The San Francisco call., 1896-01-22
BAL OWNS BIG MORTGAGE
A Concentration of Interests Was
the Only Object in Borrow
ing so Large a Sum.
California Should Be Advertised by
Large Property Holders I'm
proving Their Lands.

The heavy MORTGAGE effected by E. J.
Baldwin with the Hibernia Savings and
Loan Society, which appeared exclusively
in yesterdays CALL, was not renewal of
a mortgage nor was it an original one, but
rather q concentration OF mortgages here
tofore held by individuals at various rates
OF interest, covering various portions of
Baldwin S property. To bring his indebted
ness and liabilities into something of a
concentrated form he gave what may be
termed a blanket" mortgage to the
Hibernia Bank, which will enable him to
pay off ali the other membranes and
henceforth deal directly with one insti-
tuition.
Heretofore mortgages on portions of
Baldwin's property have been in various
hands. For instance on the annex, which
ad djoins the hotel proper on the east side
there were two mortgages: one held by
Boyd & Davis for $3.50, 900 and another by
Maurice Dore for $4,000. This property
has only lately been purchased by MIR.
Baldwin and added to the hotel proper. In
another case his Santa Anita ranch con-
sisting Of 200 acres had a mortgage of
500, 900 hanging over it. This was held by
another private individual and so on with
almost all Of his real estate. 1t was to dis
pose of those mortgages that he covered
edness at one fixed rate of interest.
This was the explanation given by
Lucky" when spoken to yesterday by a
CALL reporter And in addition to this
Mr.. Baldwin became quite enthusiastic
over his enterprise in this City and State,
He said: Il have made my money in
California and / have spent it In Califor-
MIA. have not sought Europe for either
climate or society, nor for blue-blooded
associates.
"The companionship of the honest, hard
working men is good enough for me. /
am one of them, and whatever money
have made or property ACQUIRED came
from the soil of this State, consequently it
belongs here.
'l am improving my property both in
this City and elsewhere. am now build
ing a front 165 feet in length to my Lake
Tahoe house, and will have electric lights
all over the grounds about the buildings.
Again, am spending quite sum OF
money in the basement of the hotel.
This basement, besides the entire hotel,
will be lighted by electricity, which 1 will
supply myself, and in all am giving en-
ployment to hundreds Of workmen.
The Santa Anita ranch Will also come
in for its share of improvements this
spring. So long as l have money l will
keep spending it on improvements. 1t is
true, | am getting old and could afford to
take things easy, but this is not my nature.
l must make myself useful while / am
here. 1 did not need to take such a big
mortgage as l have just taken OH my
property, but 1 like to have plenty OF
money to improve with. What other rich
men do with their wealth is none of my
business. Twill keep mine circulating be-
tween the people and the bank and vice
versa. This is the way, at least 1 think So
of advertising the State. Improve it and
then the Eastern people will find out for
themselves whether it is good place in
which to live or not"