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A OF VIEW TYPICAL RESIDENCE SECTION, FIFTEENTH AND R STREETS N. W. Bank of Chicago, which has just been taken not only on account of their size, but being place, but they always had money to is usually considered in estimating the cost AS AN INVESTMENT cause of the attractiveness of their extein charge by the IHinois state bank examof building. buy one of my grandfather's lots, and now The cost of lumber is one of the serious iner. the "poor savings depositors" are they own the most valuable property in all riors, due to the excellence of the workmanspoken of, most of whom are foreigners, SE considerations at San Francisco. The sudEAL ESTATE GOSSIP parts of the city of New York." ship and the taste displayed in the designs. and were thrown into a wild panic when den demand upon the lumbermen of WashThat other great work, the steam railroad SOME the doors of the institution were closed. CHARACTERISTICS OF ington and Oregon to meet the exigency terminal in this city, has also a record of 16TH STREET PROPERTY. Whatever may be the cause of this susthere has reduced the lumber supply at progress made during the past summer. The REALTY HOLDINGS. pension or the offense of the men who other points to such an extent that buildelevated approach to the city from the controlled and managed the bank, there is Ac ing operations have been greatly retarded. me Notable Improvements of Corner Site Bought by the Carnegie north is practically finished except the secone point about which there can be no Since the disaster of April 18 the lumbertions that lead into the union depol. Work Institution. doubt. No banking institution should be men of the Pacific coast have given San still remains to be done on that structure. For those who can afford to buy, impermitted to hold itself out as a savings The announcement made during the past the Past Season. Francisco orders preference, with the rebank and invite or receive deposits as such Other Activities. prove and hold real estate, there is no sult that there is a scarcity of lumber week of the purchase by the Carnegie Inand use the funds so received for ordinary threatened at Los Angeles, one of the most doubt that this form of investment, everyIn these glimpses of what has been going stitution of a large building site on 16th loans or in any of its commercial banking active building centers in the country. It thing considered, offers the most stable, and on here in a material way during the past street, where it is the intention to erect an operations. The functions of a savings is estimated that 2,000,000,000 feet of lumber one might say, the best form in which bank are entirely different from those of a few months everything, of course, has not administration building of the institution, HO will be required for the rebuilding of San RESENT AND PROSPECTIVE commercial bank. and the two should never wealth can be put. If one considers the Francisco. A few years ago this supply been included. Nothing has been said about created a good deal of interest. In addition be confused. A savings bank proper is not would have cost about $30,000,000. It may present position in the world of those whose to the importance of such a step from the the activity in the residence sections. The in the banking business at all, and the use cost more than $40,000,000 now. In the reancestors secured and held real estate of alstandpoint of the material progress of the latter is a feature of the city's development of the term is unfortunate, as it confuses port of progress at San Francisco it is most any kind, the attractiveness of th's Peo the mind regarding its functions; but "increased Facilities Provided for the city, this transaction is also of consequence that is highly important, and it may be noted as significant that those who were stitution for savings,' sometimes adopted, form of investment is very evident. Few of said that this year will go down as one formerly heavy investors in buildings seem for the reason that it means the building up is clumsy and does not succeed in establishthose now alive know anything of how the marking a notable progress in this respect. to be moving slowly in improving their Business of the City. of one of the vacant corners of a thoroughing its distinctive character in the minds Additions have been made to the area of ruined property. Russells, the family of which the Duke of fare that is regarded as one of the handof the people. the subdivided land of the city, new streets Bedford in England is head in the present somest in the city. But the essential thing is not the word, have been opened, especially 14th street, Taken in connection with other recent imbut the institution, and its character should generation, acquired their landed property; Growth of the Telephone. and vacant lots have been built up with NO ME NEW PUBLIC EDIFICES provements along that street, it may be rebe established by law. A savings bank but to one who stands at Russell Square, From Scribner's. houses or flat buildings. The extent to garded that 16th street has entered upon a should be a bank for savings exclusively, which this has been done has been the subnear which is the British Museum, and "Hello, Central!" was first heard in 1878. new phase of its career. On the next block and its deposits should be carefully safeject of surprised comment not only during wanders around the little park for half a to the south two new residences belonging guarded and not used promiscuously in the Today the exchanges are numbered by the Ho the present season, but for several seasons Great Deal Done in Adding to City's mile in either direction, the wisdom of holdto the class of large houses are in course loan market by its trustees or by any thousand, the telephones by the million. past. ing real estate is apparent. This property of construction. A permit has just been bank in which its funds may be deposited, The evidence of the city's growth is so Various industries unknown thirty years has been in the hands of the family probAttractiveness and Enlarging taken out by Mr. O. G. Staples for the imexcept such balance as it may have inapparent that it has become evident even ably since the Norman conquest. vested for current use. In the ordinary provement of his property at the southeast ago but now sources of employment to to the most careless observer. oNt only There has been no generation in this side of the circle by the erection of a resibank the depositor surrenders control of Its Business. many thousands of workers, depend enhave large areas of vacant ground been thousand years when the property was not dence. Still farther to the south is the his money. It belongs to the bank and he tirely on the telephone for support. Numercovered with houses, but what is more these becomes its creditor. In a savings bank of great comparative value. Today it is home of the National Geographic Society, ous factories making lead sheathing, dynahouses have HS n rule passed into the pos-
