It shall be the duty of all persons owning or controlling any lot of premises on where there is any hole or excavation next adjoining or near to any street, sidewalk or alley in the city, to erect and maintain suitable guards or barriers around that hole or excavation so as to prevent accident or injury to persons or property passing along that street, sidewalk or alley.
('71 Code, § 100.14) Penalty, see § 97.999