The San Francisco call., 1906-09-29


great building boom would follow.
There is not the slightest necessity
for ANYBODY having any misgivings as
10 the future OF the city. At one time
II is true building was practically at
standstin. but any person who taxes
the trouble to go about the city cannot
helm but see that there is oecloeo
change everywhere. There is hardly
part OF town in which there is not some
building going on. And then again the
least observing among us cannot help
noticing that the town is fast niling up
and that there are hundreds oaiiy COM
ing into the city, all of which means
that San Francisco is regarded as one
of the best places IN the country not
only to find work. but as a place for
the investment OF capital.
STREET CARS AND BUILDING.
There can be no Disgusting the fact
that in the rebuilding OF San Francisco
the United Railroads will have TO be an
important factor. The new and greater
San Francisco will be a very different
city 10 the old San Francisco, and this
can only be accomplished IL the man
agement OF the street railroad system
fuIfIls its promise OF a better and
faster service.
The tendency Of the day is to get
out OF town This is not confined solely
10 the rich and the fairly well 70 do,
but 10 the mechanic. and the man who
works by the day. Every real estate
man says that never before in the his
tory OF San Francisco was there such
an active inquiry as there is now for
out-of-town lots. This means that men
who are in the receipt of fairly good
salaries are buying their own homes,
and they are looking for property
either in the Richmond district or in
the southern part Of the city and
county.
The purchase OF homes by people who
before the disaster lived in the great
tenement district means an entire
change in the manner OF life OF the
working inhabitants Of San Francisco.
Before the fire they were herded into
tenement houses and the district south
OF Market contained the bulk OF the
voting population. This is to be en-
,tirely changed. The tendency on the
part OF the man who works for daily
wage is now to move farther out OF
town and, instead OF paying rent for
few rooms, 10 have his own home What
does this mean? Simply that we shall
have on the western edge of this conti-
nent the ideal citizen and the ideal city.
The curse of all cities has been the
herding into small space OF large fami-
lies. The children. deprived OF the
benefits OF pure air and contaminated
by bad associations. grow up to be
weaklings. Temptations are forced upon
the heads of families in the tenement
district by the not infrequent places Of
refreshment. This will not be the case
in the out-of-town district
CHANGE IN OWNERSHIP.
The great drawback has been the
want OF communication between the
outlying districts and the business
portion Of the city. but the contention
IS made that IL the United Railroads
redeems its promise as to service a
large population will be built up in
the Richmond District and also in the
southern part of the city, as men will
be not afraid TO live out Of town when
they can get quickly to their places Of
employment.
With the tenement district practical
" wiped out there will come q great
change in the ownership of south of
Market street property. There is big
Inquiry for large area space in this
part OF town, which means that there
viii be a great wholesale business
done south Of Market. and the streets
which run north and south will be
lodging-house. and retail merchant
streets.
The future of Third street as a
thoroughfare Of lodging houses and
shops has already been noted in the
Call and Fourth street win be a dupli-
cate of Third. F. l. Turpin, who con-
Quoted the Hotel Hamilton and also
the Royal has taken a lease of a ho-
tel on the corner OF Fourth and How
ard and Colonel John Young, who man
aged the Russ House and also the
Netherlands, will have hotel on
Fourth. These houses will not be what
is called q frst-class house, but will
be like the old Windsor.
BOOM on NORTH BEACH.
The greatest boom today is in North
Beach property and prices have gone
soaring. The reason that real estate
men give for the extraordinary in
crease in values is that the Southern
Pacific intends to put In q ferry sys-
TEN at the foot of Van Ness avenue
and further that the United Railroads
has shown an inclination to better
its service. piece OF property which
was bought three years ago for the
sum OF $4,000 is now held at close to
$50 900 and no satisfactory reason ia
given for the rise IN value. 1t is also
said that some wealthy people are try
ing to buy out the smaller property
holders with the view OF making the
district overlooking the bay choice
residential quarter. The fact that the
Government intends to establish head
quarters at Fort Mason may have
something 70 do with the sudden raise
in values. but as the War Department
win have the transports land here and
make Fort Mason a huge workshop
Il might initiate against raise IN
value for residence property alone.
BANKS AND LOANS.
There is a good feeling regarding
the making OF loans by the savings
banks on real estate and the rat,
is ss per cent to SO per cent.
A p Gianninni, vice president Of the
Bank Of Italy. IN speaking OF the situ-
alton. as far as the savings banks are
concerned, said. we are loanins
money on real estate on a basis OF
3s1-5 to 50 per cent. and during this
month we have loaned more than $780,
600 and most OF this money was foI
building purposes. The Latin quarter
is looming up we'll There are a great
many permanent structures going ur
IN this part OF town. We have Jusi
commenced the building Of our eighty
FIVE flats and FIVE stores on Montgomery
between Bay and North Point
and we expect 10 have them ready foi
occupancy In about two months. We
have Just leased q hotel OF seventy.
Eve rooms and two stores at the north.
west corner Of Union and Jaspe,
streets for $500 month. We are slsS