Dominique Amestoy
Encyclopedia
Domingo Amestoy was a Basque
sheepherder, and banker, one of the original founders to provide the financing for the Farmers and Merchants Bank
in Los Angeles, California
, in 1871.
in 1851. Amestoy started a modest sheep business and within a few years he parlayed it into a fortune. He was one of the largest wool producers in Southern California during the 1860s. In 1871, he bought $500,000 worth of shares in the newly established Farmers and Merchants Bank in Los Angeles. In 1874 he went back to France and married. In 1875 Amestoy moved his family to 650 acres (2.6 km²) of the "Rosecrans Rancho"
in what is now Gardena
. By 1880, he had over 30,000 head of sheep, most of which were fine-wooled Spanish merinos.
In 1889 he acquired all 4500 acres (18.2 km²) of Rancho Los Encinos
in the San Fernando Valley
. After Domingo Amestoy died on January 11, 1892, his sons, John and Peter Amestoy, assumed ranch operations and changed the name to Amestoy ranch. Like other ranches in the San Fernando Valley at the time, the Amestoys cultivated wheat and barley. The Amestoy family held title to rancho for fifty-five years. In 1915, subdivision of the rancho began later developing into the communities of Sherman Oaks and Encino. The Amestoys held on to 100 acre (0.404686 km²), which included the old adobe until selling the property in 1944.
was named in his honor. Amestoy Avenue in the San Fernando Valley was named in his honor. Amestoy Avenue runs approximately 7 miles (11.3 km) North-South through the neighborhoods of Encino, Reseda
, Northridge, and Granada Hills from Ventura Boulevard
(interrupted) to the 118 Freeway
.
Basque people
The Basques as an ethnic group, primarily inhabit an area traditionally known as the Basque Country , a region that is located around the western end of the Pyrenees on the coast of the Bay of Biscay and straddles parts of north-central Spain and south-western France.The Basques are known in the...
sheepherder, and banker, one of the original founders to provide the financing for the Farmers and Merchants Bank
Farmers and Merchants Bank
Farmers and Merchants Bank is a historic lending institution in downtown Los Angeles, California, USA, known both for its architecture and its pivotal role in the economic development of early Los Angeles...
in Los Angeles, California
Los Angeles, California
Los Angeles , with a population at the 2010 United States Census of 3,792,621, is the most populous city in California, USA and the second most populous in the United States, after New York City. It has an area of , and is located in Southern California...
, in 1871.
Life
Domingo Amestoy came to California by way of ArgentinaArgentina
Argentina , officially the Argentine Republic , is the second largest country in South America by land area, after Brazil. It is constituted as a federation of 23 provinces and an autonomous city, Buenos Aires...
in 1851. Amestoy started a modest sheep business and within a few years he parlayed it into a fortune. He was one of the largest wool producers in Southern California during the 1860s. In 1871, he bought $500,000 worth of shares in the newly established Farmers and Merchants Bank in Los Angeles. In 1874 he went back to France and married. In 1875 Amestoy moved his family to 650 acres (2.6 km²) of the "Rosecrans Rancho"
Rancho San Pedro
Rancho San Pedro was one of the first California land grants, and the first to win a patent from the United States. The land grant was validated by the Mexican government at in 1828, and a US patent validating was issued in 1858...
in what is now Gardena
Gardena, California
Gardena is a city in Los Angeles County, California, United States. The population was 58,829 at the 2010 census, up from 57,746 at the 2000 census.-Geography:Gardena is located at ....
. By 1880, he had over 30,000 head of sheep, most of which were fine-wooled Spanish merinos.
In 1889 he acquired all 4500 acres (18.2 km²) of Rancho Los Encinos
Rancho Los Encinos
Rancho Los Encinos was a Spanish grazing concession, and later Mexican land granted cattle and sheep rancho and travelers way-station on the El Camino Real in the San Fernando Valley, in present day Encino, Los Angeles County, California...
in the San Fernando Valley
San Fernando Valley
The San Fernando Valley is an urbanized valley located in the Los Angeles metropolitan area of southern California, United States, defined by the dramatic mountains of the Transverse Ranges circling it...
. After Domingo Amestoy died on January 11, 1892, his sons, John and Peter Amestoy, assumed ranch operations and changed the name to Amestoy ranch. Like other ranches in the San Fernando Valley at the time, the Amestoys cultivated wheat and barley. The Amestoy family held title to rancho for fifty-five years. In 1915, subdivision of the rancho began later developing into the communities of Sherman Oaks and Encino. The Amestoys held on to 100 acre (0.404686 km²), which included the old adobe until selling the property in 1944.
Legacy
Amestoy Elementary School in Gardena, CaliforniaGardena, California
Gardena is a city in Los Angeles County, California, United States. The population was 58,829 at the 2010 census, up from 57,746 at the 2000 census.-Geography:Gardena is located at ....
was named in his honor. Amestoy Avenue in the San Fernando Valley was named in his honor. Amestoy Avenue runs approximately 7 miles (11.3 km) North-South through the neighborhoods of Encino, Reseda
Reseda, Los Angeles, California
Reseda is a San Fernando Valley district in the city of Los Angeles, California.-History:The area now known as Reseda was originally inhabited by Native Americans of the Tongva tribe that lived close to the Los Angeles River....
, Northridge, and Granada Hills from Ventura Boulevard
Ventura Boulevard
Ventura Boulevard is one of the primary east–west thouroughfares in the San Fernando Valley, USA; as it was originally a part of the El Camino Real , Ventura Boulevard is one of the oldest routes in the San Fernando Valley. It was also U.S...
(interrupted) to the 118 Freeway
California State Route 118
State Route 118 is a state highway in the U.S. state of California that begins running west to east through Ventura and Los Angeles counties in southern California. It travels from Saticoy in Ventura County east to Lake View Terrace in Los Angeles...
.