Dominguez Land Corporation

The Dominguez Land Company was originally formed in 1911 under the leadership of Jared Sidney Torrance, who was company president. Original stockholders included Merris Hellman, Joseph F. Sartori, John S. Cravens, Dr. W. Jarvis Barlow, and Torrance. In 1911, they purchased 2,792 acres of land (at $350 per acre) from the Dominguez Estate Company and 730 acres from the Del Amo Estate Company (each owned by the daughters of Manuel Dominguez). That land was broken up into lots and sold off, eventually forming the city of Torrance, CA. In 1912, the Dominguez Land Company incorporated and became known as the Dominguez Land Corporation. Torrance was originally envisioned as a town where residence, business, and industrial lands coexisted. Workers in the town's factories and businesses could find a home close to their place of employment. Jared Torrance believed that a man who enjoyed his work and owned his own home would remain in the community and contribute to the community. This philosophy of mixed development is evident in the variety of land contracts sold by The Dominguez Land Company, which included contracts for business, industrial, and residential property. In 1921, oil was discovered in Torrance, and the Dominguez Land Company soon began offering oil land for sale. In 1922, the Dominguez Land Corporation formed a lease agreement with the Standard Oil Company, allowing the Standard Oil Company sole rights to drill for oil in the city of Torrance. In 1926, the Dominguez Land Company also sold a large portion of oil land to the Chanslor-Canfield Midway Oil Company. By 1941, the Dominguez Land Corporation had liquidated much of its assets. The remains of the company, including office furniture, records, and any future assets which may be found, were purchased by Remco-Real Estate Management Company, a company founded in 1927 by former Dominguez Land Corporation president, Donald Findley.

History

The Dominguez Land Company was originally formed in 1911 under the leadership of Jared Sidney Torrance, who was company president. Original stockholders included Merris Hellman, Joseph F. Sartori, John S. Cravens, Dr. W. Jarvis Barlow, and Torrance. In 1911, they purchased 2,792 acres of land (at $350 per acre) from the Dominguez Estate Company and 730 acres from the Del Amo Estate Company (each owned by the daughters of Manuel Dominguez). That land was broken up into lots and sold off, eventually forming the city of Torrance, CA. In 1912, the Dominguez Land Company incorporated and became known as the Dominguez Land Corporation.

Torrance was originally envisioned as a town where residence, business, and industrial lands coexisted. Workers in the town's factories and businesses could find a home close to their place of employment. Jared Torrance believed that a man who enjoyed his work and owned his own home would remain in the community and contribute to the community. This philosophy of mixed development is evident in the variety of land contracts sold by The Dominguez Land Company, which included contracts for business, industrial, and residential property.

In 1921, oil was discovered in Torrance, and the Dominguez Land Company soon began offering oil land for sale. In 1922, the Dominguez Land Corporation formed a lease agreement with the Standard Oil Company, allowing the Standard Oil Company sole rights to drill for oil in the city of Torrance. In 1926, the Dominguez Land Company also sold a large portion of oil land to the Chanslor-Canfield Midway Oil Company.

By 1941, the Dominguez Land Corporation had liquidated much of its assets. The remains of the company, including office furniture, records, and any future assets which may be found, were purchased by Remco-Real Estate Management Company, a company founded in 1927 by former Dominguez Land Corporation president, Donald Findley.