Daily Los Angeles herald. [microfilm reel] (Los Angeles [Calif.]) 1876-1884, 1880-07-04

Taesday.
HseEdsd Les Asgeies RevivaI-WBy
ssgeleaos are sssE mine.
we should not voluntarily seek
70 stimulate the hopes Of our peo.
pie unless we had good grounds for
the faith that Is in US. In our
opinion Los Angeles city and coun-
~ are just upon the eve OF the
most marked and enduring pros
pertts they have ever known. 1t is
true we may not again see the fever
th real estate speculation which
ehara eterized prosperous move
snents in the past. Everything
hereafter will be on the sober plane
81 real values, but notable real
estate activity, also, will not be
wanting to the new era.
Every one who is at all acquaint.
81 with the later fortunes of Los
Angeles knows perfectly we'll that
lnis section has undergone unpre-
eederted drawbacks during the
,,ssa. Ave years. First came the
failure Of the Bank OF California,
which was followed by the collapse
Of our Los Angeles firm Of Temple
q Workman. The year following
This anheard of calamity, we had
ihp smallpox epidemic, which
cars cd Los Angeles to be tempo
rafy abandoned as a resort for
health and pleasure. Next came q
wear of total and then a year of par
.ial irouth. 1t Is small wonder
that, with universal stagnation
on The coast, our young and piom-
ising city staggered little. The
crest wonder have been if
&c lad not.
During this crucial period the
Sop.bern Pacific Railroad was com.
pete ed to Los Angeles from San
francisco. Probably no one fa-
liilar with the history of railways
il ignorant Of the fact that the first
eject of the completion of such en-
terprises is one of disappointment.
A. The snort of the iron horse be.
came palmer and palmer, our
M,iave and Inyo trade dropped off.
Tee numerous mule teams which
had consumed our hay aud bar
icy, and gave employment to our
blacksmiths and wagon.makers,
rapidly became thing of the past,
except as an incident of farming
operations. In addition, country
MERCHANTS were brought into direct
connection With San Francisco
Jobbers. Take it altogether. the
situation for Los Angeles became
gloomy indeed.
To aggravate these grievous
drawbacks speculation In Los An.
gslss real estate had grown to un-
healthy proportions. Men who had
bought lands within the city limits
for y few dollars by the acre,
had no hesitation in demanding a.
thousand dollars for single lots of
these sub divided forty acre tracts.
These demands were greediIy COM
piled with by purchasers, and, I'm.
der the stress Of the circumstances
we have outlined, real estate went
down, down, down, until there
seemed no bottom to II.
We are now bravely over all
these discouraglng phases of our
history. and the rainbow Of promise
10 set very brightly in the sky.
No real estate on the American
at present prices. offers
such inducements to the investor
~ ours does to-day.
The reasons for the change can
be compendiously stated. The pro-
gress of the railway, which at first
seemed to nip our prosperity, has
bssn steadily recorded until it has
now passed Tucson. Our farmers
now fspi ~ Arizorr nnrhet
which compensates them twenty
fold for he lost market ufiusornup-
ty In liz hest aaya. So great is The
chasee that sLey can now
ssll their hay and barley and Their
wheat, hs latter la the shape osI
flour. 81 n psont, when The people
u The rect Of the State may stand
Arcnnd anxiously calculating D,ar-
,ins aud specuiating AS TO ruling
stts Oar rnercheuts. also, feel
4 : rs1 knd grslAs.9ps sl.nlalus, !
md fiseir a 20 10 Arizons rstaiiers |
aore mar is@ xe an1ends for any
S5t 1osz IN other distrIca.
N Z T. !! zIdoe ~ bsgfu 60 tell tbej
b. Ii : Stjkx< .Jsss ssttleEfrn: and I
vys;op{ ~ nf ar 1srs2nsa ara bpt
+ <lseif Infsncs. 'l.,a rromiss Il
q Is INT. ia our 1ejA b1ok;a8I
belnz Developed and &