The morning call. [volume] (San Francisco [Calif.]) 1878-1895, 1894-12-31
BUSINESS OF THIS YEAR.
Summaries That Are Positively
Exclusive Figures
ON CITY REALTY AND FINANCES.
The Result of Thomas Magee's Care
full Attention to the Market and
Temporary Conditions.

real-estate business OF 1894 Is taken from
advance proof-shests of Magee's Real
Estate Circular:
The number of real-estate sales made in the
year 1891. wnen real estate was lively as TO
sales and much higher az TO price, was 67o7. of
the total value of $27, 43I, 135. The number
OF sales made last year was 3404 OF the total
value of S14,227,O5O
Only two classes of property sold we'll last
year. These We're the very best inside retail
property. and very choice Pacific Heights resi-
dence property, the latter being on the north
side OF the streets In all cases. Several sales
were made on Jackson street and Broadway at
higher prices Than were ever before paid yet
even there more sales swere made OF the very
pest property at old or declining prices than at
advanced rates. OF the very bes inside re all
property we can remember but two or three
sales at higher prices than were ever before
paid. or these the most notable was the sale
OF The southwest corner OF Market and Sixth
streets. fifty feet on Market by eighty five feet
on SIKH, with extra lot in rear on Sixth, 25X75,
Tor S2600OO; the improvements being old
frames, and the rents about $1,000 per month
gross.
No other property whatever advanced here
last year. and the farther from the city center
the greater was the fall. All property having
future business prospects declined. no matter
now certain that future was. "TnOu hast no
speculation In those eyes which thou dOSt glare
WITH" said Macbeth TO the ghost OF Banquo.
and we may equally say that there was not
trace Of speculation in The eyes or calculations
OF buyers of city real estate In 1884 Nothing
vance; indeed, we may go farther and say that,
judged by the prices paid, possible retrogres-
sion Ear more than advance was provided for.
In other words, buyers would not touch pros
pectlve business property except at their own
prices. Indeed. there were remarkably few
sales OF such property In any district of the city
proved, on Valencia or Mission, between say
Tenth and Twenty-second, on Howard from
Third to Ninth. all of Fifth. Sixth below Fol-
som; Seventh. Eighth and Ninth, Fill
more and DevisaderO streets. as we'll
as the Cliff House road and Potrero ave.
nue., was all very dull as o sales and low as TO
prices In 1884. All of those streets have be-
come incipient business thoroughfares or are
destined TO become business streets. The
future OF the two last named Is yet fifteen or
twenty years of, but Ii Is certain one never
theleso, we believe. We think present prices
on all OF these prospective business thorough
fares are now very low. but SO long as buyers
Will not talk OF the future and take nothing
whatever on trust such property must continue
to suffer. 1t Is especially characteristic of
boom market to send prospective business
property up in the air and OF a dead r. al. estate
market TO let 1t drop aB much too low as 1t was
previously too high.
All niedium-priced dwelling property, mean
Ing by that lots previously worth $4,000 to
$4,000, suffered in price last year. Lots Of
that class. which sold for the figures named
hVe years ago, are now dull of sale at $500 TO
$4,000. This fall is due TO two causes: credit
sales then doomed such lots into the air, and
there was thus about twice as many of them
put upon the market In subdivisions as there
was any real need of; the market was, in short,
very greatly oversupplied. and it will take five
or six years yet of pretty rapid city growth TO
build up these localities. which are yet largely
vacant. Meantime III selAa+s at the credit
sales got away with about ten years OF The
natural advance in price; the victims. there
fore, VIII have 10 wait that length OF time 10 get
ten have already run. But for cable and
electric roads. which have given rapid COM
munication TO these suburban lands, they
would have fallen IN price much more than they
have done during the Dast four nUll
The ffty-vara section of the city extends
from The bay on the north 10 Market stree, on
the south, from say Sansome TO Laskin street
on the east and west. That portion of the city
contains the best retail district, which lies b.
tween Montgomery street on the east, 81 ock.
ton street, irreguarly, OH the west, Bush on the
north, and Market street on the south. The
sales in that section bad a total value of
81, 597, 351 In 1893, ana OF S3.619,S80 In
1894.
There was very little demand for property
below Market street last year. Rents and
values In the eastern portion OF that section
fell OFF very much.
In the produce district of The city In 1894, and
prices held tn ir own WELL That district lies
between Davis, East, Market and Washington
streets, with say Sacramento and Clay as a cen.
ter.
Nothing at all was done in the South Beach
portion OF the city last year, nor Will there be
until the sewer aud mud flats there are filed
In and the streets are put in good order. The
| number OF sales on the Potrero in 1898 and
1884 were practically the same Last years
sales there amounted 10 1858. 1888. Sales al the
Mission fell he Willy in 1894. The number OF
sales there in 1898 was 1902, of the value Of
81, 62S O64; last year the number of sales was
S24, OF the value of $1,936,0 OBS. Western Ad-
dition sales, which always show an increase il
there Is any life at all In the market, fell off
from I'll IN 1898, of the value of S4S76 566
to ESQ., of the value of 1882, 553, in 1894
Outside lands were very dull of sale.
The number OF realestate mortgages re-.
corded in 1914 was 1882, of the value of SIT
43S, 592; 263S releases of city mortgages were
recorded, OF the total value of SI265l $50
The Hibernia Bank lent Sc, 165, 1888 last y ar:
| The San francisco Savings Union. So, 241. 40;
The German Bank, s2,4o6. 226; the Sayines
and Loan o Society, s336.54 the Humboldt
Bank, S430, $50; the French Bank, 1901. 300 :
the Mutual Savings Bank, $34S, 935; the S. Gu.
| rity Bank, S1S0,450. and the Columbus Saw.
1ngs and Loan Society. SITS, $50. During all of
1884 The city savings banks had more money
than they could lend out, chiefly because all
through The ar they exacted per cent inter.
est. few choice aud very large loans were
made at Ga per cent, but they were very few.
One oftne crying needs OF the times Is che amer
money. This need the savings banks have not
supplied. None of them, we believe, Increased
their deposits last year. Times were so hard
and work too scarce for those few persons in
mercantile business or In any branch of agri-
culture TO make any money In this city or State
last year, but that, indeed, was true OF nearly
every City and State of the civilized world.
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