The herald., 1897-04-19

than ne-fifth each year thereafter until
full sum Is paid.
Subscribers should have the privilege
OF designating (when making their SUBJ
scriptions) whether their portion of the
investment shall inure to the benefit
of church extension, Superannuated
Preachers fund, Deaconess' home,
Methodist orphanage, Methodist hos
pltal, University of Southern Califor-
mia or Carlisle Christian home. Should
1t be found possible to find in all this
city Methodism, say twenty subscribers
who would give $500 per year on the
terms named, 1t would produce more
than half the funds necessary and make
the accomplishment of such a plan
easy.
Borrow as quickly as 1t can be done
by the new incorporated concern on its
property at per cent interest sufficient
money to build good business block on
one of the properties and pay First
Church half the amount due her in cash
for her properties and pay her for the
other half from the subscriptions that
have BEEN taken. Pay half Of Simp-
sons debt in cash. the remainder to be
paid from the subscriptions referred to-.
This would result in putting First
Church in position to at once COM
mence erecting her new home, that she
so greatly needs and placing her in the
position to do the most effective work
possible for Methodism on the corner
she has selected for her future home, or
elsewhere, should she elect to build else
where.
1t would at once free that noble band
of Christian workers, who have made
such a gallant fight for Simpson and
Methodism, from debt and, put them
in the best position possible to do good
work for the Master. Their location is
ideal, being on a street never likely to be
obstructed by street railroads, and yet
but half block from all the street rail-
road systems of the city. and it would
need on their part but the purchase of a
lot to give them a Grand avenue front
and entrance with ample grounds for
Sunday school room and make il the
ideal church location and arrangement
of the city.
It would put new life into every Meth
odist institution in the city, and in few
years would be the means of freeing
every Methodist church in the city from
debt. cause the construction of new
churches, where most needed and de-
velop institutional churches in the
densely populated parts of the city,
where, without such means, the people
will be deprived of churches and be-
come largely an unchurched people. To
accomplish these things at least one
Hdll the SuDsCTlptlOHS SHOulV name
preference for church extension. The
newly incorporated concern should
promptly retire its debt from the re-
naming subscriptions and from its
rents, and after that was accomplished
its entire income would go to the good
works of the church forever
What of the future Of such an invest
ment? Los Angeles is in her infancy.
Her property will grow in value and
It.A tfxTA ...ss L. -
lation, and reach the high value OF
larger cities which she will soon equal.
We already have some object lessons on
Broadway OF productive power of good
business property. The Pirtle building,
corner of Fourth street and Broadway,
has three stories and no basement.
The rentals are now $4,000 per annum,
with no leases made longer than three
years. Next year the rents on six rooms
on first floor are to be advanced $25 pec
month each, bringing the rentals up to
s10,So0 per annum. The cost of building
was 100000.
The Pirtle building corner-of Third
and Broadway, S9x120, three stories, no
basement. building cost $4,000. The
monthly rental Is $3.50, equal to $18, 600
per annum. The Nolan & Smith build
ing, corner Second and Broadway. 60xS5.
three stories and basement, monthly
and the rents will be more after June
1st next. Cost of building $4,000. The
three buildings referred to combined,
the rentals will equal cost of structures
on them in a little more than two years
and two months. They were all built on
borrowed money that the borrowers
paid 10 per cent interest for per annum.
They have large ground rents to pay.
and yet they will make the enferprising
htff1darc al orb bev
lose the buildings at the end of their
leases.
The general rentals on Spring street
are now fully double those on Broadway
and advancing. The National Bank of
California has lease little over seven
years old, corner of Spring and Second
streets, pays $3.50 per month for room
36x65. and this lease, when made, was
considered high. When the time of re-
newal comes the rent will be materially
advanced. The Santa Fe railroad
across the street, for a much smaller
room, pays $700 per month, and the
butcher shop on corner of Third and
Spring, in the Lankershim building,
60x90 pays 500 per month, which is to
be advanced to 5000 per month after
two years and $1,000 per month after
five years. Mullen, Bluett G Co., cor
ner First and Spring, pay $1,000 per
month for their rooms, leased for five
years. The inside rooms in the Byrne
building on Broadway, now rent for s175
per month.
There is little doubt that the rentals OF
a building not more expensive than the
Pirtle or Nolan & Smith buildings re-
ferred to, would produce from the start
a monthly income of at least $1,000, and
when Broadway rents equal Spring
street the income will be double, and this
for only one of the properties now own
ed by First Church. The progress of
business on Broadway indicates that
in a very few years II is proba BILE that
the rents will be as high as those on
Spring street and continue to advance
the city reaches the popula ton of San
Francisco. rents will be as high here as
they now are there.
1t should be a sufficient hint to con-
gregations, official boards and preachers
that something is radically wrong when
unusual numbers of excellent members
are continually leaving the church and
joining other denominations, or when
the church Is becoming so contracted
and unexpansive that it contemplates
the favoring of the wiping out of one of
the largest memberships of the denomi-
nation in the city, church member
ship that has been tried so severely and
stood the test of that trial so splendidly,
or when the grandest, Oldest and largest
church in the conference continually
runs behind in its finances and in debt
for current expenses.
When such conditions are present. 1t Is
time for all lovers of the greatest and
grandest denomination in this land to
cease building churches to largely pre-
sent to other denominations and To