Savannah morning news. [volume] (Savannah) 1868-1887, 1886-09-07

AS predicted last year, the adoption of a
more liberal policy on the part of the city in
connection with the erection of wooden
buildings has resulted In whole blocks being
bnilt up with fine residences, thus adding
materially to the revenue of the city. and
giving employment 10 artisans of all classes.
Ancxtension OF this policy northward would
do no harm, but res ult in large benefits to the
city and individuals.
Some impetus has been given to real es-
tate by the increased facilities afforded for OBJ
tanning money for the purchase or building
OF houses, etc. Heretofore a limited amount
OF money was oOtainaOle on real estate for
no longer period than one year at from 8
to 10 per cent. per anDum. Some lenders
were willing to run the risk of charging usu-
ri0us interest. During the last year, how
ever, Northern capital has been tempted by
) per cent. interest, long loans Al improve
ment in the manner of foreclosing mort
cages, to seek Investments here. Our own
people have consolidated their means by
monthly deposits in loan associations and
real estate companies, and VIC now have the
magnificent sum OF nearly six hundred
thousand dollars per annum accumulated
for this purpose.
The youngest company of the kind loaned
out nearly 100000 the first year OF its exist
ence. We lack ca pital for building purpo es !:
s per cent. can be readily obtained and the
loan made perfectly safe. In case of failure
to pay, judgment can be obtained and the
property sold at the same term of the court,
The strength OF real estate is shown in the
following facts: There are fewer available
vacant lots on the market, or puIchasable.
than was ever known before in the history of
the city. There are fewer desirable resi-
dences OF any class being offered than was
ever known. There are Il greater number of
persons possessing the means to purchase lots
and houses than has been known for years.
The purchase by the city of 100 acres OF land
near the city removes the probability of any
portion of 1t being put on the market in shape
of lots for some time TO come. IL also shows
that the city has been collecting a much
larger amount than is necessary TO meet its
| needs. and is therefore able to meet all obli-
cations ana even to reduce the rate of taxa
ton on real estate.
All desirable stocks and bonds are above
par, and at premlo III varying from 4LD25
per cent. None of them nay more than 5Q6
| per cent, and have therefore &C ased to be de-
sirable as investments. 1t must be poor re al
estate investment that does not pay better
| interest than per cent, while the enhance
ment of values often exceeds 80 per cent. The
! healthfulness of the city compares favorably
! with any of its size, and continues TO improve
/ with each succeeding year. Continued i'm =
| provement III tho drainage of the county and
| the lands in the immediate vicinity OF the
| city, new and better roads, paved streets and
| fine buildings, are all rendering real estate
| here more desirable, attracting population.
and adding at the rate of a million of dollars
| each year to the wealth of the city. These
| things cannot but help - encourage the peo-
! pie TO ut forth new efforts for Tie creation
| Of wealth.