The herald., 1895-01-01
Los ANGELES, Dec. 80.

While the year just closed will go down in
history one of the most disastrous periods OF
commercial depression ever experienced by the
country at large, the casual observer judging
only by the tone of business in Los Angeles,
would never suspect such thing az gre 1t
financial panic had happened. When the
shock came last June, that shook the financial
world to its very foundations, Los Angeles felt
the tremor, and for a brief period showed
symptoms of commercial paralysis, such as had
prostrated the business of almost every trade
center in the land But these unhealthy signs
were of short duration The panic that caused
runs on the banks soon subsided, and when 1t
was over, only one OF the many financial insti-
tutions of the city had gone under. That ons
was "a weak and rotten concern, that would
have suecumbed to the inevitable sooner or
later even during the most pro jperous times.
Los Angeles rallied from the pr mlry shock
as q rubber ball bounds back when thrown
sgainst wall. Then came the great railroad
strike, which caught California at the critical
time when deciduous fruit shipments were
under way. This caused loss OF several mil
lion dollars to the orchardists of the state. and
had very depressing effect on other lines of
industry. Los Ange os suffered from this sec
commonwealth; but like the bank panic, tho
effects of the strike on Los Angeles were soon
effsced.
Added to these two distinct causes of dull
trade, or rather prefacing them were several
other circumstances which tended to MAKE
1894 dull year i'll southern California. First
OF these was the small revenue derived from
the orange crop, much of the fruit being frost
bitten, and the rest encountering dull mar
MI
Gnd hay crops partial failure. The bot
tom dropped out of the market for WOOL and
many ioekmasters were driven to the verge
of bankruptcy. Last o. all, there was n mar
ket for the dried fruit crop. which was an ex-
ceptionally large one. SO altogether it was
bad year for Southern California, comp ara
lively speaking.
But, Notwithstanding all these various causes
OF depression. the growth of Los Angeles has
continued at marvellous rate, and nearly, if
not every, branch of trade reports an increase
in the volume OF business transacted over 1893,
which was c9ns,dersd an exceptionally pros
porous year. os Angeles merchants are now
engaged in taking stock and striking balances,
and in nearly every instance the balance is
found on the right side of the ledger. Very lit
tie grumbling is heard in any quarter. The
business men as whole are encouraged and
iook forward to the new year with increased
hope and confidence that 1895 will sac no
abitementin the property OF the city.
In truth the new year opens most uspici-
ously. Never have the signs of the times been
more propit The rains have been most
! timely up to date, and just hard enough to suit
the agri culturist The crop of citrus fruits
twas never of better quality nor greater in the
aggregate of carloads hat will be shipped if
4 r.rost and winds do not get in their deadly
lar4rk The late Florida freeze assures good
rket for the 5000 loads or any part thereof
~ 1T California Will hsve for export The indi-
~ = pns are that the dried fruit market will
80 emily recover from its stagnaton, and that
", irge quantities yet in the hands of the
uno GERS will be sold at handso ne cures. A
lelp market is assured for wines. Abundant
MT L.,Ed hay crops predicted. Real estate
lue W Eng up. Population is flowing in. New
Is are heading for Los Angeles deep
,or at San Pedro is assured fact. The
N.oaiagua canal is looming up The whole
country is showing signs OF returning business
confidence. Los Angeles in 1895, unless all
signs fail, will be on the top wave of CONNER
Cial pros tperity