Los Angeles herald., 1905-11-12
REALTY PRICES
HELD STEADY
LOCAL BANKERS SAY C0NDI-
TlONS ARE INVITING
Present Valuations In Business Section
FavorabIy Considered by Conser-
vatlve FInancIers-Sales
for Past Week

Bankers keep in pretty close touch
with actual conditions in the real
estate market. They are not likely to
be unduly influenced by enthusiastic
promoters for obvious reasons. They
watch the market closely at all times
and resist all requests to make loans
on any proposition that Is not abso-
luely safe. Generally speaking the
bankers find that the local realty mar
ket is In a very healthy state, with
some varying opinions as to present
values of business and close-in resi-
dence property. Conservative judgment,
however, commends prevailing values,
especially on business property.
Outside propositions are regarded
wholly as speculative by the bankers
and managers of money loaning insti-
tutions, but the owners of acreage and
the promoters of the sale of lots in
subdivisions are enthusiastic, and state
that never before in the history of Los
Angeles has there been such general
inquiry for outside lots for home sites
and for investment purposes.
The sales during the past week have
been fairly active, as shown by the
following deals:
Olive and Central Avenue
The Robert Mitchell company reports
the sale for w. w. Shrader, jr., to Mrs.
Ira o. Smith, of an unimproved lot,
80x105 feet, on the east side of Central
avenue, about 1876 feet south of Ninth
street; price $12,0O0 also for E. Hazard,
to w. w. Shrader, jr, the northwest
corner of First and Olive streets, lot
84X64 feet, improved with two frame
buildings containing six flats; price $24,-
600. Bought for an investment.
On Hill Street
Jonathan S. Dodge has paid Frank M.
Vail $22, 800 for an unimproved lot, 104x
100 feet, on the northwest corner of Hill
and Seventeenth streets.
On Central Avenue
Charles M. Stimson and U. s. House
have sold to H. H. Cotton the lot, 150x
205 feet, on the southwest corner Of
Central avenue and Twenty-fifth
street, improved with two-Story frame
building and cottage; consideration,
$4,000.
investment Purchase
George H. Rector has sold to B.
Henry, through Althouse Bros, an I'M
improved lot on the northwest corner
of Washington and Cherry streets, size
105X125 feet. Consideration, $12,750.
Bought Hotel
William Loudon has purchased
the commodious Hotel Netherlands
property on the northwest corner Of
Seventh and Wilmer streets, lot 1OSx
120 feet, for $4,000 The hotel is a large
frame building of forty rooms and is
leased for two years at $500 a month.
Corner of Twentieth Street
A. L. Cheney has paid H. r. Millard
$4,000, through local agent, for lot
9Ox150 feet on the southeast corner of
Twentieth and San Pedro streets. The
lot is improved with two-story frame
building and dwelling.
Site for Apartment House
The Mccarthy company has recently
purchased from Robert r. Jones lot g.
block A, Mott tract, on the south side
of Hill street. sixty feet north of Court
street. This property adjoins the Nc
Carthy buildings on the west and will
make a valuable addition to the already
large holdings of the company in this
part of the city. The lot will be i'm
proved with a four-story modern
apartment building at a cost of about
$4,000.
Hotel Figueroa Sold
Mrs. r. H. F. Variel has purchased
from a local syndicate through the
agency of Black Bros. for $4,000 the
southeast corner Of Figueroa and Six
teenth streets, having a frontage of
1921 feet on Sixteenth to an alley. On
the southerly part of the property is a
hotel building known as the Hotel
Figueroa, which was recently re-
opened under new management. The
syndicate referred to was composed of
II. ]. Woollacott, Newmark Bros, r. H.
Howell and Mrs. c. Ducommun. The
purchaser will hold the property as an
investment.