Daily globe. [volume] (St. Paul, Minn.) 1878-1884, 1883-03-18
THE NEW MINNESOTA CLUBHOUSE.
THE DEMAND FOR RESIDENCES.
A New Hotel to be Built-The Trans
Rers Of the Week.

unusual excitement IN st. Paul realty but
there has been a steady and healthful de-
mand. All the agents have been kept
busy showing property, making out con-
tracts and negotiating between buyers and
sellers, and the transfers show that good
many sales have been. consummated and
have reached the Office of the register of
deeds to be spread upon the records. The
returns from the office of the county treas
urer show much larger
receipts from the payment
of taxes than for the corresponding period
last year. This Is owing to the fact that
much more property is changing hands and
transfers cannot be made and deeds be re-
corded until all taxes are paid. We hear but
one report from all the offices and a single
interview will suffice to show the feeling
that pervades the minds of those who are
best posted.
Going into the Office of Fairchild & Da-
wilson to ascertain if they had any specially
large transactions to report, we found
the senior member of the firm engaged
IL very busy conversation with two or
three strangers who seemed to be endeav
oriug to determine which would net them
the largest returns, centrally located bust
ness property or acres adjacent to the city
suitable for plating. AS our capital is at
present locked up IN square million of
United States government bonds, which
we have promised our wife not to disturb,
we were not much interested in the sage
remarks of J. FairchiId, who said in a low
but very confident tone, "Gentlemen, cen
trally located business property, even al
comparatively high figure, is the most
certain and the safest, but acres that can
be plated will make quicker returns"
We forgot the promise not to disturb the
bonds and was about to instruct him to
draw up a contract for block between
Third, Fifth, Sibley and Robert, anywhere
in the business center, but finding that we
had left our check-book at home concluded
to pursue the object of our visit and in
terview some one. Passing into Col. Da-
Wilson's private den we found maps
suspended from the patent rollers,
maps glued on to boards and
full of white and black pegs
the ex-lawyer holding a seance in front of
the map with red haired female who in
sisted that she ought to be able to ''rent
some of those houses that were pegged on
that map" The gentleman was explain
ing that there was nothing 'pegged" on
that map to rent,but that he could sell her
anything from business block to cheap,
. 4I,,& L. Isl III
her anything" and switched out to annoy
every agent that she could fine, for not one in
the city has half enough houses listed to
rent to supply the demand of a single day
eporter.-Well. how is the real estate
market?
Answer.-You see it's pretty active will
US and I think you will find it so generally
Rep.-Are there any large transaction
this week which you know Of that have no
been made public?
Ans.-Well, nothing special. We hay
had some customers from other states an
good many from out of town, and goo
deal of correspondence with parties abroa
or will send money here to be invested fo
them.
Rep.-What is the prospect for the bus
ness year just opening?
Ans.-Very good indeed, if there is n
general misfortune to the business of tn
country. MeM are conservative and care
full and money is close east and west, bU
the crops of the northwest are now bein
moved to market and money will probabl
be easier by May or June.
Rep.--Do you anticipate that much cal
ital will come to st. Paul for investmeI
this season?
Ans.-Yes sir. look for larger Unfit
of new capital than we have ever had al
previous year. Already some of the re
estate agents are perplexed by the receip
of money which they are instructed
place on their best judgment, and viii
all of US are ready enough to exercise OF
''best Judgment for ourselves, we dor
like to do it for some one else who w
hold US, (morally at least,) responsible
we make a mistake. l received letter
few days ago enclosing a draft on the Fir
National bank, Chicago, with instructor
to buy some real estate that in my jud
ment would be good investment. 1 cou
buy half the city on my own judgme
if l had money to pay for
with less perplexity than would have
making an investment of a few thousan
for friends, who throw themselves entire
upon my discretion to buy and sell &
hbitum," and say they will take the chaac
simply because they know 1 have uniforI
ly been fortunate in my own purchases.
Rep.-Then I suppose you returned t
draft and declined to assume the respon
bility.
Ans.-No; 1 bought some lots at
low figure, made out the dee
had the abstract examined, paid oy
the money, then relisted t
property at On advance of 1873 per Ger
sat down and wrote letter to the PAL
reporting what L had bought, what pr
[ was offering to sell for, and 1 hope
resell that same property inside of nine
days possibly in thirty and within t
summer I hope to return every cent tt
the draft called for to the friend who ST
it, and still have enough lots left to s