The herald., 1897-11-18
OFFICE OF THE HERALD,

estate market, which affords the bes
key to the actual condition of things
reveals q quite encouraging aspect a
viewed by the real estate men, banker
and capitalists consulted. While peo
pie may talk hopefully and exhibit con
fidence by an outward demeanor, tn,
best test of their opinion, after all. l.
to see to what extent they will back i
up by the actual investment of coin.
There is. perhaps, hardly a bette,
proof Of confidence than the willingness.
to put large amount of money into tty
preparation of tract Of land for pur.
poses Of subdivision. 1t may be noted
therefore, as an encouraging sign thai
there is quite good deal Of work being
done just now in getting ready for tht
people put their hands down in theil
pockets, which they would never do II
not convinced that the outlay would bt
a remunerative one.
In the western and southwestern parts
of town the spirit of improvement seems
most active. and a recent ride through
this district was an eye-opener as to tho
spirit with which the good work is be-
ing pushed. The most prominent piece
Of work Of this kind is the extensive un-
dertaking of Messrs. Clark & Bryan,
who have had large force Of men and
teams engaged for several months past
in the preparation of a tract of forty
acres which lies on the northerly side
of Pico street and Is bounded by Hoover
street on the east and by Eleventh street
on the west. This is piece Of land the
value of which was believed In by the
enterprising real estate men who are it's
owners. and they are now putting their
faith into works. and paying for the
works. A large part of the tract Is now
ready for the market and it is expected
to be finished entirely by the 1st of De-
cember. Clark & Bryan, with their
usual energy, have spared no expense
to make their investment attractive.
The water supply is one of the most i'm
portant questions to the homeseeker,
uiu thiS Ido pcIli PioNidCu lpi w PiPiHs5
the Burbank mountain supply in closed
pipes. thus avoiding the dangers of
open zanjas and insuring a plentiful
supply of the best water. The greatest
pains have been taken by careful grad
ing to insure n good fall for natural
drainage, and the lots, which are ali
50x150 feet in size, with an alley through
every block, will be in very considerable
demand for residence purposes. Already
the surrounding neighborhood is we'll
built up with an attractive class OF
houses, and the facilities for travel af
forded by the Pico Heights electric
street car line. which goes past the tract,
will speedily bring it into prominent
notice. The streets in the tract are
graded, curbed and sidewalkcd, and it is
Clark & Bryan's intention to begin at
once the erection of five handsome. two
story residences with all modern i'm
provcments. which will be offered for
sale as soon as completed. The price of
the lots has not yet been determined on.
but while they may be considered worth
a Thousand dollars apiece. judging by
the value Of adjoining lots, it is stated
to be the intention of the owners to put
them on the market at first at prices
away below this figure.
The sale of the southeasterly corner
of Spring and Fourth streets for $91 $50
is one of the most noteworthy that has
taken place for some time as indicating
the stoadiness of values The lot is
eighty feet front on Spring street and is
only eightysix feet deep. The improve
ments are of little value. This sale is at
higher price than has yet been realized
for such a location. The property was
bought by j. H. Bryan in July, 1887. for
sS4 900, and on his death in 1892 it passed
to his two daughters. by whom it has
just been SOLD.
A lot 26Ox214 at the crossing Of the
Santa Fe and Southern Pacific railways.
back of Hookers iron works, was sold
today by Clark & Bryan. owners, to the
Oil Storage and Transportation Com
pany of Los Angeles for $4,000. The new
oil company. in which ]. A. Graves is
largely interested. will at once proceed
to erect oil tanks and other extensive
improvements.
4 4
Ben White reports nine real estate
sales in the past ten days, with several |
more in progress. Other dealers have
also experienced good results.
= +
Work on the +. w. Braun bnildng, on
North Main street. Is at a standstill. W.
r. Tuttle. of the firm of Parton & Tuttle,
the contractors, has been kissing since
as to the cause of his disappearance. but
the fact that several thousapd dollars col
lected on estimates of work done disap-
pearcd with him. has caused considerable
anxiety to the creditors of the firm. They
have several other buildings under con-
but whether these will be af-
fected remains to be seen. AS yet no ef-
forts have been made TO locate the missing
and Contractor.
4 +
The supreme court OF Ohio holds that
the law Of that state In relation to fire
escapes ION oil buildings (save private res
idences) Of three or more stories in height
within anw city of the first class and first
class grade II In conflict with the consti-
tuition of that state. which prescribes that