The herald., 1897-07-03
TT fE
OFFICE OF THE HERALD,
Los Angeles, July

Los Angeles, July r.
Real estate transfers recorded in 14os
Angeles county during the month of june
were 1929 in number, of which S77 werel Tor
nominal considerations. The aggregate
amount fos $9S9 172. This is little
below the volume for the corresponding
month of 1896 but at the same timt the
number of transfers was largely in excess
an indication that residence and other
medium priced properties have had good
sale.
The comparative figures for thte moh'h
Of June are as follows
1897, June, 1929 transfers ..........I. Sss9 ~
1896, June, S32 transfers. ..........f. IVool4l
1885, June, 1853 transfers .........t. llzls5i
\
Real estate mortgages reco1ded IN Los
Angeles county for the monfh OF June
were AL in number and aggregated soo'-
OIL This amount includes TRUST deeds, Oh
which there have been quite aJnumper Hieu
since the law extending thS Tune for re-
demption under foreclosure Oh mortgage
came into operation. UndeF trust deeo
there is no redemption ti1ne at ALL the
trustee being empowered tQ sell the prop
erty and pay the lender of the money MS
claim out of the proceeds. 'lhe mortgages
for june amount to only apout one-hall OF
the corresponding month"; OF 1885, ana are
about 80 per cent belowl 1888. The COM
narrative figures are as fbllows:
1897, June, AL mortgages. ....... Sooo'on
1896, June, 573 mortgages }.......... l2s2,H5
1895, June, 512 mortgages ........... sSS,SlS
y 4 II
The releases of mortgage recorded in
I,os Angeles county during the month Of
June were 1896 in nunAber and aggregated
$74S, 1862, being $93 091 ia excess OF the mort
cages recorded during the same period.
r r
1t appears areadNfto be conceded fact
that the erection Oh very lofty business
buildings is not in any case satisfactory
from the investmenN point OF view. own
ers are already realizing this truth and
future investments of this kind not
likely to increase by reason of the example
of nrofit made by present proprietors. The
Real Estate Circular of San Francisco has
the following to say upon the subject:
We do not think that d. 0. Mills, with
his present experience would like to build
another Mills building, even if he had an
eoually valuable and equally eligible va
cant lot on which to erect it. We also
more than doubt WI neither the Crocker Es-
tate people wouldN re-erect the Crocker
building on its present or any other site,
If any disaster overlook the existing build
ing. Buildings four to five stories high,
rather than cloud scalers, will probably
hereafter be most in favor. street
sign is of value inNletting the public know
a mans name ndNbusiness, and where his
office is, but those who have offices in tall
buildings are buried in obscurity; at least
there is no public tsign al the entrance to
these buildings; only what is known as
"directories' in small type in the halls by
the elevators There are few sky-scrap-
ing buildings in the United States that are
not architectural blots TO the streets on
which they front. They are all tending
more and more to lower rents, and there
fore becoming poorer investments. They
make dark windy canyons of the streets
on which they front. If they were con-
tinuous life in business streets would be
intolerable THEY will soon suppress
themselves, we believe and pray because
they will no lohger pay. They are de-
signed to gather town of tenants upon
a small lot; they mountainous eXhib-
tions of greed, (which fair-minded people
will be glad toNsee fail.
II y \
Concerning beet sugar factories, Hubert
Dyer in a communication to San Fran
cisco journal correcting certain errors re-
Gently said that the sugar beet factory
at Los Alamitos. Orange county. will have
daily capaeity this year of 400 tons,
which will ,oe doubled next year. This
factory is run entirely by American ma
chinery. American design and build and
not copied from German plans. Mr..
Dyer also says: In America today there
are, roughly speaking. ten beet sugar
plants; tWoSof these are the work of Mr..
Spreckles three the work of the old AL
10 III IVA g. NJ throa la
work OF the Oxnards: the remaining two
are the direct outcome of correspondence,
soil and beet tests made by the pioneers of
Aivarado. Moreover, of these ten plants,
ok were located where they are because
all the preliminary tests of soil and beets
had been we'll and thoroughly made (and
\this includes Salinas) by the pioneer AL
4varado people, who for years were the
sole beet sugar manufacturers in America.
and who are now the sole manufacturers
of American beet sugar machinery.
Sometime ago Secretary Gage prepared
tentative plan for the reform of the cur
rency which he communicated under an
Ioblgation of secrecy to number of rep
resentative bankers and financiers
! throughout the country. In spite of the
provision about secrecy, says Bradstreet's,
he plan in it's general features has been
made known. 1t contemplate the gradual
UetlFemenI OIL Ine RfeeIlDdCkS ana the SUBJ
sttution of national bank notes therefor
4 allowing national banks to issue notes to
the full amount of their bonds instead of
80 per cent, at present, reducing the
tax on national bank circulation from one
to one-fourth of 1 per cent, limiting the
denominations of bank notes and all other
paper money to ten dollars and substi-
tuting silver for all sums below. The main
features of the plan, which, of course, is
not original with Mr.. Gage, have long
been familiar to the public. Up to the
present none of the opinions of those to
whom the plan has been submitted have
been made public, but doubtless they will
be in the main favorable, except, perhaps,
as to the provision respecting silver. OF
course there is no probability or, indeed,
possibility of anything being done in ref
erence to the plan before the meeting of
Congress in December. The time remain
ing before then will doubtless be utilized
by the Secretary in celebrating the plan
for submission in his annual report, where
1T can be discussed at length.
The cable companies on sly put into
effect new rules for counting messages. In
messages written entirely in plain language
each word will be counted one word up
to fifteen letters. Should word contain
more than fifteen letters, every fifteen or