The herald., 1897-05-09
OFFICE OF THE HERALD,
Los Angeles, May s, 1897

days included, numbered 2S4 ant
amounted to $3.50, 539. OF these 2S4 trans
fere 1t is a noticeable fact that no les
nominal amounts. The custom Of insert
ing these trifiing considerations in deed
of transfer appears to be on the increas,
and makes ii extensively difficult to keel
purposes OF comparison with other cities
On the other hand the record of mort
cages is Photographic in it's accuracy
and the inference that may sometime 8 bs
drawn from putting the figures of trans
fers alongside those of mortgages nigh
be frequently misleading, if due weigh
were not given to the fact that 80 many
of the transfers. recorded for small sums
often represent consldera BILE amounts.
Among the deeds of the week have been
Andrew Mullen eft al. to Caroline Walk
ley, lot IA and west 35 feet, lot 13, in
La Fuenta place, $7250. J. Wadsworth
ct al. to w. G. Ladd. part of division H.
SJs VI. w. w. dSsOC.d tlpIi ldAQs, 9fl,AOV' .
G.. Wooster ct al. to G. G. Green, divis-
ion c, Thoop university place, S6750 j.
3. Phillips ct AL to Colin Stewart, lots
in Cochran & Spitley's sub, $4,000. 7. F.
Lukens ct al. to w. F. McGee, 40 acres on
Mission and Baldwin avenue, $4,000 7.
L. Cherry to NJ. H. Cherry, lot 6, block l.
vigus tract, $4,000. c. B. Van Every ct
al. to Fanny Wethern, 2 lots in Knob Hill
thact, $5O0O E. S Rowley ct al. to S. b.
Mann, lot 10, Bancroft tract, $4,000.
The mortgage and trust deeds record
ed during the same period were lib in
number to secure $511, ,209.79. OF this
amount "a loans were made by banks and
building and loan associations aggregat-
ing $780, 250 The bank loans were as fol-
lows: Los Angeles Savings bank to
Chas. Gasson and Wife, S12,0 one year
S1s per cent. FFarmers and Merchants
bank to Lambourn & Turner, $1,000 two
years, 10 per cent. Southern California
Savings bank, four loans, $4,000. German
American Savings bank, three loans,
$1,000. Union Savings bank, $500. State
Loan and Trust company, $3.50.
The total for the week is largely in
creased by the inclusion of a trust deed
given by the Pasadena & Pacific Rail-
way company for s35O,O0O. Other mort
cages of large amounts are w. F. MCGEE
to Charles H. A. Lukens, $4,000, seven
years, III per cent. T. P. Flint ct al. to
Equita Bile Building and Loan associa-
ton, $4500 twelve years, 10 SD per cent.
w. o. Dow ct al. trust deed) favor Union
Bank of Savings, $1,000. Mary j. Glover
ct al. to L. Woodward. $4,000, one year, 9ts
per cent. L. S. Roberts ct AL to w.
Phraner, $4,000, five years, per cent.
Releases of mortgages from the 1st to
the 7th instant. both days inclusive,
numbered "a and aggregated $149,S7S.
In making a comparison of real estate
with stocks and bonds as desirable
form of investemtn, the Real Estate Cir
cular has the following to say in regard
to San Francisco and we quote ii be-
cause the gist of the argument can b.
made without any strain to apply to
Los Angeles. The Circular says:
In this city and throughout the United |
States, since the hard times set in, six |
1ears ago, there has been an increasing
tendency on the part of many large /
money holders to invest in stocks and |
bonds rather than in business real es-
ate. Even here, where interest rates
are higher than in Atlantic cities,
'eally good stock or bond cannot now be |
mad that pays over 4 per cent net per
annum. The best business property pays |
l1nh toy hot ~ IT,,
ion, a strong probability of future in
crease in value, which the stocks and /
ponds have not, the general impression |
being that, now and for several years
past they have all been too high. The |
'eason why stocks and bonds have been |
sought here and elsewhere in prefer |
ence to city real estate, is due to the fact |
hat the latter has been more and more |
oppressed by outrageous local and state |
taxation. High taxes, higher taxes, |
still higher taxes and yet higher taxes, |
las been the rule. Three -fourths of the |
'eal estate of this city has gone down 25
o 80 per cent since May, 1891, ae rents
have also, and yet, while city .
and and improvements were assessed |
'or only $235, ,361 76S for the fiscal wear
S90-91, in 1S96-97 they were assessed for
Y u, 1874, 295. In spite of theee most dam
aging facts to real estate, we would still
prefer it to local stocks and bonds, The
after may be and are greatly injured
~ incompetent or dishonest manage
nent or competition, While, in the case
II real estate, only the owners own
nismanagementc can wreck it, The twin
wills of city and state official extrava-
,ance and mismanagem too, can be
emedied a any time that taxpayers
eriously unitedly ard determinedly
axe hold of reform. When good times
eturn, as they eventually must. rents
VIII advance and real estate increase in
'alue, while stocks and bonds are not
% likely to do either. because they are
low greatly overrated. We therefore
'refer real estate.
At the San Francisco stock and bond
Exchange yesterday Hawaiian Com
neicial sold at l0l2 to 11ls, Hutchinson
at IS TO 1875, Alaska Packers :,
association at 10OA to 10O15. Cortra
costa Water at So, San Francisco Gas
nd Electric at 93la and Market street
ailWay per CENTS at 1861 Mutual Elec
ric at 91@ to 99s, and Spring Valley
Water al 9S.
The coinage at the San Francisco mint
or the first four months Of the calenda.
ear compares as follows:
1896 1887.
double eagles...........sG.10o0oo $6,6Sdo1o