St. Paul daily globe. [volume] (Saint Paul, Minn.) 1884-1896, 1884-07-20

REAL ESTATE.

LOCATIONS. many nave Haue purchases, solno
have not and some are getting ready to buy. AS
to prices there have been no changes at all. The
same frmness in figures prevails that has char
acteriZed the market all along through the sea
son. There is no moderation whatever. On the
contrary the tendency, Notwithstanding the dull
ness of the market, is towards higher prices.
Unless there should come very great stringen-
cy in the money market and panic all around
no one need to look for lower prices in real
estate than those now prevailing. The city is too
large, and is growing too fast for prices
generally to recede except perhaps in some out
side property, in undesirable parts of the town.
Possibly in such localities there may be de-
cline but it will not be sufficient in amount to
materially affect the market
The experience of the past ought to furnish to
the people of St. Paul lesson. Those who
have lived here for years have seen this city
grow from a very small, isolated town, to quite a
large city They have seen the real estate adj
vance year after year with a sure and steady
step. The little lull and all the embarrassments
that have occurred have been temporary in char
acter and alter q short time have
given way 10 still further advance in
the value of real estate, and great improve
ment in general prosperity. Prosperity has
beat the set backs we have had.
As an illustration of these remarks it may be
stated that twenty years ago Judge Hale paid
S28, 600 for sixty -four feet Third street, run
ming through to Fourth street on Jackson. He
paid 1900 down and the rest he paid out Of
the rentals He built several years ago three
story brick block on Fourth and Jackson, out of
the rent of the property and out of the whole
| no has nj nj 5000 ono.
and the property is worth over $500, 900.
Another case in point is that of John Wann.
1t but few years ago that what was
known as Baptist hill lifted its tall crest above
the six story blocks in lower town. 1t covered
the space between Jackson, Fourth and Sixth
and Broadway streets and its highest point was
about Fifth street near Smith park. Upon the
top of this hill was dwelling house known as
the Burbank place. This house was twenty five
or thirty feet higher than the store of Noyes
Bros. & Cutler the corner of Fifth and Sibley-
and the highest point of the hill was very near
this spot. sloping to the south it crossed and
blocked up Fourth street all along where the
store of Holl and Paar is, so that Fourth street
was not open to travel at all. This was but
few years ago, not more than five or six. At
that time Mr.. John Wann commenced to dig
Wacouta. 1t was slow work aud
took long time to make much of an impression
upon it, When he first commenced the unusual
opinion throughout the town was that Mr.. Wann
was doug an unwise thing. This was not the
expression used by the people at all. That form
of expression consisted of just two words, but
it would not be polite to it here and so it is
omitted. Mr.. Wann kept at work. He had an
in &c and he bod i,,h
Judgment, which was that all that part of town
where that hill was, was naturally and necessar-
lily business property and required for business
Immediately. He kept at work, and the public
continued to repeat its little speech about Mr..
Wann. The latter dug out the hill
and erected a block The block rented
the HILL and put up another block. That rented,
too, and so he kept on cutting out and building
up, and the public finally concluded it was ne
cessary to revise the judgment about Mr.. Wann.
The hill is now pretty much all removed, and
large business blocks are built there. These
facts mentioned, mostly for the reason that
they have all occurred within a very few years,
and are within the memory of almost every one
in st. Paul. They demonstrate the wants and
necessities of the business people of st. Paul,
and serve to illustrate how valuable real estate is
here. These blocks that have been erected on
the side of that sold Burbank hill' rent readily
for good prices, and there can be no doubt they
will continue to rent go long as there is
city here. They all occupy
good business location and must necessarily be
in constant demand. On this property, that cost
John Wann, only few years ago, $4,000, and
which was considered SO undesirable, is now
worth 100000.
The growth and prosperity of St. Paul is indi-
| Gated to certain extent by the banking capital
and the new bank buildings within the city. The
amount OF banking capital in st. Paul was refer
red to week or two ago and the figures were
! given infinitely. These showed that st. Paul had
more bank capital than all the other parts of the
state combined. As matter of curiosity these
! figures are given again as follows:
Capital and surplus of st. Paul
| banks, State and National. . So, $40 f32 90
! Capital OF all other banks in Mime
sofa combined. ................. 6,OS5, $50 90
| Capital of St. Paul's National banks
] Nae 81 ~nn m