The San Francisco call., 1910-11-19
PRICES PAID NOT HIGH

Land Ealues were never high in San Fran
CISCO Ten thousand dollars a front foot. or
500 a square foot. in a street which enjoys
practical monopoly Of travel and trade is not
high No city ever experienced a more reason
r5 I 1.Iu IleallAE CROWN II mas neen consiste9t
snd continuous since the "forties-" The records
Of sales since 1867 will show that Market
street values have never dropped. except in a
lew sales made after the fire. Tile unusual con-
diflons then existing naturally made it diff
cult 10 raise money, aud few owners sacrificed
Stine ~ their lots 10 raise money TO improve
their other holdings. Aside from these. the rec
orc shows consistent and continuous advance
Inc IRE gave San Francisco great city house
clfaninE All the old. undesirable buildings
We're swept away: four and n half square miles
or Improvements" consisting Of old wooden and
brick two story shacks and 10 and 10 story class
= a structures. were purified by fire. At present
san Francisco enjoys the unique reputation of be
,ng TX . me only hrand new CITY on earth From the
fhulaee polnt OF new and hetter and more per
manent buildings. with rents as high as those
that prevailed before the disaster. the majority
2 blessing in disguise. A New York banker Wis
ting here recently. said: Your loss may he
SccsoouuVuopl but the advertising is worth $500
100000 to San Francisco The eyes of the world
turned toward San Francisco; its location. its
back country and lis prospects were reviewed:
and that Of itself was great aid toward giving
permanence and solidity TO values
IN forming an estimate of values. sales tell an
/ exact story; but they DO not tell full story of
the rise and fall Of city that may have ex-
perienced a setback. For the first month sales
only thought in the mind Of the property owner
was; How can most eXpeditiously and most
tfDltfnlfalN regain my lost 1ncOnPe lie W0ul0
not sacrifice his lot Partly from patriotism and
civic pride. partly from the memory. Of other
daES. when his building q good and consist
ent income producer his one desire TO erect
r better building than the old The old
tenants were ready 10 pay the old rents IL the
owner would rebuild in better fashion. Material
was high labor was high land one-thlrd less
efhclenti. but owners and tenants alike
determined upon better structures. The courag-
cons confidence Of the downtown owners and ten
ants upheld values and impaired TO them frmness
ana soundness There alternative. The
people were bound by their investments, and
every body plunged into the work with 4 will.
Other cities less fayorably situated might have
felt such blow more keenly: but San Francisco
had great deal in her favor and her recovery
was very rapid.
oVERBUILDING PREVENTED
The money needed for rebuilding was readily
obtained. The rate of interest was not high.
although, before 2 quarter Of the burned dis
trict was restored the stringency of 1907 arrived.
This Stringency. however was a blessing for
tight money prevented overbuilding. The FIRE in
suraDce companies and the local banks and cap
companies. provided more than S175.Oo0, 600 for
Investment in permanent improvements.
The business Of the port good and the
fire stimulated it I'D to the time of the con-
hagratioa sos. GOO coo had been expended for
seawalls and docks Since the fire about
s5.O00,0C0 has been expended for further exten-
sions. repairs and Improvements. bond issue
for $4,000. 600 for permanent harbor improve
ments will be submitted TO the approval Of the
people this fall. All the new piers have been
rebuilt and at the solldity which marks its
construction Those. however. who study the
situation cease TO marvel Even a cursory ex-
population. bank clearings. real estate sales
savings banks deposits and building operations
for the last 15 years Indicates that such a
population doing such q business required the