Los Angeles herald., 1906-10-31
CAPITAL SEEKING
INVESTMENT HERE
SAN FRANCISCO FlNANCIERS
INTERESTED
That Los Angeles Has $eo,oo00oo In
lts Banks Is Announced at
Bankers Convention at
st. Louis

The fact that there are over $9O,000,000
IN available cash in various Los Ange-
les banks has been published in the
columns of The Herald, and the an
nouncement was made to the world at
large at the recent convention of the
American Bankers association held at
st. Louis.
At no time in recent years has there
been shortage of cash in the local
banks for the promotion of any legtti-
mate proposition, and just now there is
an abundance Of cash available for the
use of the merchants and business men
who can furnish acceptable security.
The rates range from 6 to 8 per cent,
according to the character and time of
the accommodations. And, generally
speaking, local bankers are anxious to
make loans that are conservative and
absolutely safe. That is part of their
business.
1t Is predicted by a Los Angeles citi-
zen who has made a study of the situa-
tion at San Francisco since the disaster
of last April, that large sums of cash
from the northern city will soon be
sent here to be invested in real estate
and in commercial enterprises.
Northern Capital Coming
II am convinced" said the Angeleno,
that the great sums in the banks at
San Francisco will not be permitted to
lie idle. The large property owners in
that city do not know yet on what
streets of the city the large business
is to be rebuilt. They do not seem to
be able to agree, and then many of the
owners of frontage appear to be unwill-
ing to erect costly structures. They are
anxious to lease their lots for five to
ten years. Many are looking toward
Los Angeles, as they regard this field
the most inviting in the country for the
profitable investment of surplus funds
/ look for great revival in all lines
of business here, a revival that will
come nearer approaching the boom
period of 1886 than any other time in
the history of the city
everybody knows that Los Angeles
is growing now at greater pace than
ever before in her history, that the
city is expanding marvelously in build
ing, and that while many homes are
being finished every day in the week
still there is a pressing demand from
newcomers for places of shelter, cot
tages and bungalows. And then look at
the great number of towering business
blocks that have recently been finished
and the scores Of new blocks that are
in course of construction.
nave ConIuenCc III TutuTS
Is it any wonder that tn eattention
of northern and eastern capitalists is
attracted to Los Angeles and Southern
California? All this means something.
1t means that local and outside capi-
talists have unlimited confidence in the
great future of Los Angeles, and that
while they seem to be building for the
future they are really striving with
some degree of success to supply the
present pressing demand for modern
places of business. Every new struc-
ttre finished finds a firm or company
ready and eager to take possession, and
because of lack of frontage on certain
streets new business thoroughfares are
being created without doing any injury
to the merchants on any Of the other
streets.
Extra sums Of money are required to
provide for the holiday period, and all
merchants have been accommodated to
the extent that they are enabled to dis
count their bills Tax paying time may
cause a few individuals to feel shy for
a few days. but the sums required for
paying for the privileges of citizenship
are comparatively small. Pro. erty own
crs will come up smiling and will soon
forget that they called at the office OF
the collector