Los Angeles herald., 1906-09-09
WEALTH OF PRODUCERS IN
TRADE CHANNELS
Products Of Southwest Bring Millions
to Los Angeles-Heavy Real
Estate Deals--Valuable OPP
tlons Secured


going about with all kinds of coin in
their possession. The bankers and
merchants are the first to feel the
effects of a successful fruit producing
year. The number and size of de-
posits increase, and the merchants find
1t easy to make sales of supplies for the
home. Millions of dollars have come
from the far east in exchange for the
products of Southern California, and
vast sums are brought here constantly
from the mining section of the Golden
state, Arizona, Nevada and Mexico.
1T is rare thing to discover lack of
funds in Los Angeles for the advance
ment of any legitimate proposition. All
1t requires is a good thing, with the
disposition to act, in person or through
a combination. and the money is avail
able to bring the proposition to the
front and push it on to profit for all
interested
The real estate situation in Los An
geleS was never in a better condition.
The activity all summer, following the
Sam Francisco disaster, has been re-
markable. Everything is coming our
way. Los Angeles, now the largest city
on the coast in population, is growing
with amazing rapdity. and the eXpan-
sion calls for increased business 'front.'
age. Now all of the largest stores are
so densely crowded from day to day
tf1dC patrons OItRn experience great III
convenience in making purchases
leisurely and satisfactorily. More stores
and larger stores will be supplied. The
people flock to Los Angeles from every
direction, coming on the steam and
electric cars, and the crowds on the
business thoroughfares are so thick at
times that paint is rubbed off the store
fronts and part of the street on each
side is used by impatient pedestrians"
Real estate agencies conducting
rental agencies state that there is per-
sistent and increasing inquiry for
apartments and cottages by hundreds
of strangers. Active inquiry COM
menced three weeks ago, and many of
the choicest locations have been leased.
Quite number of the seekers for
homes formerly resided in San Fran
cisc, but the major portion came from
eastern states.
The possible sale of the Vogel block,
on the southwest corner Of Broadway
and Seventh street, has been topic of
lively discussion among business men
and realty operators during the past
week. 1t Is known that w. I. Hollings-
worth has an option on the property.
Rumors that the corner has been sold
lack confirmation. Several parties are
negotiating for the property. but as
yet there has been no sale. The value
of the corner is estimated at $500, 900 to
$500, 900.
1T is stated that the Prenzlauer Bros.
have secured an option on the Palms
hotel property, on the west side of
Broadway, adjoining the Norton block.
just south of Sixth street. Options are
also held by the same party on frontage
for a huge department. store planned to
extend through to Hill street and occu-
pying the old Y NJ c.. A. property
Certain parties from Michigan have
been figuring on putting up big store
building on the Palms lot.
Arthur Crosse & Co. also hold an
option on valuable business frontage
near the corner of Seventh and Broad
way. The gentlemen state that in the
event of a sale splendid business block
will be erected.
Several important deals in business
property were closed last week as the
result of somewhat extended negotia-
tions.
The lot on the southeast corner of
Seventh and Olive streets, 52x133 feet
to an alley. improved with two-story
brick, was sold by August Schmidt to
M. l.. Breedove, through W. B. Mer-
win and r. A. Rowan & Co., for $155, 900.
The frontage value is nearly $4,000 a
foot.
What is regarded as a prize invest
ment purchase was closed Wednesday
through the agency of Black Bros.
The John ]. Thornton lot, 621Ax115 feet,
vacant on the northwest corner of
Seventh and Flower streets, was pur-
chased by e. H. Antoine of Pittsburg,
Pa, the considerable being s99. $50, at
the rate of $500 front foot. Mr.. An
tone is heavily interested in the Ameri-
can Bridge company and has been
identified with a number of real estate
deals in Los Angeles.
Sales of future industrial and busi-
ness frontage on the east side aggre-
eating nearly 100000 in value, have
been closed recently by f. j. Steel.
The property is located north of Eighth
street, on Towne, Ruth, Ceres and
Gladys avenues. Mr.. Steel Is one of the
chief husters in the realty field and is
q good judge of values. He states that
inquiry for investment propositions
have been frequent since the middle of
August, and that the outlook for an
exceptionally prosperous season in real
estate was never brighter than at pres
ent. 1t has come to his knowledge that
quite a number of buyers and renters
have come from San Francisco, and
that many of the people now receiving
insurance money are purchasing homes
or investing in Los Angeles property
The Palm Petsch Home Place, on the
east side of South Figueroa street. be-
tween Twenty-flrst and Twenty
streets, owned and occupied by Mrs.
Eugene d. Porter. has been sold for
$35 900 to a local investor. The lot is
15Ox1S0 feet, The property is one of
the show places i'm Los Angeles. For
many years the grounds surrounding
the residence have been noted for their
beautiful palms. There are seventy of
them each of a different species, and
some individual specimens are valued
as high as $1,000 The grounds were laid
out a couple of decades ago by MIR.
Petsch who imported the palms from
all parts Of the world, There Is said to
be no finer collection in Southern Cali
fornia. On a number of occasions
famous botanists have come from
Europe and eastern cities to make a
study of the trees.
DR. r. c. Bogart has sold to eastern
parties, through Arthur Crosse & Co,
b lot 120xi55 feet on the corner OF
Third and Eona SfrQafs iuct x.yoaf of