Domingo Amestoy facts for kids
Domingo Amestoy, whose birth name was Dominique, lived from 1822 to 1892. He was a Basque sheepherder and a banker. He helped start the Farmers and Merchants Bank in Los Angeles, California. This happened in 1871.
Domingo Amestoy's Life Story
Domingo Amestoy was born in a Basque village called Saint-Pierre-d'Irube in France. In 1851, he traveled to California. He came by way of Argentina.
He began a small business raising sheep. In just a few years, he turned it into a large fortune. During the 1860s, he became one of the biggest wool producers in Southern California.
In 1871, a new bank opened in Los Angeles. It was called the Farmers and Merchants Bank. Domingo Amestoy bought $500,000 worth of shares in this bank. Buying shares meant he owned a part of the bank.
In 1874, he returned to France and got married. The next year, in 1875, Amestoy moved his family to California. They settled on 650 acres (2.6 km2) of land. This land was part of the "Rosecrans Rancho". Today, this area is known as Gardena.
By 1880, Domingo Amestoy owned more than 30,000 sheep. Most of these were merinos, known for their fine wool.
In 1889, he bought all 4,500 acres (18 km2) of Rancho Los Encinos. This large ranch was located in the San Fernando Valley. Domingo Amestoy passed away on January 11, 1892.
After his death, his sons, John and Peter Amestoy, took over the ranch. They changed its name to Amestoy Ranch. Like other ranches in the San Fernando Valley at that time, the Amestoy family grew wheat and barley. The Amestoy family owned the rancho for 55 years.
In 1915, parts of the rancho began to be divided up. These areas later became the communities of Sherman Oaks and Encino. The Amestoy family kept 100 acres (0.40 km2) of land. This included the old adobe building. They sold this last part of the property in 1944.
Domingo Amestoy's Legacy
A person's legacy is what they leave behind or are remembered for. Domingo Amestoy is remembered in several ways.
- Amestoy Elementary School in Gardena, California was named in his honor.
- Amestoy Avenue in the San Fernando Valley also carries his name.
- Amestoy Avenue runs for about 7 miles (11 km) from north to south. It goes through neighborhoods like Encino, Reseda, Northridge, and Granada Hills. It stretches from Ventura Boulevard to the 118 Freeway.
