The morning call., 1891-04-01
MAGEE'S CIRCULAR.
A Monthly Review of the Real
Estate Market in this City.
List of Representative sales-A Good Market
Without Excitement, But With Very
Firm Prices

| the following extracts:
/ Money is in abundant supply at the savings
banks but there Is nothing like plethora of it,
| so that intending city borrowers. who are wait
ing for reduction OF the rate OF interest TO per
cent gross, say 41s per cent net, by the savings
| banks. will wait, we fear, In vain. We need
hardly say that we regret TO announce this fact;
| we wish The expected reduction 10 6 per cent
| had really taken place. The city rate at the
| savings banks is per cent, and on country
property the prevalent rate is per cent, with an
| occasional exception in large sums on exeep-
tlonaIly good security at Z u per cent. We wish
| all country loans were made at per cent. We
feel sure that is high raie as the grazing and
flaming lands OF the State can afford to pay aud
leave even living to the cultiyatOr. The de-
mand for money at all OF the savings banks has
been very good, both from city ana country Dor
rOwerS. The total number of mortgages recorded
in February was S57, of The total value OF ST.
7S3,3O9. TIL number recorded in March was
402, aggregating LOGS, $50.
The real estate business never was in more
healthy state. There is steady, all-arOund
business at full prices EXtraVagant rates are
nowhere being paid except for far-outslde lots.
worth 500 10 $3.50, for which poor victims, who
pay In monthly nstallments, are now paying from
$500 10 5000. There has not this spring so far
been break in prices anywhere, although, but
for The rain OF TWO months ago, weakness
would undoubtedly have occurred. There is an
excellent demand for business properties, and
prices higher than any before paid would we
know, now be paid ii buyers could find property
in The precise localities they prefer. Properties
from one To two blocks north aud west OF Market
street never were In such strong request;
higher prices than ever yet reached are
being paid for them. AS an illustration,
We may note the sale OF lot aud sbanty,
% ;6x137:6, on east side of Powell, one and
half blocks north of Market, az S25, 900. aud the
eXtIavagant prices lately paid on Ellis. west OF
POWELL The inquiry Tor property n Orth OF and
near 10 Market Indicates that retail business is
spreading aud groang. As much can hardly be
said of wholesale business. Honest ead lots
worth $500 TO $500 are al the present lime III
more request than large residences lots. The
prices of the latter however, in the district most
m request-that IS TO say, between California,
Broadway Van Ness aud Ldguna--nrVer were
so nigh. Owners, indeed, IN all portions OF the
city have reason TO be satisfied with prices gem
orally. Tie total number of sales made IN
March was 62S, OF the value OF S2,3l4.3 64,
against GAL sales in February, of the aggregate
value OF S2,95S, 452.
TAXEs NO LONGER TO BE PAID AT ONE TIME.
Payment of taxes on the In5Iallment plan Will
somewhat eguallZe the heavy burden now re-
| CURED by The present system. oil which so many
| complaints have heretofore been made. The bill,
| winch We believe has not vet receiv' the gna-
| tue OF the Governor, but 10 doubt Will, pro
yldes that tile first nstalnent Of the State, per-
| snnal ana real esIate taxes becomes delinquent
| on the fourth Monday In November. aud II not
| then pad penalty OF 10 per cent attaches
THIS Is an OutIageuunly high charge. The flual
| inslalimeut becomes delinquent the fourth
| Monday of April, when an additional penalty
| OF . Ter ceat is added, alter which the usual
| sale for DELINQUENT taxes tdkeS place. II VIII be
| observed that the payment Of taxes is not COM
puIsory until lie fourth Monday OF Aprll. Uut The
very heavy penalty Of / . per cent leaves Outyefy
little choice to the taxpayer, Tor we presume mat
few VIII care TO obtain an extension OF hve
| months at such heavy cost. Tue only objection
| which may be urged 10 The lnstailnitnt plan in
| this city is the frequency with which Tie TAX
payer VIII be called 10 meet his obligations TO the
city and State. In July Tie city ana county per
~ u hA the Ind
| fourth Monday Of November the hIst hall OF the
| State taxes will become delinquent. and prior 10
| the f0uith Monday of April tie remainder OF all
| taxes VII! be- payable. The system winch we I'M
| deTstand prevails IN some Of the States East,
| Offering a certain deduction an lnducemeul to
the early payment Of taxes, would uuqGesiion'
| ably meet with more favor Than the outrageous
! penalty OF is per cent imposed by this new law.
But. bad as lhis penalty Is we desire 10 see the
| experiment made, as no doubt 1t VIII prove OF
| some benefit over the present system, which
cleans tile city OUT OF most OF its available coin
| every December, thereby creating temporary
| famine.
EXCHANGE OF TICKETS BY THE UNION AND
HYDE STREET CABLES.
The new lines OF the CaIifOrnId-Street cable
road Will be running In few days. One branch
runs from Jones and Market streets, along Jones
/ to Bush. along Bush to Hyde and along Hyde 10
the bay aud North Beach. The other bt auch
runs tom Ma ket aud O'FJrrell streets, along
O'Farreil 10 JOn-s, and by that route to connect
by either The CaiiioG uia-street lie TO the Gene
terry Of by the JOneS-street line TO North Beach.
1
trAaster At Union ana Hyde streets win the
Unlon-Str Ell Company. and now, therefore, for
the hTst Time IN us history, the Union eel
caEle line WIZ be enabled to laud passengers
somewhere. IL heretofore practically landed
| them UOwhere-that Is, IL set them down at
Washington and Montgomery streets, portion
| OF The ely where few people desire to 20. Ii IL
| true TIVE UuIou-stleeJ Company had there a
| horse-car connection with HE ferry, via Wash
| ington ana jackson streets, but Il was
| too slow 10 be OF much value. The main Point,
! however, 10 which wish to call attention is
| that the Union-street cable Passengers, by the
| transfer system named, can now reach California
| aud hearny Jones and Market OF O'Farrell and
| Market coming downtown, or start from either
| OF these three points Oh the way home and be
| transferred at linton aud Hyde TO The Union
| str Ell cable The UniOu-SITeet Company is about
to extend its cable from The present cable terni-
| nus, at Union and Steiner, along Union TO Baker,
and down Bakerto Greenwich or Lombard only.
The steam line Will not be abolished, but VIII be
| continued from Baker and Lombard or Gieen-
| wich to the Preside. One dummy Instead OF Two
| will then only be needed for the shortened Sc v
| ice. meeting Of the stockholders OF the Union
street line is called for the 17th OF this month, to
| provide ways and means. The UniOn-street
| road, with these changes, should now t1ke new
lease Of life. IL is The ouly Que of he cable lines
that has not paid. and Is the only one also along
whose line real estate did not rapidly and mate
rally advance This was due TO the fact that its
eastern terminus, at Montgomery avenue and
| Washington street, was. ike the old terminus OF
| The Clay-street cable-iine really nowhere. THIS
! Will now no longer be the case, and we therefore
| look for "A very decided advance IN real estate
| along the UniOnstree caole-llne, especially in
| land commanding fine view OF the bay. Land
| at Baldwin Park aud the blocks east and west OF
| II have all sold aC so TO go per cent less than
| land similarly situated on jackson, Pacific aud
| Broadway. That was because there was no
cable-lneS like those on Jackson and Pacific
| streets TO lake passengers rapidly ana directly
! up and down town 10 Market street and the fer
! ries. The change named viii therefore he a
| most important one. first upon the Unon-sueet
cable llue, and. second, upon all land on or con-
| tlgu0us IL It's line.
| WHAT THE WATER METER BUSINESS MEANS.
| In The latest report from tie Spring Valley
Water Company Il is stated that II the entire CITY
| were put under water meters the daily supply
| unused would 90 down from an asserted cou-
| sumption OF 20.43o,0 gallons to 10,0U0,0 900
| gallons. III meters finally reduce consumption to
/ this hGure II VIII mean lhat our sewers, now in
| adequately washed out IN summer by wa er sup
| piled by the water company viii then hardly be
washed out at all. This city has according 10
| The latest census report, 100000 people. The
| Spring Valley Water Company drew gross In
come from the city last year of 800, 900. This
| is So per year for every man, woman and child
| In this city.
| REPRESENTATIVE SALES.
| A New York life insurance company has bought
the property southeast corner Of Sansome and
California streets In three parcels. at the price not
| before made public of $4,000, rs follows:
| Southeast corner, 1858 on California by &c on
| SanSome, 100000; south side California, % %
east OF Sansome. 23X6G. $685. 900; east side San
! some &C south OF California, 23&71:3, SOS. 900
| also. The lot makes 48: % on California by SO on
SansOme with extra l. IN rear OF the Sansome-
| street lot of 23X23.
| Block 403 OF The Outside Lands. facing the
| park OH the north side, bounded by d and G
| streets and TweDiy-Ihird and Twenty-fOurth
avenues, has been sold for SGT 200. There is lot
S0X120 out OF tile b ock.
The property east side Fillmore, 1o7:6 south
OF Grove, 30X137:6 in size, has been sold for
] S4975; not y OF record.
| University Homestead Block No. SO, bounded
| by Silver avenue, S1iman, BowdOln and Dart
mouth streets, has been sold for S4lOO; NOT yet
| OF record.
The 50-vara northwest corner Larkln and
| Francisco, 1877 :6x137:6, has been sold for
| $1,000; not yet OF record
The properly south side Of Valley street, 175
east OF Church street, 81 :6X114 In size. has been
| sold for $1,000; not yet Of record.
The property west side Vermont, 200 south
| OF Sierra, 33:4x1O0 in size, has been sold for
$500; not yet OF record.
The lot north side OF West Park street, 200
he Be a