16(5 RESOURCES OF CALIFORNIA. 



meda, $27,000,000 in Santa Clara, $20,000,000 in Saertmientov 

 $18,000,000 in San Joaquin, $16,000,000 in Sonoma, and 

 $11,000,000 in Monterey; $9,000,000 each in Los Angeles, 

 Solano, and an Mateo, $8,000,000 in Mann and Yolo, and 

 smaller sums in the other counties. 



Alameda, San Mateo, and Marin owe their valuations, to a 

 great extent, to their position as present or prospective sub- 

 urbs of San Francisco 5 and the city with its suburbs con- 

 tains more than half the taxable property of the State. But in 

 addition to their possessions in and near the city, the inhabitants 

 and business men of San Francisco own large tracts of land, 

 many mines, saw-mills, irrigating and mining ditches, gas and 

 water works, elsewhere, and the total value of their property 

 is not less than $400,000,000, 



The banking capital of the State in 1873 amounted to about 

 $80,000,000, including $45,000,000 in savings banks in San 

 Francisco, and $9,000,000 in savings banks in interior towns. 

 The savings banks make long loans mostly of a year or more, 

 secured by mortgage at rates varying from nine to twelve per 

 cent, per annum. The insurance companies also loan their 

 money on mortgage. The commercial banks obtain from one 

 to one and a half per cent, per month, for one or two months, 

 on promissory notes secured by endorsement, or by the pledge 

 of collateral securities, among which mining stocks occupy a 

 prominent place. 



The dividends paid in San Francisco by incorporated com- 

 panies in 1873, amounted to $20,000,000, including $13,300,000 

 by mining companies, $3,700,000 by savings banks, $1,000,000 

 by commercial banks, $480,000 by the water company, 

 $410,000 by the gas company, and $227,000 by insurance 

 companies. 



124. Mining Stocks. The stock market in San Francis- 

 co is very active, and owes much of its profit to the silver 

 mines of Nevada. The sales of mining shares, in one board 

 of brokers, amounted to $146,000,000 in 1873, $189,000,000 



