Los Angeles herald., 1906-06-24


$2,15S, 565l Total for the month will
exceed $2,500,00O. Sure thing, Los An
geles is growing-magnificently.
All Los Angeles banks are we'll sup
piled with cash and depositors increase
in number each day. Ample funds are
in the vaults of the national banks,
savings and other banks to meet all
requirements of the largest city on the
Pacific coast.
The real estate market is active and
values are advancing in every direc-
tion. The sales of the past week given
elsewhere in these columns indicate
that homeseekers are multiplying and
that investors regard Los Angeles and
suburbs the most inviting field for the
use of capital.
The feature of the progress of i'm
provements and cost of business struc-
lures in Los Angeles during the past
week was the granting of a permit to
the Hamburger Realty and Trust COM
pany for the immediate erection of
the Greater Hamburger Department
Store on the southwest corner Of
Eighth and Broadway. The valuation
stated in the permit was 81 100000, the
fee being 1921, both the largest In the
history of the city. The great Ham
burger building which will afford over
100000 square feet of floor space, will
be seven stories, with deep basement
and a, sub-basement under part of the
building. The frontage on Broadway
will be 365k feet, on Eighth street 160
feet, on Hill street 120 feet In addi-
tion to the many departments for the
transaction of the Hamburger bust
ness there are provided in the plans
gorgeous parlors, retiring rooms, read
ing and writing rooms, a nursery, an
emergency hospital with physician,
trained nurses and maids always in
attendance, escators or moving stair
ways, elevators and a great entertain
ment hall, besides a roof garden for
the benefit OF the public. The firm has
made provision for the manufacture of
many lines of goods in the huge build
ing.
The sale of lot 42x155 feet on the
east side of Hill street, between Fourth
and Fifth streets, by the Mojave River
company to w. ]. Logan for $4,000, or
at the rate of $4,000 a front foot, is be-
lieved to be in the interest of the Los
Angeles-Pacific Railway company. 1t
is known that the company desires bet
ter passenger station facilities, and the
requirement of the Hill street frontage
for connection with the frontage on
Fourth street, between Hill and Broad
way, provides ample space for the ac-
commodation of the public and tue
handling of the company business. Two
thousand dollars a foot is the high
record price for frontage on Hill street.
The plans for a double track tunnel
from First street on Hill through to
Sunset boulevard for the diversion of
the Hollywood and Colegrove cars from
Spring street roundabout route, will
call for passenger station on Hill
street.
Ben White one of the we'll known
real estate dealers, states in an open
ado ress: What we should do to make
Loi, Angeles further great and promi-
nent is to lay before the readers of
the United States facts and figures, as
we know them; those figures of our
resources that stand for thrift, for
prosperity and for wealth-making. We
should speak of our great resources, of
our great back country and of our in
comparable climate. These features
are the essentials of our growth, and
the factors upon which our present
prosperity is based. 1t seems to me
that a campaign OF instruction upon
these lines would outdiStance all 9TH
erS.
I'm the fiscal year 1904-05 the terri
tory continguous to Los Angeles pro-
duced $105, 100000 in wealth. This i'll
cludes all items of interest from the
60, 900 carloads of citrus fruits to the
S5, 100000 pounds of beet sugar; also
the 100000 gallons of olive oil and the
$3.50, 900 pounds of butter. This rep
resents a per capita wealth of $42C
based on 250,OO0 population. Where can
anyone find it's equal in a new country
like our own, and where can the figures
be duplicated when a single part of
any state is taken in comparison?
I'm no country on earth can the la
boring man become a house owner so
easily as here. Homes that cost $4500
to $4,000 in the east and north, that
are built to Withstand cold and bliz-
yards can be erected here for $2500 to
$4,000. Every convenience that the
wealthier class can command is within
the reach of the artisan. This is cli-
mate pure and simple.
what the back country is capable of
is in its infancy. Thousands of acres
are still to be titled and to be opened,
and to be reached by that potent power
irrigation. When these thousands
and thousands of vacant acres that are
still a part of the public domain are
reduced to matchmaking and added
to the present column of revenue-pro-
ducing property the question resolves
itself into one of how much the per
capita wealth will then be. This is not
idle speculation, nor specializing with
the conditions. 1t is simply facts"
Included in the sales in the in
dustrial section during the past week
was the transfer of the e. l.. Blanch-
ard property on the north side of East
First street, just east of Vignes street,
to the Summers Paint company for $15,-
900. The lot is 50x138 feet, with nominal
Improvements. w. b. Merwin & Co.
negotiated the deal. The purchasers
win erect a substantial building on the
lot in which to conduct the paint busi-
ness. Mrs. Summers, the "oil queen"
is the principal stockholder of the
company,
Through A. T. Jergins & Co., the
Ionia fats lot S0x165 feet have been
sold by Mrs. Laura E. Dobson to DR..
w. A. Lamb for 1880. The building
is located at 749 South Flower street.
The monthly income is $21O.
Eighty acres of the Smith estate,
lying west of Crenshaw boulevard and
extending from Eighth to Pico street,
l.xr Ni.sl