St. Paul daily globe. [volume] (Saint Paul, Minn.) 1884-1896, 1885-06-28
Two Big Auction Sales During the
Week show What Dirt
is Worth.
The Review.


This idea is not one that prevails IN the
minds of a few men, but is universal among
all residents. and most firmly is it rooted IN
the minds of those who have been here the
longest and know the most in regard to val
mes It is admitted that with failure OF
crOns. a visitation of the lOcustS or grass
bonners or some other great calamity, the
values of real estate in the suburbs would
he considerably reduced This reduction,
however, would be but temporary, and
single wear of prosperity among the farmers
of the Northwest would reinstate prices.
FAVORABLE LOCATION.
ST Paul has singularly favorable loca-
ton. She is at the head OF one OF the most
splendid waterways in the world, with rail-
roads radiating to all parts OF the country,
surrounded with the richest and most last
ing soil in the world, and what is OF still
more inheritance. away up in the North
west is the valley of the Red River OF the
North. running through a farming region
that is absolutely unsurpassed IN richness
of soil and its capacity for the production
of the most valuable wheat known to the
world. Want of space forbids going any
deener into the reasons why st. Paul is one
of the most favorably located cities in the
universe. ANY one can readily understand
that with all the agricultural resources that
surround her. and the boundless extent of
territory stretching out into the West and
Northwest there is the best OF reason Tor the
people of this city and those coming here to
come to the conclusion set forth above as to
the fixed and unchanging values OF real eS-
tate in st. Paul.
WELL DISTRIBUTED.
Prices of real estate in ST. Paul are well
and evenly distributed, and, considering
tu no TllOS
others in respect to money-making, prices
are very moderate indeed. far below those
of other cities The highest prices are in
the heart of the city, and on those thor
oughfares where the best and most prosper
Gus business is transacted. Here, natur-
aIIy. and necessarily, values are
higher. simply because of the 10
cation and the chance offered
to make money. A location where 50, 600
wear can be made is twice as valuable as
location where only $4,000 can be made
in the same time. This is substantially the
rule by which values are fixed in st. Paul.
There are no fictitious and fancy values.
The purchaser pays for what he gets and
gets what he pays for. This system OF
establishing values here, and the fact that
large portion of the wealth represented IN
the city has been accumulated here by resi-
into business and improvements here, are
lust what give St. Paul its well-earned
reputation for s6lidity. In other words
of large business blocks on Third, Fourth.
Fifth. Seventh, Sibley, Robert, Jackson
and other streets have been erected by
home capital. by money that has been made
here in the city, and not by foreign capital
at high rates of interest. If, therefore
hard times press upon the business public
and merchants, dealers and capitalists are
much better able to weather the storm than
they would be if they were compelled to
fight against the foreclosure OF mortgages
and all the other inconvenience and annoy
ances incident to the money-bOrrowing sys-
tens reserted to by other and far less favored
cities than st. Paul. If hard times settle
down upon the country, instead of being
compelled to borrow money at high rates of
interest to meet obligations and to save
property from being sacrificed and going
into the hands of the mortgage fend, all
our dealers have to do is to furl the sails.
curtail the expenses and scud under bare
poles till the storm is over, when they are
stronger and more firmly fixed than ever be-
fore to open up on even larger scale than
at anv previous time. In other words, St.
Paul is not paper town, but solid one,
with her bonds Selling at premium, with
all the moneyed institutions in the country
anxious to get them. Under these circum-
stances and conditions, it is not at ali sur
prising that holders of real estate should
hold firmly I'D to prices and be unwilling to
favor buyers by receding from present
figures
SELLING ALL AROUND.
The sales during the past week have not
been limited to any particular class of prop
10 location
the contrary, they have been all over the
city. and business, residence and suburban
property has all been represented in trans
actions. and each description has received a
fair share of attention. Property in West
st. Paul is still regarded with very great
favor, notwithstanding values there have
been considerably increased during the last
two or three months, and purchases are
daily made there at figures that six months
ago would have been regarded as wild and
visionary. The presence of the Minnesota
& Northern railroad in that part of the
city, the construction of its bridge across
the river and the work of erecting its ware
houses. depot, turn table, ETC., on the fiat
have transformed lots, in regard to values,
in a fabulous manner. Lots that formerly
were held at 5000, $500, $500 or $500 have
Jumped with one bound up to as many
thousand. It has also had the
effect of stimulating building in a remark
able degree and ON every hand are to be
seen in process of erection business blocks
three or four stories high, and business of
every kind is very active. Some of the poor
/. people who, few years ago, went over to
West ST. Paul for the purpose of securing
cheap residences, for the reason that it was
the only property in the city within their
limited MEANS and at the same time near
enough to the heart of the city to en-
able them to get to their work in the morn
ing. and who paid one or two hundred dol
lars for them, have now the satisfaction of
disposing of their little homes for several
thousand dollars. 1t can hardly be COM
pretended that the real estate in the region
spoken of, that few years ago was,so val
ueless, has come to be worth so much in so
short time.
OTHER PARTS OF THE CITY.
The advance on outside property is not
limited to West ST. Paul, but extends to all
outside real estate. Property all through
the region between the two cities has felt
the effects of the general rise and acres
near the city have doubled and quadrupled
In value, according to location Acres in
the vicinity of Hamline have advanced
from $500 or $500 to 81, 200 or SO, 900. at
which they are now held with great firm
ness. The work on the st. Paul d North
ern Pacific shops undoubtedly has a very
considerable influence in bringing about
this result. The property further out, near
the Minnesota Transfer, has been affected
in the same manner, and to the same ex-
tent, and there seems to be general rush
to put new plats in that region on the
market, and great things are looked for in
the immediate future for the whole
of that region, including Merriam and Union