The San Francisco call. [volume] (San Francisco [Calif.]) 1895-1913, 1895-09-09

value of $64S, 222, which exceeds any record
for that month since the year 1890.
The outlook for the balance of 1895 is
certainly quite promising. No doubt the
important factor in this evidence of better
times is that the owners of property gen
orally are inclined to fall in with the gen.
eral tide of improvement which seems to
be in the air. It has been shown very
clearly that where propertyholders are
prepared to improve their streets and put
their property in order a market can be
created, as the property IN this manner
becomes available for improvement, which
leads finally to an income.
The most important City loans made
during the last week were by the Hibernia
Savings and Loan Society at 81 per cent,
as follows: To Alyinza and Charity Hay
ward, $4,000 for one year, on the prop
erty 120X412 :6 at the northwest corner of
Larkin and Fulton streets, occupied by the
Strathmore Hotel; to Abbie T. Geraghty
$4,000 for one year on the property 25xS0
on the northeast line of Fourth street, 80
feet northwest of Mission; to Catharine
Miles, $500 for one year on the property
60x137:6 at the southwest corner of Blu
chanan street and Lily avenue; to R. c.
Cham bers, SIS, 900 for one year on the prop
erty on the southeast corner OF William
and Frederick streets, west 226:1l, south
275, east 70 g, north 1876, etc.; to Thomas
and Bridget Gegan, $4,000 for one year on
the property 60x74 at the north corner of
Second and Minna streets. and TO Rebecca
NJ. Davis, $4,000 for one year at 81 per
cent on 80 vara lot at the northwest corner
of Post and Scott streets.
Other large real estate loans were: By
the German Savings and Loan Society, of
$14, 900, to Antonio B. Gonzalez, for one
year, at 81 per cent, on property 55x120
on the north line OF O'Farrell street, 137 IS
east of Cough; by the Columbus Savings
and Loan Society, $4,000, to Frederick n.
and Jessie G. Hubbell, for seventeen
months, at 7 per cent, on property 50X100
on the so:th line of McAllister street, 81 IS
east of Scott; by Emma Joseph, $4,000, to
John P. Lysett, Tor five years, at 6 per
cent, on the property 22:11xS0, at the
southwest corner of Hyde and California
streets; by Emily F. CurIier, $4,000, to
George B. Mitchell and c. B. Currier, at 7
per cent, on outside block Dos, bounded by
Clement street and Point Lobos, Twenty
fourth and Twenty fifth avenues, and by
Mary V. Baldwin, $4,000, to Ellen J..
Hyde, for one year, at 6H per cent, on
property 81 :6X137:6 on the south line of
Geary street, 1877 IS west of Leavenworth.
In discussing the preference shown City
loans over those offered from the country
the Real Estate Circular OF Thomas Magee
& Sons says:
We nave before Sd1Q ana now repeat Il6C IN
making loans on real estate City savings banks
give decided preference to City borrowers, both
in regard TO the proportion lent and the rate of
interest, while some of the banks absolutely
decline to make loans in the country at all.
Such action is often criticized by country Dor
rowers and interior papers. In view of these
facts some comparisons between the two classes
of loans are in order. Borrowers on City real
estate make applications for loans wanted to
the banks in preference to individuals. AS a
result the banks secure the best City loans, or
at least high average. In the country many
OF the best loans are taken by the local api-
taiist-and there are many such now-and
loans rejected by them come to the City. They
do not offer, as rule, anything very enticing
to City lenders. To be sure, there remains for
the City banks the loans where the amounts
wanted are too large for local capital, but of
this further On.
Values OF city real estate are usually well de-
fined values of country real estate are much
more indefinite. i lender on city real estate
knows with some precision the value OF the
security he holds, and hence is safe in loaning
so per cent or even little more OF that value /;
the lender on country real estate can never be
equally certain of the value Of his security,
and therefore must protect himself by requir-
ing what at the outset appears to be more
liberal margin. AS rule city borrowers, hav-
ing fixed incomes or steady earnings, pay in
terest promptly, while those from the country.
being dependent on good crops, remuneratiYe
prices and other contingencies, frequently call
for the exercise of forbearance, and they often
request to be carried over whole year, which
leads to an undesirable and unwholesome ac-
emulation of interest.
Relatively city borrowers recognize their OBJ
legation to pay their debts, and in case OF de-
fault In payment of principal or interest rem
ders proceedings in foreclosure necessary they
do not oppose the legal proceedings while
country debtors, under like circumstances
often resist strenuously. apparently consider
ing 1t meritorious act to try and beat the
bank or other city creditors; and in this they
sometimes appear to have the support and
countenance of large portion OF the commu-
mites in which they reside. No savings bank
desires to hold for any length of time property
acquired in settlement of loans. AS a general
thing city real estate sells more readily than
that in the country. For the former there is
usually market at some price, while sales of
the latter cannot be pushed in the slightest de-
gree-the would-be seller must wait the fire.
quently long-delayed approach of the party
who wishes just the parcel of land he has to
offer.
Reference has been made to loans of large
amounts. Such loans are generally satisfac-
tory where the mortgaged land, being used for
farming or grazing purposes, yields one year
with another, an income in excess of the
amount required for payment of interest and
taxes. When such loans are made to assist
speculation, and with the expectation that in
terest and taxes can be met by sales of portions
of the premises, or from other supposed re-
sources of the borrower, the final result is
nearly always unsatisfactory. Loans of reason
able amounts on farms of small or moderate
acreage would seem at first view to be without