Los Angeles herald. [volume] (Los Angeles [Calif.]) 1890-1893, 1890-08-24

There was no end of exciting
rumors on the streets yesterday as to
alleged deals in Second street property.
There may be some foundation for this
excitement, although the story is con-
tradicted by some of those said to be
very nearly interested.
The way busy tongued dame rumor
tells the tale is that those who are to
build the Secon d street cable road are
looking for new site for their power
house. The purpose of the new syndi-
cate is to run to both the great railway
depots by way of Second street and
Wolfskill avenue. The old power house
out by the Second street park is too re-
mote to evenly divide the cable. and it
costs great deal to haul the fuel over the
big hill to the engine. 1t is most desir
able to get near the center of the CITY,.
There is the rationale of the matter,
as the philosophers say. Now for the
alleged deals. 1t is said that two lots
near the corner of Second and Olive
streets have been bought for the purpose
in view. Attempts were made to get a
good site on the top of the hill near
Grand avenue, but property was found
to be too dear there, and besides,
the haul of the fuel to that point would
be difficulty. Therefore the corner of
Olive and Second was selected. Now
two lots there have actually been sold.
Mrs. Spencer's lot on Second street,
eighty feet east of Olive, was sold some
time since and has passed through sew
eral hands. 1t was part of an estate
and had to pass through the hands OF
trustee. Mr.. Jesse Yarnell who is
intimately interested in the cable road,
acted in that capacity. The lot is now
in the hands OF Mr.. Murietta. The
price paid for this was $500. 1t is 40
feet on Second street and runs back 120
feet. There is small yellow cottage on
it. Another lot sold there fronts
go feet on Olive street, commencing
100 feet south of Second. 1t is deep hole
and runs back 165 feet. Mr.. futile, the
sewing machine man, owned it and sold
it for ~ 500 cash down. The buyer was
Mr.. Sam Lewis, who is building fine
residence out on the hills near the Wit
mer mansion. He is said to be a
brother-in-law of the Wilmer boys; and
it is his connection with that of Mr..
Yarnell with the deal that has given
color to the reports that the new cable
company has an interest in the affair."
These two lots form an L around
one of Mr.. J. R. Higgins on the
corner of Olive and Second, the
old Lamora place. 1t is so feet on
Second street by 120 on Olive, and is
somewhat of a hole; but it is good lot.
Several parties have been to see Mr.
Riggin and learn what his property
could be bought for. He has fixed the
price at $21 900.
Has any cable company any interest
in these deals? Mr.. j. M. Wilmer,
who is supposed to know, in the in
terests of his brother, H. G. Wilmer,
denies that the new Second street syn
dictate has a bit of interest in these
deals. Others allege that the Second
street road will not be built for year,
and that when it is built it will 90 up
First street to Grand avenue, and
down that street to Seventh, a
branch running west on Second street;
and the allegation is made that it will
be the Los Angeles cable company that
will build the road. To give force to
this statement it is said. and on good
authority, that Mr.. }. f. Crank has
made the assertion that power house
will go on the corner of Second and
Olive streets. Here is conflict of state
ments, If the cable company builds up
First street to Grand avenue, power
house for their use will not be put at
the corner of Olive and Second streets.
1t is probably not true that it will
be year before anything is done on the
new road. Mr.. H. G. Wilmer is now in
San Francisco, and it is heads against
apples that the road will be built as
soon as he returns. He does not usually
take year to get to work. The survey
ors have already been at work, and by
the way, they have been looking up the
corner stakes about Olive and Second
streets.
These are all the wild rumors on all
sides. Only one thing is certain, and
that is that 40x120 feet on Second has
sold for $500, and 60x165 on Olive has
sold for $780, as much as the properties
would have brought in the widest boon
days.