The herald., 1896-08-24
THE STREET RAILWAY SALE

The assured and all but completed
purchase of street railways constituting
at least three-fourths of the facilities
of the kind now possessed by Los An
| geles, by a foreign syndicate with an
outlay of capital in excess of s4,o00,O0
affords the best testimony to the solidity
of this city and the confidence existing
abroad in its future we have had in a
long time. Such an investment would
be particularly noticeable in, and be
received with the warmest kind of self
congratulation by, any of the largest
cities of the union. The magnitude of
the amount establishes the high degree
of the faith of the investors, and the
fact that the latter are entire strangers
to this city and are not swayed by any
feeling Of local pride or influenced by
a desire to bolster up investments al
ready made here, but that as a cold,
Independent business proposition they
selected out of the numberless enter
prises competing for the favor of cap
ital, many of which are offered by cities
of greater influence and supposedly
wider fame than Los Angeles, one in
lHtS City, CdHiiOe ioiA ~ SASi0 GU
satisfaction to all interested in the pro-
gress of our community. The incident
clearly shows that Los Angeles has
been listed In the mind Of the capital
ist;c world with the cities that are to
win.
This South African syndicate deal in
our street railways is subject for fell
citation on more than one account. Not
only is it evidence of the confidence for
eign capitalists of admitted shrewd-
ness have in our future, but it also holds
in itself the promise of more seed of the
same kind In no realm is example
more fetching than in that of capital.
The people commonly known as capital
ists-that is the possessors of consider
able amounts of wealth-have, as & rule,
high regard for each others Judgment.
and where one has gone with his means
another is prone to look with favor.
Therefore the faith of capitalists gener-
ally, both at home and abroad, will be
stronger in the metropolis of Southern
California and propositions for the en-
listment of capital in the promotion of
Los Angeles enterprises will. in conse-
quence, meet with more cordial and
careful consideration than heretofore.
1t is also to be presumed that persons
making up such a syndicate as the one
now about to enter upon the local trans
portation business are acquainted and
associated with, either socially or finan-
cially, other individuals possessed of
capital open to engagement. and it is not
at all unreasonable to suppose that
some of these others will feel induced to
investigate the possibilities offered by
Los Angeles and vicinity That there is
ample opportunity for enterprising capt.
tai in this locality everybody familiar
with the situation knows.
Another good result very likely to
flow from the passing of the lines en-
braced In the transaction into the hands
of this syndicate will be the betterment
and extension of the facilities as fast as
needed. The new owners will be finan-
cialy capable of responding to the de-
mands imposed by the city's growth
with readiness and in a way which
cannot be expected Of those now con-
trolling the properties.
1t is to be hoped, and on the part of
the people best acquainted with the ele-
ments which assure the prosperity of
this part of the state and the greatness
of its chief city. there will be no doubt
on that score, that the men who have
bargained their South African gold
for the stocks and bonds of Los Angeles
street railways will have no cause to be
other than satisfied with their venture.