St. Paul daily globe., 1886-01-17
ST. PAUL REAL ESTATE.
Sales of Real Property Continue to Keep
Well Up to Top Prices With No
Weakening.
There Seems to Be General Disposition
to Buy Up Outside Acres and
Start Suburbs.
Some Business Men in ST. Paul Who
Have Never Before Bought Prop
erty Now Buying.
The Review.

The Review.
There is no special occurrence or fact in
the history of real estate transactions in
this city calculated to change or vary the
story that has been related every week this
winter There is, however, one incident
connected with the market that Is notice
able to those who have charge of the
records. 1t is a well-knOwn fact that 10
newspaper men and real estate dealers that
a very large proportion of the real estate
transactions of this city are not made pub
lie. That is, they are not published in the
lists given To the papers daily. This was
the ease all last season and continues 10 be
so now. 1t Is thought by those competent
TO Judge that not more than two-thlrds OF
the deeds recorded are published. That is
to say. one deed out OF three is suppressed.
This suppression has been considerably in
creased this winter, so that now there is a
larger proportion of the transfers held back
from the public than ever before. This
phase Of the matter is the curious part of IT,
Why is this? Is everybody loading mp for
the spring? One thing in this connection
is certain, and that is that a considerable
number of the citizens in St. Paul are buy
ing real estate for the purpose of making
money on il. This has not been the case
heretofore. They have all along refused 10
engage in this kind of business and have
hardly ever, heretofore. been persuaded to
put any money into it. They have set
down quietly and seen outsiders come here
AND GET RICH
while they have remained quiet and at
tended to their wholesale merchandise busi-
ness. This was probably the correct busi-
ness view of the matter i'm one sense. 1t is
probably better for a business man in a
general way TO attend closely TO his own
business. This is undoubtedly a good.
fundamental business idea, but while our
dealers have held firmly to il they have let
a good many opportunities slip for making
money that outsiders have come in here and
taken advantage of. This course has been
somewhat broken in upon lately, and dur
ing last fall and the present winter some of
them have bought considerable real prop
erty. This disposition is not general by
any means. and probably never will become
universal. as il would not be considered
quite legitimate for business men To dabble
in real estate. Still there are opportunities
to invest surplus moneys in real estate in a
straightforward business way, where the
transaction is properly considered not as a
speculation, but as a good and safe invest
ment.
ACRE PROPERTY.
There is a widespread desire at the
present time for acre lots. and that. too, for
large tracts sufficient for town sites. a
short time ago it was mentioned that MI.
James and others had purchased a large
tract OF land near Newport, where it was
intended to plat and establish town on the
line of the Milwaukee Il ST. Paul and the
Burlington d Northern railroads. a few
days later it was announced that Mr.. w. ID.
Miller had sold to certain parties another
large tract of land directly south of the city
of st. Paul about four miles. where another
town was to be founded. This town site
has been plated and large number of lots
have been sold from il, and in several in
stances whole blocks have been taken by
parties. Now the fact comes out that what
is known as the Smith farm, three miles be-
low the river on the line of the Minnesota
& Northwestern railroad, containing 270
acres. has been sold to a syndicate consist
ing of DIR. Bryant. A. f. Clark and others.
The intention is to have the same plated
as rapidly as possible and sell it out in lots
and blocks, with view of furnishing lots
near the city at reasonable prices. But
these plats are on the line of the
Minnesota q Northwestern railroad, and
the authority of the president of that
road is given to the effect that motor line
will be put on and that trains will run both
ways as often as the requirements of the
people residing there render il desirable.
The price paid for this 270 acres was $780,
600. One hundred and twenty lots in Kav-
anagh d DawsOn's addition on North Mis-
sissippi street. near the junction of Como
and Phalen avenues, recently plated, has
been sold to another syndicate for S12, 5OO
l., nv
show what is coming. This simply proves
what was indicated in these columns last
week. The city has grown so large so
quickly that inside property is too expensive
for the man of moderate means TO hold as a
homestead, and the poorer class of people
are necessarily compelled to seek for
cheaper homes by going outside. Certain
sharp business men see this. and have gone
outside to the various points indicated above
and have purchased these large tracts of
land with a view 10 plating them and make
them suitable and convenient for the labor
ing man and men generally of small means.
To render this scheme successful these SUI
burban homes must be on the line of some
railroad so that the laborer can get into the
heart of the city in time to commence his
labors at the time fixed in the morning and
when he gets through his work at o'clock
at night he must have the means to get
home quickly. These can all be furnished
by the railroads. and the managers of the
roads. seeing thrifty future for the roads in
this kind of business, readily join hand
with the syndicate men TO promote the plan
by furnishing such facilities for quick and
convenient transportation as may be re-
quired. and such as will enable all to come
to the city and return home just when
necessary. This can be accomplished on
any line of railroad running into the city,
tine same as it has done at Merriam and
Union parks. Among the most interesting
and pleasant of these syndicate, or subur-
ban towns. is st. Anthony Park. In this
park the German-American Real Estate and
Improvement company has bought from J.
r. McMurran fifteen acres. This tract is in
the north part of the park and cost 81, 200
per acre. The following are the directors
and officers of this syndicate: Matthias
Koch. president: j. B. Pugsley, secretary;
=. NJ. .Kerst, o. E. Holman, J. i. Beaumont
and S. L. Dean are the directors. The cor
pOratiOn has just been organized. and by
going to St. Anthony Park the managers OF
it have shown their good judgment, for it is
one of the finest and most attractive addi-
tions that has been made 70 the city. 1t has
beautiful wide streets. and will soon become
one Of our most important suburbs.
Miscellaneous.
The Harvester Works company, which
had the old harvester works under lease.