Daily globe. [volume] (St. Paul, Minn.) 1878-1884, 1883-03-18

a time will come Il think it will be two or
three years yeti when the activity will
cease, and then owners whose property is
heavily mortgaged will lose it, and then
they will curse real estate.
Rep.-Has not property gone up now to
such prices as to render the chances for
advance much less than heretofore?
Ans.-In my opinion it has not. 1t is
true that most property has advanced a
great deal over its valuation in the dull
years of 1S76-1S77, but it has not near
reached its intrinsic value. Real estate is
safe and profitable when it will pay or 6
per cent. net St. Paul real estate will
pay from to Is per cent. income on pres
ent prices, so you see it must advance
very largely to bring it down to per
cent. basis.
Rep.-Is there really as much demand
for property as the weekly reports indicate!
Aus.-Yes, as an illustration one morn
ing the past week my door-bell rang, about
6 a. M, and on going to the door l found
a nonresident gentleman, who SAID he
would leave the city at $40 a. m, and he
desired before going to make cash de-
post and take contract for some st.
Paul realty. 1 went to the Office, sold him
a $16,5OO lot, closed the contract and re-
turned home and breakfasted at the usual
hour. That shows how determined men
are to get some st. Paul property while it
is held at low figures.
Thanking the gentleman for his views
on the above points, we left him to wait
on the crowd of customers who had col
lscted in the outer Office, all of whom
looked as though they were bound to have
some of that real estate"
We felt that 81 per cent. United States
bonds were a rather shabby affair to rely
on, and if we could persuade our wife that
anything less than ian even million''would
do, we would risk about one tenth of it in
st. Paul real estate.
ACTIVITY.
The evidences of activity are
quite marked everywhere, and
blasting rock, sitting sand,
hauling earth, moving brick, mixing NOR
tar, sorting lumber, saving boards, squar-
ing joists and fitting frames proclaim on
every corner that the activities of an unu-
sually busy season have already COM
menced.
CONTEMPLATED IMPROVEMENTS
are altogether too numerous to mention;
indeed it would take separate sheet, if not
whole GLOBE to chronicle the new pro-
iects that are being industriously worked
up. Ground has been secured al
the southeast corner Of Cedar and Fourth
streets for the Minnesota club building
which is to be credit to the city and or
namental as well as useful. The gentle
men who are managing this enterprise
don't care to make a spread in the newspa-
pers but it is understood that when they
are ''under roof they will give good
many Spreads It means an elegant ant
massive building fronting the new six stor!
block which is being erected by the David
sons. By the way we learn that Commo-
dore Davidson, while in st. Louis, bought
st. Louis pressed brick for the Fourt
| street front of that block
Saltwater pressed brick will be used OF
the Cedar street front. The footing stone
for the new arcade are being hauled from
the Opera house excavation and piled u
on the ground in block II, which looks lik
"the old man means business"
Plans and sketches are being submitted
for the new bank building corner O
Fourth and Robert and the tenants in tn
old r0okeries on the ground are fleeing
''like rats from a sinking ship"
Out with the old! All hail the new!
MACALLEsTER COLLEGE.
This new institution of learning has, "
understand, adopted the beautiful pIar
prepared by Messrs. Wilcox 81 Smith, a
chitects, who have recently opened an offiC
in Manufacturer block. Bids are being r
csived for the erection of part of tn
new structure, and it is expected that
contract will soon be let for one wing
the college building. 1t is a handsome
planned edifice, and as soon as it is we
, under way some comfortable homes fl
the professors will be started in the imm
date vicinity.
Not less thanS25,O0O will be expended Il
present year aid it will be followed
r liberal eIpend lures each succeeding yea
That institution will give tone and cha
acter to all the surrounding neighborhoo
and backed up by Hamline on the mort
} the state university on the west, the mi
tary at Fort Smelling and the bon ton
st. Paul it will become 1.-THE rage" al
t people who never thought of raising al
2 children before will raise few ''just
7 educate them at Manchester college,"
NEW CHURCHES.
= Education, religion and refinement S
L hand in hand and as the ST. Anthony b
region is getting all the institutions
learning and large per centage of refr
y ment new impetus has been given
u church building.
Is A new Congregational church of fine &
chitectural design and commodious int
d or, is being talked of for the corner
I Holly and Mackubin streets.
i Rector Kittson has plans prepar
II for the erection of beautit
IL church on the corner
q Ashland avenue and Mackubin streets
81 is to be built of stone and will cost abe
Is $4,000.