Show LOS ANGELES BIDS BIOS FOR BUSINESS OF NEVADA I Standard Mining Miffing Stocks to Be BeTaken Taken by Bank Bankas as Collateral CUSTOM MAY BE GENERAL Believed Lead of American National Will Be Followed by ly Others Mining stocks are aro to lo be he taken talen as collateral by the Los Angeles banks In Inthe Inthe inthe the neat near future Such at nt lea least t Is the Innovation of or the A American nn National of that city and It is believed helle that others will follow In a vel very short time A recent Issue of oC tho the Los Angeles Angeles Ange Ange- les leM Times rImes says An In Important innovation and one that will tend to a advance vanco this city's position as a mining center In no small degree will shortly be made by the American National Z bank which acting acting- upon the account of or Director M. M 1 J. J Monnette will recognize recognize nize the legitimacy of mining stocks stock III in the hands of or customers as collat collat- erA eral I. I The matter Is one of oC vast Importance importance tance to the brokers who have been seriously hampered In th the past by a disinclination of oC banks to accept their securities It Is believed ed that lint the lead heat of or the American National will be followed by other bank in the city and that within the near future the leading banks s will accept paper when at attached attached attached at- at to the standard mining stocks It must not flot be le Inferred however howe i that any kind kinti of or security will be he ac ac- I Great care will be lie taken laken in I II I keeping cepin abreast of mining developments develop develop- ments but as all such loans will beon bo be boon on call there will sill be bp little risk It Itis Itis Its is s expected that such securities as Consolidated Florence Daisy Combination Fraction Delmont Del Rel- mont Nevada Hills SIlver PIttsburg-SIlver SlIver Peak Tonopah Mining and some s few Cew others will comman command up to 40 per percent percent percent cent of the dally daily prices as shown b by bythe the he exchange proceedings s of Los Angeles An An- geles cles New York and San Francisco to lieu Help Trade The rhe Tonopah Sun says It has lon long been an obstacle to toLo Los Lo os Angeles establish establishing In trade relations relations rela- rela ions with southern Nevada evada that banks anks of oC that city were not extending extend- extend in ing ng credit In this direction The Tue wholesale houses there wanted the business but the banks hanks were not willing villing to work worl In conjunction with them hem Tho The reco recognition at last Jast of oC th the meritorious mining stocks is the openIng open open- In Ing ng wedge e from which a general Jeneral reco recognition rec- rec o nillon of oC the credits of ot southern a. alla may follow UI U APEX AlEX gr ELECTS HO Ht A III for foa Ensuing Year at tt Portland a in I. I At the stockholders stockholders' meeting of nf the Utah Utah Apex company compan held at al Portland Maine Wednesday the following dl- dl t dl-t t l-t rectors were were elected for Cot on 1 t William F. F Fitzgerald of BrooklIne Charles A A. A Morse of oC New York James D. D Casey of or Brookline Henry Henr Bradley of or Bangor Me 1 R. R F. F Haffer Harrer jr of or Fall all River John W. W Home of oC Boston Edward R. R Hastings of or Boston John P. P Gorman of oC Boston Cowley Lambert Lamert Lam Lam- bert ert of or London England The rhe annual report Indicating the financial condition condl- condl lon tion of or the company an and the mine managers manager's report of September 1 1 1 JOS 1908 will soon be mailed to each shareholder |