The herald. [microfilm reel] (Los Angeles [Calif.]) 1893-1900, 1895-01-06
LOCAL FIELD OF COMMERCE.
4 Perceptible Stir in Real
Estate.
The South Broadway Boom Making
Itself Felt.
House and Lot Gossip-Building Permits,
Real Estate Transfers - Pro-
duce Quotations.

rhe FIRST week in the year has witnessed quite
little stir in real estate circles 1t is tree that
transfers are neither so many nor so heavy es
recorded in Los Angeles in times gone by, but
inquiry is increasing and all signs point 10 a
lively movement of dirt before The new year is
far advanced.
The city is filing up rapidly with refugees
from the blizzard belt A glance over the
hotel registers will show that many men OF
wealth ard prominence from eastern cities are
here Some OF these are regular yearly visit
ors others are here for the first time: all, it
goes without saying are fGvorably impressed
with Los Angeles.
The men who smsssed fortunes by investing
in real estate in Chicago, Minneapolis, Kansas
City and other cities before hose cities reached
their present size and commercial Importance,
see the same opportunity for making money
here. Nearly every live BUSINESS man who
comes this way makes an investment before he
returns east, knowing full well that no can
never buy property IN this city cheaper, and
that it is bound to increase in value.
Quttea numb OF fasteners who are here
now are negotiating foi real estate, come for
residence purposes, and others Tor business
properly. Ferdinand Helm of Kansas City aud
General Gordon of Minneapolis, who have
already invested heavily on Spring street ana
Broad way, are not the only enterprising CAPT
talisls who have a hsnkering for Los Angeles
realty. 1t is understood several Chicago par
Some of these are In fair way OF being closed
up. The coming week viii probably see a
livelier movement than the one just closed
THE BROADWAY BOOM.
The Broadway boom continues TO flourish.
The handsome buildings recently completed on
that street and others in course of erection
have wonderfully stimu lated the demand for
building sites between Second and Sixth
streets. Since the Pirtle Real Estate and Trust
company leased the southwest corner of Fourth
and Broadway and the northeast corner OF
Broadway ana Third, and made arrangements
to build on them, they have received many APP
plications for store rooms and ottice' in the
proposed structures, which is an indication
that business has q tendency to move in that
direction
tits rumored on good authority that several
other prominent Broadway corners Will soon
be graced with handsome business blocks. Mr..
]. W. Hellman's intention to erect tour-story
building covering the entire lot at the north
west corner of second and Broadway was an
nounced some time ago. Plans are now being
prepared for the structure.
II has been known for long time that several
parties have been negotiating for the purchase
of the First Presbyterian church property at
Second ami Broadway. An official OF the
four different parties were bidding for II, but
that none had yet come ap TO the prlce asked,
which is understood to be S65, 600. 1t was
limited that there was very little difference b.
tween the highest bio and the sum demanded
and that the property might change hands any
day. The names OF the prospective purchasers
have not been divulged, but they are under
stood to be people OF high financial standing.
II the sale is made to any of the persons nego-
tinting for it, the old frame church building
will be removed and commodious up-to date
business block erected in it's place. This, with
the Hellman block opposite, and General Cor
dons proposed five-srOry building adjoining,
will greatly improve the appearance OF Second
and Broadway.
AN UNFINISHED DEAL.
The rumored sale of the old synagogue prop
erty on Broadway by John ". Harmon to A. ].
Copp for 100000, lacks confirmation. 1t is
stated on the authority of q close personal
friend OF Mr.. Harmon, that he was offered S40,-
900 cash and $4,000 in other real ests.te, for
the property but the offer had not been finally
accepted. 1t is probable, though, that the
transfer will be made Mr.. Harmon bought
the property IN July, last, for $37 900. since
which time he has al ded about $5OUO in i'm.
provements Should he accept Mr.. Copp'G
offer he would make handsome profit, as the
real estate offered in exchange is said 10 be
worth the price it>-s listed at
THE2UCTIoN SALE.
The auction sale of lots held by G. A. Sumner
& Co., Saturday afternoon was we'll attended,
but bidding was very slow. Only four lots
were sold and they at ridiculously low figures.
One lot in the oil district was knocked down at
1925. The purchaser was offered and accepted
$4O0 for it before he left the hall. The lot is
easily worth 500 The sale seemed to demon
strate that people do not want residence lots in
the vicinity of the oil wells.
RANCH PROPERTY.
Inquiry for ranch property is increasing.
The fine prospects for this years orange crop.
AM the favorable opening OF the season for
farms and orchards have unquestionably stimu-
lated the demand for acreage. If the favorable
conditions continue throughout the season,
more ranch property will be sold this year than
for some years past.