The morning call., 1893-11-04
MONEY FOR TAXES.
Temporary Influence on
Real Estate.
A SUGGESTION IS OFFERED
The Building Associations and
Savings Banks.
A SUGGESTION IS OFFERED
IMPROVEMENTS IN OCTOBER.
A Lasting Effect Which the Mid
winter Fair Is Likely to Have on
ReaIty-Notes.

TO dominate real estate analr5 TO re-
markable degree. The great event of re-
peal of the slver-purchase bill has not yet
affected the local real estate market in any
appreciable degree, but there are other in-
t1uenceS at work nearer home.
The first installment of taxes, which
will reach nearly 100000. is payable
this month, which means that that large
sum will be suddenly taken out of a circu-
lation involving realty. A suggestion is
made by a prominent real estate firm.
which, if carried into effect, would, it is
claimed, result beaefcaly to the city
government and the people.
Instead Of allowing this large sum to lie
idle in city vaults for three or four months
until the Auditor orders it paid out, the
suggestion is that it be deposited in CON-
mercial banks. The money market would
be materially relieved in consequence
and, by judiciOus loans on call notices OF
thirty, sixty or ninety days, large
amount of interest would accrue. Much
of this money has been boarded by people
Of moderate means for the purpose of pay
ing the taxes. Now. it will all be kept out
of circulation, While Ii might be used 10
advantage.
While the savings banks are remaining
in statu quo, or nearly so, in relation to
1
ties to an extent that saves the market
from depression Yesterday $4,000 was
loaned by 0'FarTell & Co, who are now
negotiating d loan Of S120 Geo. This shows
that private money is plentiful enough.
Replying TO query about advances in
value of San Francisco land san agent
busted himself with research last week,
and succeeded in getting some interesting
figures which are considered reliable. The
data is given as follows, as it is a cOnvinc-
Ing argument in itself upon land values:
baldwin uor. 7sGS sans 5SsU SSo 3, 9nS s9S Soo
Lick House -. $4,000 100000 l.OOO.OOO
Mills building.... $1,000 212,UOO 100000
Commenting on the influence and effect
of the MidwlnteT Fair on outside lands
Umbsen & Co.'S Real Estate Record for
November saws editorially:
There is considerable inquring at present for
land near the PARK. No doubt this is partially
caused by the presence OF the buildings, eIc., of
The MldwinteT Fair, but the principal reason is
certainly tie fact that The transit facilities
called into existence by the fair will remain
after he CITY of Palms" has disappeared. In
fact the creation OF these transit facilities and
their effect upon outside LANDS, rendering them
possible Tor residences, Is one OF the many great
benefits that the fair must bestOW upon this
city In consequence owners OF large acreages
are pafceOg their property and Offering 1t for
sale upon the installment principle. There can
be no doubt hat all land within easy reach OF
the new transit facilities will improve RAPIDLY.
II must always be borne in mind that our beau
Iiful park Will remain a JOY forever, even when
the Midwinter Fair has b come a faded remem-
brance, and that along Its sides are bound 10
rise beautiful homes, Tor The future fashionable
quarter Of this city VIII b. found IN its neigh
boihOOd. As New York grew toward its park
so has san Francisco gradually extended her
self westerly TO enjoy the beauties OF one OF the
graudest pleasure GROUNDS III the world.
That building and loan associations
ought to be encouraged goes without say
ing. If properly conducted by trust
worthy officers they prove boon to thrifty
folk who wish 20 have homes. Last
Wednesday, fOr instance, the eleventh
annual meeting of an association was held
IN this city. and according 10 the seere-
tary's report read on that occasion since
the organization of the incorporation AL
loans have been made, amounting TO
S732, 323, of which 1877 have been repaid,
amounting to S259. .639. now leaving out
standing loans Of S472, ,6S4. The sum OF
S2S5, 81 has been paid on matured and
surrendered shares. including $50, 433
earnings
In comparison with profits from de-
posts in savings banks the following fig
ures, which show the value of different
series Of stock, are quite significant: First
series matured to the value Of 5000 each
second series paid in S120, book value
S1S9 So; third series paid in Sl08 book
value S166 90; fourth series paid in S96,
book value S142 30; fifth series paid 10
sS4 book value S12l %; sixth series paid
in S72. book value Sl00 Y; seventh series
paid in $50. book value S81 %; eighth
series paid in S4S. book value S62 90; ninth
series paid in $50. book value S44 60; tenth
series paid in S24. book value S28; elev-
enth series paid in S12, book value S13 23
After the homes come churches, schools
and public buildings, the erection of which
Indicate permanent settlement and changes
in centers of population. In the compara-
lively young districts around Golden Gate
Park it Is a healthy sign to see such build
ings dottng the landscape. An Episcopal
church edifice will soon be built in Rich
mond and a Catholic one on Page street
and Masonic avenue.
The erection of an engine-house and
maintenance OF an engine and hose CON-
pany on Douglass street, near Ocean road.
will no doubt have good effect on Castro
Heights property. BIDS for the construc-
tion of the house will be considered by the
Board of Supervisors next Monday.
The weeks work in building circles has
been fairly active, causing contractors to
enter into sharp competition. Quite a stir
is noticed IN dwelling construction, while
few large buildings have helped the
situation to some extent. Architect
HaVens is considering bids for the con-
struction of residence. store and two
story frame house adjoining on Mason
street, between Ellis and O'Farrell, the
Contracts with builders have been signed
during the week as follows: For changes
on a house on Hattie street, near Seven
teenth, S1120; concrete and foundation Of
building on Brannan street, near Second,
S1575; chocolate cafe 10 Golden Gate Park,
S2700; ones ory frame on Clement street,
near Sixth avenue. $500; four two-story
dwellings,, Twenty-thrd street, west of
Hampshire, $500; dwelling, Fell street,
near Steiner. S5474; tiling aud mar bic, new
Trinity Church, $1,000; mosaics and mar
bic for an Oakland residence, $500; inte-
rlor wood work, Trinity Church, S450o;
alterations two-stOry frame building on
Folsom street, near Thirteenth, $4,000;
two-story frame, Eighteenth and Castro
streets. S3SS5; huilding on Kentucky street,
near Butte, S2565; carpenter work, etc.,
Parrott building, Post and Powell, S34, 500,
iron work $500.
Building statistics for October show an
aggregate volume of business, as entered
on the records, Of S379 945 In the same
month last year there were seventy-seven
contracts, which amounted to S264, 1913.
Two rows Of cottages. to cost from $1,000
TO $3.50 each. will soon be built on Third
and Fourth avenues, between Clement aud
California streets. The cottages will be
sold on the installment plan.
UFarrell d Co. report sales as follows: