The herald., 1895-02-03
THE DAWNING OF A NEW ERA,
An Industrial Boom for Los
Angeles.
Manufacturing Plants, Established
and. Prospective.
Local and General Financial News-Wall
Street speculation-Money
and Stocks
Los ANGELES. Feb. 2.

q
Germs the future of Los Angeles, is the interest
manifested in the establishment of new in.
dustries Notwithstanding the un-ettled CON
dition of the national finances and the general
para ysis that has aft cted the business of the
country at large, for year past, Los Angeles
has made greater strides in the direction OF in.
dustrial dev .lopment than ever before in the
history of the CITY, Capital has Just begun to
xealizs that no o.her section of the country
affords better field for profitable Investments
than Southern California. and Los Angeles is
growing as a commercial and manufacturing
center accordingly.
The chamber CT CONNIE ce has never before
been SO besieged with requests for aid in found
ing new terprises. Unfortunately the cham
ber is not an organization that can offer inan-
cial assistance to parties desiring to embark in
manufacturing or other line of business that
would be OF benefit to the community Neither
can it Unfortunately lend It's moral support
to every scheme that is hitched for the alleged
advancement of the business interests of the
city-often for the private proht of a com
pany or individual at the expense of the rest Of
the com munity. The cham Der of commerce 81
at present constituted, is compo led largely Of
men OF moderate means. who are contributing
81 month toward the maintenance of whas
strictly speaking is Sin, ply bureau of infor-
nation and advertising that is calculated to
Induce immigration and promote tn m 4teriat
welfare OF the community. No one can ques-
tion the great amount OF good the chamber has
accom- plishei in this direction, II has also
done much in a general way to foster manufac-
ture' but it is a m stake to suppose that 1t has
funds to invest in industrial enterprises, or to-
expect its members to subscribe for stock a
every new company which it is proposed to
form. Whiis there are som me n bers inanci-
ally able to assist new industries and who
m.ght b., induced to pecomo stockholders in
laudsble enterprises that would promlse to pay
fair rate OF Interest on ths ca plt4l invested
the majority OF the mem mber,-nos only of the
chamber of commerce. but also OF the Mer
chants association, board OF trade, and busi-
nessmen Of the city gene ally-have their capi-
tai already invested and are not in po sition
10 take stock in new prof aets.
NUT STAND on THEIR MERIT.
1t Is readily seen, therefore, how futile it is
for the promo srs OF new scnem IS TO apply to
the chamber of commerce or Ktudred institu-
tions for financial aid. Every Or opposed enter
prise must succeed or fsil on it's merits. There
may be some indust OF ch importance
that it would pay the city to vote subsidy, or
might receive bonus by private subscrip-
tion, but generally speaking ii proposition of
this kind is impossible Parties trying to
found new industrie, mi yht as well make up
their minds that the capital must be furnished
by the projectors. There are ample opportuni-
ties for paying investm snts in the manufacture
ing line, If capitalists w.ll but lo)k them out
close stndy of the fed will disclose the
branches of industry that would be most profit
abe. factory for the prod 1ctio of aim ost
any article that onters largely into local con-
m nEio Whi ria1 10
conveniently at han1, would lay, if started
and conducted on sound business principles,
without aid from the mulicip pll1ty or L bonus
from trade organizations or individuals.
One element that stands IN III way of the
success OF some of u projected enterprises is
the way in which some Of the companies are
incorporated or propose to bs incorporated.
The main trouble is tnat th4 parties VINO get up
the scheme want SOMEBODY elsa to furnish all
the ac.all clpita Tne projectors want to set
aside too much of the stock in payment for i'm
aginary or real services, patents or property f!
which they propose to sadd on the co npany
at several times their true value. This sort OF
vinegar ooes not catch flies. Capital is too shy
these panicky times 10 b. trapped SO easily.
Any enterprise TO succeed must De started Oh u
solid business basis
SUCCESSFUL INDUSTRY.
An indus ry tnat has been put in successful
operation in this city in the past year iS sheet
iron rolling By the Los Ang geles Iron and Steel
conf pany. The wcrk, which was bsgun on a
sma SCALE is pidly expanding. Az fist the
material used consisted principally of old iron
and steel gathered up in the neignborhood
The supply OF 0 d IRON running short, the COM
pany neen obliged TO send east for supplies
An ordHf la, Just Dseu placed Ill Plttsburg Tor
600 sJee, uiilets This will make TWO Train
loads o. 80 each.
In co nIs,uting on this fact, General Man
sger Cham certain saiI that it shows the Dusi-
ness outlook in this vicinity is excellent, or
sueh qIAnlitt would not nave b=en or Tered
''When san Francisco got one Irainload the
other day." saiu he, st Was cited as great
event up there, but mere We go to work and get
Two, which is OF coutse dOubly remsrkADie.
The great bus ness activity here makes sucn
large orders necessary Toere is no greater sig
nlhcance commercially, in TINS event, thau
that 1t Will probably De not an uncommon oc-
currence in the future. We make 30 mueh
sheet-iTon, water piping, roofing, ETC.. that we
navt to nave the metal in large quautltlesi BE-
sides, blsines is always orisk nere.
The already large plant OF this company is
steadily being added to, almost as steady as the
great growth OF the city. The very --latest addl-
ton is annex for the m acninery of a No.
stamp for marking aud mold,ng metal win
die. 1t was received II few days ago IRON
William Wedge wood of San Francisco. and is
all ready for operation on "A hours notice,
though, as yet, it has not been all set up and
connected.
Asa starter in that branch of the industry,
the company has contract to furnish $4,000
powder cans, with mead STAN PED, all COM
re Ady for putting together at the works OF the
California Powder company, in the Powder
mill cahOA above Santa Cruz. The company
has also contracted to furnish the Giant POW.
der company ali It's cans for a year
Samples nave Giready been successfully
workei off with the new stamp, and soon II Will
be running in full blast
Another NEW INDUSTRY.
One OF the latest manufacturing, projects set
on foot in Los Angeles is designated the Los
Angeles Can Manufacturing company. 1t is to
D. incorporated with capitol of 500 900 in
2OOO shares of the par value OF 500 each. The
purposes for which it IS to be formed are to
manufact1re, produce or otherwise OBTAIN
sheet metal cans packages and rsceptacles, Tor
the packing. pre-, erving aud storing OF fruits,
vegetables meats, oils, and such other commo-
dites may be deemed necessary and found
to be PRACTICAL e: to sell, furnish ana deal IN
sheet metal cans. packages and receptacies for
the purposes above named, aud the contents
thereof; 10 erect. construct ana operat5 such
Dutldfngs, structures, machinery apparatus
and devtues may be de smed necessary for the
purposes OF tee company, etc
1t is proposed tn erect and equip factory
with capacity of 75, ,OOG cans per day, or
400 600 cans per week. Ii sucn factoty were
run 300 working days per year tue output
would be 2250O 900 cans, of the value Of
SoJ7, 800, based upon last Seasons prices. Inc
prospectus of the ed company says IL Is
safe to calculate upon business at the start OF
C.U0O 900 cans, required by packing establish
nents in Angeles and the immediate VI
clnlty. The introducti IN OF patent machine,
made cans b. locat ma luflcturing pant Will
stimulate consumption ana lead to the estao-
lshment OF many new canner les, III is betleVs 90.
The organizer OF the company claim to own
patents of great value. that nave Deen tne
means of making factories using them pay Dig
ulvidends on the stock OF companies Where