The San Francisco call. [volume] (San Francisco [Calif.]) 1895-1913, 1895-03-23
CLAUS SPRECKELS
GETS THE CORNER,
THE RIVER PROPERTY AT THIRD
AND MARKET SOLD BY
THE COURT.
TO BE LEASED TO THE CALL"
A MAGNIFICENT MODERN STRUCT-
URE WILL BE ERECTED
WITHOUT DELAY.

The Ryer property at the southwest
corner of Market and Third streets passed
into the hands of Claus Spreckels yester-
day on an order of the Probate Court con-
firming the sale.
a bid of $306,000 was made by Mr..
Spreckels when the property was offered by
6. II. Umbsen d Co. at auction recently.
This figure did not quite come up to ex-
pectations of the executors, who declined
to accept it, thinking that more would
be offered in the Probate Court.
The advance bid of 10 per cent required by
law was not made, however, last Thursday
when a motion to confirm the sale was
made before Judge Slack. R. H. Country
man, attorney for Fletcher RIVER, stated
that he believed such bid would be made
if the court would grant continuance for
one day. The courtesy of days post
ponement was extended Mr.. Countryman.
When the matter was taken up yesterday
afternoon Fletcher Ryer's attorney in
formed the court he had not been able to
secure an advance bid.
'That means, l suppose" replied the
Judge, that no other parties are going to
bid"
The attorney could not see it in the same
of selling the property, as there was utfi-
cient money on hand to pay requests, ex-
cepting charitable requests, which he said
could not be regarded as valid until an ap-
peal by Fletcher Ryer was dete rmined by
the Supreme Court.
I, B. Bishop, attorney for the executors
explained that the will ordered the prop
erty to be sold. Indeed, the heirs could
not obtain the property, since it was Mr.
Ryer's last wish that it be distributed in
requests.
''What we are trying to do" continued
Mr.. Bishop, sis to sell this property so as
to get the estate ready for distribution and
wind it up"
"As 1 understand it" Judge Slack re-
marked to Attorney Countryman, ''your
| clients want the property held in order to
| have the executors virtually speculate on
| the market"
The counsel admitted he had not talked
with the other heirs and could not say
what they wished to do.
"There is no evidence that the price of
fered is an unfair price" added the court.
IN have to confirm the sale.'
G.. H. Umbsen, the real estate agent
who sold both the properties of
the Ryer estate, Attorney Bishop, rep
resenting the executors, and the exec
utors themselves, expressed themselves as
very well satisfied with the two transac-
tions.
John D. Spreckels was asked whether a
new building would be erected at the cor
ner of Third and Market streets.
Evidently there will be- he replied
''as my father did not purchase the prop
erty to let it lie in its present condition.
The building now on the lot is entirely un-
suitable.
at is admitted that this is one of the
most important corners in the city and
| the buildings are old and wholly out of
place in that portion of the city.
Eve propose to lease the new building
| to Mr.. Shortridge, who has been looking
4! for suitable property for the CALL office.
| erect such a building as he may desire and
| lease the entire building to him for long
term of years.
1.-THE old buildings will, therefore, be re-
| moved and the plans at once prepared for
magnificent structure, which will be an
ornament to the city and an appropriate
home for first-class metropolitan jour
nal"
Mr.. Spreckels was asked about o rumor
that he desired more land adjoining.
eff we desired more land" he said, 1--WE
should have purchased it before this. If
we had more lands-a bigger frontage-it
would require large light well, which
would consume much valuable space that
could be utilized for rooms, and we can
obtain all the light necessary from the out
side In building or the present site with
out having a court.
1--WE have decided upon the architecture
OF the building, and the architects will be
put to work at once. The building will be
steel frame one and fire proof"
Have you decided upon the number of
stories?"
"Well, no; not as yet. As the city has
grown it has been found desirable to use
many more stories than formerly and thus
provide more working space
The lot has frontage of IS feet on Mar
ket street and rs feet on Third, and is
square on which magnificent modern
building can be constructed.
It's mighty poor dinner when the