Los Angeles herald., 1890-04-10
EXCEPTIONAL LAND VALUES AND
RETURNS.


county seem small compared to the
figures which are being demanded and
often paid for the raisin lands OF our
neighbor. And yet there is no evil
dence that these prices are excessive.
1t is very hard to put value upon lands
that yield the fabulous incomes that are
reported OF these raisin estates. 1t is
claimed that Mr.. A. B. Buffers returns
last year from not quite two hundred
acres planted in raisins were quite
$1,000 Col. Forsvthe and other Fresno
raisin-growers are also in the receipt OF
princely incomes.
What is legitimate price for a raisin
vineyard which yields per acre from 5000
to 81 900 worth of raisins yearly?
The answer, doubtless, depends upon
the extent OF the present market and
the prospects of its continuance. The
latest reports place the importation OF
foreign raisins at nearly three million
dollars year, and the American product
already reaches up into the millions.
The foreign importation can be abso-
lutely excluded by the American raisin,
and for the simple reason that the Fresno
article already surpasses its foreign rival
in quality, and the dealers of Boston and
New York are willing to give a better
price for it. The Malaga and Valencia
raisins are heavily candied by the voyage
across the Atlantic, and are practically
not in competition with the domestic
staple here, while the latter arrives in
London in the finest possible condition,
and already the European dealers are
giving it the preference. The market is
thus practically illimitable. AS the case
stands now, it will be years before the
limits of demand will be reached by Cal
ifornia producers. In addition, the con-
sumption OF raisins is increasing all over
the United States and the world. They
are being placed on thousands of tables
as dessert in households in which they
were formerly only used for cooking pur-
poses. The soil OF Fresno seems to be
peculiarly adapted to the production OF
superior raisin. With ample facilities
for irrigation, secured by the prodigious
snow banks OF the Sierras, the phenom-
enally small rainfall OF that county
gives unapproached facilities for curing
the fruit, as against the artificial drying
and frequent rainy spells OF the Valencia
and Malaga districts.
With practically inexhaustible mar
ket, it is hard to put value upon the
lands which produce this splendid
raisin. In Ireland, in the settlements
arising from the Encountered Estates
Court Act, the value OF land was capital
lied at thirty-three times its income.
Applying this standard to the Fresno
county raisin lands, which yield from
5000 to 81 900 net profit an acre, and
we should arrive at figures which would
make the hair OF an Eastern farmer
stand on end. But if we are not justified
in claiming such extraordinary values
for California soil, we are at least war
ranted in expecting to see lands in
Fresno county sell for several thousands
of dollars an acre when they have
reached the stage of a productive raisin
vineyard. 1t would be difficult to show
why they should not. In France, in the
Medoc and other approved districts, an
acre OF bearing vineyard is held at
| $2, 500, and in the case of famous vine
yards the figures are often fabulous.
As great and even greater results are
frequently reached in the cultivation OF
the orange. Five or six years ago we'll
known lady in Riverside was very
anxious to sell her forty-acre orange
grove for $4,000. Nobody would look
at it at that figure. She was obliged to
hold on to it; and, as a result, her
orange crop during the past year brought
her in $4,000. There is nothing un-
usual III such a return, although, OF
course, it was beyond the average. In
exceptional seasons there have been eX-
traordinary results from orange culture.
One year, to give an example in point,
old Mr.. Dawson sold $500 worth OF
oranges from some mature trees which
covered only about quarter OF an acre
of land in the southern portion OF the
city of Los Angeles. The late Don
Benito Wilson once kept an account Of
the returns from an acre of orange trees
specially fine and healthy, and found
that it footed up 1890. Such extreme
results are only given as an evidence Of
what may be done under exceptional
circumstances.
But let us take the usual experience o.
those who cultivate budded orange trees
On the supposition that they are set out
in the third year ofnursery stock, and in
proper soil, they will yield net profit
of $50 in the third year from the bud
and the yield will go on increasing
steadily. The labor is light and agree
able, and twenty acres in oranges sur
rounding place, not only make poeti-
cal home, but they secure to the forum
ate possessor comfortable income.
Again we ask, What are such lands
worth ?'' We are unable to answer the
question, but we are certain that people
have not yet begun even to dream Of
their real value.