Los Angeles herald. [microfilm reel] (Los Angeles [Calif.]) 1900-1911, 1908-05-24
CITY ON VERGE
OF GREAT BOOM
REAL ESTATE FIRMS DOUBLE
CAPITAL IN PREPARATION
PROGRESSIVE CITIZENS BELIEVE
NEW ERA is AT HAND
Present Building Activity Is a Good
Siqn-Future of Los Angeles to
Transcend All Past
Periods

Indications point to boom in real
estate next fall. In order to be able TO
cope with the increasing business one
large firm has arleady increased It's
capital to double and others are con-
sidering such a step. There Is plenty
of money now, and as the time goes on
it's circulation will gradually expand.
The Indifference of depositors In saw
ings banks to withdraw their funds
after giving six months notice last
fall shows that a complete restoration
of confidence in business institutions
has developed. Numerous loans are
being made by the banks and business
is increasing with strides and bouids.
Progressive citizens are one in the be-
lief that a new era of prosperity Is at
hand and that Los Angeles in the near
future will transcend the Los Angeles
of the past, which, considering the
city's marvellous growth In the past
ten years, is a statement radiant with
assurance.
The week just closed was one of
building activity and preparation. Sales
in the city could have been better per-
haps, but the preceding week made up
for any slight shortage. The architects
were unusually active and plans and
specifications are being rushed forth
with all possible dispatch, patrons
being eager to commence the work of
erection of the numerous buildings in
contemplation. The summer promises
to be a period Of progress in home
building. Then, IL signs make good,
the city is to have, beginning with the
fall months, the greatest boom of its
remarkable history.
Record Lumber Shipments
Three steamers now discharging
cargo in San Pedro harbor have
hra fch in q nf &
assorted and mining timber.
These figures cover the entries made
by three vessels in three days. Since
May 1 a grand total of 26529,000 feet
has been entered at the custom house.
There are seventeen vessels to ar
rive before June 1, which will run the
total imports of lumber up to record
figures for May.
These figures do not include lath,
shingles, poles. piles and shakes.
which are entered by count and no not
come under measurement.
The Southern Pacific company,
. through the head of the system, E. H.
Hartman, is said to be back of
proposition to do some extensive irri-
cation work in the Imperial valley, and
which will make it possible to irrigate
and reclaim about a million and half
acres of land, at the cost of $5,000,0 00
The proposition of Hartman is said
to be the construction of a high line
canal, beginning at a point on the AL
amo river twenty miles east of Sharp's
heading and following an old bench
line on the north and east sides of the
great basin known as the Salton sea.
1t is said this water could be taken
all the way to Indio and supply water
for all that district known as Coachella
valley and in the Thermal district.
Imperialism Diego Road
Definite steps were taken last week
towards securing a good highway from
Imperial valley to San Diego.
A thorough inspection of the pro-
proposed route from Jacumba easterly
was then made. 1t was determined
that practically the route of the old
military road from San Diego to Yuma
was the best line yet proposed, and
the proper method of procedure would
be to provide for the joint action of
the surveyors of San Diego and I'M
perial counties in fixing the easiest
grades and lines of most economical
construction.
Planning to engage in the growing
of eucalyptus trees on StupendouS
scale the Southern California Eucalyp-
tus Forests corporation, which was re-
Gently formed with capital of $1,000
900, is getting down to business. The
principal scene of operations is to be
located in the vicinity of Ell Cajon. 1t
Is devised to secure acreage and plant
the eucalyptus which assumes a rapid
growth and for this reason it is pointed
out that this species of forest is des-
tined to solve the future timber supply
of this part of the country, as well
as many others.