Los Angeles herald., 1908-01-07

| furnish such information as l have at
hand and gladly cooperate with 1t in Its
work
| One source oil revenue which is being
neglected is the bed of the Los Angeles
| river. This is an immense sand and
! gravel bed which if owned by private
corporation would be yielding a vast sum
of money. Although 1 sent special
message to the council urging you to
give it your attention and get the revenue
which is slipping through our fingers no
action has been taken
River Bed Revenue
Within a short time it has come to my
notice that a business firm formerly
taking sand from the river bottom pur-
chased twenty acres of land fronting on
the river In Vernon and paid $57, 600 l
am reliably informed the reason this pur-
chase was made was because the firm
feared the city was soon to take steps
to sell it's gravel and thought the pur-
chase of this land would be to its finan-
cial advantage. This gives an idea how
valuable business men consider our
gravel bed.
There are between 1900 and 1000 loads of
gravel being taken from the river bed
each day. Figured at 10 cents a load the
city would derive a revenue of more than
$50, GOO a year. Sand and gravel easily
accessible is growing scarcer each day
and more valuable. No time should be
wasted in protecting the possession we
| have and turning 1t into source Of
| revenue.
l am also informed that the river bot
tom is being used as the outlet for waste
water and sewerage by manufacturing
/ concerns along the river front. This
waste INJURIES the gravel bed, which
should be protected. New and more
stringent laws are needed. A corpora
/ nd mt fine
of $500 and an Imprisonment clause might
protect the river bed.
| Some months ago 1 urged the council
| to place a license tax on so-called social
clubs No action has been taken. In
six months there has been a great in
crease in these clubs. They do business
under a slate charter which gives them
the right to dispense liquor to members.
As long as the state law legalizes them
AMI they may come whether we want
them or -ot 1t seems to me that the
city should derive some revenue from
them. l submit the matter again 10 you
for consideration at a time when the
city needs more revenue and when we
are adjusting our license taxes.
Owens River
The courage and confidence of our peo-
pie of the future of the city was put to
the supreme test in June when the Owens
river DODu 6ltCllOH was hNAh- nc en-
phatic manner in hich the people ex-
pressed themselves in favor OF the project
establishes 1t as being next to that of
public health the most important sub
ject with which we have to deal.
It fortunately happens that this stu
pendous enterprise is being launched at
a most favorable time from an Industrial
and business point Of view. The country
generally Is entering on a period of busi-
ness depression that will no doubt affect
the price of all material used In the
construction of the aqueduct In the city's
favor.
Our city would no doubt have to share
in these depressed conditions were 1t not
that fully 80 per cent of the vast sum
to be expended will go to employing
our own working people and will flow
through their pockets into the channels
of city business. giving 1t stability and
life until such time as the coming of
this great water supply will enable us to
reap the harvest of the enterprise in the
enrichment and further Identification of
our already beautiful country.
The growth of the city for the past
thirty years has been unique in that
while other cities have been more or less
retarded at every recurring interruption
to the general prosperity of the country.
something has always interviewed to tide
us over the dull period so that there has
never been a backward step In the citys
progress In all that time.
The last notable instance of our good
fortune In this respect was the discovery
of our rich local oil, enabling us to d.
vert the attention of investors from inor-
dinate land speculation to the less allur-
ing but more substantial business of man.
ufacturing.
with the coming of Owens river water
however, we will not have to depend on
such fortuitous events as our prosperity
and welfare will then be founded on a
basis as secure as the rugged mountains
from which the water flows.
The time may on first consideration APP
pear inopportune to the placing of bonds
on the market. but it must be borne In
mind that enormous sums have been
withdrawn from trade, due to the scare
induced by the discovery Of gross infla-
tion of Industrial stocks and the conse-
quent distrust of the bonds that back
them. This capital will shortly be seek
ing an opportunity for investment and
will naturally first seek safe, even If low
interest bearing securities, so that the
financial scare may in the end prove
somewhat of blessing to our project
In view of these circumstances would
therefore urge that the engineering force
of the aqueduct make careful forecast Of
the funds required, so that the work may
be prosecuted with all the vigor and
energy consistent with economy and good
workmanship. 1t should also be the duty
of those having charge of the financial
management OF the enterprise to see that