San Francisco Call, Jul. 25, 1912

Full Text:

Owner Tells Equalizers What Happened to His Tract When Boom Collapsed

OAKLAND, July 24—What happens when a boom city collapses was explained by Fred J. Russell in pleading with the board of supervisors today to reduce assessments on Russell City property. He asked to have the lots assessed at $20 each Deputy Assessor Hedemark said:

"You have a sign up now advertising these lots for sale at $100 and you have sold a great many of them for $300.