Omaha daily bee., 1906-10-07
UPLIFT OF STRICKEN CITY
Stsldy Progress of San Francisco from
Effects Of the Disaster
ENCOURAGING RECChD FOR SEPTEMBER


Interesting History of Financial
Operations During the Dark Days
Definite Plans for Homes for
Refugees.
The California promotion committee.
which maintains close watch on the prog
ress of San Francisco toward recovery
from the effects Of the April disaster,
pronounces September the most notable
month in the uplift record Of the stricken
city. In support of the claim the COM
mittee furnishes these facts:
Labor supply is still inadequate to meet
demand, both in city and country districts.
There is great need of ordinary laborers
in San Francisco, and the demand for
skilled artisans In building trades is con-
| stantly increasing.
San Francisco's population is about at a
standstill, owing to lack of housing facili-
ties. Estimates based on computations of
military authorities place it at $4,000.
Every school building in the city Is
crowded to its limits. the enrolment be-
| ing $500 1t is estimated that with proper
| facilities there would be at least 1900
more ready TO enter.
Careful investigation shows that cost of
living in San Francisco has not increased
except in rents. Provisions of all kinds
and clothing are at same prices as before
the fire. Rents have increased on dwell
| ing houses about an average of Is per
| cent.
or the s206, 100000 insurance on property
| in San Francisco destroyed by fire. $780,
! 10000 has been paid policyholders.
All interior cities report heaviest bust
ness in all lines in their history.
The following summary shows conditions
| In San Francisco:
| September building permits issued 1000;
value, s5,9O2,0O0.
Building contracts recorded, S16; value.
49, 252. O90.70.
Real estate transfers, 1,045
Bank clearings, $sS, 125OS47: September.
1906 s16s. S29. %; per cent increase, 1904.
| Oakland bank clearings for September,
| N4 4,51617
Permits for permanent buildings, COT; to-
tai permits for permanent buildings to
date. 1918.
Number of men doing construction work.
5000.
Average number of cars debris removed
daily. Ia.
| Financing San Francisco.
Some very interesting details of how the
San Francisco banks aided the me. camille
interests and individual depositors after the
fire, and the disposition made Of the in
surance remittances, are set forth by Zoeth
s. Eldredge president Of the National
Bank OF the Pacific, In a pamphlet issued
for the out-of-town correspondents of that
institution. After abiding to the gain in
clearances which showed a deficiency OF
1873 per cent in the first week after the re-
opening of the banks. which was followed
by a gain of 1873 per cent for the week OF
August 49, Mr.. Eldredge says:
"The great volume OF insurance payments
have been made by draft on the home Of
fee of the companies, or on New York
These are RENTED direct by the banks re-
ceiving them, and while the records Of the
California Promotion committee show III
permanent buildings under construction,
most of them are still in the debris-clearlng
| stage, and active building operations can
hardly be said to have yet begun. The
money is therefore still in tho banks and
| q statement of the national banks to the
| comptroller OF the currency under date of
| September shows an increase of indl-
vidual deposits Of ss,42S.O0O over the last
call OF June IS. Allowing the same ratio
OF increase TO the state banks, the total
increase would be about SIS, 10000 A great
part OF the meney has thus remained in
the banks. awaiting active building opera
tions, and it was estimated that San Fran
cisco banks had invested s3O.o0O.oOO In time
paper I'm New York The insurance COM
panies had at risk in the burned district
OF San Francisco something like s250O0o-
900. An allowance of 10 per cent salvage
on this amounts very liberal estimate
would have the companies liable for $225,-
00o.000. Some companies pay in full. others
not at all; but most companies pay some
thing. Conservative and we'll informed men
have estimated that 70 per cent OF the in
surance money would be paid. say s155Oo0,
900. About $4,000 900 of this has been paid.
Banks and the Mint.
1.-THE fire which swept the city on those
fateful April days puts its hot seal on
every bank vault. Warned by the bankers
OF Baltimore that it would be unsafe to
open the vaults under three weeks from the
date Of the fire. meeting OF the San Fran
cisco Clearing House association was
called for April 3. to devise ways and
means to relieve the distressed people who
had lost homes business and ALL and had
not money to buy the commonest neccs-
stiles Of life. For few days following the
fire all stores and stocks OF provisions were
held by the military, but In a week the
martial grip was loosened. and those who
had money could buy what little there was
10 sell. At this first meeting of the Clear
ing House. measure was adopted for the
relief of the depositors OF the banks. which,
| when worked out. provided for the estab-
| lishment OF a union bank at the United
| States mint under permission OF the sec
Rotary OF the treasury. TO which could be
transferred from New York through the
subtreasury such sums as might be re-
quired. Each bank looked after its own
| depositors. and was permitted TO advance