The San Francisco call., 1909-08-21
LOANS INDICATE
REALTY PROGRESS
Sales, Leases and Building
Projects Contribute to the
City's Prosperity
Action by Equalization Board on
Assessments Is Awaited
by Purchasers

The temporary damper put on the local
realty situation by the uncertainty Oh
The action to be taken by the state board
NJ equalization in the matter of assess
,nent for. purposes of state taxation is
felt in the market THIS viii be OF
short duration. because the case of san
Francisco viii be presented TO the
eouafzers next Wednesday ny Assessor
Dodge and the spokesmen of the San
Francisco real estate board, and per-
hans others. The real estate board
viii be represented by William Magee
and John H. Speck The plea Of san
Francisco is that il has been assessed
already I'D TO the lisrft of so per cent.
In support OF this claim large assoft-
menf of figures has been compiled, all
of which are telling in their practical
application To real local values, ana
also in comparison with assessments
placed on counties other than san
Francisco. The expectation is that the
showing to be made by San Francisco
viii be convincing. as a large amount
OF careful laber has been expended IN
getting together groups Of facts that
Ere conclusive
AWAIT TAX DECISION
The summer dullness. that is of an
nuaI occurrence. has been a cofactor
with the doubt regarding the decisions
Of the eQuahzers, in limiting inquiry
for properties in the last week IN
vestors naturally desire to know what
the Inducements are, and taxes count
as an important item.
There have been a few sales in a few
DAYS that represent, singly, large fig-
ures. The situation is for the moment
marked rather by expectancy than by
realization. The most casual review
of the future brings TO light those
conditions that are certain 10 be ele-
ments of value. There Is no section OF
san Francisco that has not some IA
ciIities for transportation. and none
that fails 20 manifest puDlic confidence.
The situation differs radically from
that existing 10 years ago, or even
later. in that while business has been
scattered into newer neighbOrhoods,
and sections have become populous
that were relatively Of sparse popula-
tion not long ago, each change has
established a nucleus, which, having
its own neighborhood conveniences,
remains and always viii remain con-
tributory TO the central part OF the
city in a business way
UNCERTAINTY ELIMINATED
The utility Of the establishment OF
strong population centers is that the
element OF uncertainty for the future
is largely eliminaed and investment
values viii be applicable to them.
Addition of facilities for reaching
the distant parts of the city and the
extension of solid growth in many di-
rections viii, sooner, or later. increase
the values Of central locations The
same rule applies TO facilities for
travel from and TO the suburbs. Since
the last weekly review of existing
conditions in these coiumns a move has
been made that illustrated this point.
The San Francisco electric railway
company has secured rights of way
through the lands OF the Crocker es-
tate company at Amazon street, and
also rights through the Diamond es-
tate holdings. which lie in part in San
Francisco and in part in San Mateo
county. These rights were granted
on condition. as reported, that a line
shall be constructed by the San Fran
cisco electric railways company which
shall run, within a certain time to
connect with the Mission street line
connecting Parkside and IngIeside. and
going 10 Nisitacion valley, crossing
The san M2teo county line between the
san Bruno road and Mission street en-
route. A deed Of trust has been exc
cuted to the Union trust company
which includes the properties Of the
y az heiNt tltClIlC railway and the
franchises OF that road in II street. and
out TO the ocean beach by way of +
street and Ocean avenue, through the
Sunset district. A bond mortgage ha.
been executed for SO, ,0OO. 600. to bt
underwritten by the Union trust com.
pany- The money 10 be raised by loar
viii be used in construction and equip.
ment.
LARGE LOANS PLACED
In week several large loans have
been placed that show the genera
trend OF local realty affairs. The larg-
est OF these, to which allusjon has beer
made previously. is for 100000 at
per cent net. This loan, negotiated b,
Thomas Mage & Sons. is secured by
the City of Paris building and is from
the New York life insurance company
The building is owned by John Sprine
and Alfred Meyerstein, composing the
Union Square investment company.
The Fireman's Fund insurance com.
pany has loaned $225 900 TO Gertrud.
:. p. Saunders on the security of ths
southwest corner of California and
Battery streets. and $50 600 to Jane.
T. Kelly on the northeast corner o.
Montgomery and Sacramento streets
The first mentioned will be improved
by a five story class A building. Tn,
lot has frontage of 1G3 feet in Cali
fornia street and SO feet in Batter,
street The lot at Montgomery anC
Sacramento streets is 6oxso feet.
A sign Of the times is a growing in
ouiry for residence property for new
Corners TO the city, which is mentioned
by several brokers as having signif
canoe.