The herald., 1898-01-27
OFFICE OF THE HERALD,
January 26, 1898.


"'rhere is an ultimate point of depression
as well as of exaltation, from which human
affairs return in a contrary progress, and
beyond which they never pass, either In
their advancement or Decline"
The real estate market has not yet re-
covered it's buoyancy, and dealers are
complaining quite seriously of the dull
ness that has pervaded their offices
since the holidays. Transfers recorded
for the week ended 25th inst We're 214
in number and aggregated 5000, ,77S,
which shows a falling off compared with
the same week in December, when they
We're 264 in number and footed up $751;
SAG.
w. o. Dow says that while trade just
now is quiet in real estate, yet the sea-
son bears remarkable promise. The
influx of tourists is the heaviest he has
remarked in the history of the city
While the expected rain has not made
its appearance, it must not be forgotten
that the prosperity of this section does
fall of a single season. Los Angeles is
no longer sheep county, liable to ruin
il the herbage should be dried up. The
increase of cultivation and enormous
development of water supplies nave
promoted the raising OF other crops be-
sides wool.
McGarvin & Bronson find that al
though they have plenty of inquiries for
property, that they run chiefly to busi-
ness investments and residences. Spec
ulative purchases are not asked Ior
There are plenty of men with money to
loan, but those of them who are new
comers appear to have had their eXpec-
tations raised to higher degree than
is warranted by circumstances, and as
a consequence they are disappointed,
not being able to make loans at high
interest.
AS an instance of the result of inde-
cision, the story is told of an eastern
man who for the last seven years has
made an annual visit to Los Angeles.
When he first came he wanted to buy
certain lot. but as the price asked was
$500 per front foot he declined, saying
that it was too high, and that prices
We're bound to come down. Each year
he looked after the lot he had marked
for his own, but the price, which kept
creeping up, was always too high. AT
last he gave in, and recently purchased
the coveted property for 5000 per foot
or three times what he could have for
merly obtained it for
Ben White, who ordinarily does a con-
siderable business in snap bargains, also
says that the new year has opened in a
very lamblike way. He is full of conf
dence, however, and thinks that the
signs all point to a prosperous year.
Conant & johnson have a large rent
ing business, and report that the de-
mand for houses is unusually large,
Their renting list is pretty nearly clear.
There is a strong inquiry for certain
class of cheap houses, indicating that
mechanics are settling here more num-
erously. Real estate is quiet.
Clark & Bryan are concentrating
their chief energies on sales in the Lone
Star tract, and report business satisfac-
tory.
Other leading dealers confirm the
material points given above. and there
is decided feeling of confidence in the
business outlook.
The talk about a new theater building
appears to be largely premature, and
the statements that have been in circu-
lation to the effect that one was to be
put up, are not justified. An amusement
manager has commissioned an architect
to find him a capitalist who will build
such an edifice. The amusement man
ager will then rent it, AT last accounts
the confidng capitalist had not been
found.
The proposition to raise $500, 900 on a
sale of bonds, the proceeds to be ex-
pended on a system of storm drains for
, the city's use during the few days in the
year when it really rains heavily, is not
likely to meet with much encourage
ment. Bond issues appear to have gone
out of favor lately with the people, and
some stronger inducement than the
benefit to be derived from half million
dollars worth of storm drains will be re-
quired to make people vote to increase
the public burden of taxation.
Mortgages recorded for the week
ended on the 25th inst numbered 101,
and aggregated $$1S3,S94, as against lis
amounting to $142, ,460 for the cores
ponding week of December. For the
same period in January, releases were
81, amounting to $160,947, while for
same week in December they were
1OO amounting to $237,S3
r + +
San Francisco real estate market is
reported dull. The volume of loans and
repayments continues large, but
scarcely any building is in progress.
During the whole of last week only two
building contracts We're recorded, ac-
cording to the Chronicle, and these
amounted to $7697. The Los Angeles
city record for the week, as will be seen
by the list below, was 43 permits issued,
aggregating $58,515
+
Ex-Mayor w. H. Workman is con-
tinuing his efforts to raise subscriptions
to a bonus of $4,000 demanded by the
Traction company for the purpose of
building a steel viaduct across the river
at Fourth street. Mr.. Workman has
been quite successful thus far. and has
raised nearly the entire amount, includ-
ing liberal subscription of his own.
The viaduct will be 1900 feet i'm length.
The line of railway is designed to run
Il -,