The herald., 1898-12-08
A WAITING MARKET WITH But
SLIGHT ACTIVITY
THE FEARS OF A DRY YEAR
Comparative Statistics Of Real Estate
Transactions for the Year-New
Pacific Steamship Line
OFFICE OF THE HERALD.

There is no movement in the real estate
market of any Importance, investors are
still waiting on the outcome of the season,
and are listening to the cry of the croaker
predicting disaster in case the rainfall
should be below the average. As matter
of fact, 1t is well known that, SO far as the
farmers are concerned, late rain will be all
that they will need. But precipitation of
an inch only at this time would do won.
ders in inspiring confidence and would
greatly assist the coming Christmas trade
among retailers.
The transfers for the week show some
falling off in amount, and SO far as the reg
ular dealers are concerned trade has been
exceedingly light. The month of November
as compared with the same month last
year shows a big decrease, the figures being
for November, 1893, $733,8l4, against No
vember, 1897, 81, ,337, 300.
The German Savings and Loan society has
made loan Of $4,000 on the Colonial flats
at the southwest corner Broadway and
Eighth, due February 2l, 1902, drawing in
terest at 8ls per cent.
The Real Estate Circular OF Thomas Ma
gee Il Sons Of San Francisco has the follow
ing to say upon the subject of the rainfall
which is worthy Of attention:
Fears of dry year in November, which
is only the early stage of the rainy season,
are quite premature, and are so also in De-
cember. Cattle and sheep lands, it is true,
because last winter was dry one, need rain
at once, and if they do not have it those
animals will suffer. But grain and fruit
that is, general crop lands-except in sum-
mer-fallowed grounds, are in no hurry for
rain. The failure Of rain in November, De-
cember, January and even well into Feb
ruary, does not always mean a dry year.
We remember one season, about fifteen
years ago, in which, up to the 10th or 18th
OF February, there was very little rain, and
everybody therefore felt sure that the sea-
son would be very dry and disastrous one.
But on either the 10th or 18th of that month
rain began to fall, and continued almost
without intermission for week or ten days,
the season turning out very fine one. 1t
is the failure of the latter immeasurably
more than the early rains that make bad
season. The latter rains gave out this year
about April, and failure of crops in most
districts resulted. We cannot find anybody
who now remembers two dry years in success
sion. Meantime, whether this disastrous
phenomenon has ever occurred or not, one
thing is sure-there is nothing SO far to
dread because we have not had heavy early
rains. Indeed, it used to be said that they
were signs of dry season; that when the
rains held off, when they did come, they
came bountifully.
Transfers for the week ended December 6
were 206, amounting to Sl2S, LAO, as against
2Ol, amounting to Sl46,0s0 for the preceding
week, and 233, amounting to S2sS, ,723, for
the corresponding week of last month.
Mortgages filed for the week ended De.
cember @ were lls, amounting to sl64,2l6,
as against 90, amounting to $4,000, for the
preceding week, and 49, amounting to $ll6,-
535, for the corresponding week of las.
month.
Releases for the week ended December
were so, amounting to SS2,S62, as against IA,
amounting to sll4,227, for the preceding
week, and ll9, amounting to $2l6,306, for
the corresponding week of last month.