Los Angeles herald., 1908-07-12
BIG SALES OPEN
UP FISCAL YEAR
TWELVE MONTHS OF PROFIT
IN REAL ESTATE
GOOD ROADS PROJECT GROWS IN
PRESTIGE
coIonIsts' Rates Are Established by
Santa Fe and Other Roads
viii Follow-WhoIe
Town Is Sold

During the week there was recorded
q number Of good sales in Los Angeles
property, involving thousands OF dol
lars. There was the usual fail. run OF
small sales, running from $1,000 to $lO,
O00 In close in property the best SAFE
was that of the old Pacific Mutual Life
Insurance company's building, which
was sold for a great advance over the
last sale of the same building several
months ago. This is the third time the
old Pacific Mutual building has been
sold since It was built. Each sale has
been for an advance in price. In
suburban property one of the best sales
in the history of the community was
contaminated last week. The Carlos
Heights subdivision was the property
in question and sold to local Syndi-
cate for much over 100000 This con-
Germ is to place the property on the
market in lots, and In this way build
ND another beautiful district with fine
residences. AS a whole, the week was
one Of activity in real estate and indi-
Gates that the new fiscal year is to be
one of interest and profit to the real
estate people.
The good roads project is growing in
interest and prestige. Throughout
Southern California the subject of good
roads is being kept in the fore and
satisfactory results are bound to result.
There is no standard by which to esti-
mate the value highly improved high
ways would be to the community. To
the south of Los Angeles, in fact the
territory between here and San Diego.
possesses much unimproved and arid
land, or partly improved and irrigated
land, which would doubtless be brought
up to the best standard of cultivation
with the advent of good roads and all
that goes with such an enterprise.
What Is said of that section may be
said Of almost every other in the state.
CoIonIsts' Rates Next Week
While it was the intention of the
Southern Pacific and Salt Lake roads
TO abolish the customary colonists
rates to California during September
and October from points east of the
Missouri river, the action of the Santa
Fe in maintaining the rates will induce
the other roads to continue the prac-
tice.
1t was the custom of all the roads
to maintain colonist rates west of the
Missouri, but as connecting points on
the Union Pacific and Southern Pacific
east of the Missouri declined to CO.
operate and accept the rates, all the
roads except the Santa Fe decided to
abolish them.
The colonists' rates in the past have
proved an important element in the
development of Southern California.
Their abolition at this time would re-
tard the progress of many of the grow
ing industries of the state.
As the Santa Fe has taken the ini-
tiative and established a rate between
Kansas City and Chicago the flow Of
settlers from the east during the
months of September and October will
continue.
Rental properties in the northwest
part of the city are growing in demand.
Tbf8 is Indicated hV a cash sale last
week of the frame apartment house at
422 to 42S North Beaudry avenue. The
sale was made by J. J. Donovan to S.
Susman. A four-room cottage was in
cluded in the deal, the total price being
$4,000.
Transfers $500 Acres
The Central Land company of Los
Angeles has bought whole town in
Tulare county. The place Is called
Upton. The deal included transfer of
$500 acres. The townsite contains 1900
lots and is located twelve miles east
of Corcoran and eleven miles south
from Tulare. There is a brick hotel
and q creamery in the town. Small
farm sales are to be the chief feature
of the project.
Several business blocks are being
erected at Hollywood, among the later
ones being at Fourth and San Fer
nando streets for John Law and J. B.
Brokaw. Both floors are said to have
been already leased. Numerous resi-
dences are under way and sales are
active in every section. 2. Boag has
sold to s. Copeland a residence at Sum-
set and Iowa streets for $1,000 and two
lots in the Childs Heights tract were
sold to Mrs. NJ. T. Folsom for $3.50 each,
the buyer TO build residence. George
H. Stoll is preparing to erect mag
nificent residence of stone and wood to
cost close to $4,000.