 8.5 21.3.21.2 32.0 40.5.21.6 20.08 13.08 33. 10;17.58

1850 .- Nov., 1.3; Dec., 1.1. 1851 .- Jan., 0.6; Feb., 0.4; March, 1.9; April, 1.1; May, .7. Total, 7.1.

PACIFIC COAST BUSINESS DIRECTORY contains Addresses of over 50,000 Merchants.

ETNA INS. CO. of Hartford has been established 54 years, and has paid over $40,000,000 Losses.

3.76

2.3$ 6.50

2.27 5.33

February

.1 1.2

8.4

4.6

8.6

1.3

5.2

1,4

3.1

3,4

1.7

1.1

1.7

.06; .04

.04

.13

.06 .56

November

2.2 5.3

1.4

1.2

2.9

3.0

5 5.4

3.8

2.5

7.6

3.1| 2.7

3.1

4.0 4.53

3.55

7.90

3.40 2.49

March

6.4 4.8

3.2

4.3

1.6

3.9

3.2

1.3

3.9 11.0 6.6 9.6. 6.4

.8 1,5 .6 2.6

6.2| 2.2

6.2

6.4

3.2

1.84 1.24 1.53

.743.56

April

3.3

5.6

1.1

July.

...

....

.7 4

2.5

EDWARD BOSQUI & CO., Bookbinders and Job Printers, corner of Leidesdorff and Clay Streets.

TABLE III. - Maximum Quantity of Rain in each Month, Minimum Quantity in each Month, and Average Quantity in each Month, since 1850.

Jan.

Feb

Mar.

Ap'l. May.

June July.

Aug.

Sept.

Oct.

Nov.

Dec.

Maximum.

18.1

8.6

6.4

5.6

2.0

0.2

0.3

0.2

3.4

7.6

13.4

Minimum

0.6

0.0

0.6

0.0

0.6

0.0

0.1

0.4

Mean.

4.8

3.3

3.0

1.7

.50

0.4

0.1

.05

.37

2.4

5.0

TABLE IV .- Mean Temperature of each Month since 1850, deduced from Two Daily Observations, one at Sunrise, the other at Noon ; also, the Mean Temperature of each Year.

MONTH.

1851 1852 1853 1854 1855 1856 1857 1858 1859 1860 1861 1862 1863 1864 1865 1866 1867 1868 1869 1870 1871 1872 1873

January

49.3 50.8 52.0 48.2.51.0 48.8 51.2 46.3.46.5 47.8 47.5 47.6 57.7 52.5 49. 4 49.0 51.2 45.9 51.2 52.5.51.5 53.3 55.5

February

51.1 53.1 54. 1 53.6,56.8 53.7 51. 4:53. 1:48.8 50.5,51. 1 46. 7 50.9 55.9 51.0 53. 4 52. 0 51.9,51.2 53.5 51.0 55.0 50.0

March.

53.8:52.9 55.9 54. 1 59. 4 55.9 55.9 52. 0 49.0 53.0,53. 7 50.2 57.8 55.6 53. 3 54.3 50.5 53.5 57. 4 51.5 53.2 55.6 55.1

April

57.7.55.458.350.857.755.9 58.855.7.53.653.057.151.355.7 57.9 55.5 58.4 57.555.356.554.851.2 54.554.8

May

57.0 55.1 60.7 56.8 57.7 56.2 57.5,57.6 57.2 54.0 57.5 55.5 57.6 58.9 62.0 58.0 58.3 59.0 58.5 58.4 55.3 57.6 55.1

June

58.8:60.4 61.9 58.5 59.9:59.1 60.9:58.7 61.5 57.9 57.6 61.258.2 58.3.61.2 62.0 60.2,58.0,60.0.58.4 56.5 60.0 56.2

July

57.9 61.4:60.3 61.3.61.2 59. 4 59.2, 60. 7 59. 3 61 . 3 58. 5 61. 7 59.7 57.6 61. 1 59. 6 63.2 50.6 60.2 62. 4 58.0 50.7:57.5

August

63.2 61.2,60.0 60. 362. 5 50.6 59. 1 61.9:61. 1 62.5,58.9 62.0 61. 1 60.6 60. 0 59. 0 60. 4 59. 8 59.6 64.3 59.5 59.8,60.0

September.

61.6;63.1 62.7 60.5 62. 4 61.5 60.8 62. 4 61 . 4 62. 9 60. 3 61 . 3 63. 6 60.3 63.3,62. 1 61.350.3 60.0:61.5 61. 4,60.0 58.7

October.

61.9 58.7 62.7 60.7 61. 6 57.6 60.6 57.8 59. 7 56. 8 56. 0 63.3 62. 2 59.6 58. 7 62. 0 58.2 60.8,60.5 58.0 61.2 62.2 58.6

November

56.3 53.5 57.0 58.0 52.9,53.3 54.5 54.0 53.5 52.8 54.2:56.2 57.3 56.0 57.6 56.6 56.7.57.2 56. 4 55. 4 56.6 58.0 56.4

December.

51.3 50.8 52.1 53.8 47.8 47.0 50.5 44. 8 46. 3 49. 2 51. 7 49.5 53. 7 51.0 47. 2 54. 7 55. 3 53.2 50.7 51.0 54.7 51.3 49.0

Mean

56.656.558.1,57.157.655.757.055.454.855.155.455.557.5 57.0,56.757.457.156.156.956.854.6|55.4|55.7

TABLE V .- Extremes of Heat in each Month since 1850 ; also, in each Year.

MONTH.

1851 1852 1853 1854 1855 1856 1857 1858 1859 1860 1861 1862 1863 1864 1865 1866 1867 1868 1869 1870 1871 1872 1873

February.

March

May

June.

October.

6-1

Year

93 | 86

TABLE VI .- Extremes of Cold in each Month since 1850 ; also, in each Year.

MONTH.

1851 1852 1853 1854 1855 1856 1857 1858 1859 1860 1861 1862 1863 1864 1865 1866 1867 1868 1869 1870 1871 1872 1873

January

February

March

May

June.

46 48

October

December

Year

35 |

30 |31

2.4

4.7

1863-64

Sept. 19| May

17 Nov. 11'April

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The San Francisco Directory, 1874, Part 7

Author: Publication date: 1874 Publisher: San Francisco : Langley, Henry G. Number of Pages: 1128

Author:
Publication date: 1874
Publisher: San Francisco : Langley, Henry G.
Number of Pages: 1128