Los Angeles daily herald., 1889-02-25

SAN Francisco, February "a DAME
Callahan, who with Jas. G. Flood ant
others, established the First Nationa
Gold Bank and who afterwards became
its President, died to-day. He leaves ;
furtune Of MT less than 81 900, 900.
Land Values.
We had the pleasure of meeting at the
Hotel San Gabriel few evenings ago g
gentleman prominently connected with
the railroad interests on this coast, and
during the conversation, in regard to the
present prospective business of this sec.
ton Of the country, he spoke in the most
encouraging manner. While not equal
to that Of last year, he said 1--WE do not
feel discouraged, it is on the increase,
especially between local points, dem.
onstrating the permanent and ra-
pid increase of actual settlers,
and the general improvement OF
the country. We could not ex-
pect the business to continue on the
high pressure that existed during the
years 1886 81, when the great so-called
boom existed. During the cut rates
thousands poured in here expecting to
make their fortunes in few days, as
during the gold excitement Of 1850. Then
it was only necessary to secure pros.
pect to ensure a fortune, and here it was
only necessary to secure an option on a
corner lot, no matter where, whether in
"pay dirt" or not, and they would
awaken the next morning worth their
thousands, but in either case it was not
all gold that glittered. 1t was a fortunate
thing, in my opinion, that this theory
of making fortunes was brought to a
stand.still. Ii it had eliminated sooner
it would have been better. 1t is this
class mainly that have suffered, but
relatively speaking, the individual loss
has been light, and so far as can learn,
those that were level are COM
paratively in good financial condition.
Of those who, instead of investing in out
side lots on speculation, purchased 5, 10
or 20 acres, aud have improved the
same, have now something to show for
their money and labor. Their land is
capable of producing anything that
can be grown, but judgment must be ex-
ercised for lands that are especially
adapted for vineyards or deciduous fruits.
You do not want to plant oranges or cit.
rus fruits, conform to the idea OF the
eternal fitness of things. Many talk
about the fabulous prices of lands. This
idea is erroneous. The truth is when
this section OF country WAS beginning to
attract attention, on the advent of the
railroads. the values were nominal and
much below their true valne and real
merits. I have travelled over large por-
tion of the Western, Northwestern, Mid
die and Eastern States during the past
sammer and fall, and in cities in Kansas,
Nebraska, Iowa, Wisconsin and Mime
sofa. as also the Middle States, and
may add found cities not more than
one half the population of Los Angeles,
where corner lots or outside property
desirably located, were rated at higher
price than property similarly To-
Gated in and near Los Angeles, say moth.
ing about the advantages of climate, and
where on land you can cultivate and
produce two or three crops year. /
know whereof 1 speak. They claim no
one can buy lands and pay $500 and
$500 an acre for unimproved and pay in
terest and taxes. Admitting this is an
extreme price for unimproved land,
will explain what / know to be facts
This same land has been planted tc
raisin grapes at that cost, and for two
years tomatoes, peas and potatoes
planted between, producing remunerative
crops, and the fourth year the crop o.
raisin grapes sold for $75 per acre or
the vines; in other words, a check was
given for 81, 700 for the crop of ten acres
Of raisin grapes. Now, what is that kinc
of land worth?
1 have been close observer for my
1r,v, &C o%;0r ocJ ovo co4scGol a. =,
it is as much in the man as it is in the
land. The same good judgment and
economy practiced here as in the East
you can in my judgment make ten dol
lars to one, say nothing about the com
fort and satisfaction of living in such 6
climate. know from my own persona
knowledge that there are thousands O
acres Of choice land, with good water
right around here, that can now be pur
chased at reasonable SUM per acre that
is as desirably located and as productive
for the cultivation OF the orange, lemon
vine or deciduous fruits as any section Of
Southern California. And yet tht
erroneous impression prevails that yo,
cannot buy any good lands less than $4O(
to 5000 per acre for the bare land, an(
orchards 81 900 to $4,000 per acre. Ii
some locations this is true. And why
Because, as 1 have before demonstrated
lit pays a handsome income on tha
price. My information is compiled
from actual observation and con
versetion with practical men, Oh
whose judgment you can rely. From
what can gather am satisfied South
ern California will produce a much large
crop of cereals than for any previ
GUS year. The year is favorable, an
there is more disposition to cultivate
then to speculate. A very large acreag
is being planted in all varieties of fruits
prices seem to be manifestly we'll sus
tanned, and predict that within anothe
two years there will be a large increas
in population, an prices we'll sustained
The prediction make from compara
lively disinterested standpoint. "--[ Eas
San Gabriel Herald.