The morning call., 1893-11-01
REALTY REVIEWED
Property That Is Most in
Demand.
CITIES IN COMPARISON.
Money Is Coming In at the Savings
Banks and There Are Prospects
for Good Business.

That the real estate market continues
without material improvement is vouched
for by the San Francisco Real Estate Cir
cular for November, published by Thomas
Magee. which says: The best demand is
for small and medium priced houses and
lots worth from S25OO to $4,000 and for
vacant lots worth from $1,000 to $500
each. There is some inquiry also for busi-
ness properties worth from $4,000 to
5000. Business is much restricted by
the fact that the savings BANKS are not
lending, and that depOslt0rs cannot Tor
the moment Immediately get all Oh their
money if they need It, But neither OF
these causes tends so much to restrict
sales as the belief or rather the nope OF
buyers that so long as the banks are not
lending on the one hand, or paying out to
depositors without restriction on the other,
prices may recede little more and they
be thereby benefited. The only class OF
city property which has suffered much is
outside lots which were doomed and sold
on the credit system. Real estate is stand
ing the scarcity of money better than any
other commodity. Heavy taxation, with
very little to show for it and deficit in
city finances, are solid deadwelghts on
property.
Tie total number of sales for the month
Of October 2S3 value SS4S. 3S1; mortgages
141, value $3.50, ,609; releases OF mortgages
ISL. value S751,095.
Under the caption, won't buy when
prices are low," il is held that IL Solomon
we're again upon earth and proclaimed
that this is the time to buy city real estate,
because prices are low, not one money
holder in a score would listen to him. The
n lii have
and courage to buy with the small and wise
minority. They will only buy when the
crowd buys and when prices are nigh.
This is the rule, and that 1t is rule of
folly no thinking person Tor moment
doubts.
The pretty general belief that savings
banks will soon be lOanng money because
the financial situation has improved with
remarkable rapidity is noted. Notices OF
Withdrawals on the part of deposltorS are
every day decreasing, and deposits, In talr
volume. are every day coming In. Judg-
ing from present appearances, when the
time comes for payment of term deposits,
the majority of this class at deposltors VIII
not take the money they filed notices for in
the senseless scare Of June last. The
banks have now no fear but that they can
meet all the demands made by both ordi-
nary and term depOsitors. The TACT is That
the more depositors view the situation the
more the majority OF them conclude tnat
they cannot, as far as actual safety is con-
cerned, do better than keep their money In
the savings banks.
Interest from borrowers is coming In
very we'll indeed, considering the general
scarcity of money. 1t is now possible, too,
to collect loans due on collaterals. Large
depositors have given the banks most an
noyance in asking for their money, the
evident object OF many of them being to
force values down, and as buyers then
take advantage of the situation. They
have not yet succeeded in this last effort,
and we do not think they will succeed.