The morning call., 1891-01-05
REAL ESTATE.
Large Transfers Of City Property
Have Been Made.
What the Savings Banks Are Doing-1m-
Provements Suggested Oakland Brokers
Review the Market.


Henry P. Sonutag, of Shaiuwald, Buckbee
& Co., cautiously responded to request
for a review of the business of last year aud
an opinion regarding the outlook for realty
owners and agents. 'Our firm has mad an
extraordinarily successful. year," said he.
The business which we have transacted
has been composed for the most part of
large transfers, such as the Nucleus House,
which was sold TO Senator Hearst for $780,
600; the Eiebes property on Market street,
near the Baldwin, sold for SS25,0OO to Mrs.
Anna Donahue, and also the Trinity Church
property, as well as many business sites.
Our sales aggregated in the neighborhood of
S5.OO0.OOO. We anticipate a prosperous year
in 1891. depending to a great extent on the
condition of the money market, when. OF
course is stringent at present. San Fran
cisco is in very good financial condition.
There are many wealthy houses here having
IL big capital. The savings banks have
large amounts on deposit, and ind
it hard to make their loans keep pace
" it'll their deposits and at the
same time pay lair rate Oh
interest on the money. Several OF the larger
savings banks in order to procure high rates
have loaned millions of dollars on country
property in this vicinity, in the southern
portion of the State, and in the neighbour
hood of Tacoma and Seattle. On these
loans they receive from to 10 per cent
interest, and some of the savings banks have
increased the rates paid to depositors from
4 or AZ per cent to . or 515 per cent. One
bank alone has S23, 600 loaned on San
Francisco property, and even than was COM
! =. =,
procure interest for depoSitOrS, 1t is prob
able that the money market will be easy
about February. Almost 100000 have
been paid into the City Treasury for taxes,
and the disbursement of this amount will
- soon be commenced. The dividends of the
principal corporations will be paid during
this month, and all this money will soon be
in circulation. The tightness of the tinan-
cial market. which is invariably felt at this
season Of tne year, would be avoided III
great measure If the taxes were made pay
able Semi-anuually. Under the present SyS-
TEN the taxes for the entire year become
payable ut time when merchants collect
their bills, the banks call in their loans, aud,
at the same time, Eastern houses draw upon
their customers for all the money they can
get to tide them over their difficulties.
san Francisco, in proportion TO its pOpu-
latiUn, is the wealthieSt ely in the United
States. From time TO time rich merchants
settle up their business affairs and invest
their means IN Income property to obtain a
fixed and steady revenue. We are assured
from recent information received from our
Eastern correspondents, that California is
receiving much attention from capitalists.
Eastern money is sure to ind its way TO this
State because OF the higher rates of interest
which can be procured from income prop
.erty here. Rates Of interest will be lower
every year, and, naturally, the value of
property viii increase, to c0unterbalance
the reduction in Interest.
Last year witnessed greater improve
ments IN the matter Of laying out and open
ingup new streets, and grading and beautify-
ing property, than during any single year
in the last ten. The cable system has
greatly Increased the value of suburban
property, bringing land on the outskirts
nearer to The center Of the city, and opening
up tracts Which formerly seemed mae
cessjble
" We look upon the real estate prospects
IN san francisco as very bright. We do not
expect sudden Use in values until the ad-
vent OF another trauscOutlnental line, and
1t Is good Tor property holders, as well as
buyers, that there should be no undue infia-
ton. Some Eastern towns have adopted
the option system, which is simply real es-
tate gambling. In San Francisco we have
avoided this, and the present system of bar
gains and sales VIII likely continue
we are strongly in favor of the
city issuing S-per-cent bonds for the i'm
-provement OF the sewerage system, for the
VHtu4he VI H6W SlIttlS, LOT the repairing
and maintenance in good condition of sucl
streets as may be accepted by the city. fol
the construction of the boulevard along the
ocean front and for the improvement of our
public buildings. Ten years ago property in
the vicinity OF the park sold at from S25 to
so per loot which IS now in active demand
II from ol25 to $3.50 per foot. With these
results before US 1t is reasonable to con-
clude that the assessed value Of the property
In the neighOorhOOd of the proposed i'm
DTOgempUTS WOU.n IDrTa9sa 81 ranidlV n
the tax levied on the increased va,ue would
not only pay the interest on the bonds, but
would also provide for the principal of the
bonds before their maturity, without in
creasiug the rate of taxation. In other
words, the increased value of property re-
sulting from tie expenditure Of this money
would repay the sum expended, with the
interest, during the twenty-five years for
which the bonds would be fioated."
j. W. COLEMAN
j. W. Coleman is offering some very de-
slra0le marlne-vlew property on Jackson
street, near Laguna, with frontage on the
former OF 1872 feet, and improvements, con-
slstiag of two houses of six and seven
rooms and bath; also, business sites, and a
$4,000 investment property, yielding hand
some lnceme.
s. DUCAs
,. Ducas, who makes a specially of Bernal
Heights property, has found the market
steady during The year, and he reports fair
ohdiN VI tlIC buSlutoS DTluclDdllV III sales of
lots in the aboye-named locality. He claims
that property in this section, within a short
distance of the new City Hall, is cheaper
than lots elsewhere at an equal distance
from that point.
OCCIDENTAL LAND COMPANY.
Charles L. Dennis of the Occidental Land
Comnany made the following statement to a
representative of The CALL yesterday:
" Considering the season of the wear and
the prevalent dizziness our company has
transacted very fair business, particularly
IN Oakland and country properties. We
handle property in Tehama, Fresno, Kern,
Lake, Monterey, San BenitO, Mendocino and
1olo counties. We offer special bargains in
Kern County lands, purchasable on the in
stallment plan. We also handle city prop
cry, ana nave made specially of lots south
OF the park. Three years ago we sold lots
IN that locality for $50. and we have now
these same lots listed at $3.50 The pros
poets Tor the year 1891 appear yery bright
ana II VIII probably be as prosperous as the
last.
M'GARvIE & co.
This firm, whose office is at 628 Market.
report considerable demand during the lat
ter part of last year for property of all
classes, and they predict another prosper
Gus year. The fact that SO many Eastern
capitalists are seeking investment in this CITY
lead them to believe that real estate trans
feTs during the ensuing year will exceed in
the aggregate those OF any previous season.
CHARLES W. POPE.
p ''The year just ended has been very salts
-. factory one, as far as my business is CON
.ceIned. | have always had the utmost con-
hdenee in San Francisco as a safe place Tor
real estate investment, and during resi-
dence OF neary quarter of a century. dur
Ing which have made many purchases of
pIoperty, MY belief i'll the future of this citv
has been justified by the results. | have no
dOub; that the future Of San Francisco ie
just as promising as it has been in the past
and that its population in the next decade