El Paso herald. (El Paso, Tex.) 1901-1931, 1917-01-30
WHENREALTY WAS
CHEAP IN Il PASO
H. B. Stevens Gives Realtors
Some Early Day Figures
Brilliant Banquet.


The Satterthwaite addition 10 FL
Paso once sold under a mortgage for
$4,000. Horace B. Stevens told the Ell
Paso realtors at their annual banquet
at Hotel Sheldon Monday night. The
addition consisted of all the property
west Of Santa Fe street TO the river
and north of Franklin street to and in
Guiding the present Sunset Heights. Mr..
Stevens said a Fort Worth bank sold
the property TO satisfy a mortgage.
and, finding no buyers. bought il in
tor the value OF the age-S2O.0OO-
The representatives Of the bank offered
MN the property for $4,000 and. after
l lllahlng aTrangements TO borrow me l.,
money and buy it. he got cold 1eet
and refused it Later he sold the prop
erty for the bank for $4,000 and the
people who bought it made millions
out OF II.
NJ. Stevens cited this as one of the
indications of the great growth of Fl
PasO and the opportunities il has o.
Tered investors in the past, and de-
clared that there are still just as good
chances here to make money in real
estate as ever before.
He said the property where the pres
ent White House is located sold some
time after he came here lin the latter
eighties) for $4,000 and he tried to
get client to take it over and the
client refused The property later sold
for S26o.o00. he said, and is worth $780,
000 now.
The present Roberts-B Banner building
site sold after he came here for $4,000
and the present location OF Bryan
Bros sold for $4,000.
Cheap Rental.
de told his fellow realtors that Floyd
Payne once rented the present location
OF the T & p. city office IN the Shell
lon d. l.
store Tor sic month. lie occupied
three times as much space as the pres
ent L x p office" said Mr. Stevens.
and had the use of the basement as
Wen Mr.. Payne pleaded guilty.
Alr- Payne presided as POSTMASTER
az the gathering and there was large
attendance, all enthusiastic over the
organization and the condition Of the
realty market in FL Paso-
A H Anderson. president OF the FL
faso Realty Exchange, told the mem {
'ers that they had received authorize /
ton from the national board 10 use /
10 winch only members OF regularly !
organized real estate exchanges or /
cards affiliated with the national or
sanization are entitled.
Mr. Anderson gave the realtors some /
2ersonal history that they did not I
know. He said he first came TO FL /!
Paso back in the eighties and fired an /
engine IN an ice plant about where
Inc present Consumers ice plant is To- I
"a ted. Ezekial Newman was then the 4
manager Of the plant He left. how
ever, and returned TO Chicago, bet /
-ould not rid himself of that call !
y the west so came back later and
entered into the real estate business.
Everybody Jolly.
ne meeting took on the spirit OF
olilty and lew OF the speeches were
IL a serious nature. Some of the old !
liners told stories OF the real estate |
business and of FL P2sO long ago, some |
,ors in a friendly, though pointed way. /
md Dan N Jackson closed the speech |
making as only Dan N. jackson can I
To- Everybody was grilled with some
pointed story or barbed Jest. all good !
latured. and the brilliant speech of !
he brilliant lawyer was fitting close !
o most enjoyable evening.
The tables were decorated in flowers ]
named menus marked |
ach place The chicken was "a Ia
lloyd Payne, the salad was real es-
ate salad the soup was "Consomme !
the cocktails were Austin |
cocktails and so on
other speakers besides president An !
erson. POSTMASTER Payne and judge
ackson were James L MARI, r. L.
herman, H W Broaddus. Horace 3.
'tevenss George r LeBaron, W H.
Justin, r H ThOrne. G. A Martin
Play on Names.
Mr. Sherman made q brilliant effort, |
1uch OF II being play on the names Of the |
ealtors present H said there was nothing
o Mari the real estate game in FL PasO,
incs the business was as Brosddus IL is
ong and has always been kept on thu
-eavelL He said the clients OF real estate
men might be classified as suckers and
keptics, or as the skinned. the unskinned !
nd the unskinaable
Il. ". Broaddus was on the program for
talk. but owing 10 the death OF a sister.
vas not present. and his place was taken on |
ne program by his partner. Geo r LeBaron
wi nrla~~ 4
'arks. Of the arrangements for the dinner. l
During the evening. before and between
peeches- music was rendered by Van Sur
ANS orchestra and there were songs and