St. Paul daily globe. [volume] (Saint Paul, Minn.) 1884-1896, 1884-04-20


ment. The week has been characterized by
several large sales.
Mr.. Dfckerman has made large purchase
on Seventh street, near the Seven corners.
The transaction has been kept very quiet
and neither the price paid or the name OF the
party that sold have been made public.
Mr.. j. L. Forepaugh has sold to D. M. Rob
bins, for Elias H. Bottum and Chester I.
KEENAN, four lots on lower Third street, lots
s. 6, z and 8, of Kittson's addition, for
$45, 900 cash. This is att he rate Of 1925 per
front foot.
UNION PARK.
Herman Grote has sold to John j. Hinkle
his half interest in what is known as Union
park for $35, 900, which is little over 81, 900
per acre. The intention is to lay it out and
plat it, and sell for building lots. Five or
six years ago Mr.. Grote and Mr.. Hinkle bought
the property for the purpose of laying out
a park for public resort on Sunday after
moons, and generally for picnic parties, and
all manner of outdoor amusements. 1t was
fitted up with pavilion for dancing, con-
venient lookout or tower was placed upon
one of the most elevated points, large and
elegant covered stand was erected for the
band, the underbrush was cut and every
thing done that was deemed necessary to be
done to render the grounds suitable for the
purpose in view. The park was not sue
cess. 1t was thought that as it was midway
between the two cities that it could be made
to pay by running trains every half hour to
and from each city. Immense crowds of
people went out on the trains from both ST..
Paul and Minneapolis. The cars were
crowded out onto the platforms
and steps even. The people
liked the park and it was a very pleasant
place to go. Everything about it was at
tractive. The slight elevations, the valleys
between, the broad pleasant graveled walks,
and the beautiful and refreshing groves were
exceedingly delightful, yet, NOTWITHSTANDING
all these attractions, the park did not pay for
the expense of keeping it up and the trouble
and care of it. 1t was therefore abandoned
as public park, and for the last few years
were purchased by Messrs. Grote & Hinkle,
they were comparatively in the wilderness,
and there was little indication that they would
become so valuable so soon. Business has
gradually worked its way out there and now
there is quite good deal of settlement in
that locality and there is considerable
building activity. The consequence has
been that real estate has gradually and per-
sistently increased in value, until now prop
erty that was then worth only few hundred
dollars an acre has gone up to very high
figure.
WHAT MR.. HINKLE PROPOSES TO DO.
When Mr. Hinkle purchased Mr.. Grote's
interest he owned tract ON the southeast
corner containing seven and three-quar-
tiers acres which, with the park, gives Mr..
Hinkle forty and three-quarters acres, which
he proposes to beautify and improve. He
has already engaged the services of Mr.. G.
w. Cooley, a celebrated landscape engineer
who has started out with his crew for the pur-
pose of making a survey of the ground with
a view of plating it. In doing this the
effort will be made to preserve the beauties OF
the park as much as possible. The streets
w
form with the lay of the land making
the grounds beautiful residence park, with
fine drives and boulevards, lakes, etc. 1t is
the intention to have the same on record and
for sale by the LIST of June next, in lots to
suit, with building restriction and protec-
ton to residents.
SALE OF CITY BoNDs-NEw BANKS.
On Friday the five per cent. bonds of the
city of st. Paul were sold at the office of the
city treasurer, to the amount of 5000, 900. OF
these bonds $500, 600 are for twenty five years,
and 500, 900 for thirty years, but all of them
bear the same interest. They were all struck
off to Mr.. Henry w. Cannon, of Saltwater,
and it is understood that the purchase is for
eastern parties. The bid of Mr.. Cannon
stands as follows:
Premium 2 $1,000 per cent. ..... 16,SOO
Eighteen days interest. .............. 1900
S61S 300
The result of the sale is regarded as a very
satisfactory one, and is certainly about as
good a certificate of good financial standing
as the city of st. Paul could ask for. Even
government four per cents. are not much
better. The significance of the fact that ou1
We per cent. bonds call for such premium
cannot be mistaken, and can be taken as an
unerring criterion of the estimation in which
St. Paul is held abroad.
The banking capital of st. Paul is to be
largely increased very soon by the establish
ment, by Mr.. Walter Mann, of new bank,
with 100000 capital, and the orginaza-
ion of the Germania bank with capital Of
100000.
MISCELLANEOUS.
Work is to be commenced tomorrow on the
syndicate block on the corner of Seventh and
Cedar streets. The building will be 1875 feet
front on Seventh street, four stories high. Il
will be grand addition to that part of the
town as we'll as ornamental.
The new German bank has purchased the
American house, corner Fourth and Waba
shaw streets, for $25, 750.
A. B. W1lgus has sold to Mathew Ellis the
east half of lot 4, block 5, st. Paul proper
for S13,0 900. This property is located on the
south side of Seventh street, between Cedar
and Minnesota streets.
j. P. Gribben has sold to Thomas Cochran,
Jr. and others lots and 2, block 3, Dayton's
addition for 100000. This is on the west
side of Broadway, between Nash and Thir
teenth street.
The old Brewster house, on the southws
corner of Robert and Sixth streets, has al
last been moved off and workmen have com
menced breaking ground for the new cham
Der of commerce building that is to be erect
ed on that site.
John Marty is to build three-story brick
block of stores between Willius and Kittsor
streets on Seventh.
r IL.