The herald., 1897-04-08

The condition of the real estate mar
ket is slowly but steadily improving,
and the faces of dealers are consequent
ly assuming much brighter appear
ance than they have worn for several
years past. There seems to be an un-
dercurrent Of expectancy pervading real
estate circles and the dealers are covert
| ly watching each other with the inten-
ton of getting in on the ground floor
when the break comes. That there will
be a break is conceded as a foregone
conclusion, because there Is plenty Of
capital waiting investment and many
weuld-be purchasers In the city who
are awaiting developments. The mar
ket only needs a start to create lively
movement. and that movement may be
inaugurated now at any time.
Mr.. Smith. Of Nolan & Smith, stated
yesterday that the general outlook in
realty is better than 1t has been at
this season for the past ten years. He
also said that there were many cash
buyers In the city, most of whom were
looking for city property with the in
tention of building homes. II think the
prospect of a tariff on citrus and other
fruits is stimulating the market in that
line." said he. I'VE have recently sold
40-acre orange orchard for $4,000 cash
at Villa Park to j. T. Gonsalus.a a wealthy
Michigan lumber merchant, and another
orchard near San Dimas for $1,000 to
7. M. jerks of Chicago. In my opinion
the real estate business is steadily grow
ing better and the definite settlement Of
the harbor question has undoubtedly
had great deal to do with it."
Mr.. Dow. Of Grider & Dow, was Of the
same opinion There is plenty of mon
ey here" said he. probably over $2,00o.-
600 lying idle in the city's banks waiting
for investment; besides that. there are
numbers of people in the city who are
looking up property for the location of
home There has never been in the
history of the city so great an interest
taken in permanent investment Build
ing has again taken an impetus and 1
know of number of large business
blocks the erection of which is con-
templated. One Of the members of a
large paint and building supply firm
told me yesterday that their business
had increased enormously within the
last thirty days, principally through
contracts made for the supply of ma
terial for new buildings. The delay in
the settlement of the harbor and tariff
questions has made the people some-
what timid, but those matters once ar
ranged. the complexion of the real es-
tate market will undergo an immediate
change for the better. and that change
is liable to take place almost any day
now"
Easton, Eldridge & Co.. yesterday
closed a contract for 500 acres of black
garden land about half mile south
west of Gardena. 1t is their intention
to spend between $4,000 and $1,000 in
increasing its reservoir capacity and
then cut 1t up into small blocks for sale.
One feature will be to sell certain
number of milch COWS with the land, for
the purpose Of starting dairy district,
there being a large creamery in the
-neighborhood.
L. w. Hellman has notified all his
tenants between the old city police sta
tion and Broadway to vacate their of
foes by May LIST. he having finally de-
cided to erect the three-story business
block on the northeast corner OF Second
and Broadway, plans for which were
prepared some time SINCE
All through the real estate Offices
signs Of better times were plainly mani
fest and 1t is the general opinion that
there will be large increase of busi-
ness within the next fortnight.