The San Francisco call., 1908-03-30
SPRING BUILDING
IS SATISFACTORY
Transbay Realty Market Fairly
Active Despite Lack OF
Normal Conditions !.
Financiers Careful Before Max
ing Loans Even on the Best
of Security

OAKLAND, March 9s.-Beyond any
question the spring building movement
shows satisfactorily. The real estate
market rejects fairly active tone, all
things considered. Ia a sman way
banks have made loans. though the
financial situation is not yet normal
This IS Que in great part TO desire on
the part Of financial interests 10 make
absolutely sure of their ground before
extending large credit even on the most
approved securities.
FOREsEE GOOD YEAR
Brokers generally feel that the mar
ket conditions warrant them in look
ing forward to good year. There
must OF necessity be some readJust-
rnent as a result Of the return to nor
mai following the excitement after the
San Francfsco FIRE II Is noteworthy
mat there is = steady demand for
homes. The building OF residences,
large and moderate, continues un-
abated. IT is one of the features of
the realty situation. In the new resi-
dence districts, Piedmont, East Oak
land suburbs North Oakland and else
where, the new buildings are. going up
with noticeable rapidity- Not little
activity is shown in the territory GEN.
tering around Fortieth street and Tele-
grsph avenue.
New FATS. apartment houses and the
like are looming up. and what was a
few years ago used for circus shows
has become a well built residence dis
trict-
The recent sale to the city by Edison
r. Adams of his holding at Adams
point, along Lake Msrritts shore, for
$4,000, and some of the deals incident
thereto are important milestones in the
record of the city's progress.
ONCE OFFERED FOR $4,000
Twelve years ago all of this Adams
and other holdings south of Grand ave-
nue. TO Lake Merritt were offered to
the city for $4,000. The city at a
bond election rejected the offer. Now
that same land stands at total valua-
tion Of $915.0e0 The city has acquired
part Of it at an expenditure of $4,000,
with an option on more at S1S0.00o,
making S750,00o. A portion valued at
$4,000 is out Of the reach of the city.
This is one of the most significant
deals OF the present for the figures
upon which the purchases were made
were based upon expert appraiSements
by men of wide experience and high
standing The valuations were con-
sidered conservative rather than above
ruling market prices. In fact. Edison
Adams would not hearken to the OFFER
Of S1f0,000 at first and the city was
compelled TO bring a condemnation
suit before he agreed to the terms.
No little interest is being taken in
the progress of work by the Western
Pacific railway. The Gould forces are
losing no time in pressing their lines
forward toward this city Construction
of the piers and slips at the north
harbOr training wall terminus is well
along There seems reason to believe
that the engineers announcement that
Western Pacific locomotives viii be
running through Oakland's streets by
Nl viii be realized in fact
HARB0R IMPROVEMENT NEXT
e Harbor front improvements promise
TO occupy much Official attention this
year. The recent declaration by the
4. board Of public works that the city
is now prepared 10 take over control
of the wharves and docks under the
decision Of the United States circuit
court OF appeals in the Western Pa
cihc-Southern Pacific litigation has
stimulated no little interest in harbor
affairs Plans for bonding the city to
raise money with which to start the
improvements projected are well in
hand.
The following figures were received
by the Oakland chamber of commerce
and sent out yesterday. Clearings this
month. s5,S21. 70s-55; corresponding
month last year. sl4.246.170.22 Build
ing permits this month; New construc-
tion. 1S2 permits at cost of S424299;
alterations. additions and repairs, 1O4
permits at cost Of $45,2I5. Total, 2Ss
permits al cost of S469,5l4. Core
spending month last year: New con-
struction. 26z permits at cost of s967.-
276; alterations, additions and repairs,
l35 permits at cost Of $12I,249. Total,
3ss permits al total cost of sl,OSs,525.
BUILDING PERMITS
Following is the summary Of build
ing permits applied for during the
week, as compiled by Walter B. Faw-
cett, secretary OF the board of public
works: