Los Angeles herald., 1906-05-09
REALTY IS AMPLE GUARANTY
Rebuilding Syndicate Forms Project
Attractive to All
By Associated Press

By Associated Press
NEW YORK, May Recommending
on the meeting held here In connection
with the movement to form a syndicate
which shall finance the rebuilding of
San Francisco Senator Newlands of
Nevada. one Of the prime movers of
the project, said:
I'VE met for the purpose of confer
ring as to the form of organization and
selecting legal advisers who are to
work out our plan. H. S. Black presi-
Improvement company; Frank A. VAN
derlip, Franklin X. Lane of the San
Francisco relief committee and Thomas
Magee of the finance committee of the
came general committee met in confer
ence.
II do not wish to state the exact COM
pleXion of the corporation which we
believe will be formed. 1t is enough at
the present time to assert that it will
be founded on the broadest and sound
est principles, will be an investment
which will prove attractive not only
to the banker and great capitalist, but
also to the people at large who seek
profitable investment for their saw
ings.
Involves No Guaranty
"The plan does not involve any guar
anty of the city of San Francisco or
the state of California, for we believe
the realty of San Francisco will be
ample guaranty and security for all
money invested in the country. The
plan, broadly, is to incorporate, en-
abling subscribers to create a fund
which will be used through the agents
of the corporation resident in San Fran
cisco in lending money upon realty
which is worth as much today as on
the day before the earthquake.
1T is well known that the records of
realty were preserved intact and that
titles are perfect. Ready money should
be available before the great bulk of
insurance policies are paid over. AS to
whether the corporation will be limited
to short term of years or will be made.
perpetual as a permanent
investment l cannot say.
Suitable laws will be passed and
the people are enthusiastically going
and not a dissenting voice will
be raised to any arrangement which
may be decided which shall be fair In
the line of guarding investments. San
Francisco does not come here as a sup
but is Offering a legitimate in
vestment which is good thing and will
take rank at the top of financial prop
ositions. The concerns with which I am
SOilACSlSu die III pOSlllOn TO uldIlce
their. own rehabilitation. This plan
looks to the general restoration.
Fire, Not Earthquake
81 desire also to say that San Fran
cisco is already moving" said Mr.. Lane
"The damage wrought by the earth
quake did not exceed $4,000, ,0OO Fire
crushed San francisco. We need not
fear any earthquakes in the future
We shall rebuild in sections as pre-
scribed by the commission which will
have absolute control of the city beau
tiful, so that earthquake-proof build
ings alone will be permitted in certain
zones and SO that the zones shall be
separated by wide boulevards and
spaces which in the event of future
conf1agration will confine the flames
within the zone in which they are.
II shall stay here for a week or more.
or until the plans for the corporation
are matured. Every encouragement
has been given to us that all the capital
we need will be forthcoming"