The San Francisco call. [volume] (San Francisco [Calif.]) 1895-1913, 1896-06-22
REALTY MARKET REVIEW
Uncertainty Regarding Tax
Levy Injurious to
Business.
AUCTION OF COUNTRY LANDS.
A Portion of the Famous Murphy
Ranch to Be Sold Next
Saturday.
AUCTION OF COUNTRY LANDS.

WciSII WIN TIC CuptINlSOIS W
induce them to try and reduce the rate
rather than increase it. II this can be
accomplished it will no doubt create more
confidence in real estate investments, and
with the prevailing low prices a much
desired impetus should be given the
market.
But even should this year be safely
passed over and the tax rate made salts
factory the fear of a big levy in succeed
ing years will yet continue TO be menace
to investments in San Francisco realty
from year to year, until some other means
are adopted for raising money for perma-
nent i'm provements.
Ia large portion OF the amounts called for in
the estimates made of money required for
municipal expenses the coming year are for
what may be classed as permanent improve
ments. These include the repairing of &C
cepted streets, the new municipal building,
Golden Gate park improvements, etc. If the
City could be bonded for sufficient sum to
make all these Improvements at once and have
it over with, it would effect very ma terial
reduction in the tax rate for years to come. 1t
is only by passing the new charter that all this
can be accomplished with satisfaction and
profit to the taxpayers OF San Francisco
No city has finer future than this City has,
and for this reason judicious investments in
realty here mean an assurance amounting to
certainty of a handsome profit through
enhancement of values. A high tax rate is
just now the one CHER encouragement to the
purchase OF real estate. With this evil
moved, marked revival in the market would
Immediately lake place.
The unnecessarily high tax rate of last year
places San Francisco at disadvantage when
comparisons OF the tax rate OF this and Eastern
cities OF approx innate size are made. 1t looks
worse when such comparisons are made than
it really is for ii is almost the invariable rule
that where a low tax ate prevails there is
considerable bonded Indebtedness. San Fran
cisco has no Indebtedness TO speak of, but, in
stead, pursues the unwise plan OF raising by
taxation from year to year sums needed Tor
permanent improvements, ms tead of raising
the money on bonds. If the latter plan were
pursued II would remove the burden of pay
ment for permanent improvements 10 future
generation, which is but just and right, since
they would be equally benefited by such i'm
provements, while, in the nature OF things,
values are certain to increase with the growth
OF population, thus making the property bet
ter able in the future TO pay for these improve
men is than ii is at present.
Real estate owners and dealers generally are
in favor of bonding the City, but realize that
1t ought lot to be done under the present form
OF municipal government; For this and other
equally good reasons they are advoca ting
earnestly the adoption of the new charter.
The many evils that its adoption viii remedy
will have most substantial ana bene fetal eff
feet upon real estate values in San Francisco.
REVIEW OF THE RECORDS
Eighty-six mortgages aggregating 1884, 023
were recorded last week The principal ones
and the security given were:
| for one year at 615 per cent, $1,000 on prop
erty at the south" est corner OF Fillmore street
and Golden Gate evenue, south 137 IS by west
! 1877 IS; by Allen L. Hayward, for three years
| al 61a per cent, $12f $50 on property on the
| west line of Mason street, 161 81 feet north of
| Suffer, north 24:1115 by west $40, and by A.
| c. Freese, administrator estate of Frank NJ.
! Bee, for six months al z per cent, $4,000 on
| property at the southeast corner of Suffer and
| Octayia streets, east 25 by south no.
| The releases filed last week mum bered thirty
| eight, aggregating $202, 674. The larger ones
| were:
By the French Bank to Colombo NJ Berger,
| $11 800 on property at the southwest corner of
| Fell and Franklin streets, south 120, west 80,
north 80, east 20, north 80 and east so; by the
| German Savings and Loan Society to Phoebe A.
| and W. K. Hearst, 500, 600 on property on
| southwest line OF Ninth street, 90 northwest OF
| Sheridan, northwest 100 by southwest 100;
southeast line OF Irwin, 275 northeast of Sew
| all of outside land blocks lib to 1116, 1883
to 1855, 1887, 1870, 1871, 1850 to 1856; undi-
vided two-ifths OF blocks 554. 557, 500 to
| SIS, SIS to 5S4, SCI to 500, 500 to COS, 609
| to 615, 622 to 625, Bay View Tract; lot II
in block 537 Bay View Homestead Asso-
citation; lot SO in block $50, lots % and 26
! in block $50, lot 81 in block $780, lots TO z in
| block SOL lots 8 to IL i'll block 56l, lots II to
| IS in block SCI, lots II and 1S in block SCI,
| lots 19 and 20 IN block Sol, lots "a, % and 26
in block SOL, lots % TO 81 in block SCI, lots 10
| to 8 and 81 to 81 iii block 551, lots % to 81
in block 552, lots to 8, Is to 49, 27, %, AZ,
AZ, 46 and AZ in block sos, lots 9, II, ID, 16 to
| -
in block $50, Bay Park Homestead Associa-
ton; a Il interests in lots 81 and % in block
| IL, Flint Tract Association.
| Ninety-seyen transfers were recorded last
week.
| There were eleven building contracts filed
| last week, calling for a total expenditure of
! 1874, 041. The particulars of these contracts
were as usual published in THE CALL the days
| they were filed.
MISCELLANEOUS NOTES
! There will be an opportunity this week to
| demonstrate whether there is any more of a
! demand Tor choice country lands than there is
| City property. 1t will be on Saturday next.
the 9th inst., the occasion being the auction
sale by Easton, Eldridge & Co. of some 400
| acres OF the famous Murphy ranch IN the Santa
| Clara Valley This ranch, as is well known,
| comprises the very cream of that garden spot
| of California. 1t is but eight miles distant
from San Jose, and there is a railroad station
| on the property. 1t has been divided into
| tracts OF ten acres and upward, and will be
| offered in these parcels. The soil is rich and
prolific, and the property is in every respect
the choicest that could be obtained for the To-
cation OF an ideal country nome. Easton Ell
! bridge d Co. will run a special excursion train
on the day of the sale, and the rate for the
| round-tr1p will be but one dollar The train
will leave the Third and Tow nsend-street depot
at 10 A. NJ, and returning will leave Murphys
at 3 80 P NJ.
Fitchburg, the popular ana prosperous SUBJ
| urb on the other side of the bay, is in a very
hourlsbing condition, and at the present rate
| OF growth bids fair to become one OF the most
| County. Its location is such that its future
greatness seems well assured. 1t is but forty.
| five minutes distant from San Francisco. 1t
| has wafer transportation facilities is on the
| line of the Southern Pacific and also on the
line of the Oakland, San Leandro and Hay
| wards electric road. 1t is regularly laid out
| into blocks and lots bour ded by wide streets,
graded and graveled and ornamented with
, shade trees, cypress hedges and evergreen
| groves. Among the improvements already
| built and under way are hotel, school, a
| church, stores and many residences. The lots
| are % and so feet front by 100 to 200 fee t
| deep. They are selling at from 1925 per lot
| upwards, the terms being 10 per cent cash and
| the balance on easy installments. Detailed
| information can be obtained from W. F. Nc
Clure, 19 Montgomery street, or Thad S. Fitch
at Fitchburg.
/ |. Selig is about to make improvements on
! his property on the northwest corner OF Fulton
| street and Van Ness avenue, the cost of which
| will be from $25 900 to $50, 900. The plans Of
| the new structure are by NJ. j. Lyon the ar Chi
| tect. portion of the old improvements now
| on the lot, consisting of half a dozen old
| houses, will be torn down. Those of the houses
| that remain are TO De moved to the rear where
! they " i'll occupy depth of forty feet, the size
| OF the entire lot being 1899 by 100 The new
| Improvements are to consist of three-story
| building OF ornamental exterior substantially
! finished. The ground floor Will be divided
| into five stores and the two MINER hnors will