Los Angeles herald., 1908-09-06
LOS ANGELES IS
SECOND TO NONE
BUILDING AND REAL ESTATE
FIGURES CLIMB HIGH
ONE GREAT FIRM DOUBLES EVEN
ITS RECORD MONTH
Net Earnings for August Run Over
$4,000, as Against $4,000
for JuIy-Facts Show
Progress
BY JAMES wYNKOoP,
Real Estate Editor The Herald

Perhaps in no other city in the
United States has there been during
the past year so much actual building
and real estate progress as In Los An
geles. A glance shows it and the build
ing permits and records of transfer
prove it. AS an illustration of this re-
markable advance one needs but turn
to the accomplishments of one OF the
city's great real estate institutions
The Los Angeles Investment company
which has been in business forty-two
years, broke all previous records dur
ing August, with net earnings FOR the
month of $4,000.
This company, in making such rec
ord, doubled it's earnings over July,
which held the record to date, with
earnings amounting to $4,000.
To the experienced person these
figures mean more than the single sue
cess of any one real estate lnstltu-
tion. They show beyond a DOUBT tnat
the stability and destiny OF Los An
Reles real estate are secure. When one
firm can double It's already large earn
tngs in a quiet summer month and es-
tablish the record of forty-tWo years
standing in the community, 1t is plain
that the Los Angeles of the future Is
to surpass the Los Angeles of the
past and present with all its splendld
growth and worldwide popularity
To comment upon the future great
ness of Los Angeles seems waste OF
words, and yet there are some rev, OF
course, who will not believe 1t, even
when the facts are given in round num-
bers.
Makes Great Preparations
But to proceed with the comparison
of the Los Angeles Investment COM
pany with present conditions In the
real estate field. This company mas
realized for some time that Wnen 1ull M
activity is resumed throughout the
country the boom tide will sweep over
Southern California, and especially
Los Angeles. In order to be prepared
for this great advance to the southWeSt
the company Increased it's capital ana
purchased two big tracts. and has put
recently made arrangements to puild
over 1000 new houses-1425 houses nave
been built and sold to date. The num-
ber of lots comprised in the TWO tracts
purchased is 1125.
More men are now employed by the
company than ever before, ana the
number is being Increased at the rate
of from five to ten day. At present
$50 employees are in the service. =.
Work is. progressing rapidly In all
sections controlled by this company
and President Charles A. Elder says
there is not a finished house unsold.
eve have contracts ahead to keep us
busy for six months" said Elder yes
terday. "Our company is cooperative
and every employe is stockholder.
Stock to the value of over $l,50O, 00O is
owned by them, leaving about $60O,0O0
for outside investors"
Strength Lies in Cooperation
The cooperative feature is said to be
one of the main causes for this COM
pany's remarkable success. 1t is re-
corded that no stockholder has ever
lost a cent by being compelled to sell,
even during the late panic.
The monthly report which has Just
been issued, shows that the net profits
from all sources for August were $S2
O8S: net profits from all sources for past
SIX months were $254336; net profits
since beginning of panic, less than a
wear ago, were $362905. The f1ftieth
quarterly cash dividend amounted to
SAC. .561 and was paid last month. This
makes $168,744 in cash dividends PAID
10 stockholders since the panic start
ed. The total dividends to date amount
TO 544 per cent, an average of AZ per
cent a year. The total number of
stockholders is 1874.
The Los Angeles Investment com
pany has Just published new booklet
of bungalows, showing over 100 homes
built by its own architects. The
growth of the College tract is especially
interesting, the cuts showing handsome
homes and bungalows on what year
ago was an alfalfa field. The book.
which offers many suggestions TO the
builder. is in the form of a souvenir,
and is given away to applicants.
Another evidence of progress In Los
Angeles comes from the building de-
partment. Permits have been issued
for four $4,000 houses of eight rooms
and two stories each to be built in one
block on King street. The permits
were taken out by the Anderson Mill
company.