The morning call. [volume] (San Francisco [Calif.]) 1878-1895, 1894-06-09
INFLUENCES FELT.
Conclusions From Large
Transactions.
The Month of May Was a Remark
ably Prosperous One in the
Building Trades.

1t is generally conceded that there is
more absolutely idle money locked up in
San Francisco at present. without ever a
chance 10 turn it into use. than at any pre-
viOus period in the city's history. The
causes of this condition are obvious.
Absence of prosperity which used 10 ex-
lst here has made capital timid of invest
ment, if indeed it has not quite removed
the opportunities for using money in the
usual volume in all lines of trade and COM
merce. Too much legislation, or probably
the want of legislation, is responsible, and
until change takes place in that direc-
tion little may be expected for improve
ment. Necessarily this applies to the
real estate market, which feels the outside
influence in nc indefinite way. The fact
of the matter is that real estate continues
in the groove without showing signs of
rapid advances toward brisk market.
Some very few large sales within the
past two weeks are quoted as a clear sign
that COP fldence Is fully felt In city realty.
The conclusion is reasonable and has much
10 recommend it 10 forecasting a bright fu-
ture. And yet il is doubtful il one swallow
makes summer.
That the sum of about 81. 900, 900 should
have been paid for few small lots in the
heart of the city is not enough for founda-
ton on which 10 build radical turn in the
course OF events. 1t is not proof OF sudden
change, although it appears to have ele-
ments IN which can be distinguished the
gradual turning OF capital to city lands for
investment which OF course must mean
that better times ara coming, no matter
now reluctantly.
The rattle of more moldy millions in
real estate Offices would help things along
materially, while it would be pleasing
music to all concerned. Simply because
money cannot be loaned freely on mort
cages at any interest is no reason why
interest should be remain at 6 To per
cent, all things considered. whats the
use of reducing interest? We can't loan
out money a any rate, it is not wanted"
was the significant remark OF an agent in
a discussion of the subject. When interest
falls this money will turn toward real
estate, than which no safer investment
can be offered under the present quiet
conditions.
The following building contracts were
recorded this week: A tWO-stoTy dwelling
On Fulton street, near Baker, cost $4,000;
\ home on Nevada street, near Rhode
Island, cost $1,000; frame building on
Market street, near Fifteenth. cost $4,000;
row OF eight fats on Army street, near
Guerrero, cost $500; alterations on prop
erty on Bartlett street, near Twenty-irst,
covering lot of II feet frontage, 5000;
cottage on Pennsylvania avenue. near
Sierra street. cost $500; a two-story frame
on Perry street, near Second, cost $4,000;
II cottage on Seventeenth street, near Ser
pPDtine avenue, cost $1,000.
In addition to these contracts the sum
OF $4,000 is being expended on improve
ments IN the Phelan building, and quite
number of smaller improvements are in
progress.
For the month of May the building con-
tracts mum bered 11S, and aggregated $751;
III. In comparison with the figures of
previous years this months outlay in
buildings was the largest for May during
the past sixteen years, with only Que eX-
ceptlon, in 1891. According to a record
kept by the Building News the May con-
tracts in the past ten years have been as