Los Angeles daily herald., 1888-04-10


but surplus to send abroad. 1t is not to
our credit to send away thousands, and even
millions of dollars, as we nave done, ana
still are doing, to bring in butter, eggs, po-
which we can bring forth from our produc,,
tive soil, keeping our wealth here, instead
of sending it away.
The banks of our city have increased in
number, and both new and old have accu-
mulated resources by transacting a large
volume of business. Los Angeles is well
represented by our banking institutions, of
which she has good reason to be proud The
establishment OF a Clearing House during
The past year has filed a long felt want, and
was attained through the efforts Of the Com
mittee on Trade, Commerce and Banking
of this BoaId OF Trade.
The press of this city has during the past
year, as heretofore, done good work for
this section, and no one begrudges it its
share of general prosperity Some OF the
papers have laboied during years OF adver-
sity for the benefit of Southern California,
and these have now the consciousness OF q
duty well performed.
The railroads have taken an active part in
the recent Advancement. In every d1rec-
ton the iron horse is beating new paths,
and it is a poor day which does rot blng
the report of some additional road which Is
building, or proposing to build in this d.
rection. The railroads we have are like our
City Council, overwhelmed with work. incl
dent to the rapid growth Of this section.
been made by the officials of both COM
panies, ald between them aud our mer
chants general feeling of friendliness
exists. d.
undertaken the establishment of a free
kindergarten, for the benefit of poor, home
less children; aud 1 hope they will meet
with all the reimbursement and success
citizens for material help, hope that every
one will do the utmost to help them carry
out their purpose,
One of the drawbacks to Los Angeles has
been its lack of adequate hotel accOmmo
dation. This lack has been partially met
recently by new hotels; and the prospect is
that before long, we shall be prepared to
welcome all comers with more extensive
hotel accommodations than are boasted OF
in any commercial city of twice its size in
ed that visitors will continue to come
of they are warned Off by reports of insufiic-
lent accommodation, and consequent high
prices. This matter of high prices charged
evil-one, in part, depending upon another
evil, which bids fair to be eradicated,
that is high rents. The heavy, and
in i many instances, nsua sxof6itant =, rents IT.
have driven some out Of business, de-
tered others from engaging in it, and sent
many families away VINO could not afford
to live in this city. The unprecedented ac-
UNltS al UulluluB OpcIhtlODb rs, uOWtNcTy
to the demand, and the relief which
is already being felt, will doubtless soon
be still more evident. This relief would
for the Insufficient supply and excessively
high price of tuilding material, especially
lumber This has been, and continues to
be serious question, and one deserving of
your consideration. =, If by any proper
for for building material can be re.
duced to more reasonable basis, one
more nearly approaching the rates charged
elsewhere, / am convinced we shall see
building commenced on a sea- aie heretofore
not dreamed of. Beautiful homes will be
erected in every direction, and men of mod
crate means, freed from high rents, will not
only make living, bat become pros
porous, and consequently more rec, coatented.
aged and facilitated by the formation of
building associations, aud to the directors
of these organizations great credit is due
for the public spirit and sound juIgme ent
displayed by them.
While our manufacturing interests have
made considerable progress. they are as yet
far from being as extensive as desirable.
There are, asp already mentioned, many
should not be compelled to purchase abroad;
and the rapidly growing output of crude Pc
troleum at our very doors furnishes a cheap
fuel, which should be more generally util-
lures, which would settle the question that
has heretofore prevented the establishment
of manufactures in this county.
In no branch of business has activity
been so noticeable as in real estate. Ihe
transfers have exceededin number and ag-
gregate consideration, those OF any other
county on the American continent. For
tunes have been made. and SO attractive has
this form of investment become, that some
classes of property have been pushed on
th a mark Of in cdVanpe Of anv 1Qpiti m ate de-
mand. Still worse, e,the"bOom" has been taken
advantage Of by q few unptincipled: adyen-
turers, to work Off on unsuspecttng and
psSp S. IN RsPs1 ans pa
rem deserts. While people who are taken In
by these shames are guilty of extreme
negligence, such frauds work an
injury to all legitimate. business;
steps to furnish reliable information rela-
tive to any property placed upon the mark
ct elsewhere, and then publish extensively
its readiness and willingness to do SO. Such
a course would, I am satisfied, tU great ex-
tent, prevent and break up fraudulent bust
ness.
The establishment of the Free Bureau OF
Information by Mr. R. r. Haines, under the
auspices OF this Board OF Trade, will in a
great measure help us in this matter; for in
the few months o. its existence it has
proven a success and of immense benefit to
this community and to the many strangers
asking for information. The Board should
continue to give 1t all the help and encOur-
agement possible.
TO the Board of Supervisors of this county
our Board is indebted for the courtesy ex-
| tended in setting aside part OF the amount
appropriated to encourage 1mmigration.
They granted us 800 per month, to be de-
voted to the maintenance Of the reeBureau
| of Information, which without this sub.
| substantial aid could not have been a
success.
i While the real estate market now lacks
some of the excitement which marked 1t 9
few months ago. It IA still active. iaci
transfers filed for record during the past
few months, largely in excess of those for
the corresponding months of 1887
Among the many things upon which the
members of this Board have reason to con-
penings is the establishment near our city
Of the National Home for Disabled Volun
teer Soldiers. To Onr natural advantages
and the persistent efforts of this Board Of
ESQ.,, and our late lamented Secretary, A. M:
Lawrence, and also to the liberalsty. Of
our public-spirited citizens, is due this
great gain. Not only is 1t National recog.
nition Of our climatic advantages, but II
promises great direct, and indirect material
profits to this section.
During the past few months, many East
ern papers have given currency to attacks
upon this country; denying it's mild
climate, the fertility of its soil, and its gen
eral prosperity; asserting present collapse
or predicting one in thu. e.9ear future. Q 9
has not far to look for the cause OF these
attacks;the stream 0! desirable immigration
and the accompanying wealth, which has
been flowing. away from them to us, hal
created drain which has been severely
| felt by many Eastern cities. Newspapers
i have been called upon to check this Outg0
and have endeavored to do so regardless o.
| ecot = hi hQVa thInpa 6QQprV
1 ing Of criticism, which must be the case II
any rapidly growing place, we must object
to these exaggerations and falsehoods Some
napers with manliness worthy of praise
have endeavored to do US justice, acknow
ledging our advantages and resources
while criticising our shortcomings. !! be
lieve the climax has been reached In thes'
Injurious Misrepresentation, and that re
action will follow from which we shal
reap great benefit To hasten this desirable
contamination ! request oil members o
this Board to try to reach their eastern
friends especially through the medium o