Los Angeles daily herald., 1888-04-10
The outlook.

Our local columns this morning
contain report of the proceedings
had last night at the annual meeting
of our Board of Trade. The import
ant part of the matter is contained in
the report of the outgoing President.
This is paper which will well repay
careful perusal. The institution
comes in the closest contact with all
the material interests Of Los Angeles
in particular, and of the entire country
generally. Its president is naturally
intimately acquainted with all that
goes on in the Board, and therefore is
we'll qualified to speak Of our indus
tries and prospects with authority.
Much weight attaches to the utter
ances of such an official, and in the
present instance the outgivings OF
the report are in the main
duly considered, conservative and de-
liberate.
It is very gratifying to note how
cheerful, hopeful and confident are
the views given by Mr.. German. The
record of the past year is very encour-
aging; the statement that the attor-
news of the Board have had very little
routine work to do, proves on how
solid a basis the business OF
this community rests, and how
carefully the great majority OF
our financial transactions have
been considered by those entering
into them. This fact, coupled with
the other to which the report refers,
to the effect that our dealings in real
property last year was greater in abb
solute bulk than any county in the
Union ever put on record, is a sur
prising combination. Wild specula-
fion has not characterized to any
great extent even this class OF busi-
ness. The fact is, far-seeing men
have come in here with a
great deal of money. They
see how dense population
our matchless climate will draw here,
how rich our soil is, how large the
profits of cultivatipg the same must
prove, the admirable situation Of this
city as center of business; and act
log ON these views such people have
been in some hurry to possess them
selves of as much of cur lands as their
means could reach. But these people
have made no mistakes; they have
not "a q rule covered more area than
they can hold until purchasers are
dound for every acre and every lot
in this section. The views expressed
by the President of the Board of
Trade, are reached by every intelli-
gent man in the city, whose direct
connection with realty enables him
s to speak as the facts are. There is a
most unanimous expression Of opin-
ion, that while there is no feverish
excitement in real estate circles, yet
there is feeling of great confidence
ON the part Of holders-a feeling which
can rest on only one ground, that they
are able to hold it. At the same time
there is an interested and lively
inquiry for good property on the
part of a large number
Of recent arrivals in this section, who
have come to settle and wish to buy
their homes. In many cases these
people are slow to invest, and their
hesitation arises not from any mis-
givings about the value Of our pro-
perty, sbut because they are filed
With an idea that some holders are
overloaded and must let 60. As week
follows week and no sagging in the
market developes, these prudent peo-
pls are reconstructing their views,
and begin to see that nothing has
been gained, while something has
been lost, by their delay.
And this leads to still another wise
line Of comment found in the report
4 n. Germsin. He calls attention
to Tie wide extent Of our agricultural
49, = = .