The herald., 1898-10-13

that Of sa tisfactlon based on the expectancy
OF a good volume of trade coming this faii.
The tourist crop will be larger than for
several years past, and inquiries for real
property show that there is a probability
Of some activity In that direction. The rains
are expected to mater.alize soon and their
arrival Will at once stimulate buyers to
action.
Thrty-two thousand dollars cash was Of
fered yesterday for sixty feet OH Spring
street between Fifth and Sixth and declined
by the owner.
The principal notable sale of business
property Of recent date is that Of a lot
fronting 35 feet on North Spring street, be-
tween First and Franklin, and running to
q depth Of 2dSM feet. which was sold to
George Coach, a Minnesota man and late
resident Of Pomona, for the sum of 81 500.
which we are Informed was all paid In
cash with the exception Of about $1,000. The
property includes a brick building of two
Stories, rented ON a ten years lease at $500
per month.
The sale was effected by Riley & Willard,
the Broadway real estate men. 1t has at
tracted a good deal of attention on account
of the high price obtained by o. T. Barker,
the former owner, and the only explanation
given s that the purchaser looked at the
revenue producing power Of the property
as afford.ng him good return on his m
yestment and had no thought of buying by
the foot frontage. In spite Of this fact,
however, dealers generally and capitalists
are not Inclined to accept the figure OBJ
taired as a standard Of value for that local
ity. A short time since a lot distant On North
Spring street about 300 feet northerly was
sold for $4,000, OF which only $50 900 was
paid in cash and the balance in trade. This
lot had frontage Of 46 feet and extended
back with an equal frontage on New High
street, the Spring-street half Of It being
covered with a three-story building, we'll
rented.
The contrast In these figures Is not so very
striking 50 far as the present revenue from
each property Is concerned. the gross yield
being in the one instance a little over and
in the other case a little under 10 per cent
present figure the return % an excellent
one. But the large number Of stores now
standing empty in blocks which formerly
had never known an idle week Is factor
that induces the conservative investor to
make his calculations ON q prospective
dim!nution Of income In certain localities.
Civil Engineer v. ]. Rowan has plated
for Frederick H. R.ndge large tract Of
land in the southern portion Of the city,
which Is to be graded, graveled, cement
curbed and S.dewalked. The property en-
braces both sides Of Grand avenue and
Hope street and the north side Of Thomas
street from tho railroad on the north to
the property Of g. Zobelen on the south,
also both sides Of Thirty eighth street
from Grand avenue to Thomas street 1t
e estimated that the work will require
l1s 800 square feet Of grading and gravelinE.
5000 linear feet Of cement curb and %, $50
square feet Of sidewalk. Frank w. Whit
tier has been awarded the contract and has
agreed to complete the work by Dec. LIST.
Mortgages filed for the week ended Oct.
llth were 119, amounting to $135, ,719, as
against 80, amounting to $131. .449 for the pre-
ceding week, and &c. amounting to $73 075
for the corresponding week Of last month.
Releases Of mortgages for the week ended
Oct. 1lth were 113, amounting to SOL ,l43, as
against 6S, amounting to $101 1886 for the pre-
ced!ng week, and "a. amounting to 81. .4o6 for
the corresponding week Of last month
Transfers for the week ended Oct. 18th
were 2l4. amounting to st7s,9ss as against
262. amounting to $217, ,6sS. and 1lS, amount
ing to S45s for the corresponding week Of
last month.
The corresponding week of last month in
~. IA 49, - a Na8