Los Angeles daily herald., 1889-04-27
r.vovahIe Condltions.

Favorable GOAaAsA~A
There is a great deal of money in ados
Angeles just now seeking invef.sweut.
4ny one who cares to cast his eyez over
the advertising columns of the daily
press will find that the offers to loan
money are largely in excess of those to
sell land, which is quite healthy indi-
cation. The rates of interest are also
coming down very sensibly. There is a
large amount of money in this city just
now which can be had in small sums at
rates ranging from eight to eleven
per cent. gross. These figures are still
high, but they are very much lower than
the rates which prevailed couple of
months ago. Of course, in large trans
actions the rates are very much lower
in fact, quite reasonable. The banks are
full of money. and everywhere there is q
feeling that things are picking up. Los
Angeles county just now is a specially
inviting field for investment. The pro-
cess of liquidation has been successfully
accomplished, and there has been but
one great failure in the ordeal
that of Mr.. Webster, of Pasadena.
The swing of the pendulum has been as
great in the direction of depressing val
ues as it formerly was in enhancing
them, leaving more bargains in real
estate in Los Angeles to-day than in any
other portion of the American continent.
The natural result will be a large i'm
migration for settlement and the acquisi-
ton of property for the income it will
yield. Even in the dullest of the 80.
called dull times which have been wit.
messed in Los Angeles since the cessation
of the psper-town craze, large amounts
of outside capital have been invested
here. Much of it came from Chicago
San Francisco and Oakland. We are IL
a position to state that much of it will
shortly come from New York. The
peculiar climatic, geographical, railway
and ocean advantages of Los Angeles
are we'll understood in the East. Capital
lists that would not have touched property
with a forty foot pole when figures wert
inflated in adv vance of developments, are
quite willing to see its advantages wher
:at the bedrock figures that prevail to
day.
Many of the improvements that are
taking place nov are being made with
outside money, not in the form of loans
but in the shape of downright invest
ments.
i A very important factor in the reyiva
which is under way for Los Angeles, il
the splendid harvest which is ahead. The
unprecedented acreage which has beer
sown to the cereals is looking well al
over the county. We shall not only have
plenty of hay, barley and wheat for oul
own consumption, but a great deal fol
export, and prices promise to be unusu
1 ally good. Dakota, which has lately
furnished from thirty to forty millions
of bushels of wheat annually, will thil
year be obliged to buy that staple fol-
food and seed. The wheat crop of Aus
tralia has suffered greatly from
drouth, and this is also the case witt
Kansas and other portions of the North
west. With normal crops in Russia
England and France, wheat is certain t,
rule high. The supply is small, and al
the conditions point to an active marke
at remunerative prices.
Railway development promises to b,
active in Los Angeles county, even max
ing no account of the several transconti
mental projects which have been mucf
discussed. The wharf project at SAINTS
Monica seems to be certain enterprise
and the new wharf at Redondo Beacl
, aHd the new railway from Redondc
Beach to the city are assured. Witt
enormously increased production, cheaI
lands, improved facilities for transporta
ton, abundant money and the process o
liquidation nearly completed, all tn,
conditions of prosperity exist here in un
usual measure, and great activity in al
lines of business may be confdentl,
looked for at an early day.