St. Paul daily globe. [volume] (Saint Paul, Minn.) 1884-1896, 1885-02-22
1T is STILL IMPROVING.
Though Sales of Real Estate Are Not
Numerous There is Decided Evil
dence of improvement.
A General Scramble For Acre Prop
erty Between the Two Cities
And Around Como.
One Large Sale Of Forty-seven and Half
Acres and More Of the Same
Kind on Foot.

The general impression among real estate
agents and business men generally is that
when spring opens there will be great activ-
ity in the real estate market, and many think
that transactions will far suipass anything
We haze ever had in st. Paul. There is no
denying the fact that the Indications point
that way. Never at this season of the year
have INQUIRIES been so numerous for all sorts
of property, including business and residence
lots and acres, as they are now. Up to this time
, the sales have not bcen numerous. Ga the
contrary those that have been made have
been of small priced lots, and not many of
these. Even at this time sales are slow. But
as to inquiries there Is no end, and there
seems to he i grasping desire to buy in all
the acre tracts between st. Paul and Mime
apolis that can be got hold Of. All these
large acre transactions are negotiated pri-
vately, and the greatest secrecy is main
tanned in regard to the examination of the
titles, and all the negotiations pertaining
thereto. the purchases are made, often times,
through third parties in order TO make the
cOncea.mtnt all the more certain. As an
indication of how this acre property is being
picked up, it may be stated that one firm
here in st. Paul has purchased over $780,
600 worth OF propt rty in the vicinity of Como.
What the object of all these heavy purchases
is no one seems to understand, and all the
inquiries that can be made fail to discover
what it means. The gentlemen who have
ostensbly made the purchases-Messrs. Me-
Chung, Murran and Hager-it is understood
are either wholly or in part backed up By
parties In Virginia who furnish ut least
d portion of the means. 1t is certain.
however, that the gentlemen named have all
the money they want, and usually draw their
checks fora considerable portion of all. the
purchases they make. On Friday they closed
a contract with H. 5. Fairchild for the pur-
chase OF forty-seyen and .one-half acres
south and southeast Of Lake Como, at
5000 per acre, amounting TO $40, $50,
and paid down in money over So, 900.
They die the same when they purchased the
Aldrich farm, ana several O1ner tracts in the
same vicinity. A great deal of curiosity is
manifested as to what purpose the real parties
interested in these large sales have in view
just what this scheme is no one has been
able, as yet, to find out They have an eye
TO business, however, and know that i'm
along the line of the st. Paul Il Manitoba
road, even up to Min neapols. Tuese i'm
provemeuts are to be on an immense scale.
Tue st. Paul u Northern Pacific road alone
will this year put over s1,000,OO0 into its
shops, tracks, round houses, etc. just north
Of Hamline west of these shops n large num-
Der of dwelling houses is to be erected this
coming season, and the WORK of grading for
them is now being done. Fifty tLOu sand dol
lars worth Of improvements are 10 b. III dde on
the st. Paul wOrkhouse and hospital, aud
west of this not less than $l50,000 will be
expended this coming season on the state
fair grounds by the state and railroads.
From the eastern end of the St. Paul &
Northern Pacific railroad shops out 10 the
fair grounds there will be very great activity
in building, and very large sums of money
are 10 be expended in improvements. OF
course IL is very natural to expect that
large population will be gathered around
these various building operations, aud
it is surmiscd that these mon
eyed men fmm Virginia are engaged in
gathering in this large ainoant Of realty for
the purpose of taking advantage of the rise
in property. 1t has also been asserted that
they propose To improve on large scale
considerable part Of the property they have
bought, especially that near Como. 1t is
evident that the tract of country referred 10,
extending from the eastern end of the st.
Paul X Northern Pacific improvement 10 the
fair grounds, will be Il scene during the com
ing summer of very great activity, aud that
Immense sums Of money are t. be expended