The herald., 1897-11-25
OFFICE OF THE HERALD.
Los Angeles. Nov. "a. 1897.

OFFICE OF THE HERALD,
Los Angeles, Nov "a, 1897.
The prevailing tone In real estate cir
cles shows an increase of confidence.
based on the fact that buyers are COM
ing to the front more numerously than
heretofore, and transactions of import
ance are In process of consummation.
while some have already been closed.
The transfers recorded during the cur
rent month. up to and including the
23d inst, amounted to $971 ,075 as against
$5S4,367 for the corresponding period of
October. The transfer of the Cerritos
Ranch property accounts for a large
amount, namely $4O5,00O, and the fig
ures are very cheering taken as a whole.
II The amount of new mortgage Indebted
mess incurred during the month up to
.22d inst, is $451,7s9, and the amount re-
leased in same period is $3S6,775, which
are also very satisfactory figures.
Bank deposits keep up in spite of
( heavy Withdrawals to pay taxes and
money is easier than it has been for
Some time past.
? One of the principal sales of the week
has been that made through Clark &
!, Bryan to John M. Bonner of New Or
leans Of a lot on east side of Broadway,
between Sixth and Seventh streets, for
$4,000. The lot Is 57x165 and the i'm
provements consist of a brick livery
barn Of small value" The price realized
is equivalent to s2.65 per square foot.
4 4 4
The recent developments of oil in
Boyle Heights and Brooklyn Heights
have brought that territory into prom
inent attention and buyers are looking
ters.
Our contemporary, Wood and Iron,
which is devoted to the interests named
In its title says:
Business all over the southern part of
this state Is booming and all trade cir
cles respond to the impulse of the bet
ter times which are about to come All
over the south there Is a feeling, as
one of the dealers recently remarked:
owing to the low prices on lumber and
the chance that they may go up, we do
not care to make contracts at pres
ent; lumber might go up. and yet we,
being under contract to build, would
70 l,,txy 70
would lose. That is the reason for so
much day work now. There is a great
amount of building being done, but few
contracts On day-work we are sure of
our margin, small though 1t may be-"
Lumber consignments from the north
coast are very seriously delayed by the |
fact that nearly all the available |
schooners have gone north with miners
and miners supplies. Local lumber piles |
nre running low and building sticks are |
liable to become scarce. Parties have |
,Eone1 east to try to- get vessels around |
the Horn, to be used in the coast trade.
The San Pedro Lumber Company
alone handles 1OO0OOOOO feet yearly,
which requires 400 schponers to carry 1t |
from the forests of the north This IS
sorted and stacked for drying In a yard
covering twenty acres, with water
frontage of 1900 feet.
1t is shipped by rail to Arizona, Texas
and New Mexico and nearer points. A
busy. buzzing little planning mill cuts
and saws the rough lumber into beauti-
full interior finishings of redwood. Ore
gon pine and other choice woods for
which this coast is noted.
With the advance of spring will come
general revival along all lines and the
best can be looked forward to. The
lumber trade is usually last affected. but
when prosperity comes it comes.
The reports published in certain pa
pers that architects were preparing
plans of three-story building to he
erected on the site Of the Allen block. at
the southwest corner of Temple and
Spring streets, have no foundation The
owners disclaim any knowledge of tho
matter.
The East San Gabriel hotel property
has been sold and will be converted into
q sanitarium. 1t is stated that plans
VIII be prepared for the enlargement of
the building so that 1t will comfortably {
accommodate 100 patients. An elevator t
will also be put in, the plant Of engine.
boiler and apparatus peculiar to sani-
tariums, will be put in first class order.
and other improvements added to the !
amount of $4,000 or $4,000.
+ + t
. Since commencing operations on the
of the old board of trade |.
building on the corner of First street ,
and Broadway, it was found necessary I
to tear down more of the old buildinr t
than was at first contemplated. The g
owners have now decided toremove the '
entire building, excavate the lot and add
an additional story to the original plan. :
making it four-story and basement 4
building. '
4 +
The Pacific Smelling and Mining Co..
IF Los Angeles offers to erect smelter :.
1t Prescott, Ariz., providing the citizens
agree to give them $3.50 per ton bonus
lp to $4,000, the smelter to be ready to I
operate by May 1, 1898. The smelter to c
start with a capacity of from sixty to {
eighty tons every twenty-four hours and :
Increase to 150 tons, If necessary. The :
Prescott mining exchange has the mat {
er under consideration and recommend {
hat n snaItinp evnart Iva oppoir+ad "a | r