Los Angeles herald., 1907-06-02
REALTY DEALERS
PREDICT ACTIVITY
APPARENT QUIETNESS GOOD
FOR THE FUTURE
Real Estate Values Remain Firm.
Owners Confident of Prosperous
Fall and Winter Season.
Investors Are Busy

All of the thoughtful real estate men
OIL Los Angeles are agreed that the
present apparent lull in the realty mar
ket will be a good thing in the end.
Inc present Is naturally the quiet sea-
son, chiefly because the active dealers
are arranging for the usual summer
vacation period. Many will go to the
mountains or the coast for the hot
months, but all will be in close touch
with the local field and will be ready
10 take UP and close any good PROPOSE
tion submitted. The year has rounded
up handsomely, and those agencies
who do things on a big scale have good
balances in the banks to their credit
and the small dealers are feeling good.
Ihey nave earned a rest and they have
the coin to enjoy all the luxuries of
life either at the mountain or coast re-
sorts. where they may renew their en-
erg1es and equip themselves for the
opening of the fall season IN the realty
field.
Quite number of important deals.
noted elsewhere, were closed during the
past week, indicating fairly active
market, with investors busy picking
up property that looks good to the
capitalists satisfied with income pro-
ducers. Included in late sales was the
transfer of the Hotel CARING property.
located at 420 West Second street on
the south side of the street, near Olive.
The property consists of lot 40x120
feet in size, improved with a substan-
tial frame building, which is three
stories in height in front and four
stories high in the rear, because of
the slope of the hillside. M. P. Myers
transferred to A. j. Kohl for the re-
ported consideration of So, 800. The
building rents for $3.50 a month, but
a long lease is said to have been
made. which will bring the rental up
to $4,000 year. At the above reported
consideration the price paid for the
property was at the rate of $S12 a front
foot. The sale was closed through w.
A. Varcoe SS Co.
The members of the Los Angeles
realty board are Robert Mitchell, Leon
ard Merrill, L. L. Bowen, w. H. Cham
berlin, Byron Erkenbrecker, John T.
Griffith, w. w. Mines, Gilbert Wright
and ]. V. Baldwin, the last three
named being new members Of the
board, who were elected recently.
The board will send a large delega-
tion to the annual convention of the
State Realty federation, which will be
held in San Jose June 6, Z and 8. The
committee which is arranging for the
trip is composed of A. E. Pomeroy,
Joseph R. Lotus and Robert Mitchell.
The party will leave at o'clock next
Wednesday afternoon over the coast
line for the north. The meeting this
year will be one of unusual interest. A
large attendance is assured, and action
will be taken on several matters of
Importance to real estate men all over
the state. The Torrens system of land
transfers is one of the subjects on the
program and the discussion of this will
- la lo,yI Tod dxuo1 10 q I-xy
of the San Francisco realty board. Eff
forts will be made at this meeting to
devise some practical means for put
ting this system into effect in Califor-
MIA. The colonization committee ap-
appointed last year also will make its
report. This committee has done ef-
fective work in the last few months,
having obtained several concessions
from the railroads.
Secretary Burdett Of the Los An
geles board is executive secretary of
the state federation and julius r. Black
is one of the directors.
1t is reported that c. D. Beebe, presi-
dent of the Syracuse, N. Y, street rail-
way company, is at the head of syn
dicate that has purchased the old site
of the First Presbyterian church of
Pasadena. The price paid was $107, 900.
Other members of the syndicate are
Victor Marsh and D. M. Linnard. The
property has frontage of 145 feet on
Colorado street and is 800 feet deep. 1t
is understood to be the intention of the
new owners to subdivide the property.
The directors of Huntington Park
association, Riverside, have voted to
donate the proposed Baptist college a
twenty-acre site at the base of Rubi-
doux mountain, between Twelfth and
Fourteenth streets. A committee COM
posed of Captain M. ]. Daniels, A. NJ
Younglove and H. F. Grout has been
appointed by the chamber of commerce
to arrange for the entertainment of the
Baptist college commission of fifteen
which will arrive there on June to