St. Paul daily globe. [volume] (Saint Paul, Minn.) 1884-1896, 1884-09-28
Spectators Confident that the
Sales will Continue
Brisk,
But the General Fall Trade is to
Decide the Matter Either
Pro or Con.
The Low Tax Levy Approved and Adopted
at the Last Meeting Of the
City Council,
Considered as Great Help Towards the
Future Developments of Our
Great Metropolis.

estate market during the past week than
there was during the week preceding, though
the aggregate amount of transactions for the
period first referred to is not greatly in
creased. More buyers have been in the
market, and good deal more property has
been shown to those inquiring than during
any week for some time. Dealers in real
estate, while they do not look for what is
generally called boom either this winter or
next spring, do expect that the transactions
during the winter months will be numerous
and steady, and that during
the coming spring sales will be
very active. This opinion is based partly
upon the appearance Of things now and the
condition of trade, but mostly upon the con-
fidence people seem to have in the great SOL
idity and steady, active and continued
growth of the city of St. Paul. Its increase
is so natural and inartifcial that the condi-
ton and the business appearance Of the city
speaks its own advantages. The simple
truth of the matter is that it grows and in
creases because it cannot help it. 1t could
not stop if it would. Year after year it breaks
over its boundaries andits population spreads
and additional communities and centers of
trade spring into life and activity. So year
after year the borders of the city are ex-
tended wider and wider, and more territory,
more people and more business are yearly
added to the domain of the city.
There is another consideration in relation
to the subject that might be referred to, and
that is the low rate of taxation that prevails
here in St. Paul. 1t has been reported by
the comptroller and established by the action
of the council that the tax levy in st. Paul
for city purposes shall be H. so mills for the
year. The comptroller naturally feels like
congratulating the people of the city upon
the result. or course, with a new city of
over 100000 inhabitants growing rapidly,
and consequently compelled to begin at the
beginning, and build up its school system,
its police department, water works, fire de-
partment, and the thousand other institu-
tons that are indispensable to city the size
Of st. Paul, it would naturally be expected
that the expenses of running such a city
must be very large. This expectation has
been full justified in this city. Its growth
has been so rapid that the
expenses of establishing and building
up the institutions referred to instead
of being distributed over long series of
years have come, as it were, upon the city of
ST. Paul at once. Young as she is, her school
buildings are as large and as expensive as
are similar structures in the east, where the
cities are two hundred years old. Yet at this
moment the city of st. Paul is scarcely thirty
years of age. We have accomplished here
upon the banks of the upper Mississippi,
within third of a century, what it has taken
four times as long to accomplish in the east
OF course, the founding and building
up Of city of such mag
nitude in such comparatively q short
period has been more burdensome than it
would have been had the outlay been distrib-
uted over a longer period. That under such
circum stanees the tax levy can be kept down
to 11.50 mills is fact that is very gratifying
to the officers of the government, and fur
nishes the taxpayer perfect rapture of de-
light. The effect that such levy has upon
the credit of the city abroad need hardly be
referred to, for it suggests itself to everyone
instantly.
The matter Of rents has long been troub-
lesome one in St. Paul, and so far as can be
judged is likely to continue so for some time
to come. A great deal was said and
written upon this subject last spring, and
yet the matter presents to-day more serious
aspect than it did then, and furnishes less
hope for relief. More buildings have been
erected within the city limits this year than
during any preceding year, and yet there is
a greater scarcity of them than ever before.
The prime demand of this city to-day is for
large number of dwelling houses, the ma
jority of which should be such that they can
be rented for $25 or $50 per month. The
lack of such dwelling houses is a great mis-
fortune to the city of st. Paul, and
no doubt is the cause of great
many people going elsewhere to locate 1t
would be a great deal better for the city to
have surplus of houses rather than this in
convenient scarcity.
There is a popularity about the real estate
market this season that is remarked by all
dealers, and that is the disposition TO make
large cash payments, leaving as small an
amount as possible to put into notes and
mortgages. This is the general rule, and il
indicates that there is much. more money
among the people than many are
willing to acknowledge, and also
that people are more disposed
to put their money into st. Paul real estate
than into stocks and other securities.
But little can be said about the structures
now in course of construction. Most of the
larger ones will soon be under cover and all
are well along owing to the good weather
we have had.
Among the sales of the week was a piece
on the west side of Robert street, between
Fifth and Sixth streets, 5Ox15O, for S1a, 600.
The purchases viii unite with the owner of
the adjoining 80 feet in erecting a hand
some business block next season.