Daily globe., 1883-05-27
REAL ESTATE.
THE DEMAND FOR GOOD PROPERTY
STILL LIVELY.
Bogus Transactions Designed to Influence
the Aarket-How the Operators Work
The Transactions for the Week,

been in as much demand as ever. There
seems to be lull in. ,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 Rew 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 toll
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 I have q 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 ia 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 chance. l have
got a piece of property right
near there that can sell
you at $4,000. Give me $25 and I will
give you thirty day contract. have au-
thority to give that and here the parasite
shows his contract from the owner. The
victim thinks this good chance, only $25
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 filed 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. In 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 the 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 W&ba-
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 con
siderable distance, more especially on &C
count of the paving business. The CON
ditiOn of affairs makes one wish for the
quiet and repose of finished city.
LOTS IN TERRY's ADDITION.
The auction sale of eighty nine lots in
Terry's addition to st. Paul offers many
inducements to investors and those in
search of homes. Its convenience is shown
by the fact that the lots to be offered lie
but three blocks, at the farthest, south of
Gribben's planning mill. A new depot is
to be built in this addition and made the
stopping place of five different railroads,
thus giving almost continual communica-
tion with the business center of the city.
The Street Car company's extension of
their lines to the Rifle park will also pass
through the property to be sold. The ad-
dition is already we'll built up by re-
spectacle class ef people. There are also
churches and schools, in addition to g
large number of manufacturing enter
prises. The sale will take place on Mon
day afternoon at O'Clock. Liberal terms
will be given. P. L. Kavanagh will con
duct the sale.
MISCELLANEOUS.
Among the recent sales is block in Mac
kubin & Marshall's addition for $1,000.
The st. Paul Foundry & Manufacturing
company is laying side tracks to the ground
lately purchased on the north of the st
Paul & Manitoba road. This company is
also getting ready to put in the founda-