Los Angeles daily herald., 1888-06-18

an encyclopedia, SO to speak, Of informa.
ton they sought to obtain OF Los An
geles and Southern California.
| "How is business ?'
"What's the outlook ?"
| Cant we get more business from
down there2"
care not Eastern houses stealing you
people away from us?'
Questions of this kind l was flooded
with. While it may not be generally
| believed it is nevertheless a fact that
Los Angeles is the most discussed town,
and this part of the State the most talked
of, in San Francisco, and in every part OF
Northern and Central California visited
| by me during my vacation.
"Croakers, skeptics; people resident
here who are half iukewarm in the mat
ter of the city's future, say that times are
hard that money is tight; that values OF
property have deprecated; and, last, but
not least, they bewail the fact that our
local money institutions have tied up the
purse-strings and refuse to lend money
on good security. These people have
and are doing more. to scare away pros
pective newcomers than any one thing
else. AS to their lament it is unprovoked.
found out that over million OF San
Francisco money is afoat here on Los
Angeles city and county property. Cap
italists there, flooded with collateral,
are always ready to lend on our city
property and even send agents down
here to hunt up loans. Lenders there
have the greatest confidence in the future
of this section and especially Of this city.
They are classed among the closest lend
ers in the State, too"
"Several business men l talked with
seemed certain as to the future greatness
of Los Angeles. The feeling regarding
this city has changed up that way. They
are no longer jealous, and seem to have
arrived at recognition of the fact that
Los Angeles and the boom are things that
have come to stay. They want more in
tercourse with us and are openly fearful
lest we make trade outlet for some
other city than theirs"
81 spoke of my impressions while CO.
ing up Market street. Well, when | left
San Francisco, proceeded to Monterey,
thence to Paso Robles Hot Springs.
There found great gang OF railway
graders and track men at work ON the
construction of the Southern Pacific's
new line from Castroville to
Paso Robles, San Luis Obispo.
You could ask any body, from day lab
orer to an engineer, what the ultimate
intention of the company was, and they
would answers shorter route along the
coast to Los Angeles. Everything ran
across in what might be termed Central
California seemed to have a tendency
toward Los Angeles. The Santa Fe has
already route surveyed through
Tejon Pass, and we will soon have
choice of the routes between here and the
North. From what have learned since
my return the steady wave of prosperity
still flows. We business men are salts
fed at the existant state of trade. We
look for the greatest hegira to California
sitter the Presidential election that the
State has ever known, and our anticipa-
tions are supported by the views OF trans
continental railway officials"
Southern California has not been half
developed yet. This city is still in swad
ding clothes. We have great mineral
resources to develop; our oil industry is
yet in a primitive state; agricultural
pursuits may be followed to ten times the
extent and value that they are to-day
the manufacturing resources OF the South
as whole and of Los Angeles may be
said yet to be almost totally undeveloped.
Talk about the bottom falling out of
things. Why we are thousand miles
from the top OF the lowest boom peak,
yet"