The morning call., 1894-05-12
NO BARGAINS NOW
Effect of Two Auctions
on Realty.
A Remarkable Report on These
Institutions Which Help People
to Get Their Own Homes.

The result of the auction sales held this
week by Baldwin & Hammond and
Easton, Eldridge g. Co. is taken by real
estate agents as very fair indication that
people are not going to wait much longer
in purchasing real property in the city.
The prices were good enough to give
satisfaction and bidding was quite spirited
also. And those who bought knew very
we'll they were not getting bargains, but
buying land at the market value and moth
ing more nor less. Consequently these
transactions show a firm tone TO the
market and put an end TO the statements
that city property was not in demand at
asking prices because it would go lower.
No doubt real estate has deprecated to
a certain extent, but this was in sympathy
with other business, and no lack of conf
dence was felt In the outcome of city
property. These auctions went to
prove that the bargain-hunters, If they
intend to buy, must not lose any time in
waiting for prices to fall. On the con-
trary the indications are for rise in
values.
The Midwinter Fair session of the Cali
fornia League of Mutual Building and
Loan associations will convene on Tues
"
building and loan association is requested
to send three delegates to this convention,
with certificates signed by the secretary Of
their respective association. For those
who have ambitions to have homes of their
own the meetings will be worth attending,
as the following papers will be read ::
Fines; their uses and abuses" ''Pre-
mums; why are they charged. how should
they be appledo" Taxes: how should
they be apportioned?" Loans: their
legitimate purposes" Bookkeeping !;
should we endeavor to adopt uniform
system for ALP" Profits; what con-
stitute legitimate earnings previous
ing; should 1t be done by committee of
shareholders with a prescribed form for
checking receipts and disbursements. or
by an 'expert?'" s'1he league: how can
its usefulness be extended and in
creased ?' state legislation; 10 we need
any more?" Building and loan commits
sl0ners; how will their services help the
legitimate association? ?" Benefits Of
building and loan associations to the COM
munities where located" "Overdrafts: !:
should they be INDUCED in and to what
extentT' paid up stock: is it legiti-
mate feature of building and loan
According to the report of the United
States Labor Commissioner. quite re-
Gently published. 1888 associations were in
operation on January /. OF these 559S
were local" and 240 national" The
lotal number OF shareholders was 1,745. 725
and the net assets were $3.50, ,667, ,594. The
prohts amounted to SS0,664 ,1l6. The
homes acquired through this system num-
oeled 5l4.755. In this connection it is
very interesting to note that the average
age OF building and loan societies in
america on January / was So years.
Oniy 400 societies were more than 15 years
nius os renee the enormous assets of over
S4oo. .o0O.0O0 represent the savings of
orieI period. This speaks we'll for build
lug ana loan associations, and should en-
courage people to at least inyestigate
tnem as system for saving money and
acquiring property.
Inc leading features of the week in real
estate improvements were the beginning of
work on the Richmond sewer outlet at
DaKersa Beach and the decision to lower
e9,aues 9aa so on Market street west of Octavia.
One VIII nave decided influence for the
better ON Richmond property, while the
other Will change the whole stuation on r
on Market street.
De Rochemont & Poehlman report thA
sale OF three lots on Eighth avenue. nsar
Gisment len street, for S25o0; also lot 3ox72 ON
Lake street. near Tenth avenue for Soon
Shainwald. Buckbee & Co. saw that v, for q
lot AZ the Junction OF Market. Sixteenth
ana Noe streets the sum of S36eo w. 20 ,,a;d
10 ID 1893. ana the property Is now sold for
Soo.0oO. In the same year nearly half a
oiock OF land on Fourteenth avenue with
IN the boundaries of c and D % stree:s " was was
oongn ior $500 and now sells for $1,000
,hio pu.u'ns contracts as follows were signed
street. near Twenty-second. cost s2nO1. r.us a
oalIding on1na on Zoe street, near Brannan. COST e
oNIoo, alterations on Sutter-street build-
ing. near Grant avenue, cost $4,000: a tene-
nien: on tne corner OF Webster and Ger
enzna man.a streets, cost $4,000; sixsfats on the
cos, co y, oo aileJo street and Vulcan lane.
ooss eio''oo; additions to building on