Daily globe. [volume] (St. Paul, Minn.) 1878-1884, 1883-01-07
REAL ESTATE.

The real estate market has been very
dull during the past week, and the record
ed transactions amount only to $4,000. All
sorts of reports have been in circulation in
regard to what the Northern Pacific road
proposes to do with the 200 acres recently
purchased out near the transfer grounds.
The officers of the road are very reticent
upon the subject, and all that is really
known about it is that the grounds are to
be used generally for the purposes of the
road. and that the future will determine
just what buildings will be constructed
and how the grounds are to be utilized.
Notwithstanding the severe cold weather
worlmen are still busily engaged in lay
ing the stone foundations for the ware
house of the Chicago, Milwaukee u ST.
Paul road, on the bank of the river below
Sibley street, and daily the walls continue
to rise.
Work is still progressing on the new
headquarters building of the Northern Pa
cific road, on Wacouta street at the foot of
Fourth street, and, the same may be said
of brakes block on Third, nearly opposite
the Merchants hotel, and also of the Gil
fillan aud McQuillan five story blocks on
Fourth street between jackson and Sibley
streets.
A report is very quietly circulated in re-
gard to big manufacturing establishment
to be started here soon, with a capital stock
of $2,OOO,OOO. The matter is kept very
secret, and those that are understood to be
interested in it refuse to give any informa-
ton of a definite character.
Building throughout the city is
progressing with almost as
much rapidity now as it was
during the summer season, and in ali parts
of the city new foundations are being pre-
pared for and the dirt is being removed as
fast as men and teams can take it out.
As usual the architects are very busy
with their plans and estimates for building
for the coming season. Although very
large number of buildings were erected in
ST. Paul last year. there can be no doubt
that during the present year the number
erected will far surpass those of last year.
They will all be needed, espe-
cially large warehouses and moder-
ate sized dwelling houses. ST.
Paul has suffered severe loss in the past,
because she had not sufficient number of
dwelling houses. It is evident from the
reports that come from all quarters as to
immigration the present year that we shall
suffer again during next summer in the
same way that we have heretofore. There
are not dwelling houses enough in the city
at the present time, nor will there be next
summer to accommodate the influx of
population. The Northern Pacific road
will be opened through to the Pacific coast
within six months from this time. When
that event is completed st. Paul will, more
than ever feel the need of more large sized
warehouses. This is not the first time this
statement has been made, but it cannot too
often be repeated. Much was done last
year in the construction of this kind Of
buildings, but it is evident that many more
than we now have will be needed. When
the road referred to is opened, as it will be
next summer, immense freight will come
to StPaul over this great thoroughfare,and
additional facilities will be required for the
transaction of this additional increase of
business. Several new blocks of five-story
warehouses are projected, which will help
good deal to meet the requirements but
the general impression is that many
more will be needed than are arranged for.
This is a serious matter, and ought to be
adequately and properly attended 10 n
time.