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

Outsiders Investing Largely in Business
and Residence Property-The Banking
CapitaI-Hec n. Increase Not Equal to
the Deir nds of business The Transfers
of the Week Flied for Record.
The transactions during the past week
in real estate have been large, and ccnsi3.
ering the season they are quite remarkable.
The records Of the register of deeds Office,
however, do not do quite justice to the
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 1874, 500.
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 a 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 60 in st.
Paul, they see piles of stone and brick 60
ing up,fve 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 see
and they naturally are impressed with the
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
profitabiy handled here, in short that St.
Paul is a 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 fast
growing. thriving business center and a
good place in which to embark IN business.
These statements are fully verified, or can
be. One has but to open his eyes and
look around and he will see the evidences
spoken OF. and he has but 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 any thing 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 a goodiss deal of
capital has come to st. Paul, both in the
way of business andi 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,O00. 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.
Clout.. Mankato and many other towns in
Minnesota. All see the tendency in these
.looefm days 10 The Capitalization OF
trade IL Il 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 oenters, all illustrate what
has been. said above
BANKING CAPITAL.
larger banking capital is required
here. Business is doubling up so rapidly
in st. Paul that a 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 S6O0,OoO
Great regret is expressed that they did not
increase the stock to $2OOO,OOO. With the
age, experience and reputation the
managers of that bank have for
business sagacity and integrity, and their