St. Paul daily globe. [volume] (Saint Paul, Minn.) 1884-1896, 1885-05-31
The Active Movement in Real Property
Continues With Great Promise
For the Future.
West St. Paul Stirred Up With High
Prices and Hoping For Further
Advances.
St. Paul the Center of Business in the
Northwest and the Finan-
cial Leader.
Capital Coming in From the East + OF
Investment in Large
Quantities.
TbeC,tv,s Prosperity.

OIn6 oNclI6iN61t III w SSG Ot. l.
WEEK or two ago it got out that the rallroad
waited to secure a considerable tract OF lana
for epot and other purposes, and immedl-
atel1eyervbody that owned land over there
on th fiat began to prick up his ears ana
put icreased values on this property. The
rai1rod succeeded in getting considerable
pOrtiQ of the real estate it needed, but by
that tine the secret was out, and then val
ues Want up with great rapidity. Lots that
befOr were worth but few hundred dol
lars Suddenly hada value of as many thou
sand put upon hem. The fever ran so
high and became so yirulent that the rail-
road company stopped short and said: I'VE
will not pay such outrageous prices. We
will proceed to coidemn and leave it to
the courts to fix reasonable compensation
for the value or your land" Since that
lime considerable property has changed
lands in that locality. Mr.. II. s. Fair
child sold two lots in that locality for $500
each that in 1873 cost Inn $50 each. He
disposed of these lots at lhis price as he did
not wish to stand in the way of public inn
provements They would probably have
brought more if he had held on to them,
but he thought he had made enough out of
The investment and so let them go.
GETTING INTO MARKEE.
Everybody in West ST. Pau is struggling
70 get into market. The WestSide addition
Of sixty lots and the CharlotteL. Butler adj
dition of sixty lots, both additions to West
st. Paul, have been plated and the plats
have been place on record i'll Dakota county
by A. B. Wilgus & Bros. These additions
adjOin the city limits back Of Brown &
Tacksons additions. In this connection it
bay be mentioned that A. B. WilguS &
BIOS. have made a cash offer for large
building running up to about $4,000, but
Rs yet the contract has not been closed.
The offer is made for an Eastern party.
They also sold the half block on Fairfield
avenue, between Custer and Starkey streets,
Tor S22, 900 cash. besides nearly S6S, coo of
other property they have sold since We'd
lesday, causing their sales for the past
week to amount to about S125, 900. There
no doubt that for week or ten days
tere has been remarkable degree of ac-
tfity in the real estate market in West ST..
Pull and that prices in that locality have
mreaSed with marvellous rapidity.
his may be illustrated by the fact that
Ontdealer sold few days ago eight lots in
Wei St. Paul flats for ST, 900, for which,
in 1q1, he paid S25 each. He also sold
lot 1.-THE same locality for 81, 200. 1t is re-
porte that nearly half the levee property
has canged hands privately in the last
few dtrS. An offer was made of $4,000 for
lot n the levee in West st. Paul which
was retsed, the owner holding it at Sc, 600.
ALL AROUND THE. CITY.
Whllehe part of the town known as
West St.Paul has been booming at such a
rapid rattduring the past week., it must be
UNDERSTOOD that the remainder OF the city
has not ben idle. The public improve
ments that re being ordered are very eX-
tensiye, moi so than ever before witnessed
in st. Paul. The magnitude of the total
works is something startling, and will cause
those unacQuahted with the necessities of
the town to be aStoniShed. The building
extends to the srfreme eastern and western
limits OF the city, md there seems to be no
end OF the new buildings that are making
their appearance IL every direction. The
steady and rapid ghwth of the town is at
tracing capital hereand daily the real estate
dealers are receiving application for buildings
suitable for manufacturing purposes. Yes
terday morning befOn o'clock Mr.. Fair
child was applied to by gentleman from
the East who wanted t get a four or five
story brick block suitabA for a syrup refin-
cry establishment. The gentleman repre-
sents large house in the East which has
branch establishment in Kansas City. This
is but one example out of hundred. The
city of ST. Paul to-day occupies such COM
handing position in the finacial and mer-
camille community that it is overrun with
just such applications as the ole referred to
above. The impression thai one forms
when he comes here is that 1t. Paul is a
thriving, busting, growing city, that
is breaking away from all its
bonds and spreading out in all
directions. The stranger beholds immense
siX-story bank buildings taking the Place of
the plain old buildings used five Yeas ago:
Seventh street adorned for five miles with
handsome three-and- four-story brick build
ings. Fourth street which five years ago
was occupied by bans and old shops. is
now covered with tive-and-SiX-story blocks
OF wholesale houses. Lower Third street
walled UP with five or SiX-story wholesale
warehouses. Robert street nearly built up
with business houses up to Seventh and
several new brick stores going up as faT up
as Twelfth street, gractd as it is with the
Ryan hotel and the chamber of commerce.
and so Oh all over the city wherever one
goes. On Dayton's bluff watch few years
ago was very scantily supplied with houses.
now covered far back, even out into
McLean's addition; West st. Paul, i'll
hundred to over Il, 600 population; the
beautiful st. Anthony hin covered within
few years with the most beautiful resi-
dences in st. Paul, running all the way
from $4,000 to $3.50, 900; Merriam and
Union Parks, large and thriving villages,
where few years ago not a house was to
be seen. 1t is impossible to go through the
whole enumeration. Five years have seen
pretty much all the changes referred to
and many more. They are sufficient
30 excite the admiration of all. Resi-
dents, who have been South or East for six
OF eight monts are equally astonished at
the changes that have taken place during
their absence, and gentlemen who have
Travelled good deal do not hesitate to de-
clare that st. Paul is growing faster than
any town in the United STATES.
THE BANKS OF ST. PAUL.
AS any one can see, a city growing as St.
Paul is must necessarily have large bank
ing capital, and that is just what she has.
The banks Of ST. Paul carry the trade of a
larger scope of country than those of any
other American financial center. The nat
ural requirement to this end is the concen-
tratlon here of comparatively enormous cap
ital. With these facts in mind the reader
will learn with less surprise that the re-
sources OF the national banks of Minnesota
greatly exceed those of Wisconsin. Texas.
Colorado, Maryland, Missouri. Kansas. Cal
fornia, Georgia and twenty other states and
territories, while they nearly double those
of California, and are twenty-five times
greater than those of Mississippi or Florida.
The resources of the national banks of st.
Paul alone, to say nothing about the bal
ance of the state, were on Jan. 1, 1885.
SIG, 0S1, 1862, against SO, $50, OO6 for the
whole state of California, S11, 1854, 631 for
the state of Kansas, and SO, 1873, 935 for the
state of Georgia. These figures tell their
own story. Men do not accumulate large
amounts of money in hanks and than LOT e