Sacramento daily record-union. [volume] (Sacramento [Calif.]) 1875-1891, 1888-02-29
BoLsrERING A DECLINING MARKET.


ar Also, for sale on al Trains leaving and
coming into Sacramento.
a--.---.
B0LsTERING A DECLINING MARKET.
The San Francisco Chronicle gives cur
rency to silly story relating to the re-
moval of the railroad shops from this city
to the city of Los Angeles. II is scarcely
necessary TO say that the story is without
the slightest foundation in fact, and yet
the Chronicle publishes the details of the
purchase of large tract of land at 81, 200
an acre near the city of Los Angeles, to
which the shops now located here are to
be removed. 1t is now pretty thoroughly
understood that the real estate market of
Los Angeles has been declining for the
past six months; that the first effect of this
decline was felt on outside property that
the subsistence of the boom feeling Is shown
and felt in the declining real estate values
in that city. During all the period of
scandalous speculation in real estate in Los
Angeles and vicinity the location of rail
road shops has played conspicuous part.
Some ten of the paper towns located on
the deserts in the vicinity of Los Angeles
were floated on the market by statements
that the Southern Pacific Company had
purchased large blocks of land as the basis
for shops for the manufacture of cars after
the style of the Pullman car factory at
Chicago. No sooner was a town sold, and
the suckers taken in, than the proposed
location of the great car factory of the
Southern Pacific Company was removed
from that locality. The journals of Los
Angeles, with a shamefacedness which
would have disgraeed piracy, re-
peated these stories over and over
again, and that too when the proprie-
tors of the journals making the assertions
knew that the statements were false, and
knew that the scheme to which they were
selling themselves was far less respectable
than picking the pockets of strangers
And now comes the San Francisco Ctron-
icLe to aid and abet scheme Of rapacity
and plumber, and declares that the railroad
shops now located at Sacramento are to be
removed to Los Angeles. There is not a
man, womsn or child in California so
supplemented as not to understand that
the Chronicle is paid for the publication of
this outrageous and contemplate lie, while
the weakness of the Los Angeles market
which this silly invention discloses will be
apparent to every thinking mind There
is within the distinctive municipal limits
of Los Angeles to-day 10000 building
lots-a land basis sufficient for the estab-
lishment of 100000 OF inhabitants. I'm
mediately adjacent TO that city there is
sufficient ground laid out into town lots to
constitute basis of a suburban population
equal to 100000 of inhabitants Los
Angeles real estate is being sold on
speculative and prospective population of
100000. OF course this condition of
things cannot last. OF course, plan of
dishonest jobbery so pronounced and glar-
Ail6 &c thio NOul0 iihhC 40
its afternoon and its decline into night
The story of the removal of the shops from
this city to Los Angeles is sort of dying
gasp of the real estate market in the latter
city 1t is conceived in fraud and perpet-
uated in falsehood, and has all the moral
quality of robbery. 1t is not worth while
to minoe words about these matters. The
real estate boom at Los Angeles has no
more relation to the healthy growth of the
State than has a cancer to the healthy con-
dition of the human body. All such booms
are the worst possible conspiracies against
the permanent growth of any common
wealth. They must invariably end in
disaster, and they will involve in
their ruin hundreds of simple minded
folks who do not understand how
easily certain of the press is cor
rupted, and who will take stock in Just
such apochryphal stories as the Chronicle
has concocted in the instance under con-
sideration. The reaction is inevitable, and,
unfortunately, when it comes it will react
against all portions of the State-in fact,
all portions of the Pacific coast The real
estate boom in the southern country has
acquired such proportions as to have at
tracted the attention measurably of the
civilized world. Its collapse will be equally
conspicuous, and the harm will necessarily
be incalculsble. The Chronicle bases its
statement upon the authority of certain
railroad officials. Now we challenge that
paper to naIae the officials who authorized
1t to state that the railroad shops were to
be removed from this city. Here is plain
issue of journalistic veracity. The Chron-
fcie can name its authority for the state
ment, and the unequivecai challenge for it
to do SO is hereby put forth. On the other
hand, if it had no other authorit- than the
real estate boomers of Los Angeles, in
whose employ it is now serving, lett either
name its authority, or confess its employ
ment.
Heretofore the REcoRD- UNION has gener-
ally passed by statements of an injurious J
character to the northern and middle por- /
tons of the State without challenging their
truth or 'rebuking their mendacity, and has .
constantly deprecated sectional strife We