1901-06-09 SFChronicle

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1901-06-09 SFChronicle - jj - er - - - - r No No announcement Is made by...
jj - er - - - - r No No announcement Is made by the Hellman syndicate as to whether or notiif will 5 improve the entire property or whether it will Improve a portion and dispose of the re malrider4Thepossibilltlesinthe direction of improvement are enormous1 TheBythebIock Is one of the best in San Franclscoso f ar as traffic and movement are concerned Market street Is jthe great artery of the city Kearny street is Jts principal Irlbntaiyand out of Third street flows the travel of persons reaching San Francisco from the growing growing suburban town on this peninsula and the coast coun - tlestavthe south Yet for reaeons beyond the power of the late owner theBlyhe block has fallen Into a condition even nore deplorable than that In which she found it Most of the buildings areverltable shacks the unvenerated survivors survivors o the tlnieiwhen this city was still n the pioneer period There is nothing now thatstands in the way of this block being covered by the most handsome strucures in San Francisco as the purchasers are men of great wealth The location insures abundance of tenants and remunerative remunerative rents and It is fair to presume that the days when the Blythe blockihas been a disgrace to this city and an Impediment Impediment to Hhe general Improvement of Market streetwll soon be of an unreverenced past A promise of what the future may have in store is furnished by the building for the Mutual Savings Bank under course of erection on the parcel ofthellpckHold to that institution Negotiations for the sale of the property to one or mors pTsoTiaor corporations have been pending foi manjr nfonthii ifijtneof these were with capital owned in the East as it seemed for a time that the proposition proposition was tooenomous for local consideration Finally however Thomas Magee Sons who made the sale found in I W Hellman and his associates men who were equal to the occasion and yesterday with Attorney A A Moore and W J Bartnett of Gunnison Booth Bart - nett representing Mrs Florence Blythe Moore consummated consummated one 6f the largest real estate transactions on thb - Pacific Coast Thomas H Blythe the man who acquired the property property known as the Blythe block died in 1883 The fight for his estate which included a large tract of land in Mexico the whole being valued at 35000000 began in earnest in 1885 and was kept up by an army of claimants for fifteen years Finally tbeestate was awarded to Blythe8 daughter now Mrs Moore TDuring the litigar tipn half a million dollars was palij tgadnilnistratorsand attorneys and at Its close the attorneys came in - for a million dollars more To pay off these latter claims the estate was - mortgaged for a mllilon - doUar and a small portion of the block was sold to vthe Mutual Sav0gs Bank -

Clipped from San Francisco Chronicle09 Jun 1901, SunPage 12

San Francisco Chronicle (San Francisco, California)09 Jun 1901, SunPage 12
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