Carmel Investment Company Building (1925), Photo by Lewis Josselyn.

The Carmel Investment Company was one of Carmel's oldest real estate and insurance businesses in Carmel-by-the-Sea, California. The building has also been refered to as the Glassell Building and the Perry Building.[11]

 

History

Carmel Investment Co., North side of Ocean Avenue between Dolores and San Carlos Streets  (1930s), photo by Lewis Josselyn

In 1908, James Franklin Devendorf moved the Carmel Develomnet Store into the Albert Otey building, which was located across the street on the site where Hobart P. Glassell later built his stone building on Ocean Avenue in Carmel-by-the-Sea, California. The building has also been refered to as the Glassel Building, the Perry Building, and later the Carmel Investment Company Building.[11]  Lewis Josselyn photographed actor and producer Arthur Cyril, a prominent actor and producer, in front of the Carmel Investment Company alongside  Hobart P. Glassell's "Cabbages and Kings"  shop on Ocean Avenue.[4]

Cabbages and Kings, Walker Shoreshine, and C. J. Arne barber shop on Ocean Avenue in 1928. Louis S. Slevin photograph.

The buildings on this block between Dolores and San Carlos Streets changed ownership in the 1920s and 1930s:

  • An older building became the Bank of Carmel constructed in 1938 (lots 8-9)[13]
  • Carmel Investment Co., and Cabbages and Kings (lots 7, 10)[13]
  • Walker Shoreshine (Bernard Wetzel Building) constructed in 1916 (lot 6)[13]
  • C. J. Arne Barber Shop in 1923-1928, which became Bank of Carmel before moving (lot 1, 5) in 1938[13]
  • Palace Drugs Co. (lot 4) in July 1923[13]
  • Carmel Development Company Building constructed in 1902-1903 (lots 2-3)[11] 

Arne's Barber Shop was moved to lot 6 and the Bank of Carmel was built on lot 5 in June 1923 for $7,000.[13] The Bank of Carmel moved to lots 8-9 when a new building was constructed on these lots in 1938.[1] 

The Carmel Investment Company was initially founded by Leonard W. Perry and later acquired by producer Edward G. Kuster.[15] In 1921, the Perry's building was occupied by the Carmel Investment Company realtors and Lee E. Gottfried, a building contractor in adjoining offices, with Hobart P. Glassell's Cabbages and Kings in the other section. Glassel sold imported yarns from Scotland and his own hand woven wools and apparel. [14] .[12] The building is in on Lot 7 and half of 10, on block 71, on Ocean Avenue, between Dolores and San Carlos streets.[18]

In the 1920s and 1930s, the Carmel Investment Co., sold lots for the Del Monte Properties Co.,subdivision called Carmel Woods located at the northern city limits of Carmel-by-the-Sea and adjacent to Pebble Beach.

In 1922, the Carmel Investment Company was manged by Richard "Dick" W. Johnson..[17] The property later came under the ownership of Johnson.[15]

In June 1925, John D.  "Jack" Holt, nephew of Joe W. Hand, purchased the insurance and real estate business from Richard W. Johnson. Holt conducted the insurance business at the office of the Carmel Investment Company.[19]  L. E. Gottfried and John D. Holt published a fictitious name ad in the Carmel Pine Cone saying they were the only persons interested in the business.[20] 

In 1926, the building was sold to Constance S. Lowell that also housed the Cabbages and Kings, Carmel Investment Company, and the Cinderella Shop. [11] [13] That same year, Janet Prentiss of the Cinderella Shop bought the building occupried by the Carmel Invement Company and Cabbages and Kings for $15,000. [16] In 1927, real estate transfers between Lowell and Glassell to Prentiss were published in the  Californian for this lot.[18] 

In 1931, Robert Parrott and Donald Hale joined in partnership under the name Carmel Investment Company. Hale was engaged in the building business and was member of the Gottfried & Hale. [9] Subsequently, the business owned by Jack Holt was merged with it, resulting in shared ownership: Holt retained a half interest, while Lee E. Gottfried and Hale shared the other half. Eventually, Hale acquired full ownership.[15] According to Carmel Planning Records, other owners were: Bernard Wetzel (1923, 1925), and Benjamin F. Wright (1924, 1926).[13]. 

Carmel Investment Co., showing main building made with Carmel stone with two enterenaces and large windows, photo by Lewis Josselyn

On October 15, 1936, Barnet J. Segal purchased the Carmel Investment Company on Ocean Avenue between Dolores and San Carlos Streets, from Donald Hale.[11]  [15] In July 1940, Segal moved his Carmel Investment Company into the old Bank of Carmel building,[1] [3] next to the Carmel Drug Store, near the Carmel Development Company Building on Ocean Avenar near San Carlos Street..[2] It later became the second location of Wells Books Store, owned by writer Henry Meade Williams.[13] (10] 

The original building was replaced with the current the building that we see today, which is a retail store in front and Flaherty's Seafood Grill & Oyster Bar restaurant in the back. To the left of the building was the Bank of Carmel (now a retail store) and to right of the front building is the Bernard Wetzel Building, which is next to a real estate office.[13]

See also

References

  1.  Richard N. Janick (November 30, 2002). "Department Of Parks And Recreation" (PDF). Department Of Parks And Recreation, State of California. Retrieved June 21, 2022.
  2.  "Ground to Be Broken For Bank at Carmel". San Francisco Chronicle. San Francisco, California. 22 May 1923. p. 7. Retrieved 2022-01-17.
  3.  "Carmel Notes". Oakland Tribune. Oakland, California. 14 Oct 1923. p. 25. Retrieved 2022-05-24.
  4.  Daisy F. Bostick, "Carmel--at Work and Play,".Seven Arts. 28, 1925,. p. 38.
  5.  Seavey, Kent (2007). Carmel, A History in Architecture. Carmel-by-the-Sea, California: Arcadia Pub. p. 114. ISBN 9780738547053. Retrieved 2022-01-16.
  6.  "CITY OF CARMEL-BY-THE-SEA HISTORIC RESOURCES BOARD MEETING AGENDA" (PDF). Carmel-by-the-Sea, California. 19 Dec 2016. Retrieved 2022-01-16.
  7.  "Opening of New Bank Building Set For Tomorrow Evening at 6 O'clock". Carmel Pine Cone. Carmel, California. 1939-06-23. Retrieved 2022-01-17.
  8.  "City Of Carmel-By-The-Sea Downtown Conservation District Historic Property Survey" (PDF). City of Carmel-by-the-Sea. 2019. Retrieved 2022-01-17.
  9. "Realtors Combine," Carmel Pine Cone, February 27, 1931, page 13. 
  10. "Segal Office Moves to Old Bank Building," Carmel Pine Cone, August, 23, 1940, p. 2.
  11. "Facts and Quotes," ATribute To Yesterday, 1941, Sharon Hale, pages 35, 186.
  12. "Certificate Filed," The Californian, Salanis, California, November 26, 1921, page 8.
  13. "Documents and Records," Carmel Planning Commission, December 12, 2022
  14. "Items Of Interest," Carmel Pine Cone, November 24, 1921, page 7
  15. "Don Hale Sells To Barnet Segal," Carmel Pine Cone, October 23, 1936, page 1.
  16. "10 years ago,"Carmel Pine Cone, March 26, 1937, page 2.
  17.  "Carmel Investment Company," Carmel Pine Cone, February 23, 1922, page 9.
  18. "Real Estate Transfers," Salinas, California, Californian, Saturday, March 12, 1927, p. 4.
  19. "Business Notes," Carmel Pine Cone, May 9, 1925, page 2.
  20.  "Know All Men By These Presents," Carmel Pine Cone, June 6, 1925, page 8.

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