Los Angeles herald. [microfilm reel] (Los Angeles [Calif.]) 1900-1911, 1908-02-09
HAVE HOPE
IN LIBERAL
BANKING
REALTY MEN CONFIDENT OF A
NEW ERA
INQUIRY is STILL A STRONG
INDICATION
Contractors and Material Men Report
Great Preparations for a Busy
Building Season-condi-
ton of Market

The realty market saw few changes
during the past week. The inquiry and
transactions were about the same as
the preceding week, but there was a
distinct advance in the promotion OF
several large deals which have been
contemplated for months, but which
were interrupted by the financial strin-
gency.
The most encouraging feature Of the
realty market is the gradual return of
financial confidence. This was the
most desirable thing the market could
propose because in the absence of that
confidence the bottom almost fell out
of the market. The degrees by which
this confidence is being restored are not
apparent from day to day, but since
the first of the year are remarkable.
The first day of the present year
realty dealer who was negotiating a
large transaction was told by his client
that there was practically no nope OF
carving the transaction through. TWO
weeks later the client sent word that
he would take the subject up again,
and February he advised the dealer
that. if the financial situation improved
steadily, he would close the deal in
March. Realty dealers have noted the
great improvement in finances more
than any other class, for they had
difficult feat to perform in preventing
a stampede of sacrifices. Knowing that
Los Angeles realty has an intrinsic
value that cannot be diminished by the
fluctuations of finances they prevented
any injury to the market.
In this they were, as class, Dene-
factors of the whole community, for
the undiminished values and the alb
sence of any panicky condition have
been worth millions to Los Angeles.
Dealers report the inquiry for acre
age still heavy and many trades of city
property for small acreage in the sub
urps are being arranged. There is also
a big inquiry from out OF town Tor
acreage property for lnvestment pur-
poses and one firm has been asked by
an eastern capitalist to secure ranch
of any area up to 5000 acres. This
fastener expects to make this big
ranch his future home.
Promising Conditions
The retirement of scrip and the re-
turning liberality of the savings banks
are another source of stimulation to
dealers. While the savings banks have
not abandoned the requirement for
notice before withdrawal of balances
there are few that will not accommo-
date their customers, not only in the
narter of giving balances, but in loan
ing additions for building purposes.
So far no loan OF over $4,000 has been
considered. Realty dealers would not
be surprised if another week resulted
In the savings banks being restored to
the conditions antedating the panic.
Activity in building is another en-
couraging sign. Contractors ana ma
terial men report that there seems an
apnarent intent to exceed any previous
year in the matter of home building.
There is now little less cost to ma
terials and this is probably aiding the
movement. But it is really reaction
from the dullness of the past six
months and means that an era of home
building is at hand.
Realty sales during the week have
peen largely of domestic property and
many trades have been recorded. The
week. while active in prospects, was
not large in transactions.