Mayo-Wright Properties stock certificate 1928 (California) - apartments of the stars

Rare Hollywood star apartments from the 1920s. Beautiful vignette of a classical female figure with wings. Issued and not cancelled. Dated 1928. Vertical folds from storage. Signed by Preston Wright as president, made out to his wife Maude Alice Wright. Measures approximately 11 x 7 inches.   

Mayo and Wright started as building contractors who got into real estate development during the 1920s in Los Angeles, CA.

The company built the Los Altos Apartments, 1925-1926 in Los Angeles, CA. Though long rumored to have been commissioned by newspaper magnate William Randolph Hearst, the Los Altos Apartments were in truth constructed for Luther T. Mayo and Preston S. Wright of Mayo-Wright Properties, Inc. by architect E.B. Rust.

Upon its opening, the exclusive five-story Spanish Colonial-style building consisted of 75 custom-designed apartment units, each of which was individually owned.

During its early heyday, Los Altos was home to many notables, including Jane Novak, Clara Bow, Bette Davis, June Allyson, Peter Finch, Douglas Fairbanks, Judy Garland, Loretta Young, and Mae West.

Hearst was also rumored to have kept an apartment there for his mistress, Marion Davies, but, from what has been gathered, it seems he may have actually used the space for the much less illicit purpose of an office. The group of investors included William Randolph Hearst (1863-1951) and Marion Davies (1897-1961), the actress. Hearst and Davies had a long-time relationship, and both owned apartments in the building. Hers consisted of 8 rooms (and 5 bedrooms) on two floors.

The Los Altos eventually ceased being a co-op and was turned into a traditional apartment building. During the Great Depression, the property went bankrupt. It fell into disrepair, and more and more tenants vacated the premises.

By the early ‘90s, the site was virtually abandoned and set to be demolished. Neighborhood Effort, a nonprofit development company, stepped in to rescue the historic structure in 1993 and ultimately returned it to its original glory. Los Altos was added to the National Register of Historic Places in 1999.

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