The Los Angeles Times from Los Angeles, California • 70

SUNDAY MORNING. NOVEMBER 24, 1529 PART V. Wilshire Boulevard Business Growth in Five Year Period Declared Phenomenal 2os Jlnaclcrrtrtmcs BETAIL ESTABLISHMTS Buildings Typical of Development Along Wide Highway Building Here I i at Even Trend OFFICERS OF BOARD TO BE ELECTED 1 RECORD TEN-FOLD GAIN BuDdlng conditions ta Los Angela during November continued at a steady trend, accord! nr to firnrea released Will Choose at Session on Realtors Leaders Tuesday last week by the city building inspection deoartmcnL The ,1 I Mercantile Advances Disclose 108 Stores With Volume of $18,150,000 Yearly j- FIv years ago-ten retail shops with combined annual business estimated at $455,000. af Today a total of 103 retail shops, Including one department store, with an aggregate yearly volume estimated at more than I 18ATh)ls the record achieved since 1921 Li the mercantile de-: renvnt of the five-mile stretch of Wilshire Boulevard from Westlake Park to Fairfax avenue, now being heralded through-4 cut the country as the "Fifth Avenue of the West." i record shows construction work almost level with that of. one year ago for the month and but lightly behind for the year to date.

The figures are: 1929 to date $81088,914. 1928 to date, $89,919,036. November, 1929, to date, $4,872,589. November, 1928, to date, If- it i 4 i fi SB I 1 3MMHfc, 'i vJ Election of officers of the Los Angeles Realty Board will be held at a meeting of the directors at board headquarters on Tuesday afternoon. Directors voting will be the eleven elected last week, and ten members who continue In office for another year.

A president, first and second vice-presidents, secretary and treasurer will be chosen, to assume office January I. The official inauguration will be on January 11, on the occasion of the board's annual banquet, which will be held at the Biltmore. A banquet committee, consisting of Frank H. Brooks, Robert Baker, George Coffin, W. D.

Cochrane and Randall Phillips, has been appointed by Mason Case, to work out details of the event. As usual, special features will be the flve-mlnute home-town contest for the Gilbert Wright trophy, and the presentation of the Realty Board Service Watch, presented to that citizen, who In the opinion of an impartial committee, has contributed most to Los Angeles during the past year. volume and la number of retail es- CQ TIRSE ON HOMES LEAD IN BUILDING OVER NATION FINANCING ANNOUNCED REALTY QUIZ HELD TO BE SUCCESSFUL Many Applicants Pass Examination Conducted by State WAREHOUSE TO RISE Plans have been' completed and work soon will start on a $7000 brick warehouse to rise at 2050 East Forty-eighth street for the Technical Glass Company. SCHOOL FUNDS AVAILABLE An appropriation of $95,000 has been made by the Pasadena Board of Educat'on for erection of a two-story reinforced concrete addition to the Webster School, Pasadena. i Correspondence Lessons Will Deal With Problems of Home In accordance with its policy of IMJM.

tablishments along the bouievara was disclosed yesterday with the completion of a 6urvey made by Theodore Dugger, manager of 611-v yerwood'a Wilshire store, in co-op4 eraUon with R. R. Zane, director of sales and leases for A. W. Ross, 'developer of the thoroughfare's i "Miracle Mile." EARLY BUSINESS LISTED The survey revealed that five years ago the only business ce-i velopment on Wilshire Boulevard from Westlake Part to Vermont avenue was a single structure at the southeast comer of Vermont and the boulevard, containing four storerooms.

Then came a long jump to Wilshire and Western ave- nue, where the only business struc-' ture was a large market at the northeast comer. From Western avenue to La Brea avenue resi- dences and vacant lots lined the Wilshire Structures Portrayed Survey Shows Division of Construction Money for Present Year Approximately 34 cents of each dollar expended for construction purposes this year goes into new homes and apartments, it Is Indicated by latest data examined by Greenebaum Sons Investment ComDanv. This is the largest sin Among the representative 6hops lining Wilshire Boulevard are those at keeping its study material definitely uptodate, the correspondence de Wilshire and Hauser, pictured above at the top, left, Wilshire and Berendo, shown at the top, right, and at Wilshire and Carondelet. partment of the University of South LaBONTE RANSOM CO LTD. STREET'S FUTURE ASSURED ern California has Just Issued a revised lesson on home financing, and GLadstone 2161 132 N.

Larchmont Blvd. a new course of eight lessons especially designed for real estate salesmen who desire a firm foundation gle item of the year's building outlay. Public works and heavy engineer (Continued from First Page) structures on the east side of Spring street between Sixth and Seventh. ing projects are absorbing the next largest share or tne is3 invest ment, which amounts to about 23 artery. At La Brea a minor Birou- tm-A rmitftininff two Email StOTfr- in accordance with the provision recently incorporated In the Real Estate Act, requiring them to pass an examination In order to obtain a license.

cents of each 100 expended. rooms served the business needs of The examination of applicants for real estate salesman's license is meeting with marked success, State Real Estate Department records reveal, approximately 93 per cent of those who take the test receiving passing grades, and comments heard over the State are all favorable. Although the total number of persons who have taken the test to date is comparatively small, this is attributed to the fact that much study is being put In by the prospective licensees. Hundreds have enrolled for the special course sponsored by the California Real Estate Association and the University of Southern California. Probably due to the same cause, there were on October 1, 4416 less people licensed than there were for the same period last year, and there were 339 more brokers and almost 5000 less salesmen.

The fact that there are 339 more brokers, and that more than 200 of these formerly were salesmen, is attributed by the department to the belief that many who formerly held New office buildings, stores and year moved from Its location on Broadway to 639 Spring street, quarters which they are occupying while awaiting the completion of their magnificent new home now under course of construction across the way. This move brought with it a concentration of practically ev HANCOCK PARK RESIDENCE A charming aew Italian horn for $49,500.00. Eleven large rootni with four bedroomt and three balhi on the tecond floor, and two maidt' roomi and one bath on the fint floor. Three-car garage, with electrically operated doort and direct entrance to houie. Unusually attractive elevation, with view of enclosed patio through Italian arches.

McCadden Place at Second. that district. Tne next, aevejup- Part of its general course on real ment was a two-store nunaing ai the southeast comer of Cochran and Wilshire and then a fruit mar- other structures of a commercial nature represent a 16-cent cut of the average dollar spent, while the share devoted to factory and shop construction Is approximately 12 cents. estate, the lesson on home financing ket at Curson and Wilshire. has been prepared by George A.

Schneider, lecturer in real estate at While Wilshire Bouievara sim in its Rwaddline clothes, so to speak, The allotment for new education Southern California and at uni versity college. Problems confront al buildings is 6 cents, and for all other types of construction 9 cents. i as a shopping thoroughfare, today It Is virtually teeming with activity as compared with the situation in UNIMPROVED MAJOR CORNER Third Street it rapidly developing. Thi double corner with 66 feet on Third Street and 110 feet on Orlando it priced for quick aale. Don't overlook this opportunity.

This years proportion or outlay 1 1924, according to tne report. Many ing the person who desires to purchase a home on the deferred-payment plan, or who wishes to borrow to build upon vacant property, are covered In the home-financing les for residential building is the small of the finest business chocks in tne I city now are located along the thor- est in some years, it i3 further found. To that fact is attributed the decline in total building investment noted for 1929 as compared with 1923. son by mall. Various sources of oughiare ana aaainonai structures 1 nt thm latest and most modem ar- Within three days after the steam shovels began excavating on their respective sites, the California Bank announced its Intention of breaking ground on the first of the new year for a $1,000,000 height-limit addition to its head office located directly across the street.

The Western Union Telegraph Company also is planning the erection of a limit-height building on Spring 6treet to cost approximately $3,500,000. By another year Spring street between Sixth and Seventh will come close to being the most imposing block in the city, a consummation quite fitting for the heart of this great city's financial activities. When one recalls that this block was once part of a fifty-acre ranch of O. W. Childs, one of the founding directors of the Farmers' and Merchants' National Bank and the Security-First National Bank, its transformation into the center of the "Wall street" of the Southwest seems all the more amazing.

Childs was given this land by the city as recompense for his building an, irrigation ditch out across Pershing Square to the vineyard south of Pico street. This irrigation ditch was still in operation long after he had helped establish upper Main street a3 tne first "Wall street" of Los Angeles. FACT AND COMMENT loans available to sucn a person are treated In the text, their lending chitectural motif are rising or be- Other types of work are In gen practices, and the problems of the borrower. eral holding their own by compari The course of eight lessons for ery stock and bond house in the city in Spring street office buildings. The amazing growth of Los Angeles as a security market since 1921 has given the thoroughfare an atmosphere not unlike that of La Salle street in Chicago.

Within the short span of four Spring-street blocks are now located banks with resources totaling more than $1,250,000,000, and annual clearings of more than The Stock and Curb exchanges in value of memberships, assets of members, and turnover of business since January 1, last, represent another $1,000,000,000. Last year's business of the exchange was three and one-half times that of 1927 and, based on the business so far this year, last year's business will be exceeded by well over 50 per cent. The total business for 1D28 was $842,000,000, which was exceeded in volume only by the New York Stock Exchange and the New York Curb Exchange. With this tremendous increase, the value placed salesmen deals with topics on which salesmen licenses to escape the written examination, have now become brokers, since they must pass a test in either case. Preparations are being made to care for the large numbers who will apply for licenses for the new year.

GAS COMPANY WILL OPEN NEW OFFICES )ing planned tor early construction, It was pointed out. In addition to the 108 occupied 1 stores doing an estimated annual I business of In excess of $18,150,000 today, the boulevard has more than a score of completed shops which already have been leased by fine mercantile establishments, but which hava not been occupied as vet. all licensees must be examined, as these are the basic factors in the handling of real estate. As the time STORE BUILDING Income $5460.00 yearly. Price $55,000.00.

This two-ttory building, with itorei and apartment! it an exceptional value. It it located on Larchmont Boulevard, and it fully occupied. There ii one encumbrance of $30,000.00, We will gladly give complete information to interetted parties. HANCOCK PARK RESIDENCE On June Street, just north of Wilshire the heart of this distinguished residential neighborhood. An attractive ten-room home, with a commanding view of the surrounding territory.

Price $60,000.00. son with the previous years, while in some Instances, notably that of new business building, the high marks of last year are being appreciably bettered. Home Planned for La Canada when licenses are to be renewed ap proaches, registrations are Increasing, according to S. K. Van Dusen, In charge of the home study department at Southern California.

Information concerning the home-study The figures cited above do not Include the business transacted by work in real estate may be obtained tne group oi snops in uig Amoassa' dor Hotel, oil stations, banks, mort by calling TRlnity 1701, or by applt Merrill Cooper, architects, engineers and contractors, have cage concerns, real estate offices, cation to the correspondence study UPLAND, Nov. 23. (Exclusive) Southern Counties Gas Company will open an office here at 271 North Euclid avenue. Heretofore all gas company business for Upland was handled through the Ontario office. Recently gas service was extended to theaters or similar enterprises, department.

Room 1306, Transpor been awarded the contract for the Only retail mercantile shops were tatlon Building, Seventh and Los studied in this connection, so as We also offer other unusual values in Hancock Parh homes. on membership in the local stock and Curb Exchange has increased apace until now a 6eat is worth upward of $200,000. As late as 1923 Angeles streets. Numerous details connected with the transfer of real make the comparison with 1924. GAIN IN BANKS such a seat sold for only $3500.

residents in san Antonio Heignts, making It doubly necessary that an office be maintained for Upland and San Antonio Heights. erection of a $50,000 residence in La Canada lor Mr. and Mrs. John J. Doyle.

Merrill Cooper are now preparing the working drawings for the home. The structure will be of Spanish type of architecture, two stories and basement In height and will contain twelve rooms, solarium, two large patios and fh'3-car garage. It will be 200 by 35 feet in area. BUILDING PLANNED ONTARIO, Nov. 23.

(Exclusive) R. F. Price, Ontario business man, has been appointed Nash automobile distributor for Ontario district, and will erect a modem display and service building at A street and Laurel avenue. PROJECTS UNDER WAY The importance of Los Angeles as a financial center is epitomized by the fact that its outstanding recent or present building operations are upon the local "Wall street." It was but a short eighteen months ago that the Title Insurance and Trust Company opened its $4,000,000 structure at 433 South Spring street, one of the finest institutional buildings in the United States. Within the same time the Bank of America of California dou "Another sidelight on the devel- opment of Wilshire Boulevard Is shown in the fact that In 1924 only one branch bank was situated on the thoroughfare, while today six branch banks handle the volume I created by the Influx of shops and the Increase In population in the districts on both sides of the boulevard," the report continued.

Perhaps the most outstanding section of the artery from the standpoint of Its transformation In the last five years into an active shopping center is that stretch of Wilshire Boulevard extending from Sycamore avenue to Fairfax avenue, known as the "Miracle MUe," aU" I -3 bled the size of its banking room by the erection of a height-limit estate rights are covered In the correspondence course. Contract Given on Excavation for Apartment Leo Honek has been awarded the excavation contract in connection with the five-story, Class apartment building to be erected at 251 South Mariposa by Frank C. Bow-maa Architect Leland Bryant prepared the plans and specifications for the project. William D. Coffey is the consulting engineer.

Cost of the structure will be approximately $123,000. CONSTRUCTION WORK ON RESIDENCE STARTS SIERRA MADRE, Nov. 23. (Exclusive) Work began this week on the construction of the two-story Spanish-type home of Mrs. Mara McKee, formerly of Chicago, at 618 West Highland avenue.

The home consists of sixteen rooms and will cost approximately $13,000, according to plans of the architect, Clinton Nourse. Frank Hildebrandt is the contractor. the survey showed. Since the Btart of Its development four years ago addition to its building at Seventh and Spring streets. Simultaneously, the Los Angeles Stock Exchange and Banks, Huntley Co.

broke ground for their respective nOME PERMITS GRANTED UPLAND, Nov. 23. (Exclusive) S. B. Rowe and G.

P. Von Stein have each been granted permits to build new homes in North Euclid avenue. 000 and $1,000,000 nelght-limit (Continued from First Page) petitioners are the cities of Beverly Hills, Burbank, El Monte, La Verne, Long Beach, Pasadena, Pomona, San Bernardino, San Diego and Santa Ana while the counties involved include Los Angeles, San Bernardino, San Diego and San Joaquin. The case Involves determina-ation of the rights cities and counties have when they attempt to construct streets and highways across property the deeds to which contain residential restriction clauses. The specific case arose in Glen-dale, where a property owner obtained a restraining order preventing the city from constructing a street across his lot.

The deed to the property in this particular subdivision specifically declared that the property could be used for residential purposes only. The restraining order was upheld by the State District Court of Appeal which declared that the city, in order to condemn the property, must name as defendants all owners of lots in the subdivision and would have to pay damages to every lot owner In the tract. The appellants declare in their petition to the Supreme Court, that unless they are allowed the right to appropriate such property as is needed for streets in the regular way, that the highway system of the State will be paralyzed. This point has never been tested before In a State court and the decision will have a far-reaching eftect on thousands of pieces of land carrying deed restrictions throughout California. NEW DESMOND STORE PLANNED that sector has had a remarkable growth, Inasmuch as no business development of Importance had been located there before, while today there are scores of shops In the "Miracle Mile." "In this section of the boulevard alone plans for five large structures, one of which will be of limit height, already have been prepared, and construction work is expected to start soon," the report continued.

"In addition, one limit- Firm Will Build in Westwood Village Yale Court, 4416-20 2nd Avt. height structure is being erected at present. The designs lor the five buildings planned and the one under way show that the ground floor frontage will contain space for more than thirty-two shops." A Complete Service a Designing, Financing, Construction of a ft ft 1 "I 7 w.r,tU Now Is The Time To Buy INCOME PROPERTY Gross Its! 5 its 4 its) A 1 Vx mmm Mercantile Establishment Pictured Income S2800 Are you paying taxes and carrying charges, losing interest too, on a site suitable for the construction of a residential income or commercial building? Are you wondering what kind of a structure would pay you the best return? Are you lacking in funds to build? You can obtain helpful, unprejudiced, reliable information ind assistance from the 'LA. I. You are offered the benefit of its 30 knowledge of realty trends, specialized experience in building large and small income financial resources.

In addition, under the LA.L Plan, you can use any or all these services expert designing, sound financing, economical construction as your'needs require. Come in. Tell us what your problems are Learn how we can help you; see what we have done for others. There is no cost or obligation. Modem fiat building, Spanlah stucco, for 4 families.

Each 6 rooms. Electric refrigeration. Oarages. Terms can be arranged to show net return on down payment of 18 a year. All rented.

A wonderful Investment tor $23,500. 6-famlly flat building on beautiful street, with all improvements in and paid for. S-room apartments with 2 bedrooms. Has been fully rented since completion a few months ago. Full price $40,000.

8-famlIy flat building, 1 block from yel-low car. Spanish stucco on flno concrete street 5 of the apts. FURNISHED. S3800 Midwinter Meeting Los Angeles realtors should be making preparations to attend the annual midwinter meeting of the National Association of Real Estate Boards, scheduled for Phoenix January 22-23-24. The session has a double significance for California realty men in that for the first time in several years it will be held in the West and that Harry Culver, Los Angeles, president of the association, will preside.

Plans and programs of activities of the association and its numerous divisions will be outlined for the ensuing, year and leading members of the real estate profession from all over the country will be on hand for round table and informal discussions. The Phoenix real estate board, In charge of arrangements for the meeting, is working out a sight-seeing and entertainment program that should "sell" the delegates on the Salt River Valley from either a business or residential standpoint $6120 years in Los Angeles, intimate exambhs of the L. A. I. construction ivori include; the Santa Monica Bay district.

Plans call for the completion of Desmond's Westwood early nxt spring. The architects are John and Donald Parkinson and the property deal was handled through the offices of the Janss Investment Corporation. Desmond's four present stores are located on Broadway near Sixth, on Wilshire Boulevard, near La Brea, In the Spring-street Arcade, and on West Seventh street near Flower. In confirming the transaction this week the Janss Investment Corporation announced that with the Desmond development and other deals now pending the Westwood Village area will have cbtained the basic shopping requirements of a complete merchandising center. More than twenty of the Westwood Village stores already have been opened to the miblic and are now In This week marked the opening of three new houses with Ralphs Grocery store, a Safeway store and the new Janss Investment Corporation offices.

These three structures It was stated represent an Investment of $300,000. An estimate of 100.000 people was placed on the number of visitors to Westwood Village this week for the opening of the three houses. FOLLOWING closely the disclosing of expansion plans for Desmond's Wilshire Boulevard store, comes an announcement from Ralph R. Huesinan, president of Desmond's, that ground is about to be broken for a fifth Desmond store to cost approximately $200,000. This new store will be known as Desmond's Westwood and will be located at the southwest corner of Westwood Boulevard and Weyburn avenue in Westwood Village, adjacent to the new campus of the University of California at Los An- The building will be of Mediterranean design conforming with the architecture of Westwood Village.

It will occupy an area of 40x100 feet and will have two floors and a basement. The interior will carry a Spanish-colonial motif. Much emphasis will be placed on "atmosphere," and many new and novel ideas In Store design will be Incorporated in the structure. In place of the usual arrangement of store space, the floor plan will consist of several large rooms, opening into each other. The new unit while Intended primarily for university men and women, will bo designed and merchandised 60 as to permit its serving Bel-Air, Brentwood, Westwood Hlil.y Holmby Hills, Culver City and faigbt limit Western Pacific Building; store building at Pin and Bedford streets; drive-in market at Pasadena ave.

and Daly factory warehouse for W. J. Latch ford Co. Electric refrigerators. $20,000 handles.

DUPLEX Instead of a home, buy a modern duplex. Live In one, other pays expenses New Spanish stucco, with garages. Prices, from $12,500 up For full dctaili, WALTER H. LEIMERT Inc. 8th Ave, West Vernon Ave.

Phone VErraont 1174 Head Offices 431 Paclflo Mutual Bldg-i L. A. Ph. VA. 2181 .1 I A.

INVESTMENT CO. 1016 So. Broadway, Los Angeles T-e Mi. 101C South Kroadwny Telephone WEstmore 0251 Net Worth Over 1 11,000,000 Please sena me. withou, obligation, a copy of "The LA.L Home Building Plan." Address TLANS REVISED Architects Bennett' and Pasadena, are revising plans for the erection of a two-story and basement parish hotise and rectory on Euclid avenue, between Union and Ramona Gtreets, Pasadena, for the All Saints Episconal Church.

Cost Is estimated at $225,000..