Daily globe., 1883-05-28
REAL ESTATE.
THE DEMAND FOR GOOD PROPERTY
STILL LIYELY.
Bogus Transactions Designed to Influence
the Market-HOw the Operators Work
The Transactions for the Week,

Real estate during the week has been
active, and so far as residence property is
concerned for actual improvement has
been in as much demand as ever. There
seems to be lull inl,busiress prospects,
owing to the fact that investors are wait
ing for the location of the new hotel, think
ing that so large an enterprise may per-
haps create new business center.
The regular real estate trade complain
against the parasites who are artifcially
trying to manipulate the real estate mar
ket. Their mode of operating is as fol-
lows: They go to real estate owner and
asks the price of his property. The real
estate owner says he will take $4,000 for
it. The parasite says have customer
for that property if you will give me
thirty or forty days to sell
it in, and by representing that
he has prominent eastern capitalists be-
hind him for whom he is operating, he fin
ally gets the contract The par asite
then goes upon the street, looks for his
victim, finds him, calls him aside, and tells
him that he knows where the hotel or some
other great Improvement is going, and
says: ''Now if you want to make some
money I will give you a chance. L have
got piece of property right
near there that can sell
you at $4,000. Give me $25 and Will
give you thirty day contract. L have au-
thority to give that and here the parasite
shows his contract from the owner. The
victim thinks this good chance, only S25
ventured to make several thousand and
the Evening B ugle gives an account of
great sale at large price. The owner is
happy. The parasite with his $25 goes
home to his family happy. The victim
who puts up his $25 is told
by the ''cappers' that he
has good soft thing, and he goes home
to his family happy also, and his nights
sleep is filled with visions of new horses
and carriages, new mansions and new
gowns for his wife and children, Steinway
pianos, Administer carpets, etc., etc. He
Is so elated with the transaction that on
he tells his wife that on the way home
was offered $1,000 for his bargain, and she
runs to the neighbor and tells the same
story and so it goes as current news over the
town. Time travels along, and five, ten,
fifteen days pass, and no offer is made for
the great contract, The original owner of
the property looks around to see where he
can invest the money he is going to re-
ceive, and takes the refusal of another
piece of property. IL this way another
pretended sale on paper is made. The
thirty days finally come around, and moth
ing IS accomplished. The victim still holds
the contract aud begins to realize that he
has been swindled out of $25 by the mis-
representations of an unreliable, un-
principled fellow, The owner is
mad and the only person in all
this transaction that is satisfied is thu par
asite who starts out for another victim.
The building season is now under full
headway and there seems to be no end to
the structures going up in all parts of
town. Both business blocks and private
residences are going up everywhere. All
along up Fort street, that most neglected
part of town heretofore, is now literally
swarming with new structures. Up Wa
bashaw and out Rice and Mississippi
streets is the same way. OF course
all through Seventh street, east of Waba-
shaw, new structures are continually
making their appearance. On Dayton's
bluff, st. Anthony hill and all through
West st. Paul the same activity appears,
and it is now admitted that this year St.
Paul will see more buildings erected than
ever before in the history of the city. One
has but to take a short walk in any direc-
tion to verify these statements, and those
parts of the city that have heretofore been
neglected appear now to be looking up
quite rapidly. Besides the general build
ing referred to many of the principal
streets of the city are all cut up by the
construction of sewers, and the laying of
gas and water pipes, and the putting down
Of pavements, Two of our principal
thoroughfares, Wabashaw and Seventh
streets, are almost impossible for a con-
siderable distance, more especially on ac-
count of the paving business. The con-
dition of affairs makes one wish for the
quiet and repose of finished city.
MISCELLANEOUS.
among lnS recent sales Is olock IN Mac
kubin & Marshalls addition for $1,000.
The ST. Paul Foundry d Manufacturing
company is laying side tracks to the ground
lately purchased on the north of the st
Paul u Manitoba road. This company is
also getting ready to put in the founda-
tions for boiler house. 1t is understood
that work on the shops, and the other
buildings to be erected, will be commenced
as soon as the tracks are ready to transfer
the material.
Watson & Rice will commence this week
excavating for their new block on the cor
ner of Fifth and Jackson streets. This
block will have front of twenty-five feet
on jackson street and will be five stories
high. 1t will be constructed of pressed
brick, with Lake Superior sand stone trim
mings. This sand stone is of beautiful
brown color and somewhat harder than the
Ohio sand stone. Mr.. Bassford is the
architect.
All along through the Syndicate addi-
tion, out near where the Manitoba shops
are going, lots are selling very rapidly in
deed.