Los Angeles daily herald., 1888-08-09
NOTES OF PROGRESS.
The s.BOOm,' a Pretty Lively Corpse

still.
Yesterday a HERALD reporter met a
real estate man on the street and got
into conversation about matters in his
line of business. The dealer in
dirt was most emphatic in the view that
turn in the tide is on. He says the
furthest point in the ebb current has
been reached, and the flow is the other
way now. In a short time it will be at
flood. Pressing the agent for core particu-
lar circumstances it was learned that hard
ly a day passes which does not witness
the signing OF new papers in the office OF
this firm. Yesterday two large sales
were effected, and several new parties
turned up making pointed and earnest
inquiry for property. This dealer stated
that the seekers for bargains are mostly
Eastern people who have recently ar
rived here.
"Why," said he, "look at your own
hotel lists in your papers. You will see
arrivals from every State in the Union
chronicled every day." The reporter is
bound to say this is dead true.
From this agent the reporter
went to the office OF second
and propounded the same inquir-
les. The new man said his firm
found more inquirers for property every
day. The people coming in seem to
mean it too more than for weeks past.
They are new people too. They want
property mostly to improve and settle
on. This dealer said there are great
many more lnquirers than buyers. He
thinks there is some disposition
to hold off little longer
in the hope that anxious sellers may
offer better inducements, and that peo-
pie who are overloaded will vet be will
ling to get out at larger concessions. In
answer to an inquiry as to what proba-
bilities of this programme being carried
out, there are, the agent stated, that he
thought there were little or none. He
says creditors will wait and not press for
settlements. So long as the interest is
paid, they will be satisfied. Besides,
most of those who overloaded have sold
more or less, and always at an advance.
They have borrowed money and put off
the settlement to date far ahead, and
are in position to hold on.
"No," said this dealer, ri do not think
there will be further shrinkage in val
ues. Now is a very quiet period and
those who must sell are little at the
mercy of the buyers. Later on there
will come the great winter rush of home
seekers; then the boot will be on the
other foot. This is emphatically good
time to buy. Those who do so will find in
ninety days that they have saved ten
per cent. on their Investments" Con-
tinuing he said: 'T live out in the
western part Of the city. In coming to
my office this morning, in the strip of
blocks lying between Ninth and Tenth
streets, and from Sunbury to Pearl
streets, l counted no less than nine fine
dwellings going up. That is the best in
dication you can have that our affairs are
going forward; and they will 60 forward
for long time to come. Nineth
street has been graded. To-
morrow work will begin on
Tenth street. The Westlake Park is
being put in nice shape. Go where you
will you will find the same notes OF pro-
gress and improvement. Look across
the street. Mr.. Krutz is excavating
there to put up fine brick block. On
the corner above us Judge Reddick is
putting up bank building. He would
build up the whole corner of First and
Fort with structure to cost
500. 600 If he could get the tenants
out of the shanties. All throughout the
business center the same is going on at
all points. That proves to you that the
boom is a very lively corpse"
On the way back to the HERALD office
the reporter met DR.. Lindley, who, with
out knowing what particular scent the
news-gatherer was following, said:
GAS came into the city this morn
ing on Figueroa street I saw
three buildings just being begun. They
were all near each other, and asked a
neighbor what class of residence they
were to be. He replied that they are to
be strictly first class houses, each to
cost $15 900 to $25 ,0O0."
eyes," reflected the pencil-pusher,
"that is rather lively kicker of boom
for midsummer; and yet the unthinking
call it dead"