Los Angeles herald., 1906-05-20
CASH ABUNDANT
FOR EXPANSION
REALTY DEALERS AND BANK.
ERS IN GOOD SPIRITS
Outlook Bright In Los Angeles for
Great Activity In All Lines Of
Business = Investment and
Home Purchases

Conditions in the Los Angeles real
estate field continue to improve and
realty dealers generally are actively
engaged in negotiating important deals.
There is no scarcity of capital to ham
die big propositions. Bankers look on
the local field in real estate and other
lines of business as being in the most
satisfactory condition, and as there is
scads Of cash in the local banks ope-
rators who handle only large deals are
In the best of spirits, and they predict
great activity in realty in the city and
at the coast towns.
There has been no decrease in values
while many sales have been closed at a
handsome profit.
Secretary Frank Virgins of the
chamber of commerce has departed for
Atlantic City, N. j., and New York to
tell the truth about Los Angeles and
Southern California. Look out for in
creased tourist travel from the Atlantic
to the Pacific coast.
The officers and members of the Los
Angeles Realty board are active in
organizing for the purpose of properly
advertising Los Angeles and Southern
California in the east. At the last
meeting of the local board Walter e.
Brown, w. G. Griffith and Gilbert
Wright were appointed to confer with a
committee of the chamber of commerce
on the advertising proposition. An
other conference is to be held in the
near future, not only with the cham
ber of commerce, but also with COM
mittees representing the Merchants
and Manufacturers association and
the Municipal league The chief work
of the committees will be to devise
ways and means of raising a fund of
something like $50OO0 to be used for
advertising purposes.
A. e. Halsey has sold to the Con-
soldated Realty company the south
west corner of Fourteenth and Hill
streets a lot 60x120 feet, for $4,000. The
lot was purchased by the Consolidated
Realty company as an investment and
will be improved shortly.
This company was formed last fall
for the purpose of buying real estate
and improving same and out of rents
pay to stockholders their dividends.
This makes the third piece of property
purchased by the company. The first
was 40 feet on Seventh street, between
Grand and Olive, for $1125 a, foot last
November, and $1750 a foot has been
refused for it. The second was 65 feet
on Ninth street just west of the north
west corner of Ninth for $3.50 a foot;
$1,000 a foot has been refused for this
and the present purchase at Fourteenth
and Hill is considered the best for the
price of all.
The directors believe that Hill street
is going to be the future Fifth avenue
of Los Angeles, and that property on
this street will double in value quicker
than on any other street and thus in
crease the value of the company's
stock, the par value of which is $100 a
share. The book value today is 1854 a
share. Stock is selling at $40 a share
for cash and SIG on option contracts
paying $500 a month until paid.
At the next meeting of directors
valuation will be raised to $120 or S125
a share Although but six months old
it has made a profit of so per cent. This
showing is due to the untiring efforts
of Messrs. d. X. Trask, president; D.
A. Hamburger vice president; Frank
lin Jordan, secretary; H. w. Hellman,
treasurer, and the, board of directors,
who are most prominent in financial
affairs.
The company is mutual in so far as
the profits are distributed equally
among the stockholders, and their ex-
penses today are less than $3.50 month.
Robert Marsh & Co. have sold for
Mrs Pearl c.. Arbuckle to J. F. Hall
the lot on the northwest corner of Sixth
street and Grand avenue, 47X120 feet,
for 100000. The improvement is one
story brick. with monthly income of
$3.50. Within year a handsome six
story building will be erected on the
lot. 1t is one of the best corners on
Sixth street.
Dudley Kavanaugh has sold to Fred
r. Miner. through the agency of Carl
Pauly, lot 5Ox12O feet on the east side
of Olive street, between Pico and Four
teenth street, improved with a nine
room residence. Consideration, $3.50
j. S. Newman has hold to DIR. Isaac
Saylin, through the agency of Black
Bros, lot 110x1O4 feet on the south
east corner of San Pedro and Fourth
streets, with improvements of nominal
value. Consideration, $48,000. Pur-
chased as an investment.
An eastern investor has paid Charles
Bunnell $22, 200, through Wright & CAL
ender, for the three-story apartment
house on the west side of Olive street,
between Third and Fourth streets. The
lot is ,S2x165 feet. The rental income is
$160 a month.
The lot on the corner of Cherry and
Eighteenth streets. 169X237 feet, has
been sold for $4,000 to local investors.
This property was bought in 1897 by j.
A. Graves, vice president of the Farm
ers and Merchants National bank for
$4,000.
j. f. Jack has sold to r. II. Rowley
6Ox125 feet on the east side of Flower
street, north of Eighth street, for $24.-
OO0 The property, which is improved
with a small cottage of nominal value,
is held as an investment. w, ii. Obear
was the agent.
Andrew McNally has paid $11 ,25O for
a lot 90x1S5 feet on the north side Of
Ninth street. west of Santa Fe street,
and will erect brick warehouse. The
lot was sold by the Crippen Investment
company through Frank Lerch.
II. p. Ernst reports that he has sold
for Il. c.. Luentze to Henry E. Gunther
a lot 60x250 feet at 1886 San Julian
street, the lot extending through from
san Julian to San Pedro street. the con-
slderation being $4,000. The lot is inn