The San Francisco call., 1899-12-09
ACTIVITY THE
MAIN FEATURE
IN REAL ESTATE
Healthy Condition Of
the Market.
THE BIG BALDWIN SALE
NO INDICATIONS OF FURRY
IN TRANSACTIONS.
III HE sale Of the Baldwin Hotel site

for 81 I.425.OO by F. J. Baldwin TO
James l.. Flood was the sole trans
action Of moment in the real es-
tate market during the past week.
but that OF Itself was sufficient TO cause
a feeling of relief and qualification. Mr..
Flood Will erect or the property q mag
rincent building that Will be al ad1Tn-
ment TO the city and a credit 70 his judg
ment. and the unsiShtly heap Of ruins
that threatened TO dishgure one Of the
most desirable corners in the city for
months. II not for years. TO come will
soon be obliterated.
To any one who has any doubt what
ever as 10 the healthy condition Of the
real estate market. the figures represent
Ing the value OF the property transferred
during the last thirty days should be
sufficient TO reassure him. The sales for
that period aggregate N.4Sl.i6l for inside
properties alone, and although there have
been no indications OF a furry in the
market, the prices obtained have been
fair almost without exception. Not only
have the sales actually recorded reached
this more than satisfactory figure, but
fully half a million dollars worth Of prop
erty changed hands during the last thirty
DAYS of which no record has as yet been
made. In view OF this fact and the nu-
merous inquiries for desirable investment
property. with which all the brokers are
besieged. and the additional fact that a
number OF big deals are on the very verge
OF being consummated, the property own
ers OF San Francisco have every reason
10 feel satisfied With existing conditions.
The investment of capital is not confined
TO any particular district. although the
wholesale district is receiving the most
attention. is but natural under the
circumstances. Buyers seem 10 be will
ing 10 invest in any portion OF the city
where income producing property can be
found.
There is a large surplus Of money on
hand in all the savings banks. and the
difficulty OF placing this accumulation OF
wealth has begun 10 prove rather a mat
ter OF inconvenience, even though IL does
furnish convincing proof OF the general
prosperity Of the reople. According 10
Thomas Magee Sons Real Estate Cir
cular the savings banks are reducing
their balances, some by the purchase OF
Government bonds and others by salts
bond securities. Continuing the "Circu-
lar says:
Nevertheless. they have still la.ge
sums 10 lend on city real estate at per
cent year, gross. they paying the mott
gage tax. The net rate they receive this
year is 4S7. 1t sometimes seems that. no
matter how much money the banks sue
ceed in investing or relending payments
OF old loans kept far ahead OF what they
can invest or lend out. The much bet er
demand for real estate that has developed
lately does not seem 10 aid our savings
banks much In getting rid OF surplus
money. Their prayer for more borrowers
for the present remains unanswered.
private lenders last month lent S56g l64
on city real estate mortgages, and re-
leased $3.50 80. The Hibernia Bank Lent
1921 Az in the city and released S245 3cO
Inc city mortgages given TO the German
Bank in November amounted to S6S $50 and
It's releases were SS9 067. The account OF
the Savings Union in the city was 500 80
lent out and So. 800 paid in. The total num-
ber Of city real estate mortgages record
ed in November was 297, amounting TO
81 ;2Sg al, and 240 releases OF the value OF
The local savings banks. building asso-
Citations and private capitalists loaned an
aggregate of $420 .595 upon real estate of
TINS city Tor the week ending December 2
The loans or the savings banks amounted
10 S363 l25. and were as follows: Hiotr-
MIA, 500, i50; German, sl05 100: San Fran
cisco Savings Union, $500; Savings and
Loan, SlS25, Humboldt, SIS, 300: Security.
1900; Mutual. S6450; French. $50 900 and
columbus, 500. The loans of the build
ing associations amounted to sl05jO and
tnose OF private capitalists and others N
Si6,920. The German Savings and Loan
Society made loan of SgO. 200 at & .,sr
cent. All the loans by the Hibernia ind
Mutual we're at the same rate the fo~rna,
bank making one of SCI. 800 and on ~
$4,000, with a loan OF $4,000 by the Hum
boldt at the same figure. The three loans
Gfsl
ana $4,000 at 6l2 per cent. Releases ON
$40 900. one oi
There were but three building co,,tr.o.,
recorded during the week Just ended but
the number recorded for the month a.
NoEehnpep ~ ZEN 9eJ was 9s OF an aggregate value
OF SigO' lOS. against ~, valued at SlS5 S23
Tor november. lSS; 90. valued az s25I 6s6'
for November, 1897, and 2S. valued al SiI2
SiS Tor November, 1895. For the first
eleven months Of 1889 the number of new
z ff led N4rne
value of s4.3S6,6Ss, against 66g. vailed az
$S,Z5' 6S5. for corresponding period in
1873, and S5s, valued at $4,000 PSI, for the
same time in 1891 The Building News snd
Review, commenting upon the situation
says: ''iOii'
November has followed in the wake Of
sh!,ii ~ sisVe, rionth i during the year and
SHOWS an increase over its nsmesake OF
1888. December more than promises To e&l
ceed the total of the similar month of last
.gamr' Frices OF building materials are
stlll on the raise. Laths are scarce and
We hear that 81 per NJ is the asking nrice
No decrease in the price OF lumber. iron
s.eel, lime, plaster paris. nails and kindred
articles can bs looked for during the next
year. SO, those who are holding off. seek
ing lower prices before they begin buIld-
ing operations. VIII certainly be left in
the lurch There need not be the least an
prehension as regards lower prices durin o
the year 1900. To replenish the low stocke
now so hideously manifest in many stores
throughout the whole country will keen
the manufactures busy for months ~
come. Every indication points TO the fact
that labor of all kinds will receive higher
/ remuneration during the next twelve
months than II has since the halcvon
days of 1890. So let every one wake nm
And let every workingman and mecba nic
grid on his armor and strike a grand hlov,
at the ballot box in favor OF new nublic
schools and a grand, modern-desisned
series Of hospital buildings Remember
also the Panhandle TO the Park and the
new sewer system"
In addition to the sale of the Baldwin
property. heretofore reported Thomas
Magee 4 Sons closed the following sales
during the week:
Residence lot on the north side of po-
cific avenue, 80 feet west of Baker street
west 40xl32:i, for $500; two lots ON tba
north side of Union street, between Devis-
adero and Broderick. 50Xl37:6 for s250o.
lot on the east side of Masonic avanue
between Waller and Frederick 25xI20 for
! Si40o; lot on the south side Of O'FarreIi
/ street, between Laguna and Buchanan
| 23xl20 TO Olive avenue, in the rear. on
! which two story flats are to be erected
/ for 1890.
Henry Feige has begun the erection NJ
/ two houses, 10 cost $1,000 each, one on
/ Florida street. near Twenty-second. ard
one on Vermont, near Twenty-fifth
Property-owners on Mission street have
appointed ]. p. Merrill. A. b. Wells and
/ w. ]. Lowry as a committee to investI-
/ gate the present condition of the street
and to ascertain the best manner in which
| it can be repaved between East and