April 4, 1900 — Bixby Land Company minutes book- , the minutes note that the company borrowed money from Farmers and Merchants Bank of Los Angeles. By February 1901 the debt had grown to $15,000, and the land company also owed the Palos Verdes Company $2,551.98 for “Sundry notes” given by tenants to that company for hay and grain. To put in a crop next year, the secretary wrote in the minute book, the company needed $20,000 more than it had already borrowed. The directors also noted that they were without money to meet their obligations, and Jotham Bixby, who had served as guarantor of the company’s debts in the past, now objected to continuing in this role. So the directors decided to obtain funds by levying an assessment on the capital stock of the company at the rate of seven dollars per share. The assessment would come due April 1 and must be paid by May 6, 1901.
This meant that Jotham Bixby had to pay $8,715 on his 1,245 shares; George H. Bixby, George Stewart, George Mohrenstecher, and the Palos Verdes Company each owed seven dollars on their one share. Los Angeles Savings Bank, which apparently held Lewellyn Bixby’s stock, had 1,243 shares and owed $8,701; Dyer, who owned 1,250 shares, owed $8,750; and Capitain, who owned 1,249 shares, owed $8,743. Everyone but Capitain paid the assessment. Capitain’s stock was declared delinquent, sold at public auction, and purchased by Bixby Land Company. Despite this, the assessment raised $26,194, which was enough to get the company through the next year when the weather significantly improved.

April 4, 1900 — Bixby Land Company minutes book- , the minutes note that the company borrowed money from Farmers and Merchants Bank of Los Angeles. By February 1901 the debt had grown to $15,000, and the land company also owed the Palos Verdes Company $2,551.98 for “Sundry notes” given by tenants to that company for hay and grain. To put in a crop next year, the secretary wrote in the minute book, the company needed $20,000 more than it had already borrowed. The directors also noted that they were without money to meet their obligations, and Jotham Bixby, who had served as guarantor of the company’s debts in the past, now objected to continuing in this role. So the directors decided to obtain funds by levying an assessment on the capital stock of the company at the rate of seven dollars per share. The assessment would come due April 1 and must be paid by May 6, 1901.
This meant that Jotham Bixby had to pay $8,715 on his 1,245 shares; George H. Bixby, George Stewart, George Mohrenstecher, and the Palos Verdes Company each owed seven dollars on their one share. Los Angeles Savings Bank, which apparently held Lewellyn Bixby’s stock, had 1,243 shares and owed $8,701; Dyer, who owned 1,250 shares, owed $8,750; and Capitain, who owned 1,249 shares, owed $8,743. Everyone but Capitain paid the assessment. Capitain’s stock was declared delinquent, sold at public auction, and purchased by Bixby Land Company. Despite this, the assessment raised $26,194, which was enough to get the company through the next year when the weather significantly improved.