The morning news. [volume] (Savannah, Ga.) 1887-1900, 1893-09-15

A very good business was done in realty
during the first half of the year ConSldera-
bic activity was shown IN vacant property IA
the southern section. which resulted IN safes
and re sales at profitable prices. This was
kept up Tor some months until The money
market commenced tightening and hut Tor
that trouble there would have been large
business done ia the spring A great many
residences have been built in the southern
section. some for sale ana some by private
parties for their own use. Those built for
sale met win ready purchasers. That
portion Of the city Is building up
rapidly. and is showing greater develop
ment the any other. There has been, all
through the year, very far demand Tor res
licences. OF medium price. and when offered,
good values were obtained for them Brokers,
generally. report the business of the year not
so profitable as other years. though distin-
guiShea by greater number OF small trans
actions, and fewer large ones than that OF
previous years.
The shake up" in financial matters has
had its effect upon realty. not in the reduction
OF values but in the dimiuution Of transac-
tions during the latter portion Of the year an
der review
The difficulty In borrowing money was an
embargo ia real estate sales, where portions
OF the purchase money had to be borrowed.
A large part Of the real estate brokers' work
Is in making the money arrangements tocarry
cut his trades Sales Of this character could
not be cOusummH ted. hence transactions were
decreased. Then again. during the currency
strinEcnCy. parties disposed and able 20 buy
were ADDIe0EnSlNG OF greater lrOlDieS dne0u
and held on. The dreadful slump in securi-
ties Of'dll kinds has Injured to the benent OF
reality.
Large investors in soealled "gilt-edged"
stocks and bonds, who have lost heavily by
shrinEaEc OF values have become converts to
real estate, and VIII heuCeforth seek such in
vestments. One OF the encouraging signs of
the hard times through which we have PASSED
ana are sim passing, has been the strength
OF the real estate marlSet.' There has been
no decline in prices. but all sales that have
been made have been at high water figures.
The soltdity OF the prices of realty has been
panicRy times.
This condition has been helpful in bridging
over and through the tight money market.
When nothing else could I've sold except at
sacrifice. realty could always be counted upon
TO pull the owner out Of a hole. Full value
could always he realized when all else failed,
The fact, of possessing uuencumbered real
estate carried a mans paper through bank
when the hypothecatiOu OF stocks and bonds
could and would not.
There seems much to be expected for realty
duringthe year just opening. With the financial
problem solved our city must and will respond
promptly TO favorable conditions for its CON
tinUed growth. Deep water and new lines OF
railroad are sure to bring population. This
means increased demand for realty. Sa-
vannah is destined TO be the principal south
ern seaport, the trend otcveuts Is u4nifsIa h
ably that way. Our population now Is not
sufficiently provided for with homes, and the
shortage Of houses becomes more apparent
changed in the face Of hard times. All OF
these facts point to one conclusion, the solid
1ty OF real estate Investments in q growing
and prosperous city Ike Savannah.