Los Angeles herald., 1907-11-22

mo money has been sent east for the
purpose of lending it," he declared, but
the banks have made special efforts to
loan money to aid tho business and
farming interests of Southern Califor-
MIA"
The banks of Los Angeles, he said,
are trying strenuously to serve the
best interests Of this section and for
this purpose are working together har-
moniously. giving up old animosities
and doing all in their power to restore
confidence and give aid to the interests
on which the community depends for
its existence.
'At no time have felt so optimistic as
at present" said Gilbert S. Wright, presi-
dent of the Wright & Calender company,
who followed Mr.. Hervey. He spoke of
the great advance in real estate values
since 1887, the year in which he first en-
tered real estate office as office boy.
and of the phenomenal growth in popula-
tion of the city. the most remarkable in
crease in the history of the country, ac-
cording to the census of 1890; of the ener-
getic work of real estate men, builders
and manufacturers; the discovery of oil,
and the building of the harbor at San
Pedro; all of which, he declared, has
made him confident with the present and
future of Los Angeles.
Everything to Be Thankful For
eve have everything to be thankful
for and nothing to fear" said Mr.. Wright.
1.-THE demand for building lots and resi-
dence property is as great now as at any
time, and this is always a barometer
showing the condition of our business
life."
Postmaster Motley H. Flint spoke of the
work being done to bring the Elks' con-
vention to Los Angeles in 1909, and said
he believed this city cou,C feel assured
that the gathering would assemble here.
AS an evidence of the prosperous con-
dition of the city at the present time Mr..
Flint quoted many statistics showing the
wonderful growth in the postal receipts
in the local office.
1.-THE receipts in the Los Angeles post
Office he declared, "have increased every
year since its inception, in spite of hard
times or panics, and this condition pre-.
wits today. Los Angeles Is the only city
in the United States which has shown
such increases under adverse conditions
throughout the nation, and bespeaks the
stability of the business and financial In
terests of the city. 1t is now the eight
ecnth city in the country in point of pos
tai receipts"
AS Mr.. Flint ceased speaking Mr..
Weidner, the POSTMASTER, asked that
some plan be discussed and adopted
whereby the wage Garner could be
reached in order to impress upon him
the folly of boarding his savings. He
suggested that the different fraternal and
other organizations be appealed to in
order that this result might be attained.
George H. Stewart, president of the Pa
cific Refining company, offered a motion
in accordance with Mr.. Weidner's sugges-
ton The motion, which was unani-
mously carried, was as follows
THAT it is the sense of this assembly
that the directors of the Merchants and
Manufacturers association use their best
efforts to secure action along the line
suggested by Mr.. Weidner."
R. w. Burnham of Duns commercial
agency was the next speaker.
"An unusual condition prevails" said
Mr. Burnham. with business pros
perity at its highest point, because of
the timidity of the people and the hoard
ing of savings in safety deposit vaults a
crisis has been caused. Public confidence
has been shaken because of the dishonest
methods of some Wall street financiers.
The situation is in the hands of the bank
depositors. Business was never on a
better basis in Los Angeles and prospects
were never better"
n. w. Franks Opinion
q