Los Angeles herald., 1907-06-14
REAL ESTATE
MEN FORESEE
ACTIVE TIMES
Aqueduct Success Is
Stimulus
Many Important Deals Go Through
and Building viii Proceed with
RedoubIed Veor in Sum.
mer Months

mer Months
The permanent settlement of the
water supply question for Los An
geles so emphatically pronounced by
the vote of the people on Wednesday
was hailed with much satisfaction by
the members of the real estate fra
ternity, who fully appreciate the full
value of the verdict as expressed at
the polls.
The steadily growing inadequacy Of
the water supply, with the rapid growth
of Los Angeles, and the possible de-
crease in the rainfall have been a
menace, in measure, to the develop
ment of the city. Quite frequently
realty agents have been confronted
with predictions Of a drouth or the
of the water flow from the
San Fernando valley.
No wonder the real estate agents
and all citizens interested in the fur
ther expansion of Los Angeles were
in a happy frame of mind yesterday.
The almost unanimous Endorsement of
the proposition to issue bonds to the
amount of $23,000000 to build the
aqueduct from Owens river to bring
the mountain water to Los Angeles in
unlimited supply electrified the entire
community, and as business and pro-
fessional men met during the day in
the stores, banks, offices and clubs,
congratulations were OF the warTr1est
character. Hearty greetings and
smiles were the order of the day, and
everybody felt good over the glorious
result at the polls.
Proud of Their City
The restoration of confidence in the
bright future of Los Angeles, the as
surance of continued business activity,
the further expansion of building op-
erations in the business, Industrial and
residence sections, the belief that
money will be more plentiful and cas-
Ter for investment and loan PROPOSE
tions, in addition to the knowledge
that throughout the east the word has
gone forth by wire and mail that Los
Angeles is progressive in making am
pie provision for the future-all these
points of Importance served to create
a feeling of pride and satisfaction that
extended to all sections of the city.
Black Brothers Have Big Deals
1.-THE result of the water bond cleo
tion has had a very Frightening ef-
feet upon the real estate market"
said julius r. Black of Black Bros.
Several deals of Importance that have
been on our books have been held up
on account of the election, but now
that water is to be provided in great
abundance from the Owens river, we
have every reason to believe that the
deals will be closed early in the month
of July. Among some of the tranSac-
tions pending may be mentioned one
for $125,000, another for SOL, 900 and an
other for $65,0O0."
Mr.. Silent Is Enthusiastic
at am very much pleased that the
question of an unlimited supply of
water for Los Angeles and the subur-
ban section has been settled by voting
the bonds" said Edward d. Silent of
e. D. Silent & Co.
I'VE are now entering. upon great
era of prosperity, the greatest, I be-
lieve, in the history of the city. The
question of sufficient water supply has
always been a menace to Los Ange-
les. Now the question is settled for
good, and undoubtedly the entire COM
munity will experience a period of
that will meet the expecta-
tions of the most enthusiastic of our
residents.
1--WE have had number of trans
actions in city property held up on
account of the election, but now that
the bonds have been voted upon fav-
orably and by such a decisive major
ity, all OF the deals will be closed
Pending Deals Closed
"Many purchasers of city and country
1 believe, were really wait
said w. B. Merwin of w. B. Merwin
& Co.
Numerous deals that have been
will now be closed. Among
others we have one for $4S,0 900 that will
go through without any doubt, and the
market for the summer season will be
quite active"
Will Stimulate Commerce
w. I. Hollingsworth of w. /. Eol-
lingsworth & Co. said: 1.-THE voting of
the water bonds will give the general
public vastly more confidence in the
future of Los Angeles, creating bet
ter feeling all around, with the assur-
ance of an abundant water supply. The
result generally will be beneficial, both
in the realty market and in COM
merce."
Mr.. Parish Sees Prosperity
o. e. Parish Of Mines & Parish:
'The wt,ter question has been settled
for Los Angeles by the
bond election, as well as fixing perma-
nently the value of all property and the
business stability of the city.
"The election makes everything
stronger, giving the people more con-
fidence and assurance for the future
and gives us something good to talk
about. Now we will go ahead rapidly
and make Los Angeles another Chi
cago. Pending deals will be closed up
speedily "
Active Summer Is Predicted
1--WE should have very active sum
ner in the realty market" said e. F.
Wright of Wright & Calender "The
voting of the bonds was decided move
n the right direction. We had to have
water in abundance at any cost, and
we coulu not take it from our neigh
oors. Los Angeles will now go ahead
oy leaps and bounds"
Predicts Greater Activity
L. L. Bowen, acting president of the
Los Angeles Realty board: 1.-THE
water bond election was of the great
est Importance to Los Angeles and
Southern California, and the result is
most satisfactory to all business in
-erests.