1901-06-11 SF Call
It is not known at present in what manner the new owners of the Blythe block will improve the property, but In real estate' circles statements are freely made that the present unsightly shanties that cover the property will shortly be torn down to make way for handsome buildings. ' In the purchase of the Blythe block the purchasers come Into possession of 54,345 square feet of land, with a Market street frontage of 271:S% feet. The Baldwin Hotel site has an area of 34,127 feet. The present rentals from the Blythe property are stated to be $140,000 per annum. That portion of the Blythe block sold last year to the Mutual Savings Bank for $290,000 has a frontage of 53 feet on Market street and 74 feet on Geary street. The' lncorporators, who are also the directors, of the new corporation held ,a meeting yesterday and organized by elect- Ing I. W. Hellman, president; J. Henry Meyer, vice president; L W. Hellman Jr., secretary, and the Nevada National Bank treasurer. The capital stock so far subscribed for is divided among the directors as follows: I. W. Hellman, 47 shares; I, W. Hellman Jr., 42 shares; J. Henry Meyer, S5 shares; Henry F. Allen, Louis Sloss. John C. Coleman, C. de Guigne and Thomas Magee, each 23 shares, and A. Haas. 11 shares. The articles of incorporation have been filed at the City Hall. While they do not set forth the purpose of the incorporation In specific terms the stockholders agree that the combination ¦was formed to acquire the Blythe property. The directors are nearly all largely connected with the banking interests of the city. subscribed is $25,000.