The herald., 1898-09-27
A PROSPEROUS FUTURE
FORECAST OF THE CITY'S COMING
DEVELOPMENT
M. and M. Association Call Attention
to Los Angeles as a Profitable
Field for Investment

At a meeting Of the board of directors of
the Merchants and Manufacturers asso-
citation. held last evening, the following
statement was adopted and referred to the
proper committees:
Within the last few weeks Los Angeles
has received the most unmistakable evil
dence of the confidence of capitalists In its
future. Capital, always timid. has been
invested here In large sumo by eastern
and California financiers who, after care
full investigation of the condition Of Los
Angeles, have concluded that this city Of
fers the most promising field for invest
ments. New York bankers have purchased
the new issue of the city bonds at pre-
MUM Of 5A per cent of the face value of
the entire issue.
C.P. Huntington and his associates. who
have never been known to make mistake
in their Investments have purchased the
principal street car system In this city for
several million dollars and have promised
to give the most satisfactory service of any
city in the United States. Articles of in
corporation have been filed by the Spreck-
les syndicate for the purpose Of construct
ing a railroad competing Los Angeles with
Bakersfield, thereby giving Southern Cali
fornia the first competing line to San
Francisco.
Assurances have been received from rep
resentatives of New York bankers that the
lmuch-talked-of and long-delayed railroad
to connect Los Angeles with Salt Lake will
in the near future become a reality-thus
giving us another competing transconti-
pto1 And 1aQf hllf 1nacf
on the San Pedro harbor will soon be COM
menced when not less than 200 men will be
put to work on that important improve
ment to the commerce of Southern Cali
fornia.
No city in the Union can point to strong
er and more absolute indications of a
prosperous future Phenomenal as the
success and growth Of Los Angeles has
been in the past, the next five years will
see one of the most stupenduous improve
ments in the commercial and Industrial
developments of this city
The field OF operation to the merchant
and manufacturer will be materially en-
Ilarged, A new steamship line from South
ern California to China and Japan will open
market with the Orient more than 800
miles nearer than any other seaport on the
coast.
Much Of the newly acquired and to be re-
tanned territory will offer special induce
ments and trade relations to the Los An
geles mercantile community. We will
practically command, with the additional
and competitive facilities, the trade of the
San Joaquin valley, Arizona. New Mexico.
Nevada and Utah. South America and an
the way ports between here and that terri
tory will be brought in closer contact with
us; in fact the trade Of Los Angeles can be
and will be not only doubled, but quadru-
pled within the next five years.
Then what duties devolve upon Los An
relies to merit and Justify the heavy invest
ments made by outside capitalists and
what win insure her a prosperous and per-
manent future? The answer to this ques-
ton As plain We must concentrate all our
energies to the establishment, develop
ment and fostering Of manufacturing en-
terprises. Los Angeles will bet me manu-
featuring center Of no smaV magnitude
when her resources and advantages are
fully understood by the people Of the
United States. We have no longer to COM
bat the question Of fuel. The oil supply OF