San Fernando Mission Land Company, whose major shareholders included Los Angeles businessmen Henry E. Huntington, E.H. Harriman, Edwin T. Earl, Joseph F. Sartori, and Harrison Gray Otis. One day after the city water commission, on which Moses Sherman sat, approved a proposal to build an aqueduct from the Owens Valley, the Company quietly exercised its option to purchase Porter's land. On July 29, 1905, the City announced its plans to bring water south from the Owens Valley—water that would only be made available to city residents. Construction began in 1908 and water from the Los Angeles Aqueduct reached the San Fernando Valley in November, 1913. Real estate development once again boomed. In the "biggest land transaction ever recorded in Los Angeles County", a syndicate led by Harry Chandler, business manager of the Los Angeles Times, with Hobart Johnstone Whitley, Isaac Van Nuys, and James Boon Lankershim acquired "Tract 1000", the remaining of the southern half of the former Mission lands—everything west of the Lankershim town limits and south of the old furrow excepting the Rancho Encino. As the Los Angeles Suburban Homes company, they laid out plans for the towns of Van Nuys, Marion (now Reseda) and Owensmouth (now Canoga Park, West Hills, and Winnetka), a system of highways, and eventual incorporation into the city of Los Angeles. In the "Sale of the Century" in November 1910 they sold the remaining livestock and non-land assets of the Lankershim Farming and Milling Company at auction. The Los Angeles Times called the auction "the beginning of a new empire and a new era in the Southland". The City of Burbank was incorporated in 1911, and the Pacific Electric Railway reached Van Nuys on December 16, 1911, Owensmouth on December 7, 1912, and San Fernando on March 22, 1913. In 1912, Carl Laemmle broke ground on a permanent movie-making facility on the Providencia (Oak Crest Ranch) in the hills east of the mouth of the Cahuenga Pass that would become the first location of Universal City. Universal City moved to a new location, the Taylor Ranch in 1914. In 1914, Carl Laemmle broke ground on Taylor ranch for the New Universal City in the hills east of the mouth of the Cahuenga Pass that would become the second location of Universal City in the San Fernando Valley, Universal City. Annexation Valley farmers offered to buy the surplus aqueduct water, but the federal legislation