Los Angeles daily herald., 1889-02-28
BUSINESS.
Hsw Are It's Currents setting These
Days.

Hsw Are Its Currents Setting These
Days.
A HERALD reporter yesterday had
chat with half dozen real estate agents
ON the condition of the market. He pro-
poses to give what he heard to the pub
lie. r. w. Drumgold was the first VIC
tim of the mind pump. This gentleman
said: Yes, find the tone of the market
better, and the undertone in the situa-
ton is really strong. You see the people
who we're loaded down with debts are
rapidly getting into an easy position.
There has been great deal OF property
pressed on the market by people who
had obligations to meet. At the same
time there have been very few people
with money to buy, or those who had
money were for the most part afraid to
make q new plunge. They all stood
aloof waiting for developments. The
few who would buy found 80
MANY snaps on the market that
thew we're chary of putting their
their money into anything. They were
naturally desirous of getting all they
could for dollar. But this is much
changed. There is less selling pressure,
and there are many more buyers IN the
market. A good many Eastern people
are coming in and picking up eligible
lots for their own use. They will build
residences on them. Others are buying
very desirable properties along the prin-
cipal streets. There are a great many
snaps still on my list, but not one where
had ten. They are rapidly clearing
up
w. G. Krutz, Jr., was one OF those
met on the street. He said:
81 certainly find the market firmer
than it was. You see just as soon as
one of my customers makes a turn and
gets little cash, he pays off his pressing
obligations. Most of the buyers are
cash men who do not care to
pay our high rates of interest.
but prefer to pay for what they get out
of hand. This, in many instances, re.
lieves the seller of all his membranes,
and the fellows who yesterday were crazy
to sell anything they had at sacrifice,
to-day are as cheerful as if going to 3
feast, and will not sell anything. Just
rs soon as q man gets free from debt he
knocks all signs off his encountered prop
erty, and says quietly that he will wait
for better times before he sells anything.
l still have customers in distress and
snap bargains on my list, but they will
not last long, from present appearances.
The sellers are becoming fewer and the
buyers more plentiful. The outlook for
the future is good.
The Bradshaw Brothers, Zellnar and
Mcdonald hunt in fours. They say that
money is getting much easier than it
was. There is more capital in hand and
not 80 sharp demand for it. There are
more people coming in looking for prop
erty to buy, and there is less timidity
than there was. All hands seem to
realize fully that bedrock has been
reached, and that now is emphatically
the time to buy, as prices cannot be
lower, but may begin to rise at any mo-
ment. Just as soon as there is the least
bit of really active demand developed,
settlers will take advantage of it to force
values back to where they we're year ago.
All signs point to a good legitimate
demand for nice property OF all sorts,
and when that era sets in, the buyer will
have to pay better prices than are gen.
orally ruling now.
J.C. Wilmer was discovered rushing
around to close up trade. He said:
'It is not 80 easy as it was to get q
man a good trade. I am making them
nearly every day, but do not find as
much pressure on me from the side of
over -burdened holders. You see hun
dreds of men who did not know where
to turn have traded out of their diff
culties. They have traced off their en-
numbered stuff mostly with Eastern
men, and have got clear Eastern prop.
erty for their equity. There are still
some such pieces on my books,
but nothing like what had
few weeks ago. There is
more downright buying going on now.
Two months ago genuine sales were not
numerous; but they have ceased to be
rare. The demand is a healthy one,
and it is on the increase. look for
better times at very early day."
Mr.. Pelez James, the banker from
Anaheim, was met on Spring street. In
answer to the query as to how matters
are going at the old colony, he said:
They are quiet, but they are improv-
ing. Money has been very close, in
deed. There is more ease in the market
at present. You know, the boom did
not at any time drive Anaheim much.
We always kept our head. Our people
are a very industrious, quiet and SUBJ
stantial people. But the close money
market which has prevailed all over the
Union was felt by us here too. Were it
not for the mortgage tax we would be
able to get plenty of money in here from
the East. You can not get Eastern peo-
pie to take kindly to this law. They do
not understand its workings and are
prejudiced against trying to study it out.
1t should have been repealed. But we are
. getting along well at Anaheim, and
there is an era of prosperity ahead for
us. New people are coming in and they
are making purchases.
For the Orphans.
A lady of this city has thought of the
following plan to aid the Orphans
4 l. L