Los Angeles herald., 1908-05-03
MORE MONEY FOR
GOOD INVESTORS
REAL ESTATE TRANSACTIONS
LARGEST IN MONTHS
School Bonds Throughout State Are
Being Observation-Disclosures Hundred
Miles of New Roads for
This County

Bank clearings for Los Angeles dur
ing April were SAB, All, 800. These fig
ures show the largest monthly total o.
any period this year and bear out tins
statement that business is gradually
and substantially improving. Real es-
tate is the prime factor IN business
consequently the increased bank clear
ings mark an increase in realty. The
advance in bank clearings over Marcf
amounts to $2,277,S12.
Another important feature in rea
estate is that during April there were
more transactions than for any month
In the past half year. The monthly
bulletin of Fielding j. Stilson company
issued yesterday, shows that during
April there was a daily average of 1Sl
transfers, IA trust deeds, SO mortgages
and 36 releases. These averages are
larger than for any of the preceding
six months. In October, for instance
there was daily average of 1853 trans
fers, trust deeds, As mortgages and
u releases. The totals for the month OF
April were Abs transfers, 800 trust
deeds, 1543 mortgages and 935 releases
The amount involved was $2,S32,039
One of the unfailing signs of better
ment in general conditions is an i'm
provement i'm the demand for bonds,
particularly those of a high-grade ma
ture.
said to have assumed anything like the
proportions of q year ago, 1t is un-
questionably gaining strength, and
gives evidence of growing desire on
the part of the people generally to
withdraw their funds from safe de-
posit boxes and invest them in securi-
ties of undoubted merit.
OF interest in this connection is the
sale just made by the supervisors of
$150,000 of Pasadena school bonds at a
premium of $211. There were three
bidders for the issue, and the award
was made to j. H. Adams & Co. The
bonds bear interest at the rate of 4
per cent a year.
1t Is true the premium paid was not
large, but considering the fact that only
short time ago the supervisors found
Ii difficult to market one or two issues
of a similar nature, that three large
houses were anxious to obtain these
bonds, and that any premiums at all
were offered, is a source of encourage
ment.
School Bonds Are Subscribed
School bonds are being issued in
every section of Southern California
and are being eagerly taken by local
investors. Bonds have recently been
voted In San Bernardino and Riverside
counties, and other counties are max
ing preparations for placing the matter
before the citizens for vote. Ontario
is soon TO vote on a $65,000 bond issue.
The low colonist rates from Missis-
sippi and Missouri points terminated
at midnight of Thursday. and as the
tickets allow five days for the trip,
the last of the homeseekers will not
arrive here until May 8.
Summer rates, which have already
been placed in effect, are different from
the colonist rates, which are solely for
homeseekers.
All of the railroads are preparing for
the last days of the rush and extra
equipment is being provided. Special
trains viii be run during the last days
of the rush, and 1t Is estimated that
more than 5000 will cope in the next
two days.
Since the low rates were inaugurated
on March / 1t is estimated that more
than $4,000 colonists have arrived.
One of the greatest benefits that real
estate In Los Angeles country could
ever receive will be the vast improve
ments of highways outlined for the
near future.
With their field work all completed,
the county highway commissioners are
bending every effort to prepare for pre-
sentation to the board of supervisors
their report recommending the building
of about 300 miles of permanent ma
cadam roads, outlining a system of
highways that will give Los Angeles
county the best roads In the country.
$4,000 for New Roads
This report, considering the volume
OF work that must be done in the way
of estimates and road plans. can not
be ready before May is, and possibly
will be delayed two weeks later than
that, but the highways recommended
f..x.
alterations. are practically decided
upon.
After the supervisors have received
the report they will submit to the peo-
pie the question of voting an issue of
$4,000, 900 bonds, more or less. necessary
to carry out the plans the highway
commission will recommend.
Subject to change in details, the
schedule of roads which the commits
sioners will recommend for permanent
improvements are:
Two great boulevards, the 'foothill,"
running fifty-five miles. from Clare
mont to Santa Monica by way of Pasa-
dena, Eagle Rock valley and Holly
wood, and the "valley boulevard"
from Lamanda Park to Long Beach
through San Gabriel, Rivera and Dow
ney.
Five beach boulevards-To San Pedro
and Wilmington; to Long Beach via
Compton; to Santa Monica via VIII
shire boulevard and the Soldiers home:
to Ocean Park and Venice on Washing
ton and Adams streets; to Redondo via
Inglewood.
Besides these there are two connect
ing beach roads, one from Redondo to
San Pedro, running near Los Palos |
Verdes and the other running from
Long Beach out Anaheim road connect
ing with the main road to Satna Ana.
1t is proposed to keep the proposed |
bond issue within the $3,000000 mark,
and to do this the length of the roads |
cannot exceed 800 miles, approximately. |
To Be Macadamized
Every road will be of macadam.
In general, width of fifty feet will /
be maintained although the Long |
Beach boulevard to Santa Monica will |
be maintained at it's present width of
100 feet
The stone filing will occupy a space
In the center of the highways sixteen
feet wide and from six to eight inches
deep, covered with sand and gravel
possibly treated to a surface oiling and
all rolled with 15-ton roller.
The macadam center will be sup
ported on each side by shoulder of
an average width of seven feet, rolled I
and oiled, and the road for the entire
width of fifty feet will be crowned,
rolled and treated to make an unex-
celled highway.
Bridges, which will form an import