| Show BOOMING TOWNS A striking instance of its disastrous so long as there are real estate booms just so long may failures be looked for it is thy ambric in tendency to rush in and overdo pikes peak are bust safe halfway stations or not favored it is the growth of the cottonwood rather than that of alie oak in all the instances of real estate booms and consequent collapse it is safe to accord the palm td los angeles where many of the denver operators made money getting out in time to invest their profits in that city which lias something behind it besides sunshine and fresh air the fall in values at los angeles has been some thins remarkable since at oak knoll lots which sold two years aso for 1500 at present find no takers at larse tracts of alkali lands at one time laid out in lots but at present the j home of toads and jack rabbits are assessed at CO an acre and are not woith one tenth the sum and a list of properly can be shown which had been abold for prices aggregating and which at present are not worth their as value some eliut the inflation in town sites went to an extent that seems absurd to an outsider there were some sixty paper towns created in diu erent parts of los angeles county comprising town lots enough say for people and nearly 40 more lhnn there are in new york between fifty ninth and one hundred fifty fifth streets at present there are 2351 people living in these towns border city had 1920 lots and not a single 0 o take advantage of them chicago park 2286 lots and but a single occupant carlton boco lots and not an inhabitant and the same overwhelming population west glendale lots anil no inhabitants and sunset lots and one solitary watchman who looks after an expensive hotel and deserted town this shows the importance of sustaining real estate movements with a substantial growth in manufactures and an enlargement lar gement of trade territory terri tury the only permanent population is eliat which is profitably employed |
