The record-union., 1893-03-08
FRUITFUL FRESNO.
Encouraging Condition of Things in
the Raisin District.
The Depressing Effects of a Bursted
Boom Are Passing Away-A
Rich Section.

The following extracts are from a
letter by Fresno resident, who is thor
oughly well informed and of business
sagacity and foresight. 1t was not writ
ten for publication, but in response to
private inquiry
have taken pains to consult quite a
number of men of good Judgment
bankers, merchants vineyardiSts and
others-and, with scarcely an exception,
all agree that present conditions in
Fresno are not discouragingly dull for
the season OF the year, while prospects
Tor the future were never better. Fresno
City is not on the decline, nor is there a
lack OF prosperity in the surrounding
country. There is steady growth OF the
city, as may be witnessed by the large
number Of new and good residences now
in course of erection. One large busi-
ness block is nearing completion, and is
already almost fully occupied. The one
broad street, Fresno street, is being
graded and the first three blocks paved
with bituminous rock. Extensive i'm
provements, costing more than 100000,
are now being finished on the county
buildings, and $4,000 high school build
ing is in contemplation.
find that on January l, 1898, the banks
had of deposits SlS0,0J0 more than on
January l, 1892, while at the same time
more than SS0,00O was still owing to the
producers of fruits. etc, living in the
immediate vicinity. The deposits i'll the
Peoples Saving Bank have steadily in
creased during the fall and winter months,
and now indicate good degree of pros
perity among people OF small savings.
The number OF mortgages paid off dur
ing the last four months has been unusu-
ally large, and interest on mortgages on
the small farms and vineyards has been
paid more promptly this season than
heretofore.
Property values in Fresno and vicinity
have greatly deprecated during the past
three years, as they should have depre-
clated. We were cursed with a boom a
few years ago that caused an unreason-
able and inflated value to be placed upon
all kinds OF property. Scarcely an indi-
vidual, resident or visiting, escaped the
fever of speculation, and the larger num-
Der have suffered in consequence. We
have not yet recovered from the effects OF
| speculation; the number of bankrupts
will be largely increased during the COM
ing year, but the community at largo will
not suffer from their failures. We are
getting down to bedrock and will build
on good foundations hereafter
This is one OF the richest countries |
have ever seen, and l have seen large
part of the cultivated earth, and there is
no visible reason why it should not con-
tinue prosperous. There is no question
about this being the best raisin country
yet discovered, and 1t Is idle talk about
the industry declining, provided our
tariff laws are not disturbed | have
personally talked with the managers OF
most of our large wine vineyards lately,
and, withoutan exception, they tell me the
vineyards are paying. The recent super
intandent of the Barton Estate Vineyard
! tells me that a sale of the accumulated
brandy and wine in their cellars would
enable the company to pay a fair divi-
dend on their large investment for the
time OF their ownership. MIR. Matter in
forms me that he is making money from
his viney ard. l have started a series of
Investigations through the press, which
Will be published i'll such shape as to be
relied upon.
That there are obstacles to prosperity
in this locality no one can deny but most
of them can be overcome. We are suffer-
ing most from vicious politics. Home
! politics are bad enough. but when cor
rupted by outside interests it becomes al
most unbearable. 1t is to be hoped that
time and less partisanship will right mat
ters. Rates of interest to borrowers of
small sums are too high. This will be
remedled when the status of our fruit in
oustries becomes established.
= =
have faith in the value and growth of
Fresno as city, in the permanency of
our industries and in the ultimate rich
| ness and prosperity of this entire section.
L trust that the commercial and financial
interests of San Francisco, which must of
necessity be ultimately associated with
our interests, may share this faith.