The owner or occupant of any house or lot where any vault or any opening for cellar doors, areas, or steps, is in the process of construction, and on account of which there is any excavation in any street, alley, sidewalk or public place in this City, as well as the contractor or builder of such vault, shall be charged with the duty of fencing off the excavation, and of causing a lighted lantern or lanterns to be kept at some convenient place by or over such excavation, so as to throw light thereon, during every night while such excavation is not securely covered. No such owner, occupant, contractor or builder shall fail to keep such excavation fenced or a lighted lantern placed as provided above. (1947 Code §25.14)