Los Angeles herald., 1909-01-10
BUILDERS FINISH
GRAMERCY PLACE
WORK TESTIFIES TO CITYS
GREAT GROWTH
Year Just Closed Proves the Most
Successful in History of Worlds
Largest Cooperative Build
ing Company

Gramercy place in the College tract
has just been completed both ways
from Forty-eighth street, making one
of the most beautiful resident streets
in Los Angeles The wonderful growth
of the College tract under the splendid
management of the Los Angeles In
vestment company from an alfalfa field
two years ago to one of the very best
sections of the city convinces the OBJ
server of its popularity with the home
seeker. Every house on Gramercy
place is an architectural gem, built to
suit the taste and convenience of the
occupants, and each house, for the time
at least, occupies such position on one
lot as to give the occupants the use Of
the adjoining lot and each lot is well
parked and plotted.
With the completion of Gramercy
place the Los Angeles Investment COM
pany turns to other equally attractive
sections of its great College tract Will
ton place and Cimarron place are now
being improved in the same manner as
Gramercy. 1t is the intention of the
Los Angeles Investment company to
make every street in the tract as beau
tiful and as attractive as the one just
completed. The Grand avenue car
passes through this tract
The thirteenth annual report of the
Los Angeles Investment company for
lS0S, just compiled by President Charles
A. Elder, showing the great work being
carried on successfully, is as follows:
Starts at Height of Panic
THE year 1908 was our thirteenth
year in Los Angeles and was COM
menced in the height of the panic, but
II has been our most prosperous one.
The company has charged up in net
prof1tS from all sources the sum of
S662, 5l5.Z3, of which 1882, $4,000 was di-
vided among stockholders in cash div
idends and $4S0174 was added to
the surplus and undivided profit ac-
count for future division, leaving on
hand at the present time surplus and
undivided profits amounting to $1,005,-
584.29
THE market price of stock one year
ago was 1925. The market price Of
stock today being $2.65 and the 20 per
cent cash dividends for the past year
makes the net earnings to stockholders
(based on the market value of Stock)
just so per cent for the year, which is
the largest percentage of earnings for
nine years.
January 1, 1908, the paid-up capital
and surplus was 1895. 409.S6. January
l, 1909, paid-up capital and surplus is
2,1O9,951.29, an increase Of $7S4,541. 43
for the year. The number of stock
holders one year ago was 1895; the
number Of stockholders today is 1747,
an increase Of 551 for the year. During
the past thirteen years the company
has paid $40 per cent in cash dividends
an average of over Al per cent a year
During the year the company built
131 houses, on its own lots and those
belonging to other people, the average
cost being about $4,000. The company
has now under way about fifty houses
/
except one is sold, even those with
only the foundation in. 1t has been
almost impossible for us to get a house
up before being sold. Our mills, fac
tories and lumber yards have made
large profits during the year and are
increasing in efficiency.
Predicts Banner Year
'The past year opening in the midst
of the financial panic made things look
blue to many Of our stockholders, and
when prophesied a year ago that the
year 1908 would be the best in our
history, very few believed / was right.
In the first two months of the panic
we lost over 100 stockholders who
through necessity or fright were com
PEELED to sell their stock. During those
two months $105,00O was paid out by
the guarantee fund and our officers
for stock, to those desiring to sell.
During the last few months of the
year a great many more were COM
PEELED to sell. All received their
money in full without a minutes de-
lay, thus preserving through those
dark days our unique record Of no
stockholder ever having lost a cent
by being compelled to sell his stock.
By June / we had regained the num-
Der OF stockholders we had at the
beginning Of the panic, and since then
the increase of stockholders has been
very rapid. Almost all OF those who
sold during the panic have since re-
purchased stock. Especially have the
last two months shown a wonderful
increase in business, making the profits
for the year the greatest in our his
tory