The morning call., 1893-10-21
A CASE IN POINT.
Confidence in City Realty
Is Rewarded.
NO REASON FOR COMPLAINT.
Money Freely Offered at Reasonable
Interest on City Real Estate, and
Prospects Are Encouraging.

While some complaints are still heard
about business in real estate the brokers
say there is a good healthy movement in
city realty. that money Is far easier than 1t
has been for months and abundant promise
is given OF better condition of affairs this
coming winter. II realty is not so really
lively as it might be the cause m ay be
sought and found in timidity of men with
means. who, falling to bring mature judg-
ment into requistion when considering the
future, shrink from making sound invest
ments. FaTseeing men are stepping in
quietly mean W hile and reaping the benefit
of their discretion. The timid ones hold
back, thinking that San Francisco realty
will be still cheaper than now.
Without entering into an argument on
this case an agent gives an illustration
which must arrest attention. 1t proves
the fallacy of being overcautious. Some
years ago a capitalist bought property near
Market street for 500 front foot. AT
that time the market was in similar con-
dition to the present not particularly
brisk. The same property to-day is worth
$4,000 to $4,000 foot-in a similar market
Recently this man returned to San Fran
cisco from the East. He looked around
for an investment in real estate and pur-
chased a large piece OF property near
Market street and downtown while 1t was
going a-begging for a purchaser. He
snapped ii up without bargaining, and is
we'll satisfied with his speculation.
Money is freely offered by private indi-
viduals at 8 TO 81 per cent, which does not
include taxes. At this rate loans can be
secured at an equivalent of to 6H12 per cent
on mortgage. The Hibernia Bank is plac-
ing its mortgage loans at 6h per cent for
three or four years, figure lower than
former rates. and from this fact it Is be-
lieved that money will be easier and
cheaper than it ever has been. d. 0.
Mills gave it as his opinion recently TO a
local real estate agent that money will be
easier after the crisis.
Agents represent that there Is cunsidera-
BILE inquiry for city property. and all things
considered fair business Is being done.
The Midwinter Fair, which has been ap-
decided stir. One firm received letter
yesterday from lady in Chicago asking
that her lots near Golden Gate Park be
sold. as she understood the exposition had
advanced values already of San Francisco
realty. The letter was satisfactory in
dication Of how the fair is regarded In the
East.
Building on the fair concessions will
begin at once, and then the building trade
will have busy spell. Contracts for the
French Hospital amounting to S131.5S4
were let this week. A $4,000 boaihouse
on Strawberry Lake is in course Of con-
structon. and quite fair business is re-
ported in new dwellings. In the neigh bor-
hood of the park this is particularly no.
ticeable.
In Richmond there appears to be a lively
stir in building as we'll as in real estate.
Many houses are in course of construction
there. and during the past week the fol-
lowing contracts for buildings In Rich.
mOnd were let:
A o-story frame on D street, west of
Seventh avenue. cost $4,000; one-story