The herald., 1893-02-19
CONSTANTLY JUMPING UPWARDS
Real Estate Continues Increas-
ing in Demand and Value.
Another Big Spring-Street Sale In
dicates the Tendency.
w. III. Perry Purchases the Turnverein
Hall Property-Opinions of Experts
on the Condition of the Real
Estate Market.


pending negotiations for the purchase OF
Turnverein hall by Mr.. W. II. Perry.
the owner of the adjoining Los Angeles
thester, were concluded, and that gen.
teman became the possessor of the
building at the price of $100, 900, which
is to be paid on the nail on the passing
OF the title. The building is go feet
front and 165 feet in depth. Mr.. Perry
will put another story on it, and erect
an elevator which will serve both Turn
verein hall and the theater.
The hall will continue to be used as
place for amusements and entertain
ments, under the management of Harry
Wyatt.
OPINIONS ON THE MARKET.
Mr.. John F. Humphreys, who is an
old resident OF this city, was asked yes
terday as to his opinion regarding the
future of Los Angeles county. What he
had to say will certainly be of interest,
as he is one of the best posted men on
the real estate situation in Southern
California.
'The genuine prosperity of Southern
California depends almost entirely upon
two items: First, the varied and profit
able results from the soil, and second,
capitalists attracted by the climate and
the productive and beautiful homes of
the farmer, as climate would cut but
small figure without such unparalleled
productions. If my theory is correct it
proves how the future depends upon the
producer, and that every effort should
be made to encourage him. Three hun
dred acres planted, say this year,
to apricot, peach and prune-where
the total cost of land with trees planted
would not exceed $40,0OO is far better
in this city and county than $400, 900
building erected in the city by ''cou-
pom clipper" content with 5 per cent
net from tenants whose goods are
brought from the east and dependent
upon the produce. Show me large
area of prosperous producing country
or city following in Its wake in proper.
ton to it's productiveness. The incom-
ing OF Mr.. Cudahy with his packing
business means more for this county
than five times the same amount ex-
pended on business houses to rent to
tenants, and his profits will be in the
same proportion; besides. it opens up
mnch needed dormant industries.
1--WE should frown down every effort on
the part OF booming spectators to re-
peat the last hurtful boom by laying out
the whole country into town lots. With
present transit facilities, we have
enough lots for years to come. Moth
ing should be encouraged less than 10
to 20 acres, upon which an industrious
man can plant and make living and
profit. / realized $4,000 from the fruit
OF 70 acres in peaches the past year,
and RAISED 2S00 choice royal april
cot trees on lot 40 100 feet
the past two years, and just paid 25
cents apiece for 5000 more far superior
trees of the same variety, making 500
from the one-sixth of an acre in two
years. What more would you ask
We need the Nicaragua canal to land
our products in London at So per ton,
and California should lead off by appro-
priating $l0,000.000 toward aiding our
general government in building it. We
need the 300 miles of railroad completed
| to Salt Lake. and these four lower coun-
ties should club in and build one-half.
There is no question but that we are
again on substantial upward tendency
on the real merits of our county, and we
foundation of one OF the most beautiful
city will follow. Manufactures follow
city in good country. The further de-
velopment of coal oil; coal from the
Salt Lake road and the hidden power
for electricity from the water of noun
tain streams will come into use, and the
man of limited means, who will now go
to the country, buy out some home
stead claim or railroad contract (don't
try to jump it and either get shot or pay
ell you have in lswiDg), commence your
orchard according to your means, and
within five years you will have home
costing less than $5 CT $40 per acre,
worth 500 per acre or more.
Other opinions were as follows:
NJ q. McKoon--I can say positively
that the local real estate market is
looking up. Confidence has been re-
stored. The people do not hesitate in
making purchases and have begun to
realize that land in this section is "a safe
investment. This feeling of confidence
ie better now than it has been for five
years past. One of the causes of this
general animation is found in the pres
ent condition OF the eastern and Califor-
MIA fruit and vegetable markets. The
crops OF the former have been practi.
cally annihilated by the severe winters
and necessarily that section looks to
this country to supply the deficiency.
Realizing this, the people here are buy
ing up land which they are starting to
cultivate.
G. D. Bunch-The present condition
OF real estate is certainly brighter than
it has been Tor long time. Confidence
Is being restored and every thing ia
looking brighter in all respects.
A large number of people are
inquiring for property. Those looking
for places are not restricted to this Sec
tion. We are in receipt of letters al
most daily from persons outside Of the
Btate asking something of the local prop
erty. The communications come from
Oregon, Washington and all of the re-
naming states, and one this week was
from Canada. Another significant fact
of the healthful condition OF our market
Is in the fact that the people who come
to us for information are in earnest, and
are not 'just looking around" They
want to invest, and are doing 30.
Mr.. Gowen of Gowen, Eberle & Co.
While the market has improved greatly
within the past few months, do not
believe in flying off ON tangent. We
should take a conservative view of the
situation, and, if anything, under rather
than overestimate the market. It is not
. good thing to write in too fattering
terms of real estate affairs. For in
stance, If a stranger comes into the city