Daily globe., 1882-05-29

tTdlu DOunu LOT tQInOnQtOn, u pOlnL q InOu-
sand miles northwest OF Winnipeg. They ex-
Winnipeg, and were voluntarily seeking hard
ships, privations and dangers, which, 1t
would seem, nothing they could hope for in
the future could ever furnish adequate COM
pensation.
But Winnipeg being my objective point
the "beyond" having no a!lurements for me-
will give the readers Of the GLOBE my i'm
preston OF this busy, bustling, wonderful
city.
Winnipeg is a live town, and is undoubtedly
destined to become a large and prosperous
city. 1t must always be the distributing
point for the Northwest territory, and will
continue to grow as that vast region is set
tied up. l should think the actual population
must be from 10000 to IL, 900, with a floating
population, living in hotels, boarding houses
and tents, of half as many more. This large
number Of strangers, constantly coming and
going, gives the place an unusually busy look,
as they spend larg part of their time while
there upon the streets-that is, when the
weather is at all pleasant.
The real estate craze in Winnipeg, which, so
far as my knowledge extends, has never bad a
parallel anywhere, has at last come to an end,
and the crash which is to follow, as the obli-
cations incurred mature, will be something
appalling. Just think of vacant lots in a
town of 10000 inhabitants selling for S1,700
per front foot, and then wonder that this thing
could have lasted even as long as il has.
These land speculators die awful hard, but
their end has surely come and they all recog-
nize it. Ask them how real estate is, and if
it is in public place, where the answer is
likely 10 be overheard, they will say, Every
quiet just now; but little doing" But if the
one interrogated happens to be an acquaiRt-
ance or friend and wants to tell you the truth
without giving the thing away, he will whis.
per in your ear when you ask him how real
of the many which were related to me will
give an, idea of how the thing fourished and
how it has collapsed. The first was told to
me in this wise: The Congregational church
| society, few years ago, when lots were
cheap, bought a lot nearly opposite
where the Queens hotel now stands,
and but a short distance from the
business center of Main street. They built
upon it handsome church ediice, costing
perhaps Sis, ,0ee, and in doing so incurred a
heavy debt, under which they have been strug-
CLING ever since. In the meantime the city
has grown all around them, aud their church,
which was intended to be somewhat reti red,
is now surrounded by business houses and is
in the business heart Of the city. Four months
ago, when the boom was at its highest point,
they concluded they had better sell out, buy
cheaper lot and get out of debt. They accord
ingly put it upon the market and sold for
$4,000, getting enough cash to liquidate ali
their Indebtedness and have handsome sur
plus remaining. Ny informant said that it
was absolutely certain now, that they would
get the property back again. but as they are
out OF debt and have money to loan, they are
not feeling badly over the prospect.
The other instance is of an opposite charac-
ter and is one only of hundreds of similar
nature. young man, a clerk in dry goods
store, like every one else, became imbued
with the idea of making his fortune in real
estate. All the capital needed to start in the
business vas sufficient SUM to pay the earn
est money required on his first purchase. This
he could readily command and he went in.
For while he was dealer in margins only.
He would make a purchase and while his
attorney was looking up the title he would
hunt up purchaser who would pay him
bonus for his bargain. Thus he operated for
four months until he had about S11 900 in
cash. Not satisfied with what had become
to seem a slow accumulation, he concluded he
would make ten-strike at once and then
retire. He made purchases to the amount of
nearly fifty thousand dollars, paid out all his
cash and gave notes and mortgages for the
balance. His first payment comes due the
first Of June and he is without dollar to
meet 1t, and cannot get an offer for the prop
erty OF any price. These two instances will
suffice to demonstrate the rise
1t is the same old story which has been often
repeated, only intensified by the wildaess of
the craze and the generality with which it has
penetrated,all classes Of people who have come
within its influence. l learned that over
three million of dollars worth of paper, given
for real estate, falls due in June. the most of
which can never be paid. What effect this
will have upon the business interests of the
city depends of course upon the extent to
which the merchants and busines men have
dabbled in real estate. 1t is more than prob
able that most OF them are deeply involved,
and many heads and hearts will be made to
ache before the summer is over.
There are many good stores in Winnipeg
and all seem to be doing prosperous trade.
The hotels, however, are execrable for place
of this size. There are good many of them
and some quite large. notably the Queens and
Grand Union, and all filed to OyerfOwlng.
They are all kept by Englishmen. who, if the
Winnipeg hpstelries are any criterion, don't
know how to keep hotel. A new hotel, to be
called the Canadian Pacific, is being built
on Main street, which will be mon
ster. 1t is to be 1S0 by 200 feet, five
stories high. A large force of men are at
work on the foundation, and it is expected to
have it under roof by winter.
Lie NcdtucI WuOic vi my SLdy
in Winnipeg was very unpleasant, and my i'm
ipressions of the place are not as favorable as
they might have been under more favorable
circumstances. 1t rained nearly all the time,
and the mud was simply awful. Aud such
mud Oh horrors! I can never forget it till
my dying day Those who have never had
the pleasure of perambulatisg the pavements
Of Winnipeg in muddy weather can have 10
conception of it. No description is adequate.
Soft soap is nowhere. Molasses would be q
luxury The two combined, with little tar
mixed with it, is the nearest can come to de-
scrlbing it. The stranger is readily recog-
nized by his efforts to keep his perpendicular.
The native Winnipeger, like the boy who has
mastered the art of skating, gets along very
well and don't mind it, but the movements OF
the novitiate, in his efforts to keep from stand
ing on his head, is laughable in the extreme
left Winnipeg last Sunday morning in the
midst of the worst snow storm have seen
this winter. The snow was fully six inches
deep On the level aud drifted in many places
two or three feet. The storm was so bad that
the buses could not make hotels in their usu-
al time, and our party at the Grand Union,
fearing we should be left, started out to walk
to the depot, distance of half mile The
wind was coming down from the north at
fesrful rate, piling the snow up in huge drifts
any obstruction was offered in its