Every evening, Wilmington daily commercial., 1906-05-10
in relieving the situation called

interested in relieving the situation called
for the same purpose.
Now the work facing San Francisco Is
getting business started again. The whole
sale and retail merchants are not standing
around theorizing about re-establishing
their basis OF credit. They are putting up
temporary structures, corrugated iron
buildings. in which to get business going
"Ihe important need is to give the
people out there something to do Trade
must be re-establshed in order to give
employment to the clerks, mechanics and
laborers.
81 think the insurance companies will
be liberal, but in Justice to themselves they
must first find out where they stand. The
question of salvage, for instance. is an inn
portant one There is enough scrap iron
lying around TO build a new San Fran
cisco.
When asked for his opinion of the
Burnham plan for improving and beauti-
tying the city Mr.. Hartman said:
In the main the plan is a good one, but
it is looking so years hence Usually
those great theoretical plans are too eX-
pensive.
"What San Francisco wants to do. and
probably viii do. is TO widen the streets
and avenues. 1t will be easier now TO
carry such a plan into effect, as the city
will not have TO condemn improved prop
erty. San Francisco is not as big as It
was. You destroy the habitations of
three-iourths Of the people and a city
can't tell what it's going to do. They're
housed in tents at present and working
out their own salvation.
"Ihe rushing Of money out there was
needless. The residents couldn't do any
thing with it, | understand that some of
it is already coming back. The people Of
San Francisco ought to know that the
more money they concentrate in money
centres, the less they keep out there, the
better Il will be for themselves. They
have no immediate use for money. 10
had better be here than lying idle out
there in the mint, for it wasn't even put
in bank
Plans for the rebuilding of the city.
which are being arranged by committee
of San Francisco and New York bankers.
have crystallized into concrete scheme.
It is proposed to form a bond and mort
gage corporation having a federal or
State charter with broad powers. This
corporation will issue bonds and from the
proceeds of the sale OF the bonds the husi-
ness mon of San Francisco will be able to
raise the funds to reconstruct their city.
In detail. the scheme was outlined yes
terday by II. $. Black chairman Of the
United States Realty Improvement Co.,
who with Frank A. Nundclip of this
city; Senator Newlands, Thomas Magee
and Franklin Lane OF San Francisco.
have been considering the best financial
plan 10 raise building funds
Now that It has been found impossible
to obtains government assistance, it has
been decided that the most practical
plan is to form q bond and mortgage cor
poraton similar to those which have
been successful in this and other cities.
The corporation which is to have q cari-
tai OF Sl0000000. fully paid in cash.
will guarantee the principal and interest
of the bonds issued Every series of
bonds ON individual building enterprises
will represent 80 per cent ofthe value of
property and the buyer Of the bonds
will have ample security first in the
$4,000 600 corporation and second in
the value Of the realty and improve
ments Bonds are to be issued only on
constructions of modern steel in the
business district.
Mr.. Black said his scheme had been ap-
proved generally by banking, trust COM
pany and private institutions.