Los Angeles herald., 1908-03-22
INVEST MENTS
IN REAL TY
SHOW GAIN
VAST AMOUNTS ARE SOON TO
BE INVESTED
ENORMOUS SALES OF COUNTRY
PROPERTY
To Good Borrowers Money VIII Be
Plentiful at Easy Rates-over
$1,000 coIonists Arrive
and Settle

Investments in real estate for the past
week show decided gain, giving as
surance of a rapid return to normal.
In city property number of good deals
were consummated, while others of
greater Importance and magnitude are
pending. In country property sales
were exceptionally large. especially in
orange groves and ranches. One of the
largest deals, If not the largest in the
history of the orange industry in Cali
fornia, was brought to a successful
close, amounting to more than $200,000
Vast amounts are about to be invest
ed in business properties in Los Ange-
les. These sums will come from east
ern sources. AS a forerunner to these
investments is the announcement of
Paul Morton, president of the Equita-
BILE Life Assurance society. during a re-
cent visit to Los Angeles, that his
company would make big loans on
business properties centrally located
These good tidings have had stimu-
lating effect upon realty throughout
the city. Such loans could not come at
a more opportune moment, when the
banks have not yet reversed the order
TO loan money on real estate. A quick
ening impulse prevails over the entire
field, and the erstwhile marvellous ac-
tivity is due to return.
Money Market improves
The money market of Los Angeles
has greatly improved. and along nu-
merous lines conditions may be said to
have reached normal The prospect
from both a business and banking
standpoint is encouraging. While de-
posits at the banks are still fluctuating,
they are gradually increasing in num-
ber. Reports of the banks for the past
six weeks show that both loans and
deposits have materially increased since
the last commissioners report. Evil
dence of a freer money market was
manifested in the recent investment In
aqueduct bonds by two more banks,
amounting to $4,000.
To good borrowers money is likely
to be plentiful at comparatively easy
rates for some time to come. 1t will
not only serve to support the better
class of securities and turn investment
seekers to real estate, but will also en-
able the railroads and other large cor
porations in need of funds to obtain the
new capital required TO complete the
enterprises previously projected.
Eucalyptus Industry
What promises to be the beginning of
the improvement of the foothills back
of Whittier is under way. This Is the
extensive planting of eucalyptus trees
on what are now the treeless sides of
the hills. The eucalyptus industry is
forging ahead rapidly. Reports from
many sections are that thousands OF
acres are being planted to this tree.
A new company recently organized at
San Diego with $1,000,000 capital has
bought 500 acres at Ell Cajon for its ex-
elusive culture.
feature of the week was the setting
aside of the new land ruling with re-
spect to filing on desert lands. /. w.
Gleason, representing the interests OF
the Imperial valley, has returned from
Washington, after succeeding in getting
granted by the interior department the
contention as to land entries. The new
law provided that man who had made
one entry or taken a piece of land by
assignment had exhausted his rights.
AS nearly all titles in the Imperial val
ley were held up for several years. this
ruling destroyed the possibility of Sc
curing title to 100000 acres of land
worth several millions of dollars. 1t is
said that if the law is to apply at all
the date for 1t to become effective will
be set some time in the advanced fu-
ture, but it will hardly ever become a
law.
coIonst Movement
The colonist movement to Southern
California is progressing with strides
and bounds. To date the number to
pass through Los Angeles exceeds 15,-
900, and the travel has but fairly COM
menced With an average of 10000
newcomers i'm Los Angeles during the
spring and summer season, a minimum
of 100000 may be expected for hotel ac-
commodations, rentals, provisions and
necessities. But what is far more inn
portant is that these travellers are set
Ting upon ranches and fruit orchards.
According to evidence the gains in act
ual settlers are far greater than for any
past season. Los Angeles is the gate
way for the colonist travel. Formerly
it was San Francisco, but the vast op-
portunites surrounding has turned the
guide posts till the queen city of the
south is supreme as the first point of
reception.