The morning call., 1893-09-09
Real Estate Continues to
Improve.
BARGAINS READILY MADE.
The Present Is a Good Time to Buy
and Shrewd Investors Seize
the Opportunity.


have false impression Of the present
situation. They think that real property
is to be given away almost, and. satisfied
their conclusion is right, they won't buy
for some time to come.
The sooner they get rid of this idea the
better for themselves. No special fore
sight is needed 10 see an upward tendency
in the market, for despite the money
striDgency there is no marked stagnation
of business. More substantial buildings
are going up now than ever before, or at
least for many years at one time.
The release Of some large mortgages in
dicates an easy money market. During &
this week releases were unusually heavy,
from VIII ich the natural inference is that
people are able to command ready money
to lit mortgages on real estate. And 1t Is
worthy of due consideration to note here
that realty must have solid basis of value
when owners can pay out large sums of
ready cash nowadays to hold their prop
erty. One release OF $4,000 was g ven
j. b. Emmal on property on Jones. Jessie
and Howard streets. The heaviest loan
was $4,000. made to Carolina de Santa
Marina on property at Drumm and Cali
tornia streets. Archbishop Riordan re-
ceiyed $4,000 from the Hibernia bank on
property at Hayes and Fillmore streets
and Hayes near Polk.
Regarding San Francisco, Umbsen's
Rea! Estate Record for September very
truthfully says: "There are but few
places 10 the world where more homes are
owned by the mechanic and laberer, and
one, we believe, where the wages are
higher or the per capita savings in the
banks greater. Most OF this money has
been accumulated for the purpose of buy
I ranV nj fnI
slringency prevails throughout the world
is the time to buy. Remember that the
small capital can to-day buy improved
land, that is 10 say, where streets have
been graded and sewers built, in the su-
burhs of this city, at prices greatly below
similar property in Eastern cities. How
long can this last?"
The situation is summed up tersely in
Magee'S Circular as follows:
There were 800 sales made last month
in this city, of the total value of 1871. 962.
The market is improving slightly. Prop
! erty has been held very t1rm, but now sell
ers are more inclined to sell at market
value. When the price Is shaded on any
| good property ready buyers are found.
We note that the prin cipal demand last
month has been for lots under $1,000 and
| for houses and lots from $500 10 S5O0O
| Every real bargain offered is readily sold.
There were 267 mortgages recorded last
month, OF the aggregate value of S795,523,
and 191 releases, of the total value of S476,-
| Cos. No loans involving disbursements Of
new m oney have been made by the banks.
All loans maze were simply renewals of
old obligations. The money market, from
ali appearances, is much easier than it was
a month ago. The time Is not remote
when the banks will again resume loan
ing"
Mertens & Lang have dissolved partner
ship, and are succeeded by n. II. Lang &
| ~ hos nd hrOf~
Office at % Montgomery street
| w. ID. Bovee, senior partner of Bovee,
| Toy 81 Co., has retired from business. He
has reached his SEVENTEEN year. and con-
siders himself entitled 70 rest after a use
| full and honorable career in business, For
thirty years be has been engaged In the real
estate business. and in that time has sue
ceeded in building up first-class trade.
He will be succeeded by George L. Toy,
but the old firm name will remain un-
changed.
Sol Getz g. Bro, IS Post street, report
the following sales: Lot 25x120 ou the
west line of Eleventh avenue, go feet
north of street, for $1,000; lot 5Ox120 on
east line of Twenty-third avenue, $50 feet
south of K street, for $500; lot 25x120 on
east line OF Twenty-first avenue, 225 feet
south of street, tor 5000; lots in block
81, Excelsior Homestead, for $1,000.
Jacob Heyman reports sales as follows
One lot in Arlington Homestead, $3.50: two
lots in Excelsior Homestead, $500: four
lots In Abbey Homestead. $500; TWO lots,
outside land block 40, $500; two lots. out
side land block 756, $500; one lot in Hey
man Tract, $1,000.
Fisher & Go. report the following trans
fers during the latter part of August: Lot
| on west line Of Dolores street, north OF
| Twenty-seeond, 25x125, S2250; house and
lot, S24 Bush street, lot 2lxI37 :6, $4,000: lot
on north line of Clement street, near
rfh XVII Iof
teenth avenue. near Clement street. 50x120,
$500: house and lot, 2412 Greenwich street,
! lot 26X137 Is. $3.50; lot on south line Of
| Wallace street, near Masonic avenue, 25x
14S, $500; lot on north line of OFarrell
street. east of Octavia. 27 :6x120, $1,000; 25
to 2712 Moss street, four fats lot 4Sx75,
$500; cottage, 1926 Howard street, lot 25x
IS. S5125.
O'FarreIl & Co. report the following
sales: Lot on west line of Fifteenth
avenue. near c street, 50X120, $3.50; lot on
east line of Collingwood street, 217 feet
south of Nineteenth, 27x1l4, S1240; lot on
north line of Hayes street, near Lyon, 25x
1877 Is. two fats of five and six rooms,
$1,000: lot on north line OF d street, near
Eighteenth avenue, 50x100. $500; lot on
east line OF Franklin street, near Francisco,
6S :9X137 :6, S2S00.
Building contracts as follows were re-
corded during the past week: Southeast
line of Precita avenue, near Mission street,
frame building. $500; on Julian avenue,
near Fifteenth street. dwelling, $4,000;
Jersey street, near Castro. two-story tene-
ment. S3400: three-story frame house on
Hyde street. near Geary, $500; piles and
excavation ON Pacific street, near Sausome,
S1175 for brick building to cost $4,000 /;
frame dwelling on Broderick street, near
California, $4,000; cottage on California
street. near Laurel, S17O0; Eighth. near
Natoma, masonwork anu excavations,
S2467. briekwork S2432. carpenter work
5000.
A contract to add brick story to the
building, 11l9 Stockton street, for SLIGO,
has been let TO j. f. Hills.
Four frame buildings on the water front,
one on each corner OF the block bounded
by East, Battery, Filbert and Greenwich
| streets, are to be erected by the Luning
Company. The cost will be about $40, 800.
Bids are asked for wing at the United
States Marine Hospital. for work at the
Home for Predetermined Children al
Glen Ellen and for the French Hospital.
The mem bers OF the Builders Exchange
net yesterday as IA Post street and voted
$1,000 cash TO the Midwinter Fair. Pay
ment OF the money was made forth with.
A lnD4- ~ A-ly.