The herald., 1898-03-10
OFFICE OF THE HERALD.
Los Angeles. March ., 1898.
Good sense is the master Of human
life"

AkOo AukSAC1s 3&AaACA o. Aooo.
"Good sense is the master Of human
life."
The real estate market during the past
week has shown some slight signs of i'm
provement, and dealers have been little
more cheerful, in spite of tho absence OF
rain 1t IL generally conceded among those
who have made study of the situation
that while deficiency in the rainfall is a
circumstance to be deplored, the ef-
fects OF tho comparative drought ensuing
will not be felt SO widely as to en-
title the matter to be called a dis
aster. The development Of irrigating
facilities has vastly improved the outlook
for cultivators of the soil. and this SOUTH
crn country is not dependent entirely upon
industries that wait for rain.
Real estate men are not taking to the
Fiesta project with any great enthusiasm.
They claim that the festivities cause
complete cessation OF business in their
line. before. during and for some time
after the celebration, and that the time
has gone by to do any effective advertising
IN the east that would attract the curious
tourist to our sun-kissed soil. 1t is admit
ted. however, that a considerable impetus
VIII be given to the retail trade generally.
not to mention hotels and transportation
companies The net result, therefore, not
withstanding the want of time for effective
advertising. cannot but be beneficial to the
city.
Transfers for the week ending March
6th were S1S In number, amounting to
N92l10.; as against 295. amounting to $143
t7S. Tor the corresponding week of Feb
ruary.
Mortgages filed for week ending March
8th were 131 and amounted to $149. .31C as
against III, amounting to $225. 77s, for the
corresponding week OF February.
Releases OF mortgages for same period
this month were 120. aggregating $3S5,97S
- against 119 for corresponding week last
month. amounting to $2os,72a.
Real estate sales In San Francisco for
the month Of February, 1898, were 215 in
number and amounted to $704007. In Los
Angeles during the same period 114S sales
were recorded. aggregatlng $92S,912
o o o
There were s66 mortgages recorded In
San Francisco during the month of Feb
ruary. 1898, and they amounted to 81, 1885,
67 In the same month 496 mortgages were
recorded in Los Angeles. which aggre-
gated $Ss2.3l2.
Releases Of mortgages to the number of
1o4 were ISCOTueu III Sdu FIdOClSCO curing
the month of February. 1885, and they ag-
grsgated the sum of 81, ,457.2s1. During the
same month IA releases were filed in Los
Angeles amounting to $1.S72.54o.
The work of demolition of the one-story
building erected by the late T. D. Stimson
on the northwesterly corner of Spring and
Third streets has already begun. The
solidity of this structure at the time 1t was
put UP some five years ago was a matter Of
considerable comment 1t was designed
to carry three additional stories, but. like
every other project OF the kind that has
been attempted In this city, and like many
similar ones elsewhere, 1t was never made
to fulhll Its purpose. As the years roll
around changes occur in the requirements
for business purposes, and, as city grows,
what was once thought to be an elegant
provision for the wants of the community
turns out to be old-fashioned, and is out
done by some rival building. Had Mr.
Sttmson lived he would no doubt have car
ried out his purpose of putting up an eight
story building on this prominent corner. as
ready to receive bids The only modifica-
tion of his intention, however, is In reduc-
Ing the height of the building to five
stories, which will be finished in pressed
brick and terra Gotta The building covers
lot 12O feet on Spring street by 155 on
1ulIu. Nearly all Oh the ground uOOr mas
already been leased. The corner will be
occupied by the Southern Pacific company,
which will have an office thirty feet on
Spring street by Ito feet in depth. N. l3.
Blackstone & Co., the dry goods firm has
rented an Il" Of the building, with forty
feet frontage on Spring street. running
back to the full depth and turning at right |
angles. SO as to take forty feet of frontage
on Third street. This leaves store Of
30x11O, which is not yet rented. The upper |
floors Will be laid out for Office purposes
some what on the plan of the Wilcox block,
corner Of Second and Spring. The inten-
tion is to introduce every up-to-date ap
pliance for the convenience of tenants, ana
to make 1t first-class building in every
respect. building permit has been taken
out Tor 600 on account of the cost, which |
VIII probably very largely exceed this
amount.
In an article advocating the use of truth |
IN advertising real estate, the circular of |
Magee q Sons gives some wholesome ad-
vice, saying that every one has seen and |
laughed at the long hand bills distributed |
In cities announcing the coming Of circus. |
The most inflated bombast, the widest ex-
aggeration, with misty hyperbole and ad- |
1ectives exploding into equal parts of |
horidity and absurdity characterize these
dis Real estate auction advertisements |
are not SO extravagant as circus hand bills |
but they are cast in somewhat similar
mould. Poor, unstable, fourth-class, small |
business properties are described as "gilt-
edged Investments some back district |
lot is described as "a magnificent buy"
while one-story house and lot out by the
county line or at South San Francisco is
called "a rare chance for people Of small
means" Sure to double in value" is the
assertion frequently made OF some fifth
class. faraway house and lot which is un-
occupied from three to six months of the
year. "A buy for a man with means" is
said OF residence at the wrong end of the
CITY, and which, because of that fact no
.qne wants to buy. 1t is offered at auction
with the hope Of avoiding foreclosure This
system OF advertising is wholly to be con-
demned, because untruthful. What is
not true will neither wash nor win. The
advertisements Of firm offering any COM
modify for sale. frequently reveal the char
acter OF the men composing it.
o o o
The tearing down of the postofice at
Chicago. erected twenty-one years ago.
has aroused special interest because Of the
0nnOrtn0{tW 81