The Pacific commercial advertiser. [volume] (Honolulu, Hawaiian Islands) 1885-1921, 1905-12-20
.SECRETAR WOOD TALKS
On BOOM ENGINEERING
The Promotion Mans Bright Address Before
Monthly Meeting of the Engineers
Society the Other Night.

had cost him about two thousand five
hundred dollars. Through a judicious
use of printers ink, practically the en-
tire nation was made to hear of San
Diego.
The new port was heralded as the
city of opportunity. Conditions We're
ripe; the boom was on. In 1887 at the
height of the wild excitement "addi-
tons were plotted so recklessly and
the faith of the public was SO great
that millions of dollars were invested
by strangers as we'll as citizens in
property they never set eyes on. One
famous addition was at the bottom of
a river; two extended well into the bay,
although the maps showed graded
streets, young trees, parks and ter
races, future hotels, sanitariums, opera
houses, soldiers homes, schoolhouses
and rows of palatial residences, banks
and mercantile establishments.
Buyers seldom visited the additions
to see what they were investing in, but
under the excitement of speculation
made large cash payments. Hundreds
of thousands of dollars were paid down
for lots on tide lands, tracts Of sand
stone, cactus and greasewood. They
sold residence sites for more than a
million of people. Everybody went land
crazy. Within a few months property
on the business streets which had been
sold at $500 for a lot 50x150 feet was
actually advanced all the way from
81 900 to $500 front foot. At one time
transactions in town lots were conduct
ed like the buying and selling of grain
or stocks on eXcange. Deeds were
passed from seller to buyer like ware
! house certificates.
A speculator would buy a number OF
lots in one of the additions" today
and sell them tomorrow, generally al
a large advance. Millions of dollars
were held by the real estate brokers
and auctioneers on margins.
The owners of lots in San Diego pur-
chased during the boom, live practi-
cally in every city of the United States
not excluding Honolulu.
Interest rates ran as high as one and
two per cent a day; ten and twelve per
cent a month on real estate loans was
considered reasonable.
Christmas day 1887 was one of joy
and gaiety in this city of paper mil
lionaires.
less, frightened lot of spectators, ev-
time. The dream of wealth untold had
been a pleasant one, but it was only a
dream, the day of awakening had come,
the bubble had burst. Yet Father Hor-
ton had accomplished his purpose, the
new town of San Diego was firmly es-
tablished
For a number of years the place
grew slowly, but conditions are again
prosperous with this beautiful city.
Father Horton still lives, and in his
ninety-third year can rest content with
the knowledge that many strong earn
est workers are following in his foot
steps, with unbounded faith in the city
of his creation.
Today the population Of San Diego
is about $4,000. The city is connected
with the outside world by one line of
railway, the Santa Fe, and while I am
not given to forecasting the future, /
nevertheless venture the prediction
that the year 1910 will see the 125 miles
between Los Angeles and San Diego
spanned by one of the best and most
up-to-date electric railway lines in the
United States with half hour service
which will be taxed to it's utmost capa-
city.
The city of today will more than
have doubled in population. Immense
irrigation systems now in course of
construction will have been completed
adding many millions to the wealth
of tributary territory.
The long talked of and earnestly
hoped direct line of railway eastward,
will be fast nearing completion The
magnificent bay now comparatively idle
will be we'll filled with shipping and
most sincerely hope that Father Hor-
ton who would then be in his ninety
eighth year may still be living to en-
joy the glorious accomplishment of
his plans
While the entire state of California
is doing splendid development and pro-
motion work, the southern counties are
probably accomplishing the most, in
proof of which let me briefly refer to
that mighty machine of development
and progress the Los Angeles Cham
Der of Commerce. Within the last Is
or Is years this organization has ex-
pended in the neighborhood of a mil
lion of dollars in advertising, not Los
Angeles alone, but all of southern Cali
fornia. a splendid permanent exhibit
of the agricultural, horticultural and
mineral wealth of the southern coun-
ties is maintained covering some 90
900 square feet Of space in its own
building, a structure that would do
credit to Chicago or New York. Be
tween 1900 and 1900 people visit the
exhibit daily.
The rooms Of the Chamber of Com
merce are also headquarters for every
line of work that may be called public
business, its membership is now up
wards of 1000 and not a pessirnist or
knocker in the lot.
According to the statements of rail |
way passenger agents, not less than |
100000 strangers visit southern Cali |
rornia every winter. who spend fully |
s25, o00000,00 They have to be fed and |
lodged and taken around, there are |
curios and various trifles to buy so the |
money is widely distributed: every |
body gets a little of it.
While San Francisco is the acknowl- |
edged Commercial Metropolis of the |!
Pacific Coast. Los Angeles has become !
the great western tourist clearing
house, the result of years Of persist
7nt judiciOus advertising