The herald. [microfilm reel] (Los Angeles [Calif.]) 1893-1900, 1895-06-16
Building in the Business Area
But No Boom
LEGITIMATE DEVELOPMENT
Eyes of Fasteners Turned This Way;
They are Coming
The Feeling Of Confidence Is denerAl-.Coast
Shows Improvement in Trnde--WaGes
Advanced at Different Points

The complaint still continues about the
streets being blocked with moving build
ings which have had to give way for the
erection or business blocks. The amount
Of building that is now going on on
Broadway, Spring and Main streets, in
the business portion alone, would indi.
cate to the visitor from the older and less
progressive portions of the country that
we are enjoying boom here in Los An
eeles, but not so, it is only the legitimate
growth to meet the actual development
in the section OF country and the other
towns tributary to this city. The stream
of immigration from the older eastern
states continues in regular unbroken
current the development of the mining,
farming, fruit growing and manufactur-
ing conGinues with constantly accelcrat-
ing speed new industrial enterprises are
starting every day, and yet the develop
ment of this section of the coast is only
i'm it's infancy. A look over the file of
letters daily received by the secretary
of the chamber of commerce will convince
anyone that the eyes of the entire country
east Of the Rockies are turned to Caiifor-
mia, and a very fattering percentage to
Los Angeles. Let them come, brains
muscle and capital can always make a
place for themselves and we have I'M
prospected fields for all.
AS indicative of the general feeling Of
confidence and return to prosperity we
submit the following excerpts from Brad
streets resume of the week:
The feature of the week, as heretofore,
is the continued long list Of advances in
prices. notably those for iron and steel,
clearings. Higher prices are recorded
for some cotton goods, shoes. hides.
leather paper pig iron. steel, galvanized
iron. black sheets, canned goods, hogs,
wheat, corn, oats, and some grades of
wheat flour. Prices for live cattle, wool,
coal, and lum Der are reported unchanged
and firm, while silver, cotton, petroleum
and lard alone are noteworthy as showing
lower prices than last week.
Bank clearngs telegIalhed IT, Brad
streets from 81 cities show total for the
United States for the past six business
days OF 81, 13l. 900, 900, the largest week s
total IN two years. The increase over last
week is 81 per cent and over the week
one year ago rs per cent
May bank clearngs are usually am ong
the largest of the year, but this year,
owing to the revival OF trade. total clear
ings are the largest for any month within
two years. since May, 1893. AT the west
general trade, except in few lines. is
quiet and unchanged. Rains have great
" helped the crop outlook in the central
Ohio and north Missouri and Missis
sippi river valleys, with consequent i'm
provement of the outlook at st. Paul,
Duluth, Minneapolis, St. Louis. Des
Moines and Omaha. Chicago soft steel
mills have orders to keep them busy for
three months. On the Pacific coast all
the larger cities except San Francisco re-
port fair and improving trade. The
salmon catch is reported good from Port
land, and the wool trade active. Seattle
announces better demand for staples
and a shipment OF 500. 900 worth of mer
chandise to the Yukon river. Tacoma
reports heavy shipments of wheat flour
and 1000 bales of Mobile cotton to the
Orient. while at San Francisco the Fair
wheat Just sold is being loaded for ex-
port as rapidly as possible to make room
Tor the new crop. 1t is a singular fact
that San FRANCISCO shipped a large guam
titiy of wheat flour to New Zealand this
week.
The Missouri Pacific Railroad company
has placed an order with the Baldwin
LOGON olive works for ten heavy eight
wheel passenger engines.
Wages advanced Pttsburg. Pa, steel
works. 5000 men. 10 per cent; Biddetord.
Me-, cotton mills, 10 per cent; Harris
burg, Pa, steel works, 10 per cent, 1000
employees; Southbrdge. Mass. wooden
mill. 10 per cent. 1000 men; Anderson.
Ind. nail works. 10 per cent, 1000 men !;
Phill!psburg, n. j., iron furnace, Phil
lpsburg, n. j.. foundry, 10 per cent
Reading, Pa. iron mil. 800 employees,
II per cent Johnston. Pa. iron works,
10 per cent; Bethlehem. Pa, zinc mills,
10 per per cent.