The San Francisco call., 1910-04-09
$352,599 AVERAGE
BUSINESS A DAY
Shrewd Observers Are Amazed
at Phenomenal Strides of
Golden Gate City
By DAVID H. WALKER


rate of more than s2.205,166 a week,
and a month makes a total showing of
slO.94L595. This is such a healthy
condition for a period less than four
years since san Francisco was in large
part burned that it fifty demonstrates
this city's tremendous prosperity. The
details of the average daily invest
ments relating to realty are summed
mp about like this:
Building contracts per dsy..............S 7e,5I3
Loans per day OBSERVATION-DISCLOSURES. l6s,o26
HALF MILLION 4 WEEK
tn actual building the sums involved
In contracts awarded amount TO more
than 100000 4 week. Considering the
miscellaneous character of the struc-
lures that are erected and their aver
age cost il viii be seen that this sum
is sufficient TO iii up quite a number
OF gaps IN street building lines each
week Indeed. the realization of this
fact along Market street, the citys
principal thoroughfare, where the real
~ is all Of high cost, running at the
rate Of thousands of dollars a front
foot. constitutes a phenomenon at
which all classes of intelligent OBJ
servers stand amazed. Derricks, pile
drivers and their kin are filling in the
gaps in lower Market street. Struc-
lures are rising in the gaps west OF
Fifth street, and by the end Of the year
Market street viii be practically solid
- constructed out as far as Ninth
street. with 50 few gaps along the
whole line from East street that they
viii be hardly noticeable.
LOAN MARKET ACTIVE
With the exception Of three months
the month just closed. so Thomas Ma
gee & Sons report, was marked by a
greater activity in loans on real estate
than any other month since the fire Of
1905. An analysis Of the loans made in
March shows that out of total of S13,
the local banks made ass and two were
made by financial institutions outside
Of san Francisco. The private money
lenders placed 323 loans that amounted
n total to S1,S15,l0L Five hundred
and ninety-two releases of mortgages
and reconveyance Of deeds of trust
We're recorded
Some recent loans are of general in
terest Among the larger ones are the
following:
A loan OF 100000 made by the trus-
tees Of the Cogswell polytechnic col
lege for 10 years at 61R per cent on
the Foxcroft building in Post street,
east Of Kearny. this. together with
100000 loaned during February by the
Cogswell trustees, making $500, 00O they
have loaned at 6is per cent gross. It is
believed that after taxes are paid by
the lender in the above cases. the net
rate obtained on these loans will be
between 4 and 3 per cent net.
The Cogsweu trustees also loaned
$4,000 on the southwest corner of
Bush and Kearny streets, and 100000
ca the southwest corner of California
and Drumm streets. These last two
loans We're made at per cent gross,
which would be a net rate Of to y
per cent. This makes a total of s940,-
900 loaned by the Cogswen trustees
during the last 90 days.
The Hibernia bank loaned S2S4,0O0 on
the Grant building, corner of Market
and seventh streets; the Union trust
company loaned S150,000 on Main
street property. between Market and
Mission streets; the German bank
loaned $4,000 to II. and W. Pierce,
Inc. on four scattered parcels; the
san Francisco savings union loaned
s13O.OOO on the south side of Market
street east of Second; the San Fran
cisco savings union also loaned S120.000
10 John Hemphiu on three scattered
rsrcels. and the Hibernia bank loaned
$4,000 TO the Berkshire apartment
company on Jones street property be-
tween Post and Sutter.
RELEASES OF MORTGAGES
The following releases have been re-
corded: BY the san Francisco savings
union on the Foxcroft building in Post
street between Kearny and Montgom-
erv. for 10000; by the German bank
70 Edwin T and Grace Osborn on va
rious parcels. for s325,000; by the Ger
man bank Of H G. ". Pierce, Inc, for
sIsO.OOO: by the Hibernia bank to J. B.
Iankershim. for SlS6,75O, at the corner
Of Fifth and Jessie streets Interest
rates continue at 5k per cent net at
nearly all local savings banks Money
IS 2 abundant for small loans and is also
in good supply for large loans.
The growing confidence in realty
values is shown by the inability of the
shoppers" in the market. those who
are in search OF great bargains in lots
and. residences in the well built up por
tions OF the city. to fnd things TO their
liking. The banks have very few res
fdential properties taken in for mort
cage loans Inquiry at one of the
large savings banks OF the city in the
last week elected the reply that the
institution had not one such piece of
property.
lust when the market will resume its
old sweep Of activity. IT would be diff
culf 10 predict Some of the wise
brokers set the time some months
ahead Each day brings the period
nearer and each day also lessons the
time between the two great causes
that may be relied upon TO give realty
boona. the opening Of the Panama
canal and the opening of the exposi-
ton in this city.
HARBOR IMPROVEMENTS
The campaign TO have the harbor Of
San Francisco provided with sufficient
facilities to take care of the great COM
rnerce that will result from the opening
81 the canal is rapidly taking shape.
The initial move is 10 have the pro-
rosed se.0OO,0OO bond issue for harbor
fmprovement meet with the approval
Of the voters Of the state in November.
Back Of this move are the Merchants
. association and other commercial
bodies of San Francisco. The steps
being taken 10 bring the great exposi-
ton to celebrate the canals compile
tion to San Francisco are progressing,
and the measure of cooperation IN
favor Of San Francisco in this regard
is widening.
In the meantime the interest in the