Oakland Tribune from Oakland, California • Page 34

max i lf ji i irii in i -rri-r- OAKLAND, CALIFORNIA, MAY 1, 1932 IMPORTANT DEVELOPMENT PENDING IN RESIDENTIAL AREA fa fil i ESTATE! s5i Figures fer First 3 MonlnV Of Year Indicate Better Money Conditions for Land Hi 'it. 1 'it "iCt fir WW' AZ rW "At it fMUIMiV 4 -O W'? Janu.iry. For February the figiira jFa 4 lC 1.71.000 ami for March tha 'V' mJ i Ma wa" 1.89.00.- Th vast ma- 'ip Jrlty thl" rnoney 1ms gnne to WJ finance really operdtlons, laioly 7m Pi' i ill II law leal mm Xearly $14,000,00.0 has bepri loanedjfor real estate and building operations In the Eastbay com-rhiinity during- the first thre months of this year, of which private lenders contributed mora -than 37 as shown by an Oakland real.estate board, analysis Of official records compiled by th, Loan Reporter. Less than 10 per cent of this amount was required to finance the entire building pro- gram as shown by building permits recorded. the firrt three months of, 1531, the figure show a reduction fnTntal loans of np-proxImatPly $2,680.00.0 due the present strlnprnt pollvy of 1 mortKage'companies.

building loon concerns and life companies which arejiow loaning about 'one-fourth rniich money as during tho first few months of last year. Banks are now" loaning 53 -per cent of the total-and private lend-. Iurlng' the com- paraoie period or last year, nanK-loaned 38 per cent and private lenders 34 per cent of the whole, the realty; board ffnds. "A steady Increase in the of loans made. by private lenders during the last three months Is a most significant fact disclosed 'by.

the realty hoard's analysis," said James H. L'Hommedleu, president of the organization. "Private loans totalling 000 were made In this city during homo buying. ii ii in inner nnase or me reaiv- husincsa always Constitutes the ma- Jor item but It is of far greater i-. nun limn nj.

nullum timr. Home-seekers that might that selling prices are generally much lower than was tha case a few years ago beeaune of the greatly lowered cost of building. "Building costs for residence construction today are twenty to twenty-five per cent below comparable, figures ot five years ago. Market prices for existing structures have to compete with duplication costs to a great degree. Prices for homes of the more desirable types are being well sustained, however, because of tha present greatly restricted building; program and the abnormally high occupancy ration.

'Although a 90 per cent oceu-pancy of s.ingle-famlly homes Is a normal status, homes of the East-bay area are 95 pe.r Cent occupied and approximately 5000 ot them hold more than one family. "Such a condition amply warrants an i ctlve building program and Justifies the gradually Increasing volume of private loans being made and should stimulate a mora liberal loan policy on' the part of other lenders. A ready market exists for newly built homes and sn active building program would, greatly aid the unemployment situation." FOR RENT! i Thii aerial view of the home district comprised by Si. Jame Wood, Upper Piedmont. Estates, Oakmore Highlands, Montclair Highlands, Piedmont Pines, Hampton Highlands, Shepherd Canyon Park and adjacent territory, shows the region to be served by tlu new artery to be constructed on upper Park boulevard, bettveen Estates drive and Mountain boulevard.

Bids have been called for the widening and straightening of this important thoroughfare. New boulevard is shown in this aegal photo by dotted lines. The three arrows point to ihe locations of three monumental side-hill bridges to "be constructed. The new boulevard, besides, serving the big residential district, will also be East Oakland's principal feeder to the new Broadway tunnel. Commercial and Pholo View company pholq.

Continued Activity in Real Estate Is Reported Changes in School Tax Laws rged by Dealer Hills Koad to Present Small Bridget Planned An Important step In the development of the home area com prised by the Piedmont Hills Oakmore Highlands, the Montclalr District, Pine. Shepherd Canyon 'Park, the Valley and adjacent territory. Is the calling for bids this week for the grading, and the construction of drainage structures, on that section of upper Park boulevard, situated between' Estaiea Drive and Moun tain boulevard. This artery, at present a narrow, Grinding; road skirting the upper reaches' of Dlmond -Canyon, Is to ba transformed into a uplendld boulevard, measuring 4 feet from curb tfl. curb.

Data supplied by the city engineer's office show that the boulevard will require the con struction of three sideEhMl brldges, of the monumental "type, resting on pillars rising -35 feet from the walls Of canyon. These, slde-hlll bridges. or trestles It in stated, will be bujlt-lajilace where, owing, to thaTTTnrfe of the terrain, fill-ins sre not feasible. The. side, hill bridges will be furnished with ornamental balustrades, fitting Jn the 'harmonious- ensemble of this accnla thoroughfare.

Ilt'GB COXTliACT. 'City engineer's provide for 122,000 yards of excavation in the, construction of this road. Besides being widened, over Its entire course, the present road will be straightened. In line with this straightening process the road will cut part, of the large quarry situated near the. Junction! or rarK oouievara ana Mountain boulevord.

Allowing tbe, flIJ-ln to thorough- ly settle, a temporary surface will be applied after A surplus of 'the'mnterlal of this is ntnted, will be iised by the city to fill (he creek on Moxnga road, south of Commenting on the widening and straightening of Bark boulevard, Breed, representing MoragrVaHey Interests and the 8an Ramon Valley- Chamber of Commerce, of which -lie is a n. states: "The city of Oakland Is to be congratulated upon this move, which will eliminate what hi long been a traffic bottleneck. Upon the completion of the new Broadway tunnel, Park boulevard, connecting with Mountain boulevard, will become a major trafflo artery, being East Oakland's principal feeder to the new tunnel." If OPEN. TARftE Tit ACT, "Eventually, Breed "we will also have the Shepherd Canyon tunnel. Park boulevard will also be the main avenue of approach, to this low level route to Contra Costa, county," Paul Pause, of the.

Montclalr Realty Company, comment at follows: "With the opening and widening of Park Boulevard and Moraga avenue, of Hampton Road 'from Moraga avenue to La Salle avenue fn upper Piedmont (this work now being under way) the building of a connecting artery from Mountain Boulevard to the new Broadway tunnel Jut above Ijike Temascal; Montclalr Highland, 'Piedmont Pines, and Hampton Highlands are brought Into the renter of the finest residential community of the Piedmont Hills district. "'From' the Montclalr business district will rsdlate a 'network of splendid boulevards, bringing this district, within ffv to fifteen minutes drive of Piedmont, Oakland or Berkeley." California Maintains Its Place in Building again was second In volume of building permits Issued, with 17, 548,658 as compared with New fork's leading figure of during the month of March, 'Anjother Pacific foaat state, Oregony ranked fourth, with a total of J2.405.671. Three California, cities among the twenty-five which led the country In building, Los. Angeles, second: San Francisco, rlghth, and Fresno, seventeenth. Fresno was one of the six cities which recorded gains' ever the asm month of 1931, and one of thos which recorded gains over February of thla year.

It was also tin of the ten cities that were not In the top twenty-five in February and Jumped that clsss in March, Rug Company Has Plant Here Establishment of another firm in Oakland's industrial area 1s re-veiled with the opening of the City of Constantinople, specialists In tha care and protection of Orienal, Chinese domestic xugs in a plant at -1125 Sixteenth street, Oakland, Hovan Dedaryan, organlier, and Krikor Josephs, plant superintendent, contribute to the new Oakland concern the Turkish-Persian knowledge of the art of properly cleansing valuable rugs. Lloyd K. Holton, former sales and advertising manager of The Rola Is general manager of tle City of Constantinople, i Gorden Whltnall, civic leader sod planning consultant, baa ben rimed secretary-manager of the League of California Municipalities, succeeding Wm. J. Lock.

Piedmont Replace Road; j. sales tax and other forms of gen erai taxation to be determined by the legislature. I is estimated that this measure will reduce the Alameda county tax rate by 12 to 14 per cent. Initiated by realtors and their allhd prnpertyirittvner groups, this proposition now has the active support of more than 100,000 Cnli-fo'rnians allied with California Real Estate association, California Farm Bureau federation, California State grange, California Teachers California Department of Education, California County Supervisors, sssorlatlon, California County Auditors sssoclation, snd the California County Tax Equalization association. OFFICES 4 SJ ROSE DISPLAY AT NURSERY Waller 'Bates, manager of the Tennyson Nursery company at 1509 Humboldt avenue, reports that large variety of roses ot all colors and description are In full bloom i -at present, and Invites all Interested to view this colorful display.

Bales stales: "With roses of every description in full bloom It Is possible for those Interested in planting roses to select the shade of rose most deslrablei. Jt'ls only by seeing the different shades of rosea In bloom that one can make a selection and with all In bloom it is, simple matter select the preferred color." The Tennyson Nursery has also a full stock of watfr plants, reports. This collection consists of water lilies and the smaller, oxygenating plants. Bates states that a complete variety of rose plants are maintained In pots and are ready forx Immediate transplanting. At this tiufe of the year the Iris are In full bloom.

-j "Our largo collection of chrysanthemum plants are now ready for planting for fall blooming," saiuV.Bales. Pansy plants are still available and customers may make their own selection from the beds." Made Manager X)f New Division Herbert Dana, well known football referee, hss been appointed manager of bookkeeping pia-ciilne division Eastbay district, of the Underwood-Elliott Fisher company at 8RS Nineteenth street. His territory1 will Include all of the-clties and communities of the Eastbay and Crintra Costa -county. Dana was formerly head ot the same T-' of the Vnderwood and attained his present posltlos when the sales organization of the three companies represented in the Underwood-Elliott Fisher company were recently Real Estate Activity Over-State I ncreases Real estate filings In California for the first quarter of thla year reached a totai of 249, 47B, -with a peak figure of 97,401 for. March, ft gain of 80 per cent over February, a survey prepared by the Title Guarantee A Trust Co.

reveals, according to the California Rest Estate association, ten years line been paying $35,000 per year over fixed expenses. Ueyerly Hills The Itobert Ross Company, realtors, reported snle-of' nn eight-store entire business block at Santa Monica boulevard nnri Roxbiiry drive, at a reported 'consideration of The transaction was one ot the largest Beverly Hlls deals this year. Los Angeles The TV. Ross Campbell Company reported consummation Of a ten-year lease Involving a total of approximately 7 R.ono. The terms' of the lea.se, cnll for a ono-stnry brick building tp contain' 25,000 square feet of manufacturing space to he ervted Immediately for the Purex Corporation, lessees.

North Hollywood: The chamber of commerce Is hoWlng conferences with leading rltlnens In regard to assisting in restoring confidence and urging the buying of real estate In "this district as a safe investment. tl 1 1 leaders here are convinced of the fact that complete and speedy business recovery depends-, upon the action of the Individual. Terra Bella, Tulare county The Terra Bella Irrigation District has completed purchns of 40 acres of land on Deer creek. Ylsalln. activity In both city And' county property in the past few weeks is reported by the wards Realty I 'nin STATION LICENSE LAW ASKED Tropnsals ibni revlnton of (he really Broker's license law be asked of the next session of the ieglsla-tura are being considered by the Oakland Ileal Estate board's committee on legislation the most Important change proposed being that the' department be.

managed by a commission of three Instead of by an Individual commissioner, as at present. Advocates' of the change hold that a commission Qt throe realtors serving without compensation other than per diem and traveling expenses, would prove'more economical and woltld more adequately administer the law than can an individual commissioner wing a salary and traveling expenses, according to Ralph At, Knapp, chair-man of local- board's Under this form of administration, Knapp explains, the commissioners would be appointed for six terms at two-year Intervals, thus Insuring a continuance of poljcy and In the 'interpretation of the, law by successive commissioners, It Is held, has proven embniTHSHlng to all Another snbiect being considered IS the requirements for a broker, Indemnity bond. Many realtors advocate more stringent Indemnity bond requirements than are provided for in the law, while others prefer that It be eliminated entirely if other regulatory feature of the law could he marie more stringent. Realty Man Reports Land Boom in Canton Canton, China, Is experiencing a resl estste boom, and as a result Of brisk Speculation In real estate many of thai, poorer Masses have been put out ot thelf houses, Harrison Lewis', Beverly Hills, real estate man, who is on a world tour, reports to the California Real Estate association. Many real estate companies have, sprung Into existence.

Lewis writes, the natlvp.of Toishan being In the majority Inuhln tine-of activity. Buyers- tfj real property have been evicting their tenants. The age-long rule Is that the property owner will forfeit three months' rent If he causes a tenant to vacate, four months' rent If, the tenant has to njove because of the sale of the occupied premises. Having realized large roflts, the land buyers are often glad lo forego the collection of four months' rentals to get back the slle.for Success of the proposed school maintenance constitutional amend ment Is but the first of a series of steps in tax "adjust moot necessary In California-to prevent a general breakdown of our governmental system, Oakland real estate dealers were toJd by H. L'lloni-medleu, president of the realty board, at a district meeting of the organization held last Tuesday evening nt 3400 avenue.

"It Is preposterous for anyone to suppose thatgpvernrii'ent ran conr tlifue to function based on tax system which requires onj-flflh of the people to pay four-fifths of the taxes, when this minority owns but one-hatf of the taxable wealth and earns but one-third of the current revenue," eald'L'Hommedleu. "That Is the case with our present tax system. It. is viciously inequitable and economically unsound and cannot long continue." "There will be no need of so-called tax strikes to force adjustment. The limit of endurance has been reached by the realty owner and he will soon be utterly unable to pay his taxes.

More than' half a million pieces of (California real estate went delinquent this year and the number, will probably be' more than doubled next year. I tnan a rourtn ot tne rarms of two states have lately been sold tor taxes. The California farmer ami 'smnJI home-owner, as well as the owner of Income property 'Is now but one jump ahead of that. Many of them have already given up tbe fight." Organization of a local campaign committee Is jeffertert by a group of realtors and realty own ers representative of the entire Eastbay. It Is being formed primarily for the circulation of petf-tlons for an initiative constitution-" al amendment relieve common property of the cost of school maintenance, but It is to be made a permanent body for the furtherance of tax revision.

The school cost amendment -Is estimated to relieve California realty of more than $40,000,000 per year of taxes and spread the burden equitably over the entire population through-an- income-tax and Factory Employment Now on Stable Level Factory employment in California, during the first quarter of the held at stable levels, according to tha Wella Fargo Bank and Union Trust company. Data assembled from 1231 es-tabllshmenta by the State' Bureau of Labor Statlsttca showed, that the number of employees declined 1 per cent only from February to March, that average individual weekly earnings Increased 1 per cent and that is a result payrolls howed no Rpnl estnle continues active, with ninny sales, exchunges, lenses and oilier trnnsnctlons being, reported, and i'ens-Ing In a number of localities, according to tho weekly survey of the California Real Instate Association, as Oiiklarid-1 Occupancy surveys of residences, tints and ''apartment houses of the city conducted by the Or Win ml poHtofflco and tabulated by the real estate board show that while multi-family housing is occupied to a degree approximately normal, there Is for single-family dwellings a vacancy ratio that is less than halt that acknowledged to bo noi ninl. Sacramento Construction Improvements totaling approximately $1,200,000 sre being mode In Sacramento, With the assurance of in additional building operations starting within the next 30 to 40 days. Sen Sales and exchanges reported by Milton Meyer totaled over" $200,000. The leasehold ot the Klsftiron building has been purchased by the owner of the fee to the property.

The leasehold was originally granted for 30 years and whs to expire in 1 According to Dr. H. 1). l.edernian, who represented bcilii parlies to the transaction, the building for the past SKI HI Restriction or elimination of IV real estate, "For Sale'' signs In the Melroe-Elmhurst district of the ciiy is to he considered by realty brokers and property oftners of that area at a meeting be held Tuesday evening," May 3, at the offices of the V. B.

Kyle 4il4 East Fourteenth The conference. Is called by directors of th Dakhsnd Real Estate Board representative of thnf district, Leroy Moore, Georgo Hunan Jr. "and Frank Barnhnu. It conforms to a general program of realty board which Is i mitigating meetinRS of this kilul throughout the city. Fred D.

Kaiser, realty board director for the district, is arranging for a meeting in thfpt area to be-tin-notmreri later. Such a sesflun Attended by 40 dealers of the norJfi-of-the-la'ke di.Mrlrt was held faVl Tuesday evening at the Trestle Glen office of L'Hommeldue Ino, RESTH CTED BBS GH DDL AIDS THE' TRIBUNE TOWER Oakland's tallest office Building, the 5 WEEK Mrs. Roland Bendel of Pecoto, who had charge of Better Homes Week In. Washington' township, "We arranged with the Xiles grammar school and the Washington township union hlgh school that the sixth, seventh and, eighth grades" "and ihe Journalism classes write essays on aome phase of Better Hoipos. Jn this manner we have aroused a keen interest among the pupils." Mrs.

Bendell also arranged the Better Homes tour of the Library-Farm bureau-Better Homes group and a luncheon at the uid Adobe at the California nursury. 4 The citrus acreage in Orange coiinly Increased from 4S.0S9 to last year, according to figures, of A. A. Brock, agricultural commissioner, ReUurns from all orchard s'Mn tbe county amounted to 144.flSll.sH4. of which ME outstanding structure of che great Eastbay offers you hicjh class office space with an abundance of light and fresh air inspection itt tha Building Manager, A.

J. Slaght TME TRIBUNE TOER cam from citrus..