The morning call. [volume] (San Francisco [Calif.]) 1878-1895, 1892-07-01


made on the avenue was of northeast cor
ner GcaTy and Van \ e5s, 40 on the avenue
by !O9 on Geery, with two plain houses, for
$40, 600. Men gifted with an eye to the future
know that Van Ness is destined TO BE- one
of the most valuable streets in the city.
Churches, thea,ers and clubs will all seek
it. We very much wonder that no theater
has yet been built upon tue avenue. 1t
would, we think, probably do better busi-
ness than any downtown theater. Geary
and Van Ness would be an excellent site
for the first theater on the avenue.
FINE PRIVATE RESIDENCE PROPERTY.
The best residence property in the city
now lies between California street, Broad
way, Van Ness avenue and Baker street.
and of this, the best residence portion OF
the city, its cream lies on Washington
Jackson and Pacific streets, between Cough
and Buchanan. Land in this latter district
is worth $500 tc $500 per front foot for IN
side lots and $500 TO $500 per front foot for
corners. The last sale made there was Of
the vacant lot on the northwest corner Of
Jackson and LagUna streets, IS on jackson
by 1908 on Laguna and an extra L in rear
on the north Sx33, for $4,000. These are
high rates, but they have held well, despite
the general dizziness. The northwest cor
ner Of Broadway and Laguna street, resi-
dence and lot, the latter being "a :4X137 g.
were sold recently for S26, 500.
HOMESTEAD LOTS.
Lots worth 500 to $50 front foot, out
In the direction OF the panhandle of the
park, aud also between Pine Golden Gate,
Fillmore and Baker, or at the Mission, have
all been rather dali of sale during the past
six months. This is due to the fact that the
market was wholly oyer-supplied with such
lots westward in 1882 1850 and 1891. Block
after block was cut up and sold at credit
f auction sale dhe result now - DECIDED
MISSION AND VALENCIA STREETS.
No sale at an advance over the prices of
1890 and 1891 has been made within the past
six months on any portion Of Mission or Va
lpDcia streets, between Twelfth and Thrift
eth Business, however, is surely, even IL
slowly, growing on both thoroughfares.
which are abundantly able to take care of
themselves.
OUTSIDE LANDS.
Outside lands, even the best portion of
them, ont By Lake, California, Clement and
Point LObos avenue, and between, say
First and Twentieth avenues, are not in
creasing in price; indeed, there have been
quite a number of sales at decline, but
their nuE3ber was not large nor the decline
great. South of the park prices have de-
clined very much, and will decline very
much more.
RAILROAD QUESTION AND REAL ESTATE.
The wonder now is not that real estate
should be somewhat dull, but that it Is not
dull even to the point of stagnation. Every
body feels that, at the very best, there can
be little advance until we have actual evil
Gence Of railroad opposition, both trans
continental and local. 1t has always
been our opinion that We need the latter
from north to south even more than another
both viii be best. Few know that we
already have most valuable opposition. via
Cape Horn, in an opposition steamphip line
making the trip in 90 days. The average
InItg IT. IA falstIf Moft
cost Of the latter line via Panama for dry
goods is SS4 er ton; by the opposition line
IL is but $40 per ton, and by the Southern
faeinc rail- lines it is S105 per ton. 1t takes
y days by rail to bring goods here from
New York. This opposition steamship Lire
| should AT once be so we'll patronized as TO
| cause II TO run steamships weekly. II OPP
posi- Ion Is lot now heartily supported, when
started and feeling its way, We deserve 10
| De more heavily taxed by monopoly over
| charges than we even now are.
THE REAL ESTATE OUTLOOK.
There is little prospect. for the reasons
herein indicated, of much in crease either in
the volume or value Of real estate sales dur.
| ing the next six months. But il Uncle Sam
indOrses the Nicaragua Canal scheme dur
ing this time. with the certainty that he
will keep control of the tolls to be charged
for its use, that would put a very different
face on cur city real estate, and would have
an Immediate effect both upon sales and
DIlNrS. nt pushing Oh an OpDOSiLlcu OFPT-
land road, either eastward toward or west
ward from Ogden, will tend strongly aud
favorably in the same direction. But with
out a certainty Of relief from one or both
sources we cannot expect real estate sales or
prices to be active or upward. We feel sure
however, that progress toward deliverance
from outrageous railroad oppression must
and will now be made, and that San Fran
cisco real estate will soon commend itself as
certain means Of investment to all out
siders. as it has always been the most
favored field Of Investment In the Judgment
| of its citizens.
SUMMARY OF THE MONEY MARKET.
A persistent belief that interest rates
should, and therefore that they would come
down. was INDUCED IN by real estate own
| ers during nearly all of the past half year.
| The leading savings banks by reducing their
| term dividend rate TO depositors from 5.4 to
81 per cent for the six months term just
| closed have to that extent justified this be-
| lief.
A few city loans have been granted al
| 6.5 per cent since the lst Of January, but
very few, z per cent has been the ruling
| rate. One bank granted some loans, we are
| told, at 6.5 per cent, although 7per cent was
| charged on the face of the notes, and went
! into print so; reduction of one-haif OF
| per cent was made on,the back of the notes.
| We believe honey should bring all it IL
worth, but In the present dull condition of
1 iNoi OotoeC tcduCcu icuto uldilS
vacancies and business Of most kinds dull,
J and profits generally reduced, we think JUS
/ tice TO borrowers who are as q rule the city
| and State builders and the burden bearers
| requires that their interests at such time
| should be very prominently considered by
| charging them rate-not the highest rate
| interest possible to exact, but the lowest il
| Is possible to grant.
| Viewed from this standpoint all of our
| city banks should, We shInk, be lending at
| 62 per cent
| We make these remarks rot in a spirit
OF iault-fndlng or of any pretense to or
oaght Of dictatiop, but of the utmost
So @{ze1 because of the general
<sz&&sass s. aness and of real estate what
s ~ + y " 80 9sst worthy OF consideration.
= 81 9z4&A be made palmer by our
bank directors the ques-
80 q u 49, ~ of them THINKS he could
III s. 60 rs RIch money by buying
~ 81 80 e ~ IS en- land he already
= u ~ 'Fs fH fie same as rents now
~ ~ <5kz{ Zthe money borrowed
~ 49, ~ sr annum. We know
a nm sWa a