A letter from an unknown author to William A. Morehouse in Los Angeles, California. 12 January 1914.
Entry/Object ID
2017.41.1.303
Description
A letter from an unknown author to William A. Morehouse in Los Angeles, California. 12 January 1914.
A typed, 2 page letter regarding the ability to purchase a 1/10 interest in a syndicate which owns a 300 acre foothill property between Walnut and Fallon, a couple miles East of the North Whittier Heights property. The 300 acres was bought by Edwin G. Hart and some people from Pasadena and Los Angeles at $350 an acre. The property was bought with the idea of either re-selling it whole or developing water for the holdings and dividing into tracts to sell as citrus land. The property is well located with drainage and foothill protection, which make this desirable citrus lands. Land in the North Whittier Heights property is selling at $700 to $800 an acre. One of the men who has bought into the syndicate has to many investments at this time and is willing to sell his 1/10 interest. The 1/10 interest is $10,500, of which $4000 has already been paid. William Morehouse would be taking on the remaining $6000, which runs for another 4 years at 6% interest. Mr. Hart says they can make enough money from the barley crops, currently planted on the property, to pay the interest and the property should be sold for considerable profit. The author would be happy to set up an appointment to have Mr. Morehouse talk to Mr. Hart regarding the purchase of this 1/10 interest as well as the plans of the syndicate for handling the property.
The pages have been glued together along the top and discoloration on the right side. Page 1 (a) has a heavy crease across the top from being folded, and abrasion damage along the top. Page 2 (b) has abrasion damage on the left side. This object is in good condition overall.
