Los Angeles herald., 1907-12-29
LARGE DEALS
IVDICA TIE
OPTIMISM
IMPORTANT SALES LEAD TO
SUCH CONCLUSION
NO DEPRECIATION OF VALUES
FOUND
Calamity HowIers Are Not Achieving
Much Success and Conditions Do
Not Civ Them Great En-
couragement

Activity in the real estate market has
not been very marked the past week
This is not an unexpected condition for
the Christmas season, when people
thoughts turn to things more altruistic
than deals in realty.
Several good sales were made, however,
in business property, notably the Coro-
nado apartments and the valuable corner
at Sixth and Olive. The latter is in a
section which is growing more important
with each passing month. The amount
Of the orsideration has not been made
public but judging from the prices paid
for frontage in that vicinity recently the
figures were no doubt somewhere around
$500 per foot To what use the corner
will be put is not known, but 1t will
of course be of a business character.
Mr. Ferris, the manager of the stock
company at the Auditorium, has stated
that he wants theater in that locality,
and though he has refused to state II he
has secured site 1t has been surlnised
that the structure which will be erected
at Sixth and Olive by the Pacific Mu-
tual Life Insurance company, the pur-
chaser of the property from e. 7. Earl,
will be planned to include theater on
the ground floor.
sale of this magnitude does not In
dicate a very alarming condition in Los
Angeles realty market. On the contrary
it is proof that the position which The
Herald has taken all through the present
financial furry is justified by the judg-
inent of those whose opinions are worth
while. When individuals who have large
interests at stake are willing to take
risks ON the future buyers in general
need have little fear of ultimate results
if ordinarily good judgment is exercised.
This latter remark is a platitude, but
it does not do any great harm to eni-
phasize platitude when conditions are
out of the ordinary. Sometimes plat
itude gets so close to ones mental eye
that it cannot be seen.
1t has been remarked frequently that
now is a good time to buy, because an
individual who happens to have ready
money at his command can find oppor-
tunities to play the part of the good
Samaritan to the man who has made an
investment too heavy to carry. This is
excellent advice to the man who stands
ready for the opportunity, but we cannot
help thinking that 1t shows a woeful lack
of confidence in Los Angeles realty val
ues. To one who has watched the sub
stantial growth of the city and surround
ing country during the past ten years
and understands the unquestioned rea-
sons, as found in climate and soil and
energy of the people, for the unprecedent-
ed progress the harping upon such
theme indicates a symptom of an aggra-
waited case of pessimism.
Calamity Howlers Not Wanted
Happily these representations of ca
lamity have thus far achieved no stand
ing in court, and if present confidence of
Southern Californians in land values in
Los Angeles and the tributary sections
are to be accepted as a criterion their
efforts are not likely to be crowned with
even modicum of success. Those who
may be pinched little are not letting
go, but are holding on with the grip of
grim death rather than make sacrifice.
They know that their holdings are as
good as gold They know that whatever
uncomfortable tightness may be felt in
Los Angeles is not peculiar to Los An
geles and that when the country in gen.
eral secures some relief they will come
into their own again.
There will be no disastrous letup in
realty activity. No one whose liver is
healthy expects a letup. Those who sit
back in their office chairs, resigned be-
cause there is considerable talk in the
east of depression, and quit making
liberal use of printers ink and thus hide
their light under a bushel will reap a
reward proportioned to their efforts. They
will undoubtedly get about what they are
looking fora dearth of customers. 1t is
!. q rule among merchants to increase the
attractiveness of their displays when
business shows signs of decrease. In
times past it was competition that was
the life of trade, but now it is advertising.
If you will look over the advertising col
umns of the daily papers you will easily
find the firms who are keeping up the
pace which counts.
1t is not our intention in what we have
said here to consider selfish ends-selfish
so far as The Herald is concerned; we
are interested in the future of the Los
Angeles real estate market and believe
we are justified in expressing a thought
ness policy.