St. Paul daily globe. [volume] (Saint Paul, Minn.) 1884-1896, 1884-08-10
st. Paul Being the Financial
Center of the Northwest.
And Also Its Railway and CONNER
cial Center.
The City and the Value of Its Real Estate
Both Increase Fast.
Some of the Costly Buildings of st. Paul
Transfers During the Week.

The condition of the real estate market has
undergone no change since our last report.
While prices continue firm sales are only moder-
ate. 1t is not season of the year when sales
are expected to be numerous Some eastern cap
tal is gradually and continually being invested in
ST. Paul realty, and the usual number of people
are looking around, inquiring and examining
property In these August days people much
prefer to visit the lakes and the eastern watering
places to hanging around the hot and dusty
streets of ST. Paul watching the real estate
Offices. The consequence is that everybody
seems to be travelling, and the railroads are hav-
ing their hands full. The Northern Pacific road
is having a large number of excursion parties
going to the Yellowstone park, and the Pacific
coast generally. 1t seems to be favorite route,
and the trip is long and interesting one, full OF
curiosites that continually attract the attention
of Ill tourists. The st. Paul 81 Manitoba road
has also large amount of travel over it to the
great wheat fields and the lakes, and this reminds
us to say that the railway system of the north
west, of which St. Paul is the acknowledged cen
ter. embraces 1851 miles of road, of which g.
37S are in Minnesota 1t employs "a, 153 men,
-, Gil of whom live in Minnesota, mostly in st.
Paul. Ten trunk lines run into the city, and
five more 10 or from this place are now building,
and yet five more roads are extending their lines
towards st. Paul. Daily 1854 passenger, and o5
freight trains arrive at or depart from this city
There are railroads in seyenty-three Of the
seyenty-nine counties of the state. In 1882 there
were added to the st. Paul roads 1919 miles,
costing S25. 1886, 500. Their local improvements
in 1882 cost $500 000 in 1888, 81, 1913, 900. Rail
freights received, / 492, 80 tons; forwarded,
79S, 597 tons. Here are the headquarters, cost
ing $1G5, 900, exclusive of grounds, and principal
terminus of the Northern Pacific, and most OF
the other roads centerng here, all of which have
large shops iu this city, ana are eagerly graspin9
for more ground for their future operations. Il
is fairly presumable that ten years from now, thi:
will be even greater railroad center than Chi
cago. Of the II 900 miles added to the railway
system of the Union in 1882, 1900 miles belong
to the st. Paul system.
THE FINANCIAL CENTER.
Besides being the railroad center of the north
west st. Paul is also the financial center, 1t il
very natural that this should be so. There are
number of facts that combine to make it neces
sary that it should be, 1t is the head of naviga
ton which insures to us a sure way of putting
check upon high freight rates. We have seven
| teen steamers plying between ST. Louis and al
other points on this great highway of traffic
making 1873 trips, which carried to and from here
%, 300 tons in 1888. Yearly the government j
spending millions to improve the river, and sooI
| it will be the greatest transportation route GU thu
| continent Between it and the great lakes, onl.
| 100 miles distant, st. Paul can never be curse(
with high freight rates. Besides this great rive
our railroad system is so vast that freights an(
I headquarters of all great manufactures and en-
| te.prses of every character naturally come here
to the center to do business, while banking cap
ital stops here in the same way in obedience e
! the law of gravitation. That the banking
| capital of st Paul exceeds il
amount the banking capital of all the rest o.
| state combined is fact thUt surprises no one
conyer-ant with the immense business interest.
Of ST. Paul. Capital goes where there is bushes.
to be transacted. The purpose and use of money
is to multiply itself, and the only way to do this
is to keep it moving. Capital fees from a stag
| nant point rs people do from a plague infected
spot, and hurries away to place Of activity, in
dustry aaG hustle. St Panl now, in her compar
alive infancy ranks a. the ninth in the country
with six national hanks, whose resources arc
SIG, 935, O96, only S373,S1S less than st. Louis
next in rank above, ard SS94, 1862 more than New
Orleans, next in rank below. As a fnancia
center, it is developing more rapidly than any
city on the continent, snd within ten years vii
be surpassed only by New York and Chicago
Her national banking capital alone is 80 per cent
greater than tina. of the whole state Of Californi;
or Kansas. In 1888, it was increased 81, 500, COO
more than the increase in any entire state in the
Union, excepting Illinois. Average deposits il
s. Paul National banks, 1870, 81, AK, 921 in 1888
SI1 S97 SOL In addition, there arc four state bank.
with capital of $3.50, co., and two private banks
BUILDING \ CITY.