The morning call., 1893-03-01


high prices oDly that he is always willing TO
raise assessments on the faintest sign of In
crease OF prices. but that 10 The strongest con
tinnous evidences of FALL he is frequently alto
geiher oblIyious. The Slate Board Of EquaiIza-
ton IN this matter treat The city sllli more out
ting the ruth In deeds IL is not to be wondered
at, IN view OF tile prevalent belief about assess
mehts, mat the great majority OF buyers put
homlnai considerations In their deeds.
How Life-llsurance Company Grew
Rich by Foreclosures.
One of the largest Atlantic insurance com.
IanIeS, PRIOR 10 1879, acquired real estate IN
New o, q, chicago and oIher eities amounting
~ r1,,ae nearly $4,000 600. Croakers loudly and
WideN ptopheslcd That The company would be
Dahktupted, as they did here In the kear neyiIe
timeS, eS, Wheh h our savings banks ownrd about
But the Insurance company MADE sl,645. 800 bv
reselling this property when Times Changed ana
fea! estate picked up.
Local Capital and Railroads.
One of The most promising signs seen here re-
Gently was the hTIsk competition exhibited IN
The purchase OF the DOnahue railroad some
-FOUR combinations of local capitalists connected
for Ihe road, A BID OF $40 share only was
but 1t was finally knocked down 10 MeSsrs
roster and Smith for SIS 20 a share. or $500
understand, tile heaviest buyer with the
gentlemen named The road was competed
Iof, , not as stock or other speculation.
'1ut as legitimate money-earning Investment.
we are assured ibat tne road will be extended
horihwaid 10 Humboldt County. IL VIII cost
about $4,000, ,OCO 10 40 his II Is high time Mr.
MeCreeTy invested some money here Fer about
thlfty years he has been OiI-TesId-ut. He is
one ot our largest business pTOUerly-owBers aAd
iiaS Tor that length OF lime been drawing very
large sums of money yearly from this cliy
which has mostly been spent abroad. His com.
lng mere and Investing money tor The benefit OF
and welcome.
An Easy Way to Acquire a Home.
Many husbands-probably, indeed the ma
J0rliy-earn salaries which only allow them 10
maintain their families comfortably. The ten
deney, whether tie head of the house is occupy
lng responsible position aud earning $4,000 to
$4,000 a year, or mechanic earning $50 10
Sl2O month. is TO live up to every dollar OF the
receipts. The majority OF these people are
hOuse-Tenters only. They DO think OF owning a
house sOme time. but In such an undecided ana
indehaiie way that years pass without ACT iGl..
much less realization of ownership. But
700 often the husband dies leaving the
Family without home or other proyi-
sion against want. Now, every married
man who does not own has TO rent a
home, and his rent, If properly utilized would in
nFe 10 Ten years pay for a home for him Five
hundred dollars to $1,000 paid down Will secure
she home. II he then can get clause inserted
IN Inc mortgage he gives for the unpaid balance
that lie can pay S1O0 more on account OF IL al
any time. interest on all such payments to cease
From The TIME they are made, lie will have Sc
cured most valuable privilege. I Ills is much
Detter than the regular Instailment mortgage,
cause sickness or want Of employment ile
quepu; prevents The debtor from meeting the
1Hstalmeut. while II at any lime lie pays tWo or
three instalments at one lime lie loses Interest
But under the plan we propose lie Is only re-
qulred 10 pay the interest, yet may also at any
time pay as much or little as lie likes on ac-
count Ot The principal, and tn reby lessen
Inc interest account. Husbands who thus pur-
chaSe VIII always be ably seconded In saving by
thei' wives. who, even II weak IN the direction
OF nne dry goods and French bonnets, VIII sacr-
nee even thesr, aud become more economical
thith eve; before, TO get the homestead debt paid
Oil This will be especially the ease II the nus
band wisely makes deed of gift of the property
good
lfhpe of love and respeCr. ana It should always
5e paid her. homestead thus purchased, even
II bought at price above It's real cash value. is
wisely acquired, for 1t stops rent-paying, which,
II kelt up for thousand years. never benefits
ihe renter beyond giving him home ~ w.icA he
has no real because no proprietary interest
Value of Lots Now and in the Past.
Al old New Yorker, who resided there for
thlrIy one years and VINO has lived here forty
four, says that In 1880 when New York had a
population Of about 300. 600 his father bought n
lot un Houston street, near Broadway, 25xi 90
IN size, to rear alley, for $1,000. Houston ana
Broadway were exactly mile distant from The
population OF about 100000 lots on Twenty
lhird street, near Broadway. sold for $1,000 10
SoooV olyi IhlS gentleman wonders why,
In all cities, lots now bring so mucn
more money. The reason Is the lessened
purchasing power OF money, and he advaBce OF
wages Workmen in New York City now get so.
per cent higher wages than they got fifty years
ago. A New Yorker, Gow OF this city, got no
salary for the first Gear In New YORK wien he
second year, S10O the third year, $3.50 the
fourth year aud 5000 The fifth year Lowell
White, cashier OF The Savings Union forty years
ago ~ Nrw Hampshire served two years IN a
store Tor $50 year, with board and lodging
aud hnaliy. when lie was advanced 10 i
mans wages, he got but 5000 per year.
Farmhauds then got bat SS to S1O
month now they are paid $50 10 $50. Another
most important factor In increasing this price OF
land Is savings banks. They were Practically
unknown In 1880, and were nliing 4 very inspn.
spieuons place 10 lS49. Now they are the very
backbone OF realestate values. A commodity
on which so per cent Of full, fair value can az
any time be borrowed at 612 TO per cent gross
OF . to 542 per cent DeT, while rates at CONNER.
eSl banks ate 8 10 per ceur, IS sure 10 60 up 10
Iuil prices. In general way, TOO. IL may be said 10
IN IN no city, Bot even In the oldest and most
be bought for anything like as low price as that
whleh prevailed thirty TO ffty years ago.
The Mortgages Nearly Equal to the
Sales in New York.
The total value of the real estate sales made
10 New York City aud county in 1892 was
S22S,6OSi599, Willie the value OF tbe mortgages
was Sl33, ,S79,5T2. The New York Real Estate
tory, and IL most assuredly Is so. Immense
ngures OF sales eaH be run up anywhere, when
little cash Is required down. Chicago does an
even larger credit business In real estate than
New YORK. In fact, The assertion Is made in n
general way, that II is all credit 10 real estate ut
Chicago. and that II hard lines come the plo oI,-
erfy mortgaged would, in very many cases
not begin 10 bring the amount Of the debts due
on 1t.