The morning call., 1895-02-12
ALL ARE SPECULATING
CITY Realty in Demand Among
Many People.
AGENTS BUSY IN THE RAIN.
0. 7. Won Rhein Warns the Com.
munity Against a Boom.
HIS FAITH IN THE CITY'S FUTURE.
What San Francisco Needs in Addition to
the Valley Railroad Is Stated
in Positive Language.

The rain yesterday failed to keep people
out of the real estate offices, contrary to
expectations of agents. Men and women
who wanted to buy city property paid
little attention to the storm. They went
about inquiring after various lots or build
ings and lots, and in many cases found
what they wanted. The inference from
such activity on an unpropitious day can
only be, that as confidence is returning
through the valley road enterprise and a
new and encouraging public spirit, capital
is again seeking investment in city real es-
tate.
"While California is affected for good OF
evil by national causes which touch US in
common with the rest of our country, we
have local reasons for anticipating better
times in the near future.
"No event more potential for the revival
of prosperity has happened to our coast for
years than the building of the San Joaquin
Valley road. 1t will attract immigration,
be of mighty encouragement to our farm
ers, cause the subdivision of large holdings
and quicken the pulse of commercial life, "
said 0. F. Won Rhein yesterday.
This road, which in some way will prove
but the first link in a chain, and the east
ernmost link of which will rest on the At
lantic seaboard, is but the forerunner of
similar enterprises. Its incorporation will
mark the day when California awakened
to consciousness of her strength deter
mined to show to the world that her sons
in 1895 are not unworthy of their pioneer
sires of 1S49 and 1850.
"Real estate, nearly as sensitive every
L, ;+eo1f &c
tible in San Francisco, the reason for
which may be found in the fact that there
is, perhaps no other city of its size in the
world in which so large proportion OF the
inhabitants are owners of realty.
"a large number of real-estate owners of
modest means, especially the purchasers
of the cheaper lots in our suburbs, which
are often offered on the installment plan.
buy realty as they buy lottery tickets on a
venture. These are the people who. knowing
little of values themselves, in dull times
are easily frightened, and by their readi-
ness to sell then at any sacrifice are apt to
cause a panic, and whose enthusiasm tends
to bring on an evil scarcely less deplorable,
viz, a boom.
''For organizing and building compet-
ing a road is not all that San Francisco
needs, nor is it all that she is able to ac-
complish.
"a cable to the Hawaiian Islands is a
necessity for our commerce.
'The question whether or not Seventh
and Mission streets is the best location for
a postoffice is res adjudicata. The site is
bought and paid for, and it has been
demonstrated that the foundation is good
The postoffice should be built, as that
means an expenditure of s., 500, 900 in this
city, and lastly, but more important than
any of these-yes, more important for Cali
fornia than all these together, including
the new roads the construction of the
Nicaragua canal.
For as it was inevitable that the Suez
canal should take from Calcutta the
supremacy of oriental traffic and make
Bombay the city of palaces and the first
port of India, so it is inevitable that the
building of an interoceanic canal on the
isthmus of Central America must draw to
our Golden Gate so heavy a percentage OF
the shipping of the world that Californian
commerce would be SO greatly stimulated
as to place this port among the foremost of
the earth and as to justify San Francisco
in claiming for herself the rightful title OF
Queen City of the West.