Los Angeles herald., 1908-03-08
REALTY MEN
REJOICE AT
PROSPECTS
NUMEROUS BIG TRANSACTIONS
ARE CLOSED
MORE MONEY FOR INVESTMENTS
TO COME
Demand or Small Farms Is unprece-
Demand for Small Farms Is unpreee-
Being Made to subdlvlde
Large Tracts

announcement anu iSJoAShS FA
vail over the entire field of real estate.
Owing to numerous big deals peins
brought to a successful close during
the week assurance is given of most
healthy tone to the market. ACTIVITY
was more pronounced in the sale OF
country property, but the TRANSACTIONS
made in city lots and buildings were
large, showing a steady increase OF bus
mess. The fact that money is now
easier gives confidence to the investor
and as real estate offers the suress
investment and steadiest returns
money that was tied up is being turned
into city and country property.
The real estate men are expecting
more money to be invested in real es-
tate, commencing next month when the
savings banks make the first payments
en- time deposits, for which six months
notice Of withdrawal was given. The
banks, however, have no cause Tor
complaint, as confidence is being rap
idly restored and many new depositors
are being listed daily. One of the larg-
est banking institutions in the city dur
irg the week received from forty-f1ve
Are of One Voice
The real estate men are of one voice
in declaring that business was better
the past week than during any period
in the last five months, and number
Of them gave assurance that 1t was 5OO
Ler cent better II would wish Tor
nothing more than to have the present
good conditions continue forever" said
- Af 1n 10
There are some" he continued, who
kick because business does not come to
them without hustling, as was the case
before the financial furry. Many big
deals are now pending and we have all
we can attend to in keeping pace with
our business"
The action of the clearing house in
compelling banks to increase their capt.
tai has been disturbing factor during
this period of recovery and reconstruc-
ton, but it will ultimately result i'll
much good to real estate.
In the small towns and suburbs,
which in sense are the backbone of
the city, business is reported to be
above normal, the people not being
conscious that there had been a panic.
Some of the largest sales were made
In the nearby cities and towns, especial
activity being noted at Long Beach and
Pasadena. A number of sales were
made in each place, averaging $4,000
each.
Country Sales
Records for the week show that many
of the very best sales were made in
grazing land, ranches and orange
groves. One tract alone brought $4,000.
Another feature was the increasing
amount of sales made in acreage near
the city. The purchasers of these acres
are men of experience in gardening.
coming from other states to Southern
California to take advantage of the
vast opportunities offered and enjoy
the mild climate of this surland.
An roads lead to Los Angeles. There
fore upon this city are directed the eyes
and hearts of tourists and colonists
from every quarter. The reduced rates
offered by railroads tc colonists were
eagerly sought by farmers of the mid
die west. The first trains bearing these
prospective citizens arrived during the
past week and from now on for at least
Fix weeks the numbers will increase.
As the result ofsthis colonist move, re-
ports from all parts of Southern Cali
fcrnia are that the demand for small
farms is unprecedented and constantly
increasing. Small holdings on tracts
formerly devoted to grain raising have
proved so profitable that special effort
is being made to have all of the large
tracts subdivided. Much money, which
was formerly invested in industrial
stocks, is now being invested in small
farms in Southern California.
SeasonabIe Rains
Seasonable rains have fallen over
Southern California during the past
two months, insuring good pasturage
and good crops for the coming year.
This fact is proving benefit in the
sale of lands, which, though fertile,
have not yet been placed under irri-
cation.
To provide drastic law for the pun
ishment of real estate Sharks" the
establishment of closer business rela-
tons throughout the state between the
members of the Realty federation and
the constitutional amendment affecting
the taxation of public utilities will be
the important subjects before the an
nual meeting of the California State
Realty federation at Sacramento March
1918