Imperial Valley press., 1912-06-28

and title to the tdie lands lying with
in the corporate limits, contingent up
on the city of San Diego appropriatlns-
81 .OOO, 900 toward the reclamation OF
same by the construction Of sea wall,
and with the further proviso that the
city shall forever after maintain pub
lie docking facilities. These condi-
tions were received with enthusiasm
by the people of San Diego, and bond
issue was made for the first $l,OOO,O0V
and work started on the Improvement.
When completed, San Diego will have
about eleven miles of docks, which
will be adequate docking facilities for
a city of a million population. In ad-
dition thereto, the Improvement, when
completed, will reclaim 1000 acres of
land suitable for warehouse and fac
tory sites, 500 acres of which lie con
tiguous to the business district. 1t is
from the rental of this large tract of
land within the heart of the city will
materially reduce the operating eX-
penses of the city government, al
though at the present time San Diego
has a very low municipal tax rate.
The plan which the city is now de-
veloping contemplates the building of
| % 900 feet of sea wall having a mini
Imum depth of 80 feet at low tide. This
improvement, it is estimated, will cost
5000, 900.
Most important of all and factor
which will have decided bearing for
good upon the future commercial and
industrial development of the city IS
the fact that it will require less capi
tai to conduct new enterprises in San
Diego than in any other city of the
west, because investors will not be re-
quired to purchase factory and ware
house sites. 1t is proposed to place
l the land reclaimed in harbOr improve
ment, which will be worth $50 to $500
a ront foot, at the disposal of prospec-
tive manufacturers for a nominal
pied. That the city can afford to do
! this and still receive princely reve-
nue. per annum is evident to the most
casual observer For example, a rent
al at the small sum of $25 per month
per acre will net the city, when all
ground is occupied under lease, $500
pay interest on all bonds necessary to
make the harbOr improvements. In
fact it would pay the interest on
per cent bonds and still leave a sink
ing fund which would retire a bond
issue of $3,0O0,O00 in 20 years. A
manufacturer figures 10 per cent rs
the minimum net return on the capi-
tai invested. At this rate of interest,
the rental of an acre of ground would
equal an investment of $4,000, which
would be mere bagatelle, consider
ing the advantages this land will have
in the way of transportation facilities.
Opportunities for Business
Low reight rates, cheap fuel, mod
crate taxes, splendid transportation ia
cilities, free factory sites at low rent
al, rapidly increasing home market
and trade extension with Central and
South America and the Orient offer
exceptional opportunities for manufac-
turing industries that can be made to
pay big returns on the investment.
While most manufacturing projects 10
be operated successfully must be on
la comparatively small scale at the
start, the city has today the best open
ing for cotton mills on a large scale
to be found in the United States
American cotton goods command the
markets of the world and the greatest
future market for the surplus output
; is the Orient. If an enterprising Yam.
kee could secure an edict requiring
the teeming millions or the Flowery
Kingdom to alter the style of the
Chinese cotton blouse by lengthenine
il ten inches, it would take all of the
cotton mills of the United States run
ming night and day for a whole year tc
supply that extra yard.
There are total of 1877 manufactur
ing plants in operation in San Diego
having a total annual output value
, at $4,661,S40.
| The New Industries committee o
[ the Chamber of Commerce, after {
careful canvas of the situation, recon
mended investigation of the following