The San Francisco call., 1896-08-01
John T. Doyle Makes Certain of
His Clients Rental
Income.
HOW MRS. DoNAHUE IS PAID.
For San Francisco Property She Gets
Ounces of Gold or British
Sovereigns.

John T. Doyle, the prominent lawyer,
declares with evident pride that the man
who laughs East laughs best. OF course,
| he says so in other words, but he mods his
| head, looks wise and remarks with a
| knowing air: 81 knew what l was doing
when l insisted on having my clients
| lea ses contain provision that rent be
paid in gold bullion or pounds sterling
money of the United Kingdom Of Great
Britain and Ireland.
"You may think it strange, but don't
you think l knew what ] was doing?
saw this thing coming, this disturbance
of finance. Four years ago / could see ap-
preaching some serious change in the
value of United States money. Now, is it
not here? Have we not reached that
point where we are menaced by change ?
That is why took time by the forelock
and looked ahead. That is why / de-
mandeG payment of large sums in gold
bullion.
Ounces of gold. They are my favorites.
When man could not tell what was GO
ing to happen with regard to money, only
you felt that crisis was not impossible,
ounces of gold, standard fineness, would be
absolutely SALE"
Mr.. Doyle is attorney for Mrs. Annie
Donahue, who has large real estate inter-
ests in San Francisco. Mrs. Donahue
lives here and is not given to sojourning
in Great Britain and Ireland. In fact this
City is her home and here her money re-
mains. Leases in which she appears as
lessor make provision for payment in
pounds sterling instead of in the custom
ary gold coin OF the United States" as
specified in the State laws, have recently
been recorded at the City Hail. Naturally
roy ricn ~ cfd n y
among real estate agents and fnanciers
but those men will retain their opinions
on the necessity of such an expedient
The following Is copy OF the clause in
those leases demanding English money in
payment of rentof San Francisco property:
But the monthly rent or sum of four hun
dred l$400j dollars, payable only as herein
specified, in equal installments on the eighth
day OF each and every month of said term,
said monthly payments TO be made in gold
coin OF the United States of the mint standard
of AID. 1851, provided, however, if at any
time during the term hereby created, the lessee
orfts assigns shall propose or offer 10 pay said
monthly rent or any part thereof in any other
currency than that above specified, the lessor
her heirs or assigns shall have the right by an
instrument under her hand to declare the
terms of this lease changed, and they shall
thereupon be changed SO that the said monthly
rent shall theDceforth become and be the
sum of eighty tfS0l pounds sterling. money of
the United Kingdom OF Great Britain and
Ireland,
The lease in which this appears is re-
newal of q lease with the Union Stock
yards Company for property on Townsend
street 1t is now on record at the City
Ball.
Similar leases have been made with
other tenants of Mrs. Donahue, with the
exception that instead of dollars they call
for gold bullion, 900 fine and in ounces
and fractions of ounces. A lease for a Dor
af ho GAl, ~ hr,il = =.
this plan with the option of substituting
British sovereigns if the lessee and lessor
wish to make change in the money.
Mr.. Doyle gave his explanation for the
peculiar form of agreement yesterday:
-Four years ago." said ne, II made
lease in one instance calling for payment
in gold bullion, 800 fine, and specifying
the weight OF course, payment could be
made in United States $50 gold pieces, for
the specifications were equivalent to SO
many $40 pieces. Anyhow l could send
the bullion to the mint and have it turned
into gold coin.
zone tenant said to me, Il don't under
stand this gold bullion proposition
He refused to take up the lease on the
terms proposed for payment. said, You
understand pounds sterling. then? +"
HE said he did. So l replied: We'll
make it pounds sterling, or their equiva-
lent"
Every we'll, says he, and we MAIDS the
lease out that way
Everybody knows what an English
sovereign is. It is not liable to fluctuate
in vaiue-it is a standard Of gold, if YOU
will, and there can't be any quibbling over
it when it comes to determine the diff
ference in values of currency. 1t is very
easy to give the equivalent of English SOW
ereigns, so bill of exchange would not be
necessary"