The morning call. [volume] (San Francisco [Calif.]) 1878-1895, 1892-09-01
REAL ESTATE IN TEE CITY
Good Retail Property in
Active Demand.
BENEFITS OF COMPETITION.
The Stable Value of Montgomery.strss Prep
Il eity-Lumber Continues Cheap-A -
!: Good Time to Build.

August: r; -: 49,.
" Real estate was dull In August, which is
one: OF the three summer months in which
Little put dnllness. even in "a lively :year,.is
to be expected But: 1892 has not thus far
been "a lively year, therefore August, like
+ June. and July, was unusually STILL. The
+ total mum Der of sales made last month was
425, OF the value.of S3,330, $50. The sum of
81 Q40, 900 was added to the sales last month
by the consnmmnti0n, despite all protests,
:ol theiniquitous Postoffice job. The market
is, largely oyersuppled with property, for
which there are few buyers-that is, with
Iacant lots In the outer suburbs. and outside
lands, the latter four to six miles from the
city center. Many*of these lots, however,
we believe, were sold on the credit system.
either. at auction : or private Is ale. The
prices ..of : all :" such lands have de-
*clined: within. the last. sixteen months.
f On*the other hand, the market Is greatly
.undersupplied with: property that has not
suffered decline, namely, good: retail prop:
*erty. paying d fair income. There are doz-
=ens:of bnyers-for such. property, with very.
+ little Tor SALE Buyers willing to pay as
/ kigh prices for such property as prevailed
/ in the: more lively times of 1SS9;90 and part
Of 1891, .lt:will be noted. that.we do not in
| of active demand. Ithas sufferedin price
and: rents very much. through loss Of whole
l.sae trade It,will recover: both by the
| movements. to- free the city from the
monopoly of the Southern Pacific Railroad.
livery new steams ship and salling.yesSel line
established and railroad built is an: aid to-
l"both w holesale and retail business. @but
/ especially to; the former. South Beach
| property: lis In: better request since
|: the sale Of two .tifty-varas and build
/ ing on: the northwest corner of Sixth. and.
Tow send to the Baden a battoir aud Cold
I Storage Company. and the lease~to:it OF two
/ :Other fity-yara 10 IS. 0pposite; sThe slmflar
l-e0npany at R0de0, across the: bay. has:
leased Tor ten years.. With a clause In the;
Whichit sniay:purchase,th the four
/ fttyyara lots on northeast line Of Sixth,
i.s0ntheaSt line of KING. and northwest line.
EQf Berry streets. The company: will lat,
Eonce build on these lots. There is a fair de-.
l*nland for lots and residences and lots. be-
Tween California: and Pacific, Y an Ness,
l. and say DeyiSader0, .espec ALLY where the
priee the lots does: not. exceed .S990Q to
So, 900; and that Of the residences and lots
SIS, 000to $4,000. =: ~. ~. -:
:. There ;were:>,367 mortgages recorded in
| August, amounting 10: S1,2l0.136. and 2Q3
releases, of the valneof Sl,147,1S7. -.
f. More street work: has been: done within
I the past:two years along. the routes of the.
Ferries and. Cliff roads, on Jackson. w ash:
*ngtOD, Clay, Sacrament to and cross streets
contiguous to them, than in any other por-
+ ton OF the city. The road had to pay for
|; part OF this street work, thatis to say; be-.
Tween the rails. between the tracks and for
two feet outside the tracks, eighteen feet in
/ all where the tracks are double. The result
|. has been ain. enormous outlay: by the conf
| panY. It's street-Work bills .hayeamoilnted
Ito $4,000 for eighteen months. orat:the
tate OF over $1,000 per .month. :. But for. tn is
| heaVy1eXpendItuTe for:stree work the road:
In ava taaFf a yiA
/ Its earnings are now increasing SO thatwith-
|. ina year tile first dividend will be paid
| The most OF the street work to be. done is
| now completed along. the routes ca st and
Mestand north and south where the COM
pany's. cars run. Bituminous rock mostly
WAS laid on the streets, but in allsueh cases
the company laid. stone BLOCKS instead be-
tween its tracks, because it. did not believe
that bitumnous rock would prove >lasting,
aud it wanted permanent pavement, which
would avoid a second tearing up of streets
| between its tracks. r..
The Eaglish Consul at SAN Francisco has
given EGglish immigrants coming to Cali
fornia some very wise advice. Ee tells
them not to buy LANDS. here for Embarrassing
| purposes until they. have spent a wear in
the districtfu which: they purpose to;:bny.:
By acting on this advice: each buyer can be-
|: come thoroughly posted on the value of
| fruit lands, their products, the net profits
they are likely TO yield, taking one year
| with another: Tbe stranger Will thus be.
| best able to Judge what price he should pay
for land. We have: heretofore urged land
| buyers to VISIT all portions of the State in
which the land products he desires to raise
| are successfully grown. BY cOnceallng
| his. intention to-. buy and by asking
| questions everywhere, lie gradually but
| surely gets thoroughly posted. If ne desires
| TO engage in Embarrassing, lie should eS-
-peelally visit orchards and vineyards and
/ continually ask questions. IL previous.
buyers have been seduced in paying too
| high prices, or II they have been otherwise
deceived, they are sure TO vent their grley-
ances, when information is sought from
them, and thus the pro posed buyer gets his
eye-teeth cut on the file of other peoples
experiences. There Ia no other Nay but this
| *f0r' stranger to be posted. The lying
boomer cannot get away with the buyer
who TINS takes time and asks innunerable
questions from all sorts OF persons before
he invests. Those who buy without long
and patientinvestgatien get misled almost
inevitably. -.
It's noticeable fact that the Southern
Pacific Railroad Company did not, through
its organ, the Sacramento Record Mon, at
tack San francisco as a town without enter
prise and an enemy of the interior, until
the city began to display enterprise in the
support OF water routes and the building of
new railroads. which will break the back of
the Southern Pacific monopoly. 1t Is oGr
Southern Pacific. We are breaking up es-
tablished subsidy arrangements to rob the
people and maintain eXtoEtiODate railroad
charges, and this Is crime that cannot be teo
severely condemned by indirect stabbing
/ and wholesale untruths.
The full benefits of ocean competition
can neither be fully seen nor reared by San
Francisco until we have local railroads run
ming from this city TO the head of the Sacra-
mento Valley ON the north and to the head
|: OF the san Joaquin Valley on the south,
| with an overland road to Ogden on the east
/ With such roads and the Cape Horn steam
and sail lines San Francisco will be as free
from Southern Pacific monopoly as if that
octopus did not exist Indeed, with the
water routes and the. two main valley
local railroads named, this city will
rule the situation. =. But with the
road east to Utah and the building of the
Nicaragua canal. which will shorten the
time now consumed by steam and sailing
vessels two-tbirds, San Francisco will be-
come In point OF Importance at least and at
once the third great seaport OF the world.
All OF these changes and advantages she
may have within five, and certainly within
ten, years. Wholesale business and real
estate are now both very dull; nevertheless
we do not know Of any city In which we
would as soon invest or which has more
certain future than this city. But there are
now mountains OF difficulty in our way
which only courage, hard work and the
expenditure or: about thirty millions
of dollars will remove. If We have
not this courage-if we willnot do this work,
and il we will not spend the money-the
great benefits will not be- realized and the
best times the city has ever seen Will not
come. We evil not deserve either that they
should. In this sense we should rejoice in
hard times, and be thankful for the difficult
ties that surround us. Men are Ioade by
overcoming Obstacles. IL we will not put
nnr l1Qrg w M
down deep into our pockets to develop the
State, and through it the city. we deserve to
| lose our trade and that the real estate
market should be dull even to deafness.
| Leasing property fot period of ninety
nine years without revaluatioD is becoming
more aud more the custom in Chicago, and
| the great benefits investors derive there
FROM. are daily being recognized. 1t Is