The herald., 1897-10-28
OFFICE OF THE HERALD,
LOS ANGELES, October q, 1897


though presenting no features of special
interest. The transfers for the month up
TO and including the 26th inst. amount to
s6i1,5li. while the mortgages for the same
time aggregate $519,2O4 1t is a significant
fact that the releases have pretty nearly
kept pace with the evidence of indebted
ness. Up to and including the 25th inst.
the releases of mortgages amounted to
S4S2, ,425. which Is considerable gain over
the same period last month.
Dealers report steady inquiry and con-
siderable transactions in residence prop
critics. The largest transaction in business
property reported is the sale of the Rogers
block on New High street for $4,000 cash.
An important improvement in the business
tDrritory north of First street is the con-
vsmplated rebuilding of the Temple block.
at the junction of Spring and Main. The
lot is irregular in shape, and at the time
when the old Temple & Workman bank
was located in the north end, it was just
ly considered one of the finest improve
ments In the city. A large amount OF
money has been expended by the present
owners in expensive alterations and re-
pairs from time to time, but the resolution
which is said to have been arrived at to
tear down the entire erection and put up
q substantial five or six story pressed
brick structure in its place will give the
Dulard block worthy neighbor and will
undoubtedly have the effect of improving
rental values in the vicinity.
The old board of trade building on the
northwesterly corner of First and Broad
way is to be remodeled by the present
owners, the Bradbury estate, who ac-
Quired it under foreclosure of mortgage.
The property was purchased by the board
OF trade during the boom and cost about
$50 900. Enthusiastic members of the board
raised part of the money by purchasing
bonds secured upon the property, but these
were made subject to mortgage for $780,
0o0 which when it became due could not be
paid and foreclosure followed, with the
consequent loss of the property. The
building was put up for a stable, and was
never fiji for much else, although the upper
part of it was fitted up and occupied by
the California club, before it's removal to
the Wilcox block. The intention now is
to tear out the front walls and make the
building over into three-story structure,
which ought to rent well and be a perma-
nent Improvement to Broadway.
Desmond, the halter, will move into the
Helman building, northwest corner of
Broadway and Second. This means the
Spring street, and more will follow if some-
thing is not done soon about the resurfac-
ing of that thoroughfare.
1t is stated that Mrs. Eliza Wilson has
already ordered plans for three-story and
basement brick hotel building, to be used
as an addition to the Broadway hotel and
10 be erected on the lot she recently pur-
chased. with frontage on Hill street. The
contemplated improvements are to cost
about 100000.
The demand for loans for building pur-
poses continues active and the Building
and Loan associations will do a good busi-
ness.
The reported strike of oil on Brooklyn
Heights is corroborated by reliable parties,
who say that the matter is kept as quiet
as possible while leases are being secured
of territory to be worked. The statement
is persisted in that the discovery has been
made of large quantity of fine oil, similar
to that found at Puente as reported in
these columns some days ago.
+ 4. 4
Reports from large cities all over the
country show real estate to be advancing
in price. Real estate is booming in Louis
wife. Real estate men in St. Louis re-
port steadily increasing business. Many
people in Kansas are paying off their
mortgages before maturity. There is an
increased demand for good houses in New
York, and considers rable activity in lots for
improvement. Real estate dealers in Chi
cago see every prospect of a good business
this fall. The market is improving every
day. The Louisville Commercial predicts
that next spring will see real estate selling
for 10 per cent more than it will bring now.
An exchange remarks that the farmers
in Kansas are starting fires in the kitchen
Figures showing the amount of street
frontage occupied by business buildings
under construction at the present time on
some Of the principal business streets of
Los Angeles are given by the Builder and
Contractor as follows:
fGf MAIN STREET
H. Raphael & Co., 4 stories. ........ 40 feet
+. w. Braun, stories cor. Repub-
lie .......................... .2SI feet
X. M. Baker, stories cor. Arcadia 1873 feet
Westminster hotel, stories, corner
Fourth street OBSERVATION-DISCLOSURES. $50 feet
Total ............. ..........-......SSo feet
SPRING STREET
Nelson Story, stories ............ 6S feet
Thomas Bassett, stories .......... 20 feet
Armory building, stories, corner
Eighth ..........................2 .255 feet
]. w. Vandevoort, stories ........ go feet
John Crimmins, l story ............ go feet
IOldl s.ss''.'.s 400 ltel
BROADWAY
Gardner & Zellner, stories.... 70 feet
j. r. Vogel, stories ................ 40 feet
NV. Hellman. Sstories cor. Second.2S5 feet
John M. Gilbert, stories .......... 50 feet
JOS. D. Grant, 3 stories, cor. Fourth.203 feet
H. j. Slater, 9 stories ............... 30 feet
Homer Laughlin, stories .........120 feet
IOtaF ...... .....'.'''..''..''..'' leet
HILL STREET
Mrs. E. Riethmuller, stories ...... AZ feet
Total frontage .....................21s PISS feet
Several other buildings. completed and
occupied during this month, are not in
cluded in the above list, notably the Har-
ris building four stories, with frontage
of so feet on Spring street; the Shannon
building, on South Broadway of AZ feet
frontage, and Brode building, of 40 feet,
on South Spring street.