The morning call. [volume] (San Francisco [Calif.]) 1878-1895, 1891-02-04
REAL ESTATE.
Action of the Exchange On the
City Cemetery.
What New Bank Proposes to Do for Thrifty
PeopIe-Flats Badly Needed-Liver-
Inore's Succsssors-Notes.

style for the offices and meeting-rooms of
the Pacific Coast Savings Society-a new
bank which was referred TO about week
ago in THE CALL, when its incorporation
papers were filed. Only now, however, have
its aims and character been announced.
The Directors and officers of the concern
are: Wendell Easton. President; William
C. Murdoch, Vice President and General
Manager; A. C. Stevens, George w. Frink
and George Easton, Directors; the Anglo
California Bank, Treasurer. 1t has been
organic with capital of S50,O0o0OO, Tor
the purpose of doing mutual savin gs-oank
and building and loan business. The CALL
representative, in a conversation with Man.
ager Murdoch yesterday, was given the fol-
lowing description of the new banks char
acter:
COOPERATIVE BANKING.
1--WE are organized" said Mr.. Murdoch,
"upon what is known in the Eastern States
and Europe as the cooperative banking
system. 1t is purely mutual, with all the
advantages of the permanent building and
loan and modern savings bank combined.
The purposes Of the society are to encour-
age frugality and promote thrift aud
economy among its members, by providing q
medium by which their savings may be
anu Sdlcl9 iufcetCQs W iso
members in acquiring real estate, building
houses and improving the same; to devote
the money ordinarily paid for rent to buy
ing homes for themselves and families.
ABOUT STOCK.
"All shares mature when the payments
and earnings amount to 500. When an in
yesting members shares mature he surren-
ders his stock and receives 500 per share;
when a borrowing members stock natures
he is out of debt to the society, his mortgage
is satisfied and both his note and stock are
Cancelled. Our funds are loaned only on
first mortgages on real estate aud TO share
holders. which security becomes greater, as
the borrower repays portion OF the princl-
pal each month. There are no forfeitures,
ard member can either reduce the number
of shares which he carries and apply the
payment already made to lesser number
or he may withdraw the amount he has paid
with interest. a member can make pay
ments in excess of the amount required and
withdraw the same at any time and any por-
ton of such payments.
FOR THE FARMERS
81 have resided in Colusa County for the
| last seventeen years and have been engaged
| in the banking business most of that tine.
| have for long time known the difficulty
! which small farmers have in obtaining loans
upon lands. 1t is frequently impossible for
them TO do scat their local banks, as COM
| mercial loans pay the banks better rates OF
| interest and are convertible, and national
! banks are not allowed 10 loan upon real es-
| tate. 1t therefore becomes necessary Tor
| the farmer to obtain his loan in the larger
! cities. This is done at an enormous expense
| to him for examiners brokers and attor-
neys' fees. Mr.. Easton and myself are both
familiar with country land values. aud pro-
pose to meet the wants of farmers and
landowners in the agricultural portion of
the State where values are fixed and per-
manent."
THE CEMETERY CONDEMNED.
A meeting of tue San Francisco Real Es-
tate Exchange was held yesterday after
noon at the exchange to consider the queS-
ton of the cession of the City Cemetery to
the Government for harbor-defense pur-
poses. This matter was first agitated when
the exchange considered 1t on January 18th,
at which time the report and resolutions
adopted yesterday were originated. Presi-
dent BOvee, of Boyee, Toy & Co., occupied
the chair, and Messrs. Carnail, Toy. O'Far-
rell, Reynolds, o. ID. Baldwin, Baldwin
| and Hammond were present.
In voluminous report by Major Ham
mond on the question before the board, a
minute description of the well-known Point
Lobos promontory was given. reference to
| Government reports on the place made, and
| wise suggestions offered
After some discussion OF the report the
following resolutions were offered by Mr..
Toy and unanimously adopted:
WHEREAS. The san francisco Real Estate
Exchange, having special prIde aud interest
In The prosperity aud growth Of our city, feels
assured that the continued existence OF The So
called City Cemetery Is detrimental to the best
interests OF the city and its inhabitants, aud
whereas, II is now proposed BY the United
States overnment to condemn for the purposes
of public defense certain portion OF Tie ceme-
terry, therefore be IL
Resolyed, That a committee OF Ave. represent
he a. hp a al fnn a.ftf ont
10 respectfully urge upon the honorabls Board of
Supervisors the adyisablity OF condemning The
entire cemetery, aud TO further urge That tue
amount received from the Government for that
portion OF said cemetery TO be condemned by IL
be applied TO the establishment aud Improvement
OF new City Cemetery more suitably located
and the removal thereto OF the bodies inferred in
the present cemetery
And II Is further recommended by the ex-
change that that portion OF the cemetery not
taken by the Government be, If practicable, i'm
proved Tor park purposes, or If possible, disposed
OF IN such mannei as 10 Insure TO the city ad-
ditlonal PARK area
1t Is further resolved that the exchange tender
to tie municipal authorities Its services free
from any fee, commission, brokerage or charge
whatsoever In the work OF procuring another site
Of In appraisements or details relative 10 this
matter.
NOTES AND SALES.
The best kind of improvements to make,
those for which there is the most request
are cheap flats of four or five rooms
which would pay fair interest at from SIC
/ W 2SS ptl tHOulI, otyS ". ODlDSe1 u
Co.'S Real Estate Record. These and cot
tage houses OF about the same rent and ar-
commodation are most in demand.
The real estate business of the late o.
Livermore, which includes agencies for
many big estates, Will be continued by
Messrs. Dawson & Leigh, who were for
merly connected with the Office of Mr..
Livermore.
Wendell Easton went to Southern Califor-
| MIA yesterday and will stop there for TWO
weeks on business and recreation.
w. /. Morgan & Co. report an active mar
ket with ready purchasers whenever owners
set reasonable prices on property for sale.
T.. ID. Saltield IL Co., who are making a
specially Of park panhandle and Preside,
Heights property, report brisk inquiry.
OFarrell IL Lang sold an elegant resi-
dence and lot 30x106 3, south side of Fred
erick street, between Masonic and Ashbury,
Mrs. NJ. A. Fritz to Mrs. Richardson, for
$4,000.
McGarvie & Co. sold five lots at $500
each, south of the park, on easy terms;
also four lots in Block ll46, same place, for
$500 each.
p. A. Dolan g. Co. report the sale of
house and let corner of Twenty-second and
Florida streets, for $1,000.
| A IL Breed IL Co. purchased Block 1147.
| outside lands, fronting on the Ocean Beach
boulevard. one block from the Ocean
House, which they are now selling in lots.
During last week they sold ten lotsssin
| Block S36.
BUILDERS CONTRACTS.
Louis +, Dunand with b. J. Malone.
| alterations on northwest corner Chatta-
| n0oga and Twenty-fourth streets, 25x78;
| S2075
Gustave Hueter with Jacob Wagner,
brickwork on southeast corner Twenty-fiflh
and Mission streets, east 115x65; $780,
Gustave Hueter with Schutt &c Krecker,
carpenter work, etc, same; $1,000.
y. King with Mcmillan & Mauer, to