The morning call. [volume] (San Francisco [Calif.]) 1878-1895, 1890-11-01
REAL ESTATE.
Thomas Magee's Review Of the
Market for October.
Condition Of the Money Marke.-Inorease Of
Deposits in the Savings Banks-List
Of Representative Sales.

The number of real estate sales made in
October was 507, of the value of 81, eco, 2S6.
In the previous month of September 523
sales were made, of the value of So, 1872 553.
In October, 1889, 567 sales were made, ag-
gregatng So, l53, 716. Real estate is holding
is own well, despite the strong efforts made
by buyers 10 force concessions In prices. 1t
continues to be true that small differences
are now preventing the closing of sales
numbering at least one-half the total trans
actions of each month. We have never
known such large number of transactions
TO be on the verge of consumma-
lion. They continue 10 drag along. too,
without being closed. For one large prop
erty S191, eco is offered; $4,000 will buy it,
For another 500, 600 is offered; SCI, 600 will
take it. For another property $4,000 is
offered; SIG, 700 will buy it. For another
the 18th; S12, $50 would have bought it. The
owner then advanced the price to $4,000
No buyer of any judgment allows such
differences TO keep him from closing a sale.
We may state III this connection that in all
Of our purchases we have hardly ever bought
any property at the price we thought we
should pay for il. We always had to pay
more, and in all such cases we would have
been very foolish not to have paid the eX-
cess the seller demanded. Buyers now say
that The market is a falling one. and
thati instead of being refused the
conc essiuns they ask they should get
larger ones. Owners do not agree with
them, and so about one-half the sales which
might be nrade are hung up, waiting for one
side or the other to give way. The demand
for all kinds OF income property, below say
$4,000 in price, is very good. There are
still lar more buyers than sellers for such
property. Homestead lots in every portion
of the city are in less demand. The market
was oversupplied by a rush of credit-auctlon
sales four to eight months ago. Its natural,
therefore, that there should be luli. We
are glad TO note one desirable fact and that
is that there Is more inquiry for large lots to
buy or lease for factory, lumber and other
heavy business uses than we have, perhaps,
ever known. 1t is likely that one of the
heaviest branches of the lumber business
will be moved to Channel street. Whether
the late purchases along the south
east line Of Brannan street, between
Fifth and Ninth, are for an i'm
menSe storage, brewing and manufacturing
company, or for an opposition overland rail
Tnad company, we do not know, but in
either case lbut much more in the latter
than in the former they will benefit the
South Beach and Mission Bay region. If
owners there desired emily to maintain a
nolsOme nuisance and to keep their lands
from advancing in value. they could not bet
ter accomplish both objects than they have
been doing The filth, the stagnant water,
the standing sewage, the universal dumping
ground for all namable aud unnamabe
20 garbage which are now TO be found at South
Beach, beggar all description. No one hay
ing any respect for his nose or eye win go
down there to either see or smell for him
self. We eyid, nily either have no Board of
Health at all or only one that shuts its eyes
where they should be must vigilantly open.
MONEY on HAND.
1t is matter of wonder at all of our saw
ings banks where the money comes from
which pours in from both city and country
IL deposits. Loans now and for months
past cannot be made to overtake deposits
and receipts of interest. Every day at
these banks, no matter what money may be
drawn out by one line of depositUrS. that
deposited by line Of old or new depositors
Is sure TO exceed the total sums drawn out.
Interest Is being paid up fully by both city
and country borrowers. One bank has re-
celVed within sixty days $3.50, COO in interest
from country borrowers, the fall when crops
are sold being the time of year when most
money IS received from the farmers and
wool and meat growers and butter-makerS.
Our savings banks have lent out over $780,
coo on first-class bonds ON call loans at Az to
5 per cent within sixty days They have also
accommodated all city and country borrow
ers; yet the money keeps accommodating SO
fast tuat ii is doubtful whether the present
rate on city real estate of per cent, the
banks paying the mortgage tax, can be
maintained. Money is in quite too large a
supply just now to render it likely that it
can. One of our savings banks we know,
Will take tirst-claSs real estate loans in large
sums at 81 per cent, aud one other, we
hope, will soon follow suit. Whatever in
Gicall0nS OF fall in city real estate there
may be, none of them are found in the
money market, for the supply is not only
large but superintendent, rendering it GER
tain that interest rates will not advance,
while it seems almost certain that they will
decline The total number of mortgages
recorded last month was 39S, of the value of
Slt9S, $50; the total number of releases was
21I, OF the value of S657,6I6
MARKET STREET
Market street, from Montgomery to Va
lencia, makes a very good showing for per-
manent improvements. There are now
seven substantial brick and stone buildings
in course of erection, viz, the fine Croker
Building, corner Market, Post and Mont
gOmery streets; the Hibernia Bank Build
Ing. corner McAlliSier aud Jones streets
the DonOhoe building, corner Market and
Taylor streets and Golden Gate avenue;
three buildings on south side of Market
street, between Sixth and Seventh; the Doe
Building, corner Market, Larkin and Hayes
streets; the Nightingale Building, corner
Market and Oak streets and Van Ness
avenue, and others in contemplation. The
property for sale on our main thoroughfare
is all held, as Market street always has been
held by the owners, very firmly. Every one
JtdllAGS iliS ktui z sdIuC VI @hdl hGl olltts
We understand tenants have been secured
for most of the above new buildings, and
they are well rented, paying about z per
cent Oh the investment
SALE ON BRANNAN STREET
Some twenty fifty-yara lots on the south
east line OF BraInan street, between Sixth
and Ninth, have been sold to one buyer one
Of our most prominent lawyers. The real
buyer, We are told, is very large ST. Louis
company, which will combine half a dozen
industries on the land bought. Among these
viii be the shipment of frozen meat cold
storage for fruit, vegetables. ETC., on a very
large scale, and also very large brewery.
We OF cOuIse do not know whether this is
true or not But the sales named have been
made. Among other properties absorbed,
we are told, is the old Spreckels' sugar re-
fnery and LOT 275 feet square on the south
corner Of Brannan and Eighth. The opin-
ion Of many is that the buyer is some new
railroad company,
REPRESENTATIVE SALES.
The property northwest corner Stockton
and Pacific, 137 6X50 in size has been soli
for $50. coo; price put in deed So Alley in
rear.
An undivided half interest in the lot north
side Pacinc avenue, $40 west of Laguna
str ct 6S :9X137 :6 in size, has been sold for
$1,000 10 the owner of the other half in-
teTest.
The 50-vara lot southwest corner Broad
WY and Buchanan street has been sold for
$4,000; quoted by some Of the daily papers
at $4,000.
4 he property south side Suffer street,
about center Of block, between kearny and
Dupont, has been sold for $4,000; price put
in deed $40 Seller guaranteed Dupont
street tax t. date Size of lot 25xl22 to rear
alley, with 25x70 on Suffer adjoining.
The middle 50-vara lot on the south side
of Union street, between Broderick and
Baker, has been sold for $1,000.
The 50-V.ra lot on the northwest corner
Of Union and Scott streets, 137 IS feet on
each street, has been sold Tor S12,5O0; not
yet Of record.
The property on the north side of Bush
street. 137 Is east of Mason, 81 :6x120 to alley,
has been sod for $4,000; the lot is 30 feet
or so above grade.
The property on the north side of Page
street, 16j west of Franklin, 54:6x120 in
size, has been sold for $50, 500; one-half
block from Market street.
The lot aud some old Improvements on the
southeast line of Rrannan street, between
Eighth Ninth lot .0y071 in size has