The morning news. [volume] (Savannah, Ga.) 1887-1900, 1892-09-03

During the last year the real estate market
has been devoid of exciting features. No
attempt has been made to force suburban
holdings by the owners thereof, and such
sales as have been made were the results of
the property being sought Tor by investors.
The ownership being in companies and syn
dicates able W hold, and committed by
their interests to uphold prices, their policy
has been one Of wisdom, and the results are
compliments to the tact and Judgment of
the owners and their advisers-the dealers.
The position OF suburban lots has been
greatly strengthened by the ABSORPTION or
well located lots in the city, and by the ex-
tension of new lines of street cars into new
sections. The building OF new electric lines
and the equipment of horse car lines with
electricity are doing much toward building
up the suburbs, thus connecting them, by
rapid transit, with the business portions OF
the city.
The portion OF the suburbs Immediately
south OF the city, in what is known as "tba
extended limits" is already attracting
much attention, and is receiving recognf-
ton as the future residential section OF the
city. Arrangements having been made for
the extension of the water mains through
that territory, 1t will now he built up rap
idly, and will be a repetition of the history
of the section south of Gwinnctt street,
which was built up with handsome resi-
dences, as 1t Were in month. In the last
few months several neat homes have been
built and a large number have been re-
Gently contracted for and will be COM
pleted within few months.
entire year there has been a healthy de-
mand for improved property and for we'll
located building sites. This has not been
from the Investment class, but from the
homeseekers, and has included all classes of
property, costing from 81 900 up. A very
much larger business could have been done,
but for the paucity of the offerings. There
has been an astonishingly small amount of
property on the market. Well located
houses sell readily, at prices that speak
well for the confidence that buyers have in
the future of the city.
The recent experiment of local COM
pany in buying block of lots and building
single houses for sale has proven very sue
cessful. Every house was sold almost as
soon as finished, and so well is the company
satisfied that they have recently had plans
prepared and have contracted for more
than double the number OF houses first
built.
The demand for houses for purchase will
be greater this fall and spring, and thu rent
ing demand has already commenced with
an earnestness never before known.
All of the conditions are present for a
healthy and even vigorous market for the
new commercial year.
The entire community are ia q better
financial condition than they have been for
years. Many who had purchased property
their payments and are not only out of
debt and have their property fully paid for,
but have small accumulation of cash and
are ready to "go in again"
Those who were Weakened, and were
holding back to see what would become OF
the old town, are now satisfied that we have
great future before us, and that we are to
be that great seaport which must be located
som ewhere on the south Atlantic coast.
The successful settlement of the deep
water project has already had favorable
effect upon the real estate market, and in
itself is sufficient cause for an advance In
value of any piece of property in the city,
and is a sufficient stimulus to make a real
estate investor of every citizen. Too much
importance cannot be attached to this as
one of the principal factors in Savannah's
future greatness. 1t will certainly put her
in the front rank of the seaports of this
country, and make real estate in this city a
most desirable investment, and one which
is sure to pay large profits.
Another important element In causing
activity in the market is the railroad situs.
ton. The Central has ''come home to stay."
to be operated by those not adverse to the
city's interests. The Savannah, Florida and
Western railway, on account of rapidly
Undertaking. competition, will naturally
make rates TO discourage that competition.
and which will rebound to the advantages
of our trade. The South Bound railroad has
opened up new avenues OF trade, brought 10
our city officials and clerks to add to our
population, and now makes a combination
which secures to us another railroad which
means competition north and south In rail-
road rates to our great benefit. The "Sam"
Continued on Fourteenth Pa1e.