The San Francisco call., 1896-08-24
YEARS.

1t should be stated that the actual cost
IN many instances far exceeds the esti-
mate given in the application for per-
NIT. This is especially true in regard to
most of the large business blocks, some of
which cost twice the amount originally
intended. In view OF this fact it would be
10 exaggeration, perhaps, to say that $12,-
0OO,000 was invested in new buildings in
Los Angeles during the four years named,
and So 600, 600 more can lately be added for
the improvements that will be made dur
ing the present year.
ALL NEW GROWTH.
1t must he admitted that $4,000, coo in
vested in new buildings in five years is not
bad showing for a city that has suffered
no conhagration or other disaster that
would cause rebuilding. The buildings
erected have not been put up to replace
others which were accidentally DESTROYED,
though not a few have the place of old
ones which were found inadequate for the
demands Of modern living and business.
The increase in habitations and business
houses may all be properly termed new
growth.
In this connection it is interesting 10
note that the Chief of the Fire Depart
ment estimates the fire loss in Los An
geles at only $50, 600 during the year 1895.
This includes furniture, goods, etc. The
actual loss on buildings was, perhaps,
only half the total amount, or $25, 900.
There have been no expensive fires in Los
Angeles IN recent years, which fact is
probably accounted for by the very
efficient Fire Department which the city
maintains. 1t cannot, therefore, be
charged that the building energy in Los
Angeles is founded on anything other
than actual prosperity. The millions that
have gone into new buildings here have
not been furnished by insurance compa-
I1iaa uuoa ho
eral other Western towns which have had
phenomenal building booms in conse-
quence of destructive confagrations.
Another thing that is remarkable about
the buildings of Los Angeles is that they
are nearly all occupied as soon as com
pleted, and despite the many new edifices
constantly springing up desirable proper
ties continue to command high rents.
Few good buildings have been erected in
the last few years that have not proved
paying investments from the start, and
quite number of blocks erected some
years ago which were then considered re-
mote from the business center are now
yielding an income Tor the first time. But
while this is true it is but fair to state that
owing to the shifting of the business GEN.
ter there are some buildings which were
paying big interest on the money invested
in them half dozen years ago that are
now comparatively deserted or given
over to cheaper class of tenants
TREND OF BUSINESS.
The trend of business is southwest from
the plaza, which, up to the time of the
real estate boom of 1862, was the vir-
tual business center. Now it has moved
as far south as Spring and Second streets,
and, as newer and better buildings are
springing up below that point, the larger
firms which formerly did business in the
vicinity OF the plaza are forsaking their
old quarters ana occupying the more
modern structures on Broadway, Spring
and Main streets, south OF Second.
While Los Angeles is essentially city
OF homes, the number and character of
its business blocks is beginning to attract
attention. The first thing that strikes the
casual visitor is the size and elegance of
some of the recently erected palaces OF
trade. The tenderfoot who comes here ex-
pecting to see naught but the one-story
adobe buildings or frame shacks common
TO large portion of the wild and woolly
West is most agreeab bly, disappointed. The
stately brick. stone and steel structures,
whose towering facades run up four, five
and six stories along some of the principal
streets, impress the newcomer most favor
ably and convince him that Los Angeles
is indeed a growing commercial center.
Before making specific mention of any of
these new blocks. the report of the Super