Daily globe. [volume] (St. Paul, Minn.) 1878-1884, 1882-11-12
REAL ESTATE.

Heavy Transfers Du ing the Past Week
Outsiders Investing Largely 10 Business
and Residence Property-The Banking
Capital-Kec n. Increase Not Equal to
the Demands of Eusiness-Tl,c Transfers
of the Week Fred for Record.
The transactions during the past week
in real estate have been large. and consid-
ering the season they are quite remarkable
The records of the register of deeds Office,
however, do not do quite justice to the
work of the week, for the reason that quite
a number of sales of real estate, and large
ones too, have not yet been recorded. The
total sales as shown by the records of the
register amount to $274,SOO.
THE DESIRE TO COME TO ST. PAUL.
One of the most conclusive and satisfac-
tory indications to be observed in the
present history of st. Paul, concerning her
growth and future prosperity, is to be
found in the anxiety capitalists are mani
Testing to invest their money here. There
is growing desire on the part of citizens
in towns and cities, not only in the state
of Minnesota, but also in adjoining states,
to invest in st. Paul property. This dis
position is the manifest and necessary result
of strangers coming here and Witnessing
the thrift and energy of our people, and
the rapidity with which the city is build
ing up. Wherever strangers go in st.
Paul, they see piles of stone and brick go
ing up, five and six stories high, in the bus
mess part of the city, while in the resident
part of town, large, elegant, and costly
residences adorn the avenues, and far out,
even beyond the city limits, dwelling hous-
es are going up with marvellous rapid
ity. All this the strangers sec
and they naturally are impressed with tho
idea that there must necessarily be a
large amount of wealth here, and the next
impression is that this wealth would not
be here in St. Paul but for the fact that
there is use for it here, that it can be
proftably handled here, in short that St.
Paul is Q good place to come to to do
business. Men don't allow their costly
dollars to lay idle bringing in nothing to
them. They therefore conclude, and that
too, very safely, that st, Paul is a fast
growing, thriving business center and a
good place in which to embark in business.
These statements are fully verified, OF can
be. One has but to open his eyes and
look around and he will see the evidences
spoken of, and he has bqt to ascertain
where many of our largest dealers come
from to verify the conclusion that foreign
capital is rapidly coming in here to get
some of the good things promised to the
big dealers in St. Paul. We cannot
take the time now to go through our heavy
houses, and select out the men who have
come here from abroad, and put in their
money. They are numerous. They come
from all the old states where capital can
not command anything but small interest,
and where large capital seeks an invest
ment. One of the most noticeable places
of this kind, among small towns, is Deco
rah, 10. From DEBORAH good. deal of
capital has come to st. Paul, both in the
way of business anda for invest
ment. DEBORAH is town where
many of her citizens are very wealthy,
their wealth running all the way from
100000 to $1,OOO,000. A good many of
her people have transferred considerable
portions of their property to st. Paul, and
are now obtaining from it large, secure
and satisfactory incomes. About the same
may be said of St. Peter, Red Wing, St.
Cloud, Msnkato and many other towns i'll
Minnesota. All see the tendency i'll these
ItlrS 10 i'm ,r,.olf Of
trade III few large centers.
This grows principally out of the means
furnished by rail, telephone and telegraph
for quick and easy communication for one
selected place to furnish large surrounding
districtsi with all that may be required.
This tendency is greatly increased by hold
ing industrial expositions, running for
thirty and even sixty days. General
ly speaking, these large industrial and
mechanical expositions are held in the fall
after the farmers have finished the bulk of
their farm work. The result is the people
husband their resources till that time comes
and go to this large center of business and
there do the bulk of their trading, and
whatever of little things they may want
from time to time they get from the
country store. These exhibitions, held in
st. Louis, Cincinnati, Chicago, and other
large business centers, all illustrate what
has been said above.
BANKING CAPITAL.
A larger banking capital is required
here. Business is doubling up so rapidly
in st. Paul that necessity exists of large
ly increasing our capital. The banks
themselves appreciate this and have
taken some steps to meet the
demands by largely increasing their
facilities. The First National bank has
gone around to the corner of Jackson and
Fourth Streets. where it is now erecting a
new block, which will enable that institu-
ton to Do much larger business than it
did in the old location.
Dawson d Co. have changed their bank
to the Bank of Minnesota" and increased
the stock from 100000 to $6O0,OOO
Great regret is expressed that they did not
increase the stock to 100000. With the
age, experience and reputation the
managers of that bank have for
business sagacity and integrity, and their
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