The San Francisco call. [volume] (San Francisco [Calif.]) 1895-1913, 1909-07-10
BUSINESS GOOD IN
FIRST HALF YEAR
Real Estate Transactions Show
Healthy Condition of the
Market
Decrease in Cost OF Material
Greatly Stimulates Build
ing Up Of City

first six months of the year show a
healthy condition of the market. and
compare favorabiy with the volume of
business in other wears. These months
have been the mosz crucial in the his
tory Of the city. Many Of the new
buildings had beenf completed, and mer-
chants were too busy getting down
town aid gestingsin their new quarters
20 give their time TO outside matters.
Naturally there was a lull in some of
the building enterprises. and atten-
ton turned from business buildings TO
apartment houses and dwellings.
The history Of the real estate trans
actions during the last six months is
extremely interesting because IL gives
& better idea Of the wealth of the city
and the enterprise Of its citizens in the
last issue of the san francisco Real Es-
tate Circular. pubiisha6 by Thomas Ma
gee & Sons, is a comprehensive review
CT the business OF the last six months.
IN which it is stated:
The total number Of real estate sales recorded
curing the half year ending june 80. 1903 MAS
z.l6l. amounting IN value 10 Sl5-Il2 SOB. While
this toksl somewhat lovTer than the total for
TIE six months ending December 81. 1905, sim
me larger number 81 s. les made and the fact
taft included in these totals are comparatively
few very large sales. indicates a much more
general activity in The real estate market during
the first lelf Of 1899 Elsn was experienced
during the last six months Of 19OS, or IN fact.
than al any time since fhe Ere. As a proof Of
this IL need only be stated that during the nrst
haif Of 1909 4he total Of single sales Of $780,
o00 and over was a little over one and half
millions. while the amount involved in sales
Of 100000 ana over for the last half Of 1908
was over S5oe0OC0
BUILDING OPERATIONS
The figures, for building during the
period INDICATED continued activity The
substantial decrease IN the price of
all materials and the facti that contrae-
Tors have been willing 10 make fat
bids in competition for the erection of
new buildings. insx esd of the practice
which has prevailed during nearly all
the period since the fire of taking con-
tracts for the erection of buildings on
. percentage basis has stimulated, and
viii further stimulated the erection of
buildings. The total sum expended in
building since the fret reaches 1885,
z0S.757.
There was spent during 1906, 1907,
1903 and the first half Of the present
year s57454167 on frame buildings,
while for the same periods $71.007. 129
was spent on brick: and on alterations
sT.s47,461, making the grand total of
SISs4OS
These figures indicate only the actual
contracts recorded. Building permits
were issued during the same period
for q total of sI37.455,I 2s. AS nearly
al buildings erected have cost over 10
per cent more than the original con-
tract price. il is believed that the total
value Of buildings erected since the FIRE
amounts 70 about $3.50. GEO.
MORTGAGES AND DEEDS
During the six months ending June
so, 1903. there were 4,O0s mortga ges
and deeds Of trust recorded against
san Francisco real estate for a total
OF 22,456,z2S. During the same period
2.64S releases of mortgage and recon
veyances of deeds Of trust were re-
corded
With improving financial conditions
and an easier money market" says the
Circular, 1T is noticeable that the pro-
portion of loans made by private in
dividuals, which one year ago amounted
70 more than half Of all the loans
recorded against real estate has been
steadily decreasing, woIle the proper
tion Of loans made by our savings
banks and financial institutions has
been steadily Increasing Six months
ago the loans made by private individ-
Uals were q third Of all Of the total of
all loans on real estate, while for the
last half year they amounted to only a
quarter Of all the loans made on real es-
tate Under normal conditions in pre-
Vious years the loans made by private in
dividuals amounted to about a fifth of
all loans. Judging by this standard.
we are approaching, If we have not vet
reached. the normal conditions where
excessive interest rates will not pre-
vail and private capital will not seek
investment in mortgages TO such an
extent as has prevailed in the last two
or three years"
REAL ESTATE LOANS
During the half year Just closed the
savings banks and trust companies
have loaned over $4,000 900 on CITY
real estate, while during the previous
half year, ending December 81. 1898.
they loaned $4,000, 900, and for the half
year ending June so, 1908, they had
loaned only s5,O00.0O0. Nothing indi-
Gates more strongly the close approach
10 normal conditions than the increas-
ing amount loaned by savings banks
and trust companies and the increas-
ing proportion which these loans bear
TO the whole amount borrowed on real
estate In other words, out Of total
OF s22,456,z 2S borrowed on real estate
during the last siA months, savings
banks and trust companies have loaned
over $4,000. oe0-practically two-thirds
Of an the money loaned.
OF the amounts loaned by savings
banks, the German savings bank made
SO loans for a total Of S4,483,025; the
Hibernia savings bank made GIT loans
for a total of S4,192, e9e; the San Fran
cisco savings union made SO loans for
q total Of s1,2Ss.025; the Mutual savings
bank made 143 lOas.s for a total of
1915, 400; the Savings and Loan society
made SO loans for a total of s614,328;
the other banks followed with smaller
amounts.