Daily globe., 1883-07-29

1t GEMS to be useless to multiply words
about the condition of the real estate
market where there is really SO little to
say. The condition during the past week
is substantially the same as that of the
preceding week. There is "a good, live,
active inquiry for all kinds of realty, and
prices are firm and even stronger than
they have been at any other period of the
season. There is plent, of money here
also awaiting investment, but everybody
has so much confidence in the pros
poets of the city and its solid,
immediate growth that, in one sense buy
ers and sellers are both Indifferent whether
they trade or not. The buyer is willing to
wait and take his chance to pick up some
thing little under the market, while the
seller is perfectly satisfied to hold on with
the expectation of an advance. This con-
dition of the market is partly due to the
great uncertainty in regard to the location
of the big hotel, partly to the opening of
the Northern Pacific railroad in Septem-
Der, and the impetus that is expected to be
given to business when that event takes
place, but generally and principally, to the
general understanding and admitted fact
that St. Paul is destined to take rank as
great commercial center, and to stand as
one of the few largest cities on the Ameri-
can continent. This IDEA stands out prom
inently, in every transaction. The express
sion is often heard that it makes no differ
ence where you buy real estate in st. Paul,
any person who buys is bound to make
money on the investment. The only
question is as to where to buy to
make the most money, and this uncertainty
as to where the most money can be made,
is one great reason why the transactions
are so limited. The result of all this is
that the real estate market in st. Paul pre-
sents an exceedingly interesting and Pc
culiar appearance. With plenty of money
in the market to buy with, and plenty of
real estate offered upon which it is ad-
mitted money can be made, buyers still re-
fuse to purchase unless they can get
"soft thing" and holders are stiff in their
demands. A frmer market was never seen
than is the real estate market in st.
Paul to-day. Yet sales are not
numerous. That is to say, there is no
marked improvement in the volume of
transactions. The weekly sales run along
at about $25O,O0O to $35O,OOO. Most of
this is for residence or business property.
and is intended for actual or immediate
use. The speculator is not here to any
great extent and sales are consummated
simply because the people who buy want
the property for Immediate use.
At no period since the time the new ho-
tel project was started has there been SO
much talk about it, and so much curiosity
manifested to know where it is to be To-
Gated, as there has been during the past
week. 1t is difficult to tell just how many
places have been selected for it. Every
body knows just where it is to be located,
and everybody stands ready to buy all the
property around it as soon as the site is
decided upon. 1t is expected that when
the site is finally determined upon that
there will be as livelya rush as there was
for Mississippi street property during the
spring when the Northern Pa
cifc purchases we're made
known. This doubtfulness in regard
to this matter is causing a good deal of
capital to be hung up, which will not be
let loose till it is known where the big hotel
is to be.
No important sales have taken place
during the week that call for any special
mention. One of the most important sales
made was that of lot 5Ox1OO feet on Sixth
street between Wacouta and Rosabel streets
for $12,500. The property was owned by
G. V. Bacon and L. K. Stone, and the pur-
chaser was M. G. Brown, who resides in the
east. Last Thursday Kavanagh, the auc-
tioneer, sold a number of lots on West
Seventh street at what are regarded as good
figures. The sale was generally attended
by business men and the bidding was very
active indeed, the prices realized being
considered good. The two lots on the cor
ner of Seventh and Chestnut streets. COX
100 feet each, were bid in by 81. II. Herbst
for $4,000. The adjoining two lots of the
same dimentions were purchased by Mr.. A.
H. Wilder for $4,000, and G. I. Miller be-
came the owner of the adjoining two lots
for the sum of $4,000. The same gantIe-
man purchased the lot in the rear of those
above mentioned, 25x12O feet, front
ing on Chestnut street for S1,625.
For $1,400 Judge Flandrau secured
the last remaining lot adjoining
the last above mentioned. The total
amount of the sale was $19,O25, and it was
highly satisfactory in all respects
Fairchild & Davidson report everything
looking favorably for an unusually large
fall business. They do not claim to have
inside information about the new hotel
and chamber of commerce site, but they
say they have real estate listed with them
for sale that will double discount hotel
IN profits to the man who buys it now.
They are looking for an unusually active
fall, and say that from and after Septem-
Der 1st business will be lively in the real
estate line.
official Transfers.
The following are the transfers as they
appear on the books at the register of deeds,
the sum total being: $1S2,425