The morning call., 1893-07-08
City Real Estate Brings
Fair Figures.
AN IMPROVED TONE NOTED.
The Week Opens Quite We'll AFTER
the Holidays and Brokers Are Elk.
pecting Stirring Times.

SaIQ a Clever real estate man yesterday
and ia saying that he conveyed a great
deal in few words. He meant that there
was no uneasiness in the situation at pres
ent, but rather much confidence and a
feeling that the end If this year will see a
prosperous and lively time in the realty
market of this city. The expectation is
really nothing more nor less than an i'm
provement that will accompany the winter
fair and better feeling in regard to city
property.
July is midsummer month, people are
out Of town and the banks usually decline
to loan in large amounts because dividends
must be paid. A brisk movement in real
estate is not therefore reasonably to be
looked for. 1t is more or less holiday
time. And speaking of holidays, much
cannot be expected Of this week with IT'S
national festival. The days were largely
reserved for amusement, and yet investors
found time to look up promising invest
ments and make purchases.
Real estate has been selling on its met-
its. The demand has been mostly for
residence lots of the medium class, say
from 5000 to $4,000. and good investmen
property less than $4,000. House prop
erty is improving as an investment. be-
+
houses. This growth was,>tirst noted
about the beginning of last month.
The banks did not loan any money dur
ing this week, and as natural conse-
quence real estate is sluggish Persons
who would buy provided necessary loans
could be secured on mortgages have been
compelled to wait until the banks are
ready to consider iGeir offers. In passing,
this means no reflection on the financial
institutions Of San Francisco. The public
has every confidence in the banks. and 1t
is only too we'll known how scarce money
is all over the country.
The local banks deemed it most advis-
able to hold all the cash at their command.
readyto meet demands of depOsitors, and
to pay the annual dividends which come
due on July /. The banks are now pay
ing these profits to patrons. and already as
much as $4,000 600 has been passed over
the counters from the vaults. On the 10.h
inst. one bank will begin to loan, and 1t is
understood that all will be ready 10 invest
money five days later. In spite Of the
stringency Of money, however, good deal
of activity has marked the smaller deal
ngs in real estate since July 4. This is
satisfactorily accounted for by people who
drew out deposits OF savings banks during
the financial furry investing in city prop
erty of moderate price.
BY the way, it is pretty generally con-
cedrd that it would do not the least harm
If many more savings bank depOstOrs
would transfer their money from the bank
Golfers into city real estate.
Outside lands are in little or no demand.
Speculative values may go for time, but
now property must sell on its merits.
The California midwinter exposition
begins to look like n success. Money is
coming in from many quarters quite librr-
ally and confidence in the fair is spread
ing. Real estate men turn to the fair with
great expectations, and they express
themselves as hopeful that it will be an
esta blished fact.
IF the fair comes it will make things
hum" said 4. S. Baldwin II. Il will give
a very good tome TO the market and help
the city very materially"
The winter fair will do much good"
said o. f. Won Rhein. st will bring
people into our city and State, and Pm
fornla. The State and city need only be
known to appreciate their charms"
July being always regarded as holiday
season so far as brisk business in real es-
tate is concerned brokers look for a quiet
time without complaining. Having this
fact in view IL is assuring to know thai
Eas.on. Eldridge q Co. have arranged for
an auction Of N scelaDeOus city property
next Tuesday. This public sale may 90
far toward feeling the present tone of the
marker, and as the LIST OF properties ex-
tends pretty well over San Francisco a
criterion of variously located lots and i'm
provrments will likely be thus presented
There is a good piece of business property
at Fifth street and Mint avenue, an Fin
side" property on Hyde street, near O'Far-
relI, and selected rieces of real estate with
improvements in the Western Addition,
on Rincon Hill, South Park, Kearny street
and Green street The "uutside" property
is confined to residence and vacant lots
on Castro Heights.
The following list of sales contributed
by G. H. Umbsen & Co.. may be regarded
as representative transactions of tn.
present market. Sales for the week were
much as follows:
Lol 25X95 feet, west line of Cook street,
70 north st. Roses. sold for $500; two
flats, 724-26 Hayes street, lot 25x12O, sold
for $3.50; cottage and lot 25x72, 426 Waller
street, sold for $1,000; improvements and
lot 6S :9x70, southeast corner Of Ellis and
Steiner streets, sold for $3.50; lot 26x114.
south line Of Twenty-eighth street. 125 Is
east of Sanchez, sold for $500; $500 Scott
street, 25x137:6 sold for $780, 81 FIRE.
mont street. lot 23x70, sold for $500: i'm
pr0vements and lot 80 '3x56, 22-24b Luskie
street, sold for $3.50.
Won Rhein & Co. intend Offering a gen.
eral catalogue OF city real estate at auc-
ton on the 9th inst. At these public
sales there is invariably a crowd of buy
ers, which in itself is favorable indica-
ton of how safe are real estate invest.
ments in San Francisco.
The building statistics for June show a.
relatively light business in closing con-
tracts during the month. Still, great
many orders for new buildings were given
in June which have not vet been recorded
as contracted for. There were SO con-
tracts recorded. with total estimate of
1896. 604 The orders for buildings for
which plans are now being prepared num-
Der 3S. amounting to S941, 1928 In the same
month last year there were 100 contracts,
aggregating S645.653 In actual contracts
recorded these statistics show falling off
$3.50, 049 for last month.
Mertens d Coffey. the architects, are
building a residence and three cottages at
Palo Alto to cost $4,000, and are working
on plans for a students clubhouse at the
Leland Stanford Jr. University. The
latter building will cost $4,000.