The morning call., 1893-08-26
Indications of Increase i'm
Business.
BUILDINGS IN PROGRESS.
The Market Is Beginning to Feel the
Effect of Many improvements.
Notes Sales Reported.

thermore influences have been at work
that bring renewed confidence in property
and hopeful prospect for the near future
Inquiry was not quite so good, but this
was more than offset by the expectations
arising from evidences of general improve
ment, the Midwinter Fair boom and a
wholesome stir in the building line. If
there Is anything in realty feeling the
effect OF costly and permanent improve
ments, such as are now in progress or
contemplation, there ought to be a pros
porous ending for 1898 in San Francisco
real estate business.
There are actually in course of construc-
ton in various stages some magnificent
business buildings that represent an outlay
of millions. The Parrot estate is con-
templating an outlay of over 1000, 900. a
seven-stOry structure at Market and Mont
gOmery streets is on the way, the City
Hall tower will follow, the Mechanics In
stitute is considering plans of an $4,000
building, another big outlay will be made
at the ferries depot and the San Francisco
Verein and the Verein Eintracht have
adopted plans for expensive houses and
will soon begin to build.
In addition TO these the Midwinter Fair
will circulate a few hundred thousand dol
lars among builders, and many improve
ments north and south of the park are
spoken of. At the same time the usual
homo building will continue. Here is an
array of facts that pcove very satisfac-
torily that confidence cannot be shaken in
city property.
The fact that capitalists are investing
tmmense sums OF money in city realty and
buildings is ample proof that the invest
ment pays a good dividend in the way of
rents. If it were otherwise, and it did not
pay to build, money would quickly seek
other channels. But these good signs are
the safest indication of abiding faith in
San francisco real estate as an investment.
Three flats on O'Farrell street, near Oc-
tavla, are to be built at a cost of $1,000.
Contracts for the administration build
ing of the Catholic Theological Seminary
at MenlO Park have been let. They in
VolYe $4,000. and represent only small
portion of the total cost of the college.
A Presbyterian church, 20 cost S25, 00O
will be erected in San Rafael.
A force of workmen began to bulkhead
the earth around the excavation at Market
and Montgomery streets yesterday to pre-
pare the way for the Union Trust Com
pany's new building. Contracts have
been awarded for the iron, steel, stone and
brick work, and the contractors, DESTROYS
of taking advantage Of the present
weather. will commence building opera
tiOns at once. The basement will have
safe deposit vaults and the first floor Will
be occupied by the company. while six
uoh1S OVeEHeau are 10 OF rented as O1lceS.
The TWO first stories Will be of cut stone
and above them brick and terra Gotta will
be used.
The building committee Of the Mechan-
lcZ Institute has recommended to tn
kR6Grtees thAta building on Hayes street
1lJXsndIng from Larkin to Polk, be erected
DO Oh he institute.
to Che estimated cost Of the proposed
Y hiding is nearly S1,000000. 1t is also
TeNommended TO Improve the present
library building on Past street at an ex-
pense Of SIS, 000. TO accomm odate all le-
quirements until the uptown structure
Will be fini-hed.
Mr.. Arata is having alterations made
from private dwelling to stores at 11l9
Stockton street, TO cost $3.50. j. T. Hills
contractor
J. Cnnco is having improvements made
At 1908 Stockton street, 10 cost $1,000. j. f.
Hills contractor.
The building at $50 jackson street,
lately damaged by fire and belonging to
the Ii Pc Tai estate, is being repaired by
j. +. Hills under contract for S347O
w. j. Dingee of Oakland will offer at
public auction to-day in his saesroo ms
across the bay some attractive property.
On hls list is a business corner at Franklin
and Fourteenth streets, TO be sold subject
10 subd vision to suit purchasers also an
extensive manufacturing size on the rail-
road. There are dwelling sites at Pied
i
Ayala avenue, and house on Edwards
street. near Broadway. This catalogue
has been selected with considerable care
and with a view of Offering at auction
properties that will suit variety of buy
ers and tempt others 10 invest in Oakland.
Twenty water blocks lying west of
Larkin street and n orth of the shore line
Will be offered for sale in the auction
room this week. They extend to the
charter line of 1850. and some day NAV
become valuable. The last contract made
by the State Harbor Commissioners, and
now more than half completed. extends
the seawall 1000 feet west of Powell street.
1t is quite possible the next like contract
will carry the seawall to Larkin street.
and the following one far beyond that
point.
G. q. Umbsen & CO. report the sale of a
twO-story and basement bay-windoW
house. corner of Guerrero street and
Clinton Park, lot 28:6X117 feet, for S9500.
Sol GetZ & Bro. report the following
sales: 100x100, on north line of j street,
1876 east Of Twelfth avenue, $4,000; 25x120,
on west line OF Eleventh avenue, 275 south
of | street, $1,000; 50X120, on east line OF
Ihlrty-sixth avenue, 300 north OF ID street,
$500; 25x120, on west Jiae OF Seventh
avenue, go south Of J street, SLIGO; 50x
lZG. on east line of Thirty-siXth avenue,
175 north OF K street. $500.
The auction of 0. +. Won Rhein an
Houuceu LOT thursday next IS held under
peremptory order Of Elliott J. Moore. ex-
eeutor of the estate of H. A. Pearsons.
The property to be disposed of is at the
water front on Clay and Merchant streets,
near East, 109:3x115 feet, running from
street to street. 1t has been in the Pear
sons family since 1851 and yielded for
tune since then in ground rents. At pres
ent these ground rents are only about
$3.50 per month, because an estate can give
no leases. Hence all tenants now are
from month to month. which stands in the
way OF getting full rental value
1t is remarkable fact that all property
near the city front is 10 the hands of rich
families. hardly ever for sale and never at
auction, except in a case of this kind.
where sale Is made to close an estate The
property is advertised to be sold as
whole or in lots, and even in these quiet
times lively bidding is looked for.