The San Francisco call., 1909-11-27
MUCH MONEY SPENT
ON BANK BUILDINGS
German Savings and Other
Financial Institutions Invest
Millions in Structures

Three handsome buildings are in
course of reconstruction in California
street, beginning at the point where
Battery and California streets inter-
sect, and the immediate building ter
ritory reaches to the old site of the
German savings bank. For some
months the. reconstruction of the Ger
in progress. The structure is now near
completion and in point of ornamental
tion and general adaptability to
banking business 1t stands high in COM
parison with others. This is practi-
cally all new and is more handsome
than the structure that preceded it.
While the erection of its new build
ing has been under way the business
of the German savings bank has been
conducted in large temporary wooden
building that occupies the site of the
old structure of.th San Francisco saw
ings union. The wooden building will
be destroyed soon, probably when the
bank is ready to move.
THREE BANKS BUILDING
Counting the German savings bank
building there are three important
bank structures in building progress
which is a somewhat striking indica-
tion of the confidence that moneyed
men have in this city.
The three buildings for banks that
are progressing are the German say
ings bank in California street. the San
Francisco savings union structure at
the northwest corner of O'FarreH
street and Grant avenue and the Union
trust company building at Market
street and Grant avenue. at the north
east corner of those leading thorough
fares The. structures of the Union
trust company and the San Francisco
savings union have been described The
appearance of the new Union trust
company building, as far as 1t has pro-
gressed, is even handsomer than carrier
descriptions suggested. The aggre-
gate investment of the three. banks
mentioned in building construction will
amount into the millions.
STREET STRONG IN BANKS
At present the German savings bank
is the most conspicuous financial in
stitution in California street west of
Montgomery. The site of the present
banking quarters of the San Fran
cisco savings union will be vacated as
soon at the building at the northwest
corner of Grant avenue and OfarreI
street is ready for occupancy. Some
months will elapse before the removal
takes place. CHANGING down Califor-
MIA street ii will be seen that that
street is very strong in banks. That
thoroughfare and Market street would
seem to be destined to be the banking
centers for long period.
Prior to 1906 there were three banks
in California street between Montgom-
cry and Kearny in the north side The
German savings bank, the San Fran
cisco savings union and the Frencn
saving; bank were immediate neigh
bors and adjacent except for the small
alley which ran east of the French
bank The last named Institution Sc
cured an eligible site in Sutter street
and erected fine building thereon OF
class A construction and many stories
In height.
ONE VACANCY IN STREET
While the leveling of the temporary
buildings in which the German saw
ings bank is now housed will leave
blank space that may be unoccupied
for a time, that will be practically the
only vacancy remaining in all the
length of California street from Battery
to Kearny in the north side OF Cali
fornia. A large part of the steel frame
of the Newhall building, otherwise
known is the White investment COM
pany building, is already on the place
and construction is proceeding rapidly.
This is a class A structure which Will
be 10 stories in height and one OF the
best business buildings in that portion
of San Francisco.
Nearly opposite the Merchants Ex-
change building another important
structure is partly built for the New
Zealand fire insurance company. This
is situated on the site that was occu-
pied by this insurance company for
many months after the fire of 1906. A
sufficient part of the exterior of the
New Zealand Insurance building has
been put In place to show that 1t will
compare we'll with other structures. in
that neighborhood
These building operations have re-
Gently given California street greater
appearance of activity than at any
time since the erection of the great