Daily globe. [volume] (St. Paul, Minn.) 1878-1884, 1883-03-04

AT least the calendar DIVISION OF IllS year
and the actual condition of the weather
indicates spring. The activity in lots.
garden plats and farm acres in and
around ST. Paul shows that the season is
advanced TO about where the market
usually is in the month of April. With
vanishing snow and ice and reappearing
mud the streets and drives about the city
are not in the most inviting condition, but
men who are watching a chance to make
331{ per cent. on investments in sixty to
ninety days seem willing to brave the
mud and March winds, and
insist or looking at and buying
suburban property at any sacrifice
of personal comfort. There are notably
two or three classes in the market at the
present time. One class, which Is rapidly
increasing, is composed of spectators
whose capital is limited and who make
quick turns on small margins. They are
very wide-awake and have noses like blood
hounds to scent every projected improve
ment that will put up the price of prop
erty. They rush in and buy twenty-four
hours ahead of slower people and imme-
diately resell at a handsome advance. In
this way considerable money is Melted on
quick turns. Another class is composed
of solid men of capital who buy high
priced, centrally located business property
and who are willing to hold for
better figures than such property has here
tofore commanded. The fact is business
property has for a long time been held
and still is held at such low figures that
far seeing men of means have been invest
ing and holding such property knowing
that it would come to be appreciated and
sought after at its fair reasonable value.
There is another class who are buying and
improving, who do not take hold of prop
erty to resell, but they fasten on to it as a
man takes wife, "for better or worse"
with the expectation of holding it as long
as they live and then leaving it to their
heirs. In a growing city like Saint Paul
money cannot be put into any securities or
any investment which will probably pay
so well in the long run, say for period of
fifty years, as improved business property.
The rental will usually pay all taxes, assess
ments, repairs aud insurance, and net in
come equal to from to 10 per cent, ac-
cording to locality, and the increase in
value Of the ground is usually very hand
some. OF course in older cities prices have
become much more fixed and settled, and
there are not the same opportunities for
rapid advance in value that are to be found
in new and growing city like
st. Paul. The future of this city is
SO certain, and its foundations for pros
perity so broad and sure that it is only
surprising that capitalists have been SC
slow to perceive and take advantage of the
situation. The trade and commerce of the
East has built more than one magnificent
metropolis, and all the great powers of
Europe have for centuries schemed and
plotted, planed and battled to secure the
trade of India, China and Japan. The
building of the various railroads across
this continent from the Atlantic to the
Pacific oceans has shortened the route
to the eastern world and the
trade that was theretofor,
done wholly in ships now makes quicl
transit across this continent by rail, and i
has contributed largely to the building NJ
of San Francisco, st. Louis and Chicago
With the completion of the Northern Pa
cifc railroad across the continent tina
eastern commerce will be divided.
What the Central and Union Pacif
roads have done for San Francisco, ST
Louis and Chicago, the Northern Paclf
will do for Seattle, or wherever its Pacifi,
harbor shall be located, and st. Paul
Until the construction of the division
easterly from st. Paul is completes
this point will remain practically it
eastern terminus. That road will carr
all its vast freight and passenger bushes
to our city, and here it will turn it loose
as it were, for all the great through line
radiating from this point, to secure it al
active and sharp competition. The 81
Paul & Milwaukee, the Northwestern, tn
Chicago d Omaha roads are already here
the Rock Island is coming into the city
and the Illinois Central and the Chicago
Burlington 81 Quincy and indeed all tn
great carrying corporations of the Yves
must and will force an entrance into thi
territory and st. Paul is the objective poin
VI SfSAy E1OLIt4O HOoGOlA1 AOeiN' LII
Mississippi river is already here. 1t mad
the connection through to the falls OF s.
Anthony ahead of any railroad prospecto
and before Noah had even consulted an al
chitect for preliminary sketch for tn
ark. New and magnificent passenge
packets are already building for this trad
and the time is not far distant when som
man with organizing and executive abilit
will put on foot a scheme by whic
one great corporation will own, operate an
control a line of steamers, and steamship
that will give through freight bills an
carry passengers and produce between S
Paul, the center of the Northwest, an
European ports. Through freight froI
the Pacific coast to all points on the Mis-
issippi river will not submit to the scheC
ules and tariffs of the Central and Unto
Pacific monopolies any longer than the
are compelled to do so, and when this ne
northern route opens the river traffic wi
multiply an hundredfold. Possibly tn
will not take place at once br
within a comparatively brief period til