The morning call., 1892-06-04
HENRY P. UMBSEN.
a Real Estate Mans Impressions After
Visit East.


Henry P. Umbsen of the real estate firm
of G. II. Umbsen & Co. of this city has re-
Gently returned from an extended tour Of
the Eastern States. Asked for his impress
sions Of the country beyond the mountains
MI Umbsen said:
AS had never before been out of the
State you can easily imagine that have had
very interesting trip. l visited many
Eastern cities. and from all [ saw and
heard while absent my belief in the future
development and greatness of this State
and city was confirmed. l was especially
interested in Denver and Chicago, the
former with its beautiful residences and
well-laid- out city, some COCO feet above TIL
level of the sea, and the latter with It's
massive blocks of buildings apparently
reaching almost to the skies. The very
fact that both these cities are important
railroad centeTS IS the basis of their sue
cess. San Francisco is greatly handicapped
by its distance from the pOpulous Eastern
States, and this is the true cause OF its
siowness of growth in spite of all its
natural advantages. Nothing can oYerconie
this draw back except greatly increased
transportation facilities, both by land and
water. Great relief Will now be afforded
our commercial circles by Grace q Son
line of clipper ships between this port and
New York, which commenced running on
the LIST OF the present month.
81 found the knowledge of California pos
seSsed by the ordinary Eastern man very
limited and vague, in fact but little more
definite than that possessed by COrteZ IN
the sixteenth century. He believes that l.
is a beautiful country, but much subject t.
earthquakes, these temblorS, in his npiu-
ion, being much more dangerous than the
cyclones, billiards and floods, to which use
has made him callOus This was the case
even before the late shakeup in the interior,
and when that came his opinion was con-
hrmed in spite of the fact that no damage
was done outside the downfall OF some IN
securely built structures. a devastation in
no way to be compared with the death-deal-
ing cyclones which have lately laid bare
vast districts on his side of the Rockies.
Earthquakes are his bette nOir, and / verify
believe the fear OF tembIOrs has prevented
thousands CT Eastern people from settling
In California. Owing TO the eXaggerati0n Of
some OF the home newspapers many b.
lieved that severe earthquakes we're of CON-
mon occurrence here; in fact, | heard more
about earthquakes while | was away than
ever before. The fact ought to be made
patent to the world at large that during the
American occupancy of California only
slight damage. so slight in truth as to b.
hardly worth mentioning, has ever been
done by earthquakes, and that the State has
been entirely free from other disturbance
Of all kinds.
what about comparative values? 1t is
very difficult 60 draw any comparison be-
tween real estate values in New \ OTk aud
san Francisco, because the immense DODu-
latlOn OF that city cOmpelS style OF living
even among people of a respectable class
which we are glad to state does not exist
here For instance. tenement buildings
which will accommodate 20 families are
erected upon a 25Xl00 foot lot. 1t is self
evident that under such circumstances the
land must be valued on the basis of tin
amount Of interest it can he made to pas
upon the sum invested. With so great
demand for houses the actual value of th
ground has increased pro rata with TIL
amount of rent it can be made TO earn, an
the interest to be obtained to-day from in
yeStments in New York property is lower
than that obtainable in this city, in spite oil
the number and height Of the improvements
crowded upon it. The only difference in
real estate investments. IN favor OF New
York, is the greater certainty Of obtaining
and keeping good tenants, which is insured
by the larger population OF the Eastern
city. think that the same reasoning VIII
apply to every large city on the other side
Of the R0ckieS-at any rate, l found it so In
Chicago, Boston and Philadelphia.
Is "As to extreme outlying lands around
the large Eastern cities desire to point out
that very eXtTaYagant prices are asked and
obtained, against which outside land prices
here are very insignificant, even when the
difference in population, etc, are taken
into consideration. / therefore consider
that all things duly weighed our suburban
property at present prices is about the best
investment | have seen. San Francisco is
very young, but before many years the CITY
will cover the entire county. Then | sup.
pose the true value of our enYrOns viii be
fully understood. In no place did find in
vestments in either residence or business
property paying better per centum than
in ri tu -