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REAL ESTATE AND FINANCIAL SECTION SOUTH OF MARKET BUILDING UP RAPIDLY FOURTH STREET IS LOOMING UP LARGE Tall Steel Frame Hotels Cluster ing on Corners of Mission and How ard Farther Down Big Factories Are Rising and Prospects Good for ! Dense Population < That the old South of Market Dis- j trict is to again become a hive of in- I dustry and will be rebuilt in a far • hotter way than in the days before the ' fire is now perfectly apparent. The Fourth street section from Mis sion to Harrison streets, which was formerly given over to cheap hotels, j poor tenements and email squalid i homes, is now developing into a district J of costly factories and tall steel frame • els. The most notable activity just now | is on three corners of Mission street. On the southeast corner, Annie M. Faxon is erecting a six story class C hotel. The building: has a frontage of SO feet in Mission and extends 170 feet on Fourth street to Minna, with a long L on the latter street. Miller & Colroesnil are the architects. The hotel building on the northeast • orner of Mission and Fourth streets is being built by the Vonrman company. It will be a six story structure, SO by SO feet. On the northwest corner of Mis sion and Fourth streets a two story building is nearing completion, con taining stores and rooms above. On the west Bf4e of Fourth street, from Minna to 'Howard, three large hotels 'vivo been built in about a year's lime. The main cause of the extensive ( >tel construction i? the growth of industries in th<» South of Market dle-J trict and the demand for aeeommoda- j tions for working men. Fourth street | is in easy walking distance of all the j big factories and warehouses along Third. Second and First streets and I Ihe wholesale district extending down ;.i the water front. T!ia immediate neighborhood of -th street Is also becoming a fat-; t< . About a, year ago the j . oeet Press in Fourth street, between I r rry and Bryant, took up their j • iuarters in a large building in Mis sion style, erected by the Sharon j estate. This company now employs' ard of 400 peopi"-. A four story concrete factory is now l-eing erected by Shrcve & Co. under 'he direction ot Nathaniel Blatsdet, architect, on the southwest corner of Bryant street and Zoe, midway be tween Third and Fourth. The ex tprior of the building will be of Klazed brick, with a very large wtn .low space. It will be fireproof and the interior will be finished like an office building. It will be equipped with ! heating and ventilating systems and the best sanitary appliances. Shreve & Co. are spending $1"»0,000 on this structure, with the idea of j making it a model of its kind and to set a high standard in factory con struction in this district. About 500 men will be employed in the num erous departments, which include gold , and silver smithing, diamond setting leather work and the making of all j kinds of dies. In anticipation of lower Fourth street ! becoming a supply center for automo- j liile trucks and supplies, William Gis*l man recently completed a large garage • extending along Fourth street HiO feet ; from Harrison to the side street on the south. On Harrison street just west of trtb, the Lincoln school has been : -onstrttcted to meet the needs of the j reasing number of children in this I • listrict. All of these thing-s tend to indicate that this section of the city \» destined to have a flense poptilai s»nd be of great commercial importance! in the near future. INSURANCE COMPANY LEASES NEW QUARTERS Wolf &- llollman report having a lease with the Norwich Union Fire Insurance company for the second floor of A. B. McGreerys' building, in course of construction on the norther ly line of Pine street, west of Sansome. and adjoining the Royal Insurance building. The lease is for a period of Bye years at a total rental of $15,000. The same firm announced the follow ing leases: For lh<» account of Jacob Stern they haare ■ tIM Pacific Guano and Fertilizer LJM l'»n.v half of the eighth floor <-f the Berorttjr buil<!injr. :",43 BBMOBM BtnCt, fee h pt-riod of tiv< jvar*. Tor tlif account of the Savings fnion Bank •inpany to W. T. Smith sn.l V. W. Sloan they have leased the corner store prem lues l<u; F.I lis strict, corner of Mason, for five yeeri hi a total wnral of $12,000. }-■■ tforrii V"\ tljcy have leaned to U F. Ma ranJey a one-»tory class A theater building to li. crec-tpri on I street. Sun*et. near Tenth eve nt]*-, for 10 year* nt a total rental of $24.(x<0. For the Croeswr Betatc company they hare ]'«>p(l the thin! floor of the Moore Watson build ins, on the MmtbWMt corner of Bush and San ■-■iMie street. The tenant's name is being with held for the present. Tlie lease is for a period ..f five years on private terras. For the account of Horace Davis to the H. A. Potter company they have Ipased tlie store and l.a-t-mcm ,V.» f,l First street for a period of five year* at a total rental of $1.".r.00. For the account of Grace Spencer Hall to Samuel H. Rishin they hare leased tbe store premise* 24.1 Sixtli street for a term of three .\t-ars at a total rental of $2,000. For Bertha l>npuy to P. Himmelfarb they hare leaned th« store 1136 fJrant avenue for a "period of D>e years at a total rental of $0.000. For William J. Gilleenip to A <". Hansen. upper portion of the building; 1047 Sutter street. Lease for three years at a total rental of $2,500. For the Atlns Investment company to H. Tohen. the More premise* «14 McAllister street. Lease for fi»r years at a total rental of $1,000. WOULD MAKE OOOD ROADS TO PENINSULA -■tary Churchill of the board of works has informed the supervisors of San Mateo county that there is a budget provision of $75,000 for the im provement of San Bruno roads, which will connect with one of the main roads <~>f San Mateo county. City Engineer O'Shaughnessy has been instructed to forward plans so that when the lower county builds up to the line, out of its million dollar bond issue for roads, there »*3ll be uniformity where the roads join* ~NEW HOTELS IN UPPER END OF FOURTH STREET AND MODEL FACTORIES IN BRYANT STREET AND VICINITY. SOON TO BEGIN ON ARTISTIC WORK Contracts Let for Entrances to St. Francis Wood and Park* ing and Streets The contract fur the magnificent j gateways that pivo entrance to St. Wood were let yesterday. IShixome & <*0.. who built the beautiful pumping station <>f the Spring Valley Water company in SlO*< boulevard, has secured the (ontract. Its agreement guarantees it will have a .sharpness of line and detail unsurpassed by cut stone. This contract Include* the two oval walled gardens that face Sloat boule vard, together with their pools and | fountains, stone benches and arches, j In it also are included the .pillared ! red tiled loggias where passengers j may wait for streetcars, in the near i future, for the fast electric trains through the Twin peaks bore and bring Third and Market streets within 20 minutes of St. Francis Wood. The urns and pots that are to make the garden walls brilliant with flowers will be let under a separate contract, as will the noble balustrades connect ing the gardens with Corbett road. Bronze letters for the panels over the loggia entrances and a bronze plate commemorative of St. Francis of Assissi. in whose honor San Francisco was named, are now being designed. When completed, the total cost of this entrance to St. Francis Wood will exceed $12,000. .John Galen Howard, who designed the famous Greek theater at Berkeley, is also working , upon plana for the circle and for the minor en trance of St. Francis Wood. In addition to the main gateway. All of these! architectural features will show the influence of Italy and southern Europe ar.l will be in keeping with the resi dences to be erected in San Francisco's new residence park. In addition to these entrances there will be in St. KranHs JVood other unifjup community features, such as trcllised summer gardens, arbors for rest and shade, tennis courts and a children's common. This latter is a unique feature and will prove one of great convenience as> well as beauty—a private play park for the little ones, with flower bordered paths and a great stretch of velvet lawn. The buildings and laying out of these places will commence immediately and St. Fran cis Wood will soon begin to take on form. The work upon the streets and boule vards and the conduits for electrio wires, gas and water mains will also begin at once. The streets will be of concrete foundation and asphaltic wearing surface, and the armored curbs and storm sewers will be laid. It will never be necessary to tear up these roadways once laid, for the con duits will be placed below the ground back of the property line, where they will be easily accessible without in terruption of traffic or the unsightly piles of soil and stones which usually mar the appearance of streets when this work is in progress. Protest has been made by the Upper Sunset club against the establishment of a Chinese laundry at 1735 Eighth avenue, between M and N streets. * I I™l I"* (0m&8 f All THE SAN FRANCISCO CALL, SATURDAY, NOVEMBER 9, 1912. MONEY PLENTIFUL FOR BUILDING i Improvements of All Classes Are Financed by Local Savings Banks In spite of the fart that it was a short week, owing to the election holi day, there was a considerable number of loans made on city real estate for improvement purposes. Following are some of the principal loans made by i the" sa villus banks: The Mnmboldt Savings task loaned $10,000 to H. !'. Btolteuberg te wreel fisits at the southeast corner of Hush street and Chelsea plaep. I<> eoai $.V.».c»K) and to contain 70 rooms and three stores ■ in the ground floor. The Snn Kranelfcn Disposal company executed a bond mortgage of $100,000 to the Anglo Califor nia Trnst company on property in the hay shore district for the purpose of erecting a reduction work*. The bonds draw I per cent intercut. The Bunk of Italy made a building loan of $4,500 to G. Ferrari to erect flats in the west wide of Montgomery street, 70 feet south of Green, on a lot 88x80. The Bank of Italy loaned $6,000 to I»uis Alt mark to ere'-t a store with rooms above in the west side of Qraßt avenue, 77 feet north of Pa citic street, on a lot 20x72. The I'aeifie States Saving and Loan company made a building io:in of $20,000 to ('htirles E. Relnhart to erect apartments at the northwest corner of Twent.v-flfth and Caftro streets, on a lot BOxSS. The licrman Saving? bank made a straight loan of $100,000 to the S,nmn]pns Kstate company on property In the northeast side of Sixth street, 122 feet northwest of Brannan. on a lot Rorl2o. The German HavJnss bank loaned $15,000 to Alire M. Hood and associates on the property in the south stde of Broadway, 137: C feet east of FUlmore street. The French-American bank made a building loan of $«,000 to J. Ixvulstale to erect two flat* in the west side of Ashnnry street, 102 south of Frederick, on a lot 25x100. The Ilinernta bank made a straight loan of $41,250 to George M Smyth on property in the south side i.f I'inc ittcet, G8 feet east'of San some, on a lot r;4xfie. The German Snrings bank leaned *n.nOO to Gnstav to build a brick hotel in the north side of Geary street. 110 feet west of Polk on a lot 27x120. MECHANICS' INSTITUTE PAYS OFF BIG MORTGAGE The director* of the Mechanic*' insti tute at their last meeting had an en grossed letter of thanks prepared and submitted to the German Savings bank, expressing: their appreciation of the aid rendered to the society soon after the fire. The institute at that time obtained a loan of $.125,000 from the German Savings bank to erect their present building in Post' street, at a timo when they were unable to get the money from any other source. When the city purchased the Mechanics' insti tute block in the civic center a month ago. the society was allowed to pay off the loan five months before the mortgage became due. SATISFACTORY STREET WORK ACCEPTED Street work performed by property owners at the following locations has been accepted by the board of public works: Crossing Of Arlington and Miguel streets; east erly half of Scot street between Lombard and Greenwich: portion of Forty-fourth avenue be tween Ania and Balboa xtreettr, southerly half of Anza street between Forty-third and Forty-fourth hvenues; portion nf Anza street between Forty second and Forty-third avenues; Brunswick street between Whittier ana Lwweli. IMPORTANT SALES OF CURRENT WEEK Manufacturing Company Buys Site for a Steel Plant in Townsend Street A notable transaction of this week was the purchaf-e of a site for a steel plant in Townsend street. The A. Xorris company purchased through Harripran-Weidenmuller's of fice the lote in the north side of Town send street, between Second and Third. 12S feet 10 7-8 inches by 275 feet, with an "L" 50 by 80 feet running through to Stanford, containing about 40.000 square feet, on which it will construct a factory and warehouse building suit able for Its purposes. The firm is a large manufacturer and wholesaler of reinforcing steel material for fireproof buildings. The property just purchased is to be connected by a spur track and will be the firm's main shipping depot on the Pacific coast. The price paid for the property is $1.50 per square foot, or about $60,000. The Zellerback Paper company, the sellers of this property, purchased the land about four months ago from William Pore. Kerner & *Eisert announce the bale of the property of Mrs. V. Ford to Thomas B. Lynch. Property southwest corner of Sacramento street and Pre sidio avenue. Improvements consist of four stores and four fiats. L.ot 75 by 82, at a price close to $40,000. STREET WORK ACCEPTED BY THE BOARD OF WORKS Street work has been completed to the satisfaction and acceptance of the board of public works at the following locations: San Bruno ereuiie between Burrows and Bacon streets; easterly half of the crossing of Thir teenth avenue and Balboa sttwt; Geary street between Seventh and Eighth avenues; Laedoa street between I'ranee and Russia avenue; Key Street between Oaut and Congdon streets: Jer sey street lxMween Dolores mul rimrch streets. NEW MODERN HOMES 87TH ATE* BETWEEN H ASD I STREETS LIKE PAYING RENT $600 CASH $40 PER MONTH SIX ROOMSand GARAGE Hardwood floors—elm panel dining- rooms —butler's pantry — Dutch fireplace — outdoor sleeping porches, etc. Take Ellis and O'Farrell (Beach) . Car to 37th Aye. Agent on Premises Daily. Sterling Realty Company 241 Monticemery St. FINE RESIDENCE NEARLY FINISHED Getz Mansion in West Clay Park Shows Trend of Improve= ments Westward The hanrlsome residence that is being built at the northeast corner of Lake street and Twenty-fourth avenue in West. Clay Park marks a striking; feature of San Francisco's growth westward. The phenomenon of yester day's sand dunes becoming today's most charming and highly developed resi MISSION DISTRICT CORNER Reduced to $7,200 from $9,000 —rents $74 a month—corner store and 3 flats—look into this investment in a thriving 22nd street neighborhood— mortgage of $4,500—a1l you need is $2,700 cash. (g66) PRICE $21,000 A fine lot, 50x100 feet, on north side of street—stores and flats with stable in rear—can ar range a liberal payment—Waller street. Rents $220. (9681) 6EARY STSEET CORNER - Stores and flats rented for $1,020 per annum—nearly 50x 100 —a fine northwest corner in side of 10th aye. (2472) POST STREET BARGAIN 50 feet with street bituminized, curbs, sidewalks, etc., only $5,500 —the cheapest piece offered in San Francisco. ' - *_ dence areas is in itself startling. But to many the immediate appearance of fine residences in this new dis trict is even more surprising, and yet explanation is simple. To begin ' with, this West. ri 3 y Park district commands an unobstructed view over the Presidio reservation and the outer bay. Thf general onvironment is scenic and suitable as a background and Betting for fine homes. Then, too, there is a present need for more land suitable for fine residences and prop eHy developed for that use. The present Pacific Heights and Pre sidio Heights districts can not grow north, east or south. They must grow westward and will inevitably extend over the slope immediate to the west, because it possesses all the require ments of such growth. Land here is eagerly sought for fine homes. Milton E. Getz was one of the early buyers in West Clay park. He secured a corner over 70 feot by 125 feet at the street and Twenty-fourth avtnue entrance j?atr>. it is here that J. E. Krafft & Son are construct ing for him one of the most expensive residences yet attempted in West Clay park. The house is designed in the modern French architecture. It is a pressed brick structure. BUY NOW AT PARKSIDE -The One Property West of Twin Peaks where improvements are complete. —Edge wood Park and; Parkside are t\ro years advanced in develop ment. —When the Tunnel is completed Parkside will be built up with high class, attractive homes, because all improve ments and services are ready NOW. —When the Tunnel is completed yon can ride from Third and Market I streets to Edgewood Park and Parkside in 20 minutes. —The best of the land West of Twin Peaks was selected for the ' great residence district, now Edgewood Park and Parkside, with a sunny Southern and Wester n slope un equaled for marine view and climate. —Prices are right in Parkside t< > insure a handsome profit and within the reacfi of all. We began with 1o w prices to encourage building. This object is accomplished. —We will shortly ad vance our prices to com pare with those in other tracts without our ad vantages and with much less development. WE INVITE COMPARISON Call t>9 write for price lint. PARKSID: REALTY COMPANY 408-9 CROCKER BLDG. Branch Offlcrn: 2O«b Aye. and I St. 82d Ate. and X >t. FINANCIERS AWAIT ACTION ON TARIFF Speculation Rile as to Whether New President Will Call Special Session United Railroads Seeks Permis sion to Issue Gold Notes for $2,350,000 RAYMOND S. HARRIS A prominent banker said yesterday that the matter of most interest to the financial and business world at pres ent was the spirit in which President Elect Wilson and the. democratic house would take up consideration of the tariff. It has been suggested that Wil son will call a special session of con frten soon after his Inauguration to make tariff changes. His decision on this point of policy will be th< declaration of the spirit animatin. new controlling , party of the nation. The day after election a newspaper reporter asked Wilson if lie. would call a special session of eongTess li interests of tariff changes, and to t,hta Wilson answered: "I am not set on a hair trigger." This would seem to that the executive had not yet made up Ms" mind on the subject and that Ive wished to give it due consideration There are many anxious for a -■, session as soon as possible, so that \>,r tariff verdict of the democrats may be pronounced and business take its course, with the relief of knowing un der what tariff regulations It will pro ceed for the next four years. li i declared that until the tariff changes are made there will be uncertainty I all lines of business, and that I threatening action on the tariff wtll hang over the advancement of the country like a storm cloud. Therefore, say those anxious for an e,aiiy settle ment of the uneertaintly. l«»t us have ■> special session as soon as possible. This view seems to be shared b©i»t Continued on PflKf 10, < olmnn ft Ashbury Terrace A new beautiful Marine View Resi dence Park right in the heart of the fashionable Ash bury Heights—with winding roads, as phalted, and with every modern con venience — select environment — sur rounded by expen sive homes — great .big lots from 30 to 60 feet front from 82,400 to 86,000 One-Fifth Cash Best bargains in the city. Compare our prices. Send for illustrated booklet with maps and prices. Lyon & Hoag 660 M&rket St. Watch San Francisco Grow! Get the best improvement club news of the city and state by sub scribing for The Saturday CalL $1.50 n year; 7.1 rent.* O month*. 9