The herald., 1893-11-05
TURNvEREIN HALL.

depression and failures, Los Angeles lie
in very healthy condition financially.
Owners are in many instances very
anxious to cell their property, but are
not disposed to accept any price that
may be offered. and when genuine sac
ritice has to be made there is always
some one ready to take care OF it. In a
recent forced sale of large dry goods
stock at retail it is stated that the cash
receipts thus far have exceeded sos 900,
which, If true, would indicate that there
is plenty Of "loose change forthcoming
just as coon as a sufficient inducsment ie
offered. Naturally, the other dry goods
merchants have suffered to eome extent
while this rush has lasted, and COM
plants have been heard that their Gus
TONERS have been unusually slow this
month.
As soon as the savings banks get into
the position where they can make loans
again as in the ordinary course of bust
ness, the only remaining hindrsnce of
any great proportions to the restoration
of confidence will be removed. This re-
sult cannot be expected before the open
ing OF the coming year, and in the
meantime a great deal OF money that
might he doing good il kept in cifcua-
tion is locked up. There is no necessity
whatever for taking o pessimistc view
Of the situation on this account, and
the tendency to do 30 in certain journal
istic quarters has been much deprecated
among business men. The money ia
here and will be forthcoming when
called for. But ii ths people who draw
it out expect to realize high rate OF in
tsrest in its nee they are likely to find
themselves badly mistaken. This, of
course, is a matter of supply and de-
mand, but it is to be hoped that the
days OF high interest in Los Angeles
have gone forever by. Time WAS, and
net so great number Of years ago, that
business men paid "a per cent per an
nun for loans, and no wonder there
were failures.
One of the most satisfactory indica-
tioD OF Los Angeles prosperity is the
way in which building operations have
been continued throughout the season,
and there appears to be no let up to thie
activity. One very annoying feature in
the building interest, namely, the
plumbing ordinance, is doomed by the
council, and new measure will be
adopted in its place. The attempt to
regulate by proper rules and supervision
branch OF work 80 important to the
health OF the community is greatly TO
be commended. The plumbing done in
most OF the buildings erected during the
boom was scandalously defective, and
the necessity for supervision has been
long apparent. While none but compe.
tent men should be allowed to work at
this trade,'it should not, on the other
hand, be 30 hampered by restrictions as
to throw the property owner into the
clutches OF ring or monopoly. Some
OF the provisions of the Objectionable
ordinance are needlessly severe, entail
ing in many cases enormous and useless
outlay to the loss OF the owner and the
benefit of the plumber. In the light OF
experience there should be no difficulty
in framing new ordinance to meet the
views OF ali parties and to assist in the
preservation OF the public health.
#~x
Among the semi.pubic buildings
now in course OF erection on Main
street are the Turner's hall and the
Burbank thester. The former is now
well under way and visit to the latter
edifice last week revealed an urex-
pected forwardness in the arrange
ments. The finishing OF the interior is
now in the hands of the carpenters,
while the stage is full of scenery just
nowly painted, and everything looks as
II the Pavements of Paris or Shadows OF
= Great City, or whatever may be the