The morning call., 1894-06-30
rs EFFECT ON REAL ESTATE.

Business is still quiet in the real-estate
. market, but it is expected that after July
! there will be very fair activity in
transfers. The summer season is always
accepted as a holiday time 10 a great ex-
tent by real-estate men. who are cOnse-
Quenty satisfied with the present slow
movement. As May was a good month in
comparison with preceding months since
the financial striugeGcy began last year
the agents make no special complaint
about the present off condition.
Next week savings banks will pay divi-
dends and if the money thus set free will
follow in the customary groove large sums
Will be invested In city real estate.
There is another and stronger reason
why the realty market may be expected to
improve materially in the very near future
1t has been looked for by real estate agents
and capitalists. and the time OF its coming
seems at hand. A variety of conditions
have combined to depress the money mar
ket in San Francisco INTO a state that high
rates of interest are no longer possible.
The banks are considering a reduction of
rates and will agree on the interest to be
paid in the next six months. In view of
this real estate dealers are hoping that
cOnsiderab BILE money will be drawn from
1.-The banks and invested in city property.
Heretofore people were satisfied with in
comes in the form of interest from savings
banks-as high as > Der cent They simply
left their capital tU bankers for manipula-
ton and took what they got. To pay tie
high rate of Interest bankers were com
pelied to exact burdensome profits on
mortgages. Eight per cent was common
on country lands ana per cent has main
tanned IN the city.
In the past six months, however,
The demand for money has been
light comparatively. The banks Rave not
loaned enough money In the country to be
taken into consideration, ana money is
drug on city security. With large sums
accumulated in the vtults. it has become
impOssihl to keep up gh interest to, de-
pOSitOTS. and now radical change is con-
templated. The bankers are keeping the
mater secret as far as possible. Still it is
well known that the interest and divi-
Gends oil the next six months will not be
nearly so large as in the last term. \
belief prevails that the interest will De
about or per cent TO depositOrs and or
6 TO borrowers.
With this standard of interest there will
be little inducement 10 leave money in the
banks. The expected effect VIII be a
turning OF capital toward real estate, as
the speculative faculties or depOsltOrs will
likely be brought into play.
The auction sale held by Baldwin &
Hammond on Thursday brought out
lively competition among buyers of real
estate. Several pieces of property offered
Gy the Public Administr ator were sold at
fair prices, which, however, are subject 10
approval OF The Superior Court. Two lots
on Pacific avenue, near Broderlck street,
were withdrawn. as the bidding was not
equal to expectations for property in that
district. Another lot on Sacramento street
and WaVeTly pldcs was Withdrawn. Both
of these were offered for account OF the
private owners.
The admin sIrator's sale resulted as fol-
lows: Nos. 43t4315 Stevenson street, be-
tween Fifth and Sixth; substantial three
story frame building; rents $50 per month;
lot . ;6x75; $500. Nos. 13l7A, 1879,
1884, 1888 Clay street, between Jones
and LeaVepwOTth; two-stOry binding of
foHr modern flats, seven and eight rooms
each :; total rents S120 per month; S11, $50.
Lot 2Gx55, southeast line of SHERWOOD
place. 255 feet n Orth of Third street $1,000
Nos. 620-820A Washington street, near Du-
p0nt; t.Tee-story brick building; rents
S125 per month; lot 25:SX91 IS; SIO60O
Nos. 523-523h Nineteenth street, between
Dolores and Guerrero; lot 50x114: S3O5O.
Lot on north side Of Twenty-seventh
street, 1868 feet west of Church: size 62 a
JJ
Ridley place; $1,000 Lots 1886 1897, Gift
Map 2; west side Of Allen or Bronte street,
l25 feet north of Jefferson; size 5OX70
$3.50. Lots 8, 13 and "A. block 26. West
End Map /; each lot is S0x237 feet; $780,
Southeast corner of First avenue and Eddy
street; size 25Xl00; $500.
The private owners sales were as fol-
lows, the first being conditional: 325 Sut-
ter street and 90 Stockton place. through
from SutieT street to Stockton place. size
of lot 25x120; S24, 800. Lot at the junction
of Park avenue, McAllister and Leaven-
worth streets, with frontage of so feet on
Park avenue and a depth of 100 feet
$50, $50.
Building contracts as follows have been
recorded this week: Arwo-story dwelling
on California street and Ninth avenue. cost
S32O0; three One-stOry stores on Ninth
street, near Howard, cost S2400; dwellings
on Clay street. near Franklin. cost SIOO 600 :
family dwelling on Lake street, near Third
avenue, cost S2J00; alterations at 251q
Broadway, cost $500; brick building on
Pacific street. near Dupont, cost of mason
work $500; residence on the corner OF
Hayes nd Steiner streets. cost $500; cot.
tage on II street and Twelfth avenue, cost
$500; twO-stoTy dwelling on Bryant
avenue, near Butte street, cost S230O; two
stwO-stOry houses on Clay street, near
Franklin. plum Ding, etc, S1700; twU-story
frame residence on Clara and Fifth streets.
cost S36O0
An amendment to the rules of the Build
ers' Exchange proposes to increase dues 80
per cent. aud If necessary to raise them iu-
definitely. With a view to the exclusive
ness of the floor or the exchange another
amendment as follows will be presen ted
3 for consideration of the board OF directors
atitS next meeting:
To members in good standing a card OF
admission shall be issued, which shall be nom-
transferable. One ctrd Of admission only shall
b. issued TO any member or firm upon tile paw
ment OF single dues. Additional cards of ad-
mission shall be issued TO members and iirms
upon the monthly payment OF 81 for the first
card, ard so cents for each additional card.
Cards OF admission must be presented To the
doorkeeper in order 10 gain admission To- lie
exchange room.
Removal Notice.