DIVISION FOUR — BOOM. 



297 



363 feet on Colorado street by 293 Vg on Fair Oaks, containing within a fraction 

 of three acres of land. It also includes the well-known and popular " Los 

 Angeles House" hotel with all its furniture. The Pasadena bank is now 

 being reorganized as the First National Bank of Pasadena, and will have its 

 quarters on this property, taking the corner lot 45 x 120 feet, on which a 

 thoroughly fire-proof building will be erected." 



The Board of Trade pamphlet of 1888 said, on page 21 : 

 "One year ago there was practically but one bank in Pasadena, the 

 second having just opened its doors. [The S. G. V. Bank.] The total de- 

 posits then were $412,924.46. The loans and discounts amounted to $268,- 

 209.77. As t^is w^ork goes to press the deposits in the banks of Pasadena 

 amount to $1,682,339.49, and the total loans $984,322.83. The total bank 

 capital a year ago was $50,000 ; today it amounts to $300,000. " 



The following chronological exhibit was prepared by H. I. Stuart, a 

 bookkeeper in this bank, at my request, especially for this sketch, and forms 

 a most valuable and interesting table for future reference and comparison : 



YEAR. 



1885 

 1886 

 1887 

 1888 

 1889 

 1890 

 1891 

 1892 

 1893 



DEPOSITS. 



December 31. 



$ 148,966 75 

 583,719 18 



1,039.057 72 

 514.194 73 

 341,840 00 

 382,079 81 

 417,106 16 

 484,027 04 

 403,522 39 

 550,970 64 



LOANS AND 

 DISCOUNTS 



December 31 



$ 88,191 II 

 343,647 50 

 618,255 64 

 351,182 26 

 268,966 21 

 286,987 73 

 332,260 42 



304,845 36 

 289,660 55 

 382,409 99 



TOTAL VOLUME 

 OF BUSINESS. 



$ 5,200,000 00 

 30,900,000 00 

 46,920,084 00 

 31,184,166 00 

 16,827,000 00 

 14,944,754 00 

 19,530,000 00 

 26,530,000 00 

 23,464,000 00 

 26,125,000 00 



REMARKS. 



(^ These were the 



i " boom " years. 



Boom collapsed. 



The Daily Star of June 9, 1895, reports the annual meeting of this 

 bank on the 8th, and says : 



"The following directors were elected for the ensuing year: P. M. 

 Green, B. F. Ball, Geo. H. Bonebrake, H. G. Bennett, H. M. Hamilton, A. 

 K. McQuilling, O. S. Picher. This is a re-election of the entire board. The 

 same ofiicers were also elected to-wit : P. M. Green, president ; B. F. Ball, 

 vice-president ; A. H. Conger, cashier ; Ernest H. May, assistant cashier. 



The reports of the officers show that the volume of deposits, loans and 

 discounts done by the bank for 1894 was the largest since the most prosper- 

 ous 3^ear of the boom. Its capital is $100,000; its surplus $60,000, and at 

 the close of business October 2 last, it had resources to the amount of 

 $735,691.51. At that date its deposits amounted to $555,942.62. Hon. P. 

 M. Green has been president of this bank continuously since its first organi- 

 zation." 



The San Gabriel Valley Bank. — This bank was organized under 

 the state law, and its articles of incorporation filed February 6, 1886, the 

 Ward Brothers having been prime movers in the matter. Capital stock, 

 $50,000 — all paid in. The Union of May 21, said : 



"The San Gabriel Valley Bank will open for business in its elegant 

 quarters in the Ward Block Monday. The capital stock of $50,000 has all 



