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The San Francisco call. [volume] (San Francisco [Calif.]) 1895-1913, July 16, 1910, Image 9

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REAL ESTATE AND FINANCIAL SECTION
The San Francisco Call
GOLDEN GATE PARK LAKE MERCED
WHICH WILL BE EXPOSITION SITE ?
PROMINENT BUSINESS MEN DIFFER
AS TO PROPER LOCATION
Good Arguments Advanced in Favor of Both Golden
Gate Park and Lake Merced Region as
Location for Fair
No enc now doubts that San Fran
cisco win hold the Panama exposition
in 1915, in vi^w of the splendid cam
paign row lining made for it.
This has aroused Interest and specu
lation over the probable cite for the
; fair grounds. While tlirer or four fit»s
were mentioned a few months ago, the
popular discussion has Pimmered down
to txro places — Golden date park and
.the l^*ke Mrrc^d region. Following are
tbe opinions held and the arguments
put forth by leading real estate and
business men:
"The consensus of opinion on this
?uhj>ct," said Thomas Mr gee, •'seems
to be En favor of the L.ako M'-n-ed
- location. The people of the Mission
favor that Bite, and as they constitute
probably half of our population tlieir
wishes are entitled to consideration.
"Another important point is that
• J^ld^n Gate park is under the city
administration, and \vt> don't know
what complications might arise be
tween the exposition management and
: "city ordinances a"hd heads of depart
ments, and r.obody knows who •will be
in control of tr.e city government four
or five, years hence.
"The exposition must be managed on
'business principles, and the men who
are put fn authority by the stock hold
ers and direr-tors must he unhampered,
for they will be held responsible for
the success of the fair.
ADVA.VTAGKS OF LAKK MKRfED
•Besides tii^se considerations, the \u25a0
I^ake Merced district has all the natural
\u25a0 advantages for such an exposition as!
wre conn mplate. There we have a
water area of 245 acres — a grand P<»t
t;r^r for groining buildings about and
affording a splendid opportunity for!
syuatU- rports. Venetian effects can j
easily be produced and these are very
lK»ptilaj\ in this Latitude, with' our
KUinmer In (winter climate. \re ought;
'•• make the most of such attractions.!
TJie. e.\i")«:tioji will he \u25a0 mammoth af- j
',;:;\u25a0• u,n«l it mast have suitable space;
" a !•"! settings. i
"At Lake Merced there is a barrier!
of bills protecting that region from^
the severe currents of ;i'r from the i
\u25a0 ocean that strike <»olden Gate'
park. The mountain and hill back
ground? on all sides give a scenic
pffeel that would be hard to duplicate
;/: anywhere. Fortunately this ideal sit-,
nation Ups right at our doors, and It]
***-itif to me as if it would 1>« a great I
misrak* not to take advantage of It if J
fhf Spring Valley water company would
allow this <=ito to l»e used. * ?
"J have heard Golden Gate park \u25a0
favored because certain buildings like!
museums mJght he made permanent
and remain as enduring monuments to
'hf city, if such permanent hnildings I
.xre erected the Spring Valley water t
'^.rnpsny might donate the land to The
.<!ty on which they -will stand, because!
• they would enhance the value of tlie '
surrounding land to such a great ex
lent."'
PAfIK MTi: F.IVORKD
A member of the firm of L,yo*n &]
Hoag, In favoring Golden Gate park, |
makes this statement: "Other things \
being equal, the fair ought to be sol
.'orated «s to accelerate the natural de- •
velopment of the, city. If placed in
Goirien Gate park Jt would result in j
improving all of the Richmond and i
.. Sunset districts.
"Golden Gate park seems to be an j
-eminently .suitable place for the fair.;
Seven to eight hundred acres are avail- j
.\u25a0able for Bucfa purpose from about the t
region of Stow lake and Strawberry'
-, hili westward to, the ocean. There are
:'.: '. lakes and hills, open spaces and woods,
driveways and walks which could
• doubtless be made to fit into a good
general layout for buildings, formal
gardens and esplanades. •
"In the immediate vicinity is the I
\u25a0 .handstand, the stadium, the zoological
• gardens *tnd the conservatories, u\\ of!
.which would combine splendidly to add i
"to the interest of the fair. The mil
lions of dollars already sr -r.t in beau
tifying Gold'-n Gate parlc would thus
nugment whatever amount tl^e ejeposj
. t:<.n management has to spend. The
flcral beauties of the park, which it j
has taken 25 years and more to de
velop, can not br- developed anywhere
-else in the short space of four years
which remain between now and the i
opening of the *>: position. * " J
"It will be much better to have the
---^i position compact and easily accessi
"*"vi>ft |n an afternoon visit, as would be
Jl»e rase if put in Golden Gate park.
Tf located elsewhere it might spread
over two or three times the space, but
be I«sf effective for that very reason
and much harder for visitors to see
and enjoy ss they would like to. '
"If placed in the park several of the
principal buildings, such as the aqua
rium, the art ami natural history mv
" seanu and historical and scientific
buildings, could doubtless be built sub
stantially enough to remafn as perma
nent institutions after the fair is over.
"All the landscape . . work, such as
sunken gardens, fountains and monu
ments, would also remain as permanent
improvements. All of these things
should be taken into consideration in
the case of an enterprise which the
whole population of the city are con
" tributing to and working for.
"There ar*> many other reason* in
•. favor of the park site. It is so acces
sible that a large percentage of The
people of the city would naturally visit
"the fair regularly throughout the sca
*C« if it were right at their doors.
PAKK CAR M2IIVICI2
"All the car lines of the city already
focus at the park, and so the transpor
tation problem would be practically
settled at the outset. The fair would
have the effect of improving (he car
service of the entire city in order to
?n*et the demands of the fair. This
in itself would be an immense advan
tage.
"The Seattle exposition paid because
it was compact and easily seen and ac
cessible. The Jangcr of an exposition
is for it to become unwieldy in size,
»nd consequently too expensive.
"The general experience of exposi
tions is that SO per cent of the : gate
receipts come from the immediate vi
cinity. Golden Gate park would be ad
jacent to all the most thickly settled
parts of the city. The Mission as well
as the Sunset, Richmond and Western
addition would be in close communica
! tion with it. Besides the three, car
lines now reaching from the: Mission
to the park another would probably be
built through Scott anJ Page streets
via Noe to the Mission, and the Ocean
Shore road would probably be extend
ed to the park. These are only a few
of the substantial and permanent im
provements that -would come 'from lo
cating the exposition in Golden Gate
park."
LAKG FOIt AQUATIC FEATURES
Herman Shainwald takes an entirely
different view of the matter. "The
Lake Merce.l region," lie says, "is pre
: eminently the one for the exposition.
There is plenty of land there, with a
great natural lake as a central feature
to group the buildlings around. An
abunJant water s*upply would be as
sured for all purposes which is a very
Important matter. It is a beautiful re
gion also — and it would be easy to run
railroad trains direct to the grounds.
The Southern Pacific already has a line
near there, and others could be a.lded.
Streetcar, lines could easily be extendej
there. But streetcar service alone
would be utterly inadequate •to take
care of the big exposition crowds. This
fact alone would make the park site
out of the question. \u25a0
"Golden Gate park should be an ad
junct to the 'fair — an added attraction
to visitors. We shall have hundreds of
thousands of people from all parts of
the world, who will come hero to stay
for weeks and months. We want to
give them something to see all the
time. '
"The location of the fair at L.ake
Merced would tend to', bring about the
building of the Twin p»aks tunnel,
which would be an immense improve
ment that would benefit "the whole
city."
PBRMA.VEXT RESISTS
Oscar Heynian is an advocate of
Golden Gate park for the fair site.
He says:
"I favor the park because the amount
of money that will be spent,. $10,000,000
or more, ought t"' be expended in a
way to give the most permanent re
sults.
"Tho park itself. I think, would be
improved rather than injured by locat
ing- the exposition there. Some of the
trees would have to be cut down, but
we need more open spaces for vistas.
Jt is too densely wooded' now.
"If there Is not space enough In
GoMen, Gate park, part of. the. expo
sition could be" placed in the new
Lincoln park, hitherto the city ceme
tery. One or two connecting streets,
like Thirty-fourth avenue, could be
parked and form a midway plalsance.
along which all the side shows "could be
ranged. This would bring the whole
fair right into the city and insure the
largest attendance.- >
"It would encourage property owners
about the park to build large and sub
stantial hotels of brick and stone and
ornamental concrete, that would be an
immense benefit in the future. In New
York the finest hotels are- ranged
around Central park. There is where
all the tourists go. They get the best
impression of. the city from such a
viewpoint.
'•Visitors from the east who come to
the fair would stay here much longer
if they could get such accommodations
here, with beautiful surroundings and
near the exposition grounds. .If the
fair is held at Lake Merced there will
be a lot of temporary hotejs built
around there that will be unsightly and
uncomfortable. . .
"The Golden Gate park site would
be an encouragement for the beginning
right now of building operations on a
larger and more substantial scale.; I
concede that I>ake. Merced has many
attractions, but I think that the rea-
Bons in favor of Golden Gate park far
outweigh those, that can be urged in
favor" of any other- location."
I-AKE MTE . BKST, HE SAYS
Henry Dernham, president and man
ae»r of the Emporium." expressed the
following views on the subject:
"ft seems to me the Lake Merced
region is the best location for the ex
position. To put it in Golden Gate
park would be . to tear up the woods
and change the whole appearance of
the park. It is the most beautiful park
iri America, and nothing should be don*?
to mar it In any way.
"Lake Merced, on the. other hand, is
In a situation naturally adapted for an
exposition of this size. There are no
buildings or improvements in the. way
of carrying out any landscape scheme
that the exposition architects might
choose to- lay out. When it Is over,
no unsightly debris would, he left in- a
public park. Lake- Merced .is near
enough to the city and easily accessible
to all transportation lines, both .steam
and trolley. This location would nat
urally help to bring about the build
ing of the Twin peaks tunnel, .in im
provement that would.be of the great
est benefit to the .downtown business
district, and a help to the whole' city.
Altogether. I think. Lake Merc»-d is by
far the best location that has' been
proposed." /
PARK IS "LOGICAL SITE"
Felix Marcuse, the architect and
builder, believes that Golden Gate park
is the best location. lie says: .
"The park is the logical site for the
exposition. All drives and transporta-.
tion lines lead there and there isplenty
of room in the park for such a purpose
that is now put to very; little use. It
would give a bad impression -to "visitors
to take them away, out to Lake Merced
through such a stretch of unoccupied
land as exists between there- and the
built up districts. Golden, Gate park Ms
n grand situation for the. fair. It would
make, the Tair a much greater money
earner than would; be possible ; in,; any
more distant place. ; The -permanent
benefits to the 'city • from^ having the
exposition In the park would beincal
cuJable."
SHE.- MSi ERANCISCO /GALIi, -SMWRI)^, ;1910:
BIG DEVELOPMENT
WORK AT WILLOWS
New Administration Building Is Erected For
.Sacramento Valley Gompany.
A handsome and commodious admin
istration building 1 recently has been
completed at Willows for the Sacra
mento Valley irrigation "company," the
corporation which is repeating in Cali
fornia the great development work that
was so successfully organized and com
plete^ by the same administration in
Twin falls country, southern Idaho. \u25a0
The suggestion of capable organiza
tion and permanence given by the out-,
side of the structure ;is intensified on
entering the spacious hall,, with its
complete telephone exchange communi-/
eating 'with all departments,, the adja
cent land office and, the outside world."
Immediately on- tli'e left is the office of
Fentrlss Hill, the,, vice, president, and
general manager of . the Sacramento
Valley irrigation company. Connected
\u25a0with Hill's office, is a comfortable office
for hisrassistants. *"\ ' "
Continuing on;the, left isthe agricul
tural department, under the direction of
W; S. Guilford, whose experience and
advice' can -be utilized .for. ' the mere
asking by - intending arid, actuall set
tlers. Turning to the right the desks,
cabinets and ledgers . of *the paymaster
and auditor's office meet the eye on the
opposite "side of- the corridor. In v a
huge project of this description, where
an army of. men are constantly at work,
developing and improving;, the 'routine
clerical work is necessarily . heavy and
of vital importance; The) orderly . ar
liingeinent,- up. to date equipment Jtnd
busy staff give ample evidenee'of.com
plete organJzalioh in this department.;'
dmmislrat'wn building of the Sacramento Valley: irrigation .company at \
\u25a0 - . \ - , *\* 'Willow*: v. v -j. -;.*'_ -^'\_ '-j
tOOW% Removal Notice
/\u25a0> Th® M au * V" lee °*
The Mission Sayings Bank
". Is . now open for : " business %f in -its
- New*. Building Jat Valencia and 16th Sts'.N
Your inspection }is; cordially^ invited.
TL f\CE. ~>C-1 l »*\u25a0' - \u25a0 o' ; '' - "-»> i' i -ii i- ' - ; 1 ' * *r« i/ '
l ne vJnice at Zo jI ' Miss.on ' •btreet, . near 22d, t will •be ' retained ; as i a.a '. Branch ?\u25a0 for. 1 .
Stretching right across' the rear of
the building, is; situated *tlm. spacious
general office, where the click of type
writing machines and busy hum of
clerks and callers | give, eloquent Testi
mony to Ihe fact that already the
farmer and land seeker are eagerly.se
lecting and; purchasing their tracts.. \u25a0
Leaving the main floor with k its sub
dued'hum of business-life.;and-ascend
ing the wide stairway, one ; strikes
quieter region. Every one Interestedin
land development and • Irrigation; in a,
vast and. enlightened ; manner. .should
not fail to visit the engineer's ornce ; qn
this floor and'securea quiet chat'with
D. W. Ross, 'the engineer in chief of
\u25a0this irrigation scheme and plant.. ; The
result will be interesting and instruct
ive. "If to" grow two -ears of. 'wheat
where one grew: before I was.; man's'
greatest gift , to", men, then to grow,
three, four, and fiye : crops where one
grew before is a still 'greater JgiftVand
a mighty; step forward' in the march of
progrress. ;From'. this ;'qulet office _ tli#
greater gift and the march of, progress
;have. been accomplished.' A visit to the
"Kulin project" InVthe. heart of th«
beautiful/ Sacramento valley 'demon
strates" its actuality. \ •' '"\u25a0', -"'\u25a0"..•'"
VISITOR FALLS AMONG THIEVES— n. -B:
V \u25a0 \V«x)dard 'arrlTfd: froni' Tx>s Angeles l Thursday
•iiljrhr. and the Barbary roast : resort*.
When he rcaohed the Stanford hotel early jes
• ' tTday :mornlng -he. found that ,;S]ls. , «.' gold,
v nugget rallied at - $12, . a Santa : Fe fecrip : book
\u25a0»', vuiurd •at $I.l". mid ;a;palr.rof ejcglassesibad
. "vbeen stolen: from .his, pockets.,, \u0084 \u0084 " "",,
BANKS OF THE CITY ACHIEVE BIG
GAIN IN THEIR RESOURCES
Increase^ During Three Months: Brings Total To
$237,165,980.87; Showing Clear Advance
HIGH PRICED LOTS
SOLD NEAR PRESIDIO
Several * important and interesting
sales have been effected by Baldwin &
Howcll during the last week in Pre
sidio terrace. Ix>t .S2 was sold.; to M.
Flsber, who. has resold " the same to
Henry Meyer, with a residence' to be
constructed by. Fisher on; plans" pre
pared'by; Charles F. Whittlesey, for
$25,000. '."Fisher" has also purchased lot
35 for/ SIO,OOO/ and planß.fpr an artistic
residence to be constructed on the lot
have- been completed and work will be
commenced within the next few days.
Several clients of Baldwin &-,ilowell,
whose names 'are.w ithheld for the pres
ent, "have purchased lots 36 and:37 for
$22,000, ;,and a. residence will, be qon
strugted on each lot in the immediate
future.' 'The; classic" residence" of Jo
seph Fredericks.on^ lots' 33 ahdi34" has
just;beencompleted,at a cost of about
$40,000. ,The^ building, is! of, reinforced
copcrete 'and 7 is." the- only residence, of
that character thus far constructed in
San '• Francisco.';- i'-?It \vas designed by
Mac Donald & 'Applegarth. i . \u25a0\u25a0'
* The T residence ,of • Harris ' Weinstock
on lot 19, constructed . by M. Fisher, has
been | completed ..and will be. occupied
"Sacramento Valley Irrigation Co."
-'\u25a0' . . ..' ; ; .'• ' . jjMMWmjOyllk • 'jf
\u25a0• . S' 9B . —~J.:S. and \V. .S. A'£7//A' — are doing the «B
v gated Valley land, which £ D. L. BOLLISTER k CO. f mm.
/it/>r satiny zo a| S&lss Ap&T*is \u25a0 Sljß
$IZo PER .ACRE Bldg., San Francisco
. - ;-' ($l5 down, balance over 10 '^^jj^^ltw • ~
PAUL SINSHEIMER
Encouraging to an unexpected de
grree is the statement of the San Fran
cisco banks. of June 30. Compilations
made in the office of!. the. state super
intendents of banks show a notable
gain in resources. The increase, in de
posits has been more than satisfactory.'
The tabulation reflects the preparations
for the fall crop moverrient;in the aug
mented leash items. I
The state banks of the city, have in
creased their resources during- the last
three ' months from $232,048,734.05 to
$237,165,980.87, a clear gain of $5,117,
244.82. The cash items have been ad
vanced approximately $3,500,000 in the
same time. > The. total holdings of the
banks of the city, state and national,
reach $432,345,151.5J». The combined de
posits run up to $266,622,716. i 2. -
The figures for the whole state will
be available in a few days, but assur
ances may be given at this time that
the gains elsewhere will' be in propor
tion to those within the city. .. '
BAN K STATEMENTS
The statement of the local state and
national banks follows: .'\u25a0"!.
\u25a0 RESOUnCES— * j Stat». National. rotnbln*d.
Loans and discounts $133.H31,257.14 ?D7,65t.05"».»» $231,0«2.53T.91
Overdrafti 296.349.35 140.547.50 *37.1D«.<«
Bonds and other *o«-nritl«s 6t.301.386.93 G3.5W«.30rt..Vi W.W»7.<W3.31
B»nk prpml?ep. furniture and fixtures, etc...... 12.252.503.52 4,243.324.77 1<!.523,Pt*.3t*
Other real estate owned 1.48T^00.«7 .. 32.058.0rt 1.540.9W.07
Due from bants .. : 1«:.130,M3.5»i 50.552.W7. 11 47.113.ft%1.0»
Spprfe - 7.017.259.72 1t.141.M5.55. 21.15t>,123.27
Oth»r- lawful money ...:..:..' 2.1W,16?i.7« 6««^71.55 2.732.740.ni
Fx<*lianKO!> for clPnrJns house • 764.410.77 5.P32.390.00 4.6»«.V)0.77
Check* and ra«h ltemfi ........; .«.. 1.087.922.12 244.451.60 1.332.373.72
itod^ißption funds with U. S. treasnrer fl7«.20O.0« 97«$.2rti>.<>o
Other assets :...... 759,736.1(5 7.144.137.37 7.933.593.78
Total ..................................... $2C7.165,5?0.57 •? 1 05,152,17 1.02 $452..it4i,T5l Wl
' T.IABILITtES— . . ." '
Capltnl stock $17,968.4*2.** $2S,73O.<VK\OQ J11.715.«82.Ri
Surplus ..-. 12,<M0,2i52.44 l«.K8O.00O.0O 2?».W0.2f12.44
U»diTl<led pr«vflts I.MS.SSS.Ot 8.519,9<W1.t5 10,075,23*?. 49
National bank notes outstanding 19,.t14,772Ji(> 13..*5t4.7T2.50
Bill* payabl*... -r 1J171.5AT..P5 1.271.303J>5
Pus to bankP 4.W1.201.45 43.rt3f1,03J>.r>7 80.357.2«1.«VJ
lD«"iTl.lnal dcpiMitw 193.853,81 I.BS 72.7f5».40*.49 2afi,622.71«M2
U. P.. state, countj- ami municipal depoolts 1.9«0.2?;.2S 725,005.7S 2.6V..73*.0t
Trust llal>lllt<o» 1.565.619.fW> . 1.860.«19.W»
Other ''liabilities 1,719.996.20 7.56g.520.23 9.25H.3W.43
- Totaf . : . . . . .... :'.'..:.". >t95,152.171.03 \u25a0 >432.&4^13UW>
- Asidri from-, the- financial: summary
there was little to stimulate trading.
Quotations" generally were at the. lower
levels. The grain markets were an
exception to the~ prevailing conditions,
prices advancing sharply. Estimates
place the barley yield as the heaviest
in the. history of the state. Reports'of
darnase'in the middle west and \u25a0 north
west have sent price? upward at- a time
when the grain still remains in the
hands of the farmer.
,- The railway situation has assumed
additional interest in California with
the. appearance of; the Western Pacific
r as a competitor for traffic. It has is
sued no statement, of earnings, but its
returnsto the present have been negli
gible., .What bond interest must be
met will necessarily come from the
treasury of- the Denver. and Rio Grande.
•The Western. Pacific was put to heavy
expense" through washouts at the time
of the, opening, of the line. The Impor
tant fact,' however, is that the company
appears to be actively competing fo?
business. Its competition, as anticipa
ted. Is' confined rather to service than
to rates.
Despite all predictions to the con*
•trarj- and In the face of the pessimistio
declarations of President Ripley, the
Santa Fe has found its net earnings
sufficient to continue the payment of
the. 6 per.cent dividend. At the recent
meeting in New York the quarterly dis
tribution of 1% per cent was an-,
nounced. Moi'eover. the recent esti-«
mates of the fall business have given
the Atqhison stock holders a briyhte*
prospect. .\u25a0!\u25a0'; \u25a0•.-'
LOCAL TRADING .V.WROW
Trading on the local exchanges hajj
been narrowr and restricted. There has
been a better demand for the. higher
priced bonds and the week has seen
some sales of choice fives, including;
Telephone. Market street railway. Cali
fornia seas and electric. Central gas and
electric and Pacific gas and electric.
There has been some speculation, ia
wine rights, and at the close last even
in? $1 was bid for any part of 10.000
by Sutro & Co. Thes<s rights are based
upon th© recently authorized issue of
$1,500,000 of 6 per cent cumulative pre-.
ferred stock. The owners ot common
were given the first privilege of sub
scribing: at the rate of 30 shares of pre
ferred at $56.6S 1-3 for every 100 shares
ot common they held. The rights were
selling above $1. but fall to 75 cents,
and early in the week had dropped as
low as 20 cents. There was a sharp
however, ami yesterday. th<»
closing day for . the subscriptions, tho
bidding ran up to $1. »Sutro & Co. have
formed a syndicate. to take over all tho
new -issue of preferred stock not sub
scribed. It is understood that the syn
dicate will get less .than- one-third the
issue.
Thislssu© was determined upon. In
stead of an assessment, to tak^ care of
'the- needs of the TVine association. The
decline in the stock had been dlscount
.ed to some extent. It was offered yes*
terday at $2S.
9

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