The morning call., 1894-03-31
Savings Banks May Have
to Come Down.
THE ITALIAN BANK BEGINS.
Extensive Grading Beyond Ash
bury Heights.
FIFTEEN BLOCKS IN ALL.
Notes of Interest in Real Estate Cir
cLes During the Week-Building
Business Improves.

Two events of considerable Importance
took place this week in real estate circles.
They will have decided influence on the
market, within certain limits of course,
but in general sense conditions ought TO
be improved by them. In one there is a
very pleasing evidence of the con fidence
capital has in city land, and in the other
an indication that real property wi II have
all the money needed at low rates of in
terest unless some unfortunate change
takes place.
The Italian Bank loaned S60, 600 to the
syndicate that bought the Montgomery
block. This money is given on mortgage
on the block, for which S121,0 was paid.
The interest is 612 per cent, being u lower
than standard rates established by savings
banks. From this the conclusion is that
money is becoming very plentiful and bank
ers are beginning TO feel desirous of getting
rid of surplus cash on good real estate
security. Private lenders who gave out
money at high rates of interest during the
period of stringencv are now getting it
back and show a willingness to loan on
city real estate with interest as low as 6
per cent.
a contract has been signed by Pope
q Talbot for the grading of forty-five acres
OF land lying at the foot of Clarendon
Heights. With the single exception of
Fairs reclaiming operations on North
Beach this is the most extensive improve
ment undertaken in this city for some
years past. The property has its northern
boundary few blocks from Haight street.
C,,1
livan. Seventeenth, Clayton and Stanyan
streets, some of them in a deep hollow
and some on the hillside, with splendid
views and good OppOrtuni les for improve
ment by grading. At d reasonable esti-
mate they are worth something like
$4,000 each, or easily Sl,000000 for the
whole tract. The contract price for grad
ing is $3.50. 900.
To carry out the work on a large scale
machinery will be built so that tracks can
be laid from the hills above, and the earth
run down in trains over gravity road.
Empty cars will be carried up by the
weight of the full ones going down, which
system will obviate The necessity of EN-
ploying power.
The benefits accruing from the grading
will be felt in all paris of Ashbury
Heights, and as the property will be placed
on the market at an early date, no doubt
values will become firm in sympathy.
ing opportunities for all classes of buyers
has been prepared by Easton, Eldridge &
Co. for their auction next Tuesday as
follows: Market-street business property
on north line of Market street, 220 feet
southwest of Octavia (three LOTS; Pacific
Heights residence lots on the southeast
corner of Baker and Washington streets
0two lOts); Presidio Heights residence lot
on the north line of California street east
of Locust; Mission corner lot and cottage,
lot on southwest corner of Dolores and
Valley streets, cottage No. 1922 Dolores
street, south of Valley; Richmond resi-
dence lots on southwest corner of Twenty
fourth avenue and b street (eight lOts) !;
probate sale-LOt On west line of Twen-
tieth avenue, south of Point LObos, lot ON
northwest corner of Eighteenth avenue
and a street. lot on northeast corner of
Nineteenth avenue and A street, lot on
southwest corner of Nineteenth avenue
and A street -four lOts) southeast corner
twentieth avenue ana A street 0hree
LOTS, lot on south line of { street, west of
Eighth avenue; Castro Heights residence
lot on east line of Castro street, south of
Henry; Bernal Heights lots on west line
of California avenue, south of Lizzie
street two lOts)
The auction announcement OF Won
Rhein q Co.'s sale, to take place on April
II. has been issued. 1t contains properties
that are offered on only rare occasions. and
VIII no doubt attract attention from capi-
laists and home seekers.
According to Edwards Criterion, which
kees record of all city sales, the busi-
ness of February was represented by 224
transactions, aggregating 1896, 1876. The
total amount OF mortgages was S1,S71 2S6,
and releases and reconveyances S301O443.
viii L. Fisher q Co. report the follow
ing sales: Lot on north line of Fulton
street, 165 feet west of Devisadero, q :6x
137 IS, S3250; lot 30x90 on southeast corner
of California street and Twenty-second
avenue, $1,000; lot 27x72, on north line of
Lake street, 106 feet east of Eleventh ave.
nue., $500.
Sol Getz 81 Brother report the following
sales: Lot. 25x120 on the west line of
Thirlleth avenue, 175 feet south of street.
for $500; lot, 25x100. on the north line of /
street, 50 :6 feet east of Seventeenth avenue.
for $500; lot 25x120, on the east line of
Twelfth avenue, 175 feet north Of J street
Tor $500; lOi, 50X120. on the west line of
Twenty-second avenue, 80 feet south of
h street, for $500; lot. 25x120. Oh the west
line OF Eighth avenue. 225 feet south of Fl
street, for $500; lo, 50A100, on the south
easterly line OF Vienna street. 80 feet
northeast of Persia avenue. for $500.
Ihls week has given some encourage.
ment to builders, as it indicates a begin
ming OF he summer building season in a
very assuring manner. Besides the large
number of contracts for substantial houses
were placed on record within the past
seven days, as the following will show:
Flats on Haight street, near Broderick.
cost 1920; dwelling on Twenty-fourth
street, near Castro, cost $1,000; corner of
Clay and Mason streets, cost 5000; two
story frame, on the northwest corner
of Fourteenth and Guerrero streets.
cost $500; two-story dwelling. on
Pine street. near Scott, cost S36O0:
dwelling on Hermann street, near Steven
son, cost $4,000; cottage on York street.
near Napa. cost $500; two-story frame on
Landers street, near Fourteenth, cost
S2500; residence on jackson street. west of
Locust. cost $500; fats on Fell street.
near Lott. cost $1,000; tbree-story building.
on the southeast corner of O'Farrell and
Taylor streets, price $40, 345; alterations at
749 Market street. $1,000; at $40 Market
street, $500; on building at Bryant and
Butte streets. $500. Also cottages as fol-
lows: On Sutier street, near Webster,
$1,000; on Laurel avenue. near California
street. S1650; in Holly Park, $500; two on
Twenty-fourth street, near Castro, $4,000;
on Elizabeth street. near Douglass. $1,000
With regard TO Northern California as
an attractive place for people looking for