Los Angeles daily herald. [microfilm reel] (Los Angeles [Calif.]) 1884-1890, 1886-05-30

l---l--l- --
Total l2ooos 20 22,1l2 o5l2a,4i2 COL -.:-.
The total for the five months Of tn,
current year to date is sl4 .S2O.s5. Ihi
is an average of s2964 IL, and at thu
same ratio the year would come t
$35, 570.04, or nearly fifty per cent
increase on the previous year. and no
very far from hundred per cent. in
crease over the first year in the table
The transfers OF realty for the montl
just closed aggregate S2,04b,OOO U
course there were many deeds passed II
which the consideration was purel,
nominal. The every day business o
the office shows from thirty-fve t
forty transfers day, aud the sum o.
the considerations will run al $50, OG0 Il
100000 day. This is taking
about the average work o.
the office. Some days the
transfers run up to so and the considers
tions have aggregated rs much as $3.50,
900 in one day. Il is to be observed
that large sales such as figure In big
cities are never made here. A sale
where $50, coo to 500, 600 is the consid
Grafton would be large one here The
number Of the transfers day, IS to 40
and the sum OF considerations $50. 00t
to 500, 900, will indicate that the aver.
age would be from $1,000 to Sz,50t
each.
Where the table above begins the ap
probation Of values in realty had al
ready made very noticeable progress
In 1880 there was some stir made by the
advent Of newcomers. The following
year values had been set moving
little on the up grade. By the end OF
1882 considerable enhancement hadtaken
place. New people were coming il quite
rapidly and there was an active demand
for property. The course Of events ia
clearly marked since then in the table at
the beginning Of this article.
FORTUNES MADE.
In the forty-one months embraced 10
that tabulated statement the considera,
tions for the realty put on record would
run away up into tile millions. Out Of
these exchanges there have been made a
good deal Of money. The Angelefos Of
former days as the new people came
In and began to purchase homes thought
the sky had fallen and they proceeded
to catch larks. The alscrity with
which they picked mp the shekels and
signed away their property was anus.
ing. The buyers went down to the nexi
train, met friend from Connecticut OF
Kansas and sold out the newly acquired
lot at 25 to so per cent advance. Al
each turn hundreds of people said well,
the top notch has been reached. The
boom must be at its highest limit.
This sort of outaiving has been heard on
each street corner daily for fully four
years. Daily the tide Of newcomers has
continued. These were fresh from the
frozen zones Of the hyperboresn regisns,
or from the land Of cyclones, and
in their ears rang the cry oil
thousands who sent up continual aspi'
ration for ability to get to California
These knowing that immigration must
increase rather than diminish for years
to come, "got in long" on corner lots and
thereby doubled up their bank accounts
at rates enormous. In 1880 the Lindon
Park was offered to one of the longest
headed operators in real estate in this
city for $4,000. He neglected to take it.
Meantime Mrs. Bigelow stepped in and
took il at a slight advance on the figure
named above. She holds it to-day at
100000. This is an example out
of thousands. There are several
men here who 10 1880 were
SO near bankruptcy that they were
actually tottering to fall. To-day some
of them are literally millionaires.
Is THE BOOM RSDEDs
1t is not-for the simple reason that II
is not boom at all. The enhancement
in values is not speculative. IL is the
outcome of legitimate growth. Thai
growth has not reached its limit, and
will not reach its limit until the city
contains LOG, 900 souls. The growth ia
the past has run faster than values have
Travelled after its car OF progress. II
is not claimed that while the city
increases one and half times
with the next ten years, thai
the value OF all the wealth in the pueblo
will be enhanced in fully the same
ratio. But it is claimed that the rise in
values will be somewhat in proportion
to that growth. There is some centra
property now held at $500 per front
foot. Such will hardly rise to $1,000 Q
foot. That is the highest price vel
paid for realty on Market street, San
Francisco. But all outside property
must rise greatly in value, and much o.
It will increase twice and even Eve times
In the next decade. That the tint
has not passed to make money
is eyinced by the fact that Mr.. Brysor
made nearly S40,0 in his deal in thu
Bernero property corner Spring and firs
streets where the bank building is goinl
up. Mr.. j. NJ. Riley made So, 900 in tn
lot corner Fort and First in a few days
A syndicate made $4,000 in the oppo
site corner in few months. Mr.. Smitl
cleaned up about the same amount GU
of the property corner OF Temple ant
Fort In few months, and then turne,
around and made 5000 in a few day
by buying and selling the lot corner o
Fort and Third. These deals are goin,
on daily here and will continue so to d.
for several years to come.
WHAT Is THE BASIS
On which this enhancement in valu
rests! In the first place when the thin
began in 1880, there was an abnorms
depression in values. Tho property wa
lower than there was any reason to jus
tify. Then again the climate Of thil
country will continue to draw larg,
numbers OF people. many of whom vii
be wealthy and will come here to enjo,
money rather than to make more. Thu
comfort of living here will induce al
who can make living to crowd in
while there is standing room for them
Thirdly, the region is an EXCEPTIONAL,
rich one in all respects and the preduct
OF her soil, of her mines and of he
oil wells will furnish occupation
and business for vast numbers OF PEG
pie. The orange groves of Los Angelo
will pay big interest on $1,000 al
acre. Her deciduous fruits and grape
will pay IL per cent. on 81 200 to 81 so
an acre. Raisiu grapes will pay RICH
up to the higher level. The corn an
potato lands will pay far better tina
such property will in any other country
Dairying here is far more lucrative tina
it is elsewhere In the country. Th
mere grain lands Of this county will pa,
atarate Of 800 an acre. The oranges q
the county have Melted nearly 81 900. 00C
The hay, barley and wheat crops wi
enrich all who are engaged in them thi
wear beyond the experience OF an
other farmers in the United Statess.
1t il really fact that the old-timeI
who were in such rush to get rid {
their property for any money six yeal
ago are now taking heart OF grace an
H.