The morning call., 1893-05-02

errles aud loauing with soma regard 10 that
vatife, Ignoring tile question whether properly ~
readily salable or not 1t viii BE- admitted by
every person OF experience that periods OF
activity aud of depression alternate and no one
sUppoies at any time that either condition VIII
he permanent; yet applications for loans are
considered almost eaiirely on the. supposed.
momentary salable value OF the security OF
fered-as though that transient value was 10 ell
dure wihOut limit.
1t often SAID. and with apparent good rea-
SOD, That "lhere are too many houses in San
Francisco and HAT 'meTe are building" and
This is often urged as motive Tor extreme eau
tion In lOaning on residence property Now.
does any one believe that the time IS coming. 10
remain, when desirable lots and dwellings VIII
not sell? II such time does come all savings
institutions VIII be bankrupt The same may be
said Of farms where tie lands ate choice and the
Improvements suitable. 1t carries no weight 10
say that THIS class or Mat class OF farming or
that wine-making or Embarrassing docs not
pay" at one special time or another when
fruit or wine are unsslabie. Farms VIII be
wanted and VIII command price during all The
present era Of civilization. Not only viii town
residences and farms be wanted but the
prices, for any length Of time Will not be
less than at present, upon The average. Growth
and development are yet In order IN THIS Stat,
and viii continue so long as the savings BANKS
have any interest IN The matter. Ibe rule, ad-
Tered to quito rigidly, OF making aud connnlng
loans-to hall values in-the city, and on--ihird Ia
lie country. has been, in sense, too conSer-
Vative one. random guess al the values has
induced loans vast tracts OF uDdeVeiOped
landsthat should have been left severely alone.
bJiEd adherence 10 ms rulo mas iufDluUcn
loans where ihe chances OF acquiring Tue prop
erty by forced sale were Dfnteslinal. II may De
ASSUMED that savings bank mistakes OF loauin@
on mwleliy and uhdeveloped pfopeIles-that
ls on large tracts OF interior iaud unimprOyed-
VIII :not bs reneated; but good resoiu-
lions in this behalf should be ace0mpa-
MED by q determination to loan llberaiIy
Oh small Improved farms where the land Is OF
the best quality, and where danger OF acqutsl-
lont as proved by long experience, Is very small
indeed. The owner OF tens OF thousands OF
acTesi which lie is holding for speculation aud
not Improving VIII thus be discouraged while
the snall owner, intent Oh development, will be
sustained and aided. Cutting down loans on de-
slrdbe property. simply because the real estate
market Is Gull; Is tile best means that can be
devised 10 make prices sii lower. Faith In the
. future Is a chief factor In financial success.
Occasionally the pessmist Is In the rght, bur, as
lnle, tie optimist is on top. The pessimist sits
Silt and escapes disaster-ihe opIimlst develops
and achieves success
IN SAVINGS BANKS HERE.
Al last report, in January, our savings banks
had deposits amounting TO SIO7. 224 600 while
the savings BANKS OF New. York CITY had only
S324,000O00 in deposits. New York has about
i've times The population Of this city. Deposit.
0rs Here are pad only 3. TO 3 e per ceat per
annum mel ; here they are paid IA to51s net.
The high rates paid here tend TO bfing deposits
10 ouI savings banks from all parts Of tie
Union. ana have In these dun times VIGOROUSLY
caused men Oh ineans-too lazy aud too unenteT-
prisi3g 10 invest their money where they IN ght
/ aid city aud State growth-io deposit large
amounts III our savings banks, thus turning
those institutions into banks for the rich, Instead
OF safe places OF deposit for tie small means OF
the poor. There Is no remedy for this but n
reduction Of tile rates of Interest. The savings
banks have not hXed The rate now paid. The
people are responsible tor 1t. Tie tendency Is
! dowuward because the banks are being over
lgaced uy large dcpGs'tOrs. The natural result
/ vii! be reduction in interest rates.
SALES DURING April.
Tie number Of sa;es made In April was 4oG
| OF The value Of 81 ,297 ,OlQ The market is de
| cidediy better, and thIL not so much T. ON gen.
| eral Improvement In business As from sheer
| force OF ciicumsiaDceS-thal Is. cause there
| Is nothing eiso 80 good for the investment o
| either invest iu H. put their money in III,
/ savings banks or let 1t lie idle. OF course ther,
l. are other investments. but they not In favor
| SO soon rs tIre savings banks stop receiving un
| limited deposits. this tendency 10 improvement
| IN city real estate VIII Increase. Country prop
eriy VIII then also be in better demand. Aclua
and prospective retail property, especially lii
/ latter, is In good demand.