The San Francisco call., 1897-01-25
REAL ESTATE
MARKET REVIEW
Return of Former Pros
perity and Confidence
Is Slow.
The Situation Has Not YET
Changed Materially for the
Better.
Ben hcia Eff cts in Country Property
By Reason of the Prospects for
Better Prices for Products.

materially for the better as yet; but then.
considering the low ebb to which the market
had fallen the return to former prosperity and
confidence must naturally be slow
California has, however, about turned the
long lane and will soon be looking ahead
There has been no time in lis somewhat re-
markable career when the future seemed more
assured. In the early years of the State Its
pros sperity depended upon unstable IN
dustries. Mining was then the chief
of our productive occupations and the
threat was always over US that mining
would soon cease 10 be profitable. SO little
confidence was felt in the stability of our
mines that most men Who were fortunate
enough to realize early expectations took
themselves and their money TO more stable
fields of enterprise.
Mining is still leading industry, but is only
one OF several. Even mining has ceased to be
! the harvest it once was. Agriculture, horti-
culture and manufactures now giving fair
returns 10 capital and labor. The tone OF busi-
ness has become more conservative. Men have
| given up trying to make fortunes in a day
and are planning on slow and sure profits.
In the last year or two the attention OF CAPT
tai has been directed to measures to distribute
the money taken from people OF the State. To
this ard industries are being established to
supply the wants of our people.
Our look ahead embraces kindred factories
located on all the shoreline OF the bay, refining
iron ore into steel and fashfoning steel into
watchsprng gs and other forms OF the higher
use; weaving cotton and wool into cloth and
ioning Goth into costly garments, and in
other ways taking the low-priced raw mate
rial and adding 10 1t a hundred-fold in value.
Our greater prosperity lies in the uneq ua ed
sdvantages nature has given Us TO become one
of the great centers OF industry in the world.
| Meantime are moving in the right way.
The most notable event of recent date has
been the construction OF the Valley Railroad
f-1,. will
| no douot witness the completion OF line
from San Francisco to Bakersfield.
This railroad, under the control of men who
have the good of the State at heart, Will bind
the broad and rich San Joaquin Valley TO San
Francisco.
One enterprise will pave the way for an
other. The success of one will serve to show
what can he done with another. The other
forty-four States of the Union hold out no
such promising field for investment i'll land
A little of the energy that has often been mis-
directed in the past will put California in the
foremost group of States. There remains but
three years more of the nineteenth century,
and within that time many of the things
herein predicted will be accomplished facts.
The outlook for better prices for wheat, fruit
and wine is good, but perhaps the most cheer
ing fact OF all Is that the water injected into
the prices OF farming lands by booms and
boomers has been nearly all squeezed out.
Hard times, low prices for land products and
many foreclosures of mortgages did this. All
of these things were reckoned as misfortunes.
and they were misfortunes, too, but misfor-
tunes not without some compensation.
very thinly settled and very extensive
country, with remarkable gifts in the variety
and value OF its land products, has no need SO
great as that OF population, and we al! know
that nine out of ten newcomers, who in very
few cases are men of means If they come to
live by tlling the SOIL can possibly buy laid,
especially fruit land, at the prices 10 which it
had been baIlooned nve or ten years ago.
| Land the best of our land can now be
bought at one-third or one-half the prices at
which it was then selling. That the various
events named, which led to the general lower
ing of prices, involved much misfortune and
punishment there is not The slightest doubt.
That these misfortuneS and punishments were
wholly undeserved in some cases is undou
, edly true, but the most of v hat happened was
inevitable and much OF it was deserved.
The general result, in the much-aeeded re-
duction of price of land and the resulting en-
couragement of real settlers TO buy it will, in
the end. greatly outweigh the m s1ortunes.
Everybody, too, living off the soil, has been
taught the much needed lesson that those
who buy land must till it, and that to calcu-
late that the enormous profits from fruit lands
which were reaped in seasons OF high prices
and in isolated cases, would be general and
| continuous, was the height of folly.
Those, therefore, who bought at high prices
and mortgaged heavily to buy, as so many did,
were all fooled in ca culating that tney could
speedily sell out at higher price to bigger
fools or more reckless SPECTATORS than them
| selves
In snort the old lesson has been learned by
farmers, after, many heavy stripes, that
economy hard work and keeping out of debt
constitutes the only reliable road to progress
and create the only real guarantee of pros
perity.
REVIEW OF THE RECORDS.
Ninety-two deeds were recorded during the
past week.
The mortgages were seveuty-e1ght in mum.
Der, aggregatlng $273,113. Among them were
the following:
Robert H. Hind to Letitia W. and Elizabeth
NJ. Hudson, $25, 900 for one year at 7 per cent.
on property beginning at the intersection oi
| hol ljnad diuidiO q paul Trap nd he
son Tract with the west line of Railroad
avenue northeast .43 chains, northwest
81. 27 chains, southwest 1873 chains, south
east 80: % chains, excepting therefrom blocks
40, 483 aud 496 of South San Francisco
Homestead and Railroad Association and
20ox20o feet on the northwest cor
ner OF Twenty-fourth avenue and L
street, also excepting two other acres OF
property in the South San Francisco
Railroad and Homestead ASS ciation;
Hibernla Bank to Abraham Morris, $4,000 for
one year at 6]a per cent, on property the
south line OF Sacramento street, 81 j west OF
Steiner, 25:10x120; same to David A. Fellows,
$4,000 for one year at 81 per cent on prope rty
ON the southeast corner of Filbert and Lyon
streets. 147 :3x137 IS; same to John H. Good.
rich, $3.50 for one year at 81 per cent, on
praperty the south line OF Fulton street,
1876 west of Laguna 45:10x120; same to
Gtsave Neuberger and Oliver b. Martin,
$1,000 for one year ar 81 per cent on property
on the north line of Liberty street. $50 west OF
Guerrero, 75x114; By the German Bank to
) Bertha ana Charles CeIlarius, $4,000 for one
year at 4 per Cent, Oh pTOptTly Oh Lue SOUtu
line OF Vallejo street, 100 east of Buchanan
81 :6 by south 1877 IS; by the HI bernia Bank to
Pierre and Marie Prlet, $50 600, for one year
at 81 per cent, on property on the north line
. of O'Farrell street. 7:6 west OF Powell, west
90 by north 1876; by the same to Annie r.
John n. and Carter p. Pomeroy and Harriet
II. Thompson, $13, 600, for one year at 612 pei
cent, on property on the northeast corner o.
Hyde and Clay streets, north 6S:9 by cas-
1 1876 by the German Bank to Will c. Hayes
e $11, 900, for one year at per cent, on prop
erty on the southwest corner of Devsadero
y and Post streets, south 125, west 100, north
so, east 25, north 70, east rs; by the Hibernif
Bank to Mary w. Newman, $20, 900, for one
4 year at 615 per cent, on property on the north
: line of Bush street. 100 feet west of Van Ness
avenue, west 1876 by north 100; by the same
4 10 Joseph A. Oliver, $40 600, for one year q
It 612 per cent, on undivided half interest on the
r northwest corner of Mission and Eightf
!; streets, southwest 275 by northwest 275
q by the same to Abraham Aronson, $50, ,0C0
!, for one year at 81 per cent property on the
north line OF Geary street. 165 west OF Powell
west so by north 1878; by the same 10 l.
Elkus, $72O0 for one year a. 612 per cent, or
| property or the north line of Pacific avenue
los east OF Fillmore street, east 20 Is by north
!, | 127:SH; by the same TO Edward Deadly, $40, ).
y 600, Tor one year at 81 per cent, on prop
i erty on the north line OF Hayes street. 90 east
d | OF Laguna, east 40 by north 100; by Sarah
J. Newman to William H. and Lily l. Roden
$4,000, for three years at 613 per cent, or
| property on the north line OF Vallejo street
n 1SS:l0 west OF Franklin west 30 by north
l37 Is; by the Hibernia Bank to Louise
MOoser, $4,000, for one year at Ga per cent on
: property on the west line OF Pierce street, las
| nf TTDf0 kx O-.o.l