St. Paul daily globe. [volume] (Saint Paul, Minn.) 1884-1896, 1886-01-03

In Mid Winter the Activity In Trade Still
Continues in an Unexpected
Manner.
A Belief That Local Capital is Being In
vested to a Greater Extent Than in
Other Years.
Syndicates Formed for Laying Out,
Plating and Selling Suburban
Town.
The Newport Scheme--Recordso OF the
Last Week Of Iss5--Build-
ing Record.
The Review.

To the surprise of most people, the real
estate market still continues active, not.
withstanding the fact that it is midwinter,
when transactions usually become very linn
ed. Undoubtedly some of the deeds re-
corded are those of transactions commenced
some time ago, and just completed and
placed on record. The largest part of those
recorded, however, are recent transactions.
and are deeds that followed from natural
purchases, made without special effort On
the part of dealers in real estate. There is
but one explanation of this state Of affairs,
and that is that there is natural and legiti-
mate demand for real property. which is
not to be restrained, but keeps right on. IT.
respective of the season Of the year. There
seems to be
PLENTY OF MONEY,
and as nearly all Eastern capitalists have
gone home, it furnishes a pretty good
ground for the declaration that the citizens
of st. Paul themselves have at last begun
TO change their ideas in regard to the safety
and disturbances of real estate investments
in this city. One marked characteristic of
the people of St Paul has been their indif-
ference to this kind of investment. AT no
time have they taken kindly TO 1t. This
was not because they lacked confidence.
but because they are naturally conservative
and have other kinds of business TO attend
to, which require all their time. or at least
so much of it as to render it inconyenient
TO dabble with what they deem outside
matters. st. Paul dealers constitute a
pretty hard-headed class of men, and do
not spend much time wandering off after
strange fancies. The result. is, that one
outsider after another has stepped in here
no fxr-c
mOneyed men have been idle, Indifferent
and incredulous. Some of them think diff
ferently now and are Of the opinion that
THERE Is MONEY IN REAL ESTATE.
The result is that here and there one
may see merchant prince now taking a
block or two of real estate. One Of the
biggest dealers picked up block or two on
Dayton's bluff last week for $50, 600. That
he will make money on it there can be no
doubt whatever. 1t is merely question Of
how much and in how short time. Other
dealers have acted I'm a similar manner and
have had no cause TO regret their new de-
parture. A number of syndicates have
been formed for the purchase of real es-
tate, and in each instance the results have
been eminently satisfactory. These invest
ments have been made in different parts of
town, and wherever made the result has
been the same, so that there is quite
disposition among dealers to dip into
real estate somewhat more extensively in
the future than in the past. 1t was not
more than two or three weeks ago that one
real estate dealer was entrusted by a
mOnyed man in St0Paul with S37, 900 in
cash TO be placed on real estate, according
TO the judgment of the latter. The money
was invested within a few days from the
receipt of the order. and the property would
to-day pay handsome profit
SUBURBAN TOWNS.
One of the features of the times appears
to be that OF laying out, plating and sell
ing suburban towns. The wonderful sue
cess of Merriam and Union Parks has had
great influence upon the minds Of
the public. The example is a
good one, and organizations have
been completed to establish small
colonies just outside the city limits on some
line of railroad. This brings pretty strong
influence to bear to make the scheme sue
cessful. 1t first has the personal influence
Of the syndicate. and i'm the next place has
that of the railroads, which is very import
ant indeed. The railroads are anxious. of
course. to build up the town. for the more
people there are along the line of the road
the more business there is and the more
wealthy the community becomes Last
year they commenced in good earnest to fit
up and complete st. Anthony Park, and
now it is one of the loveliest spots in Min
nesota. The results at Merriam and Union
Parks established the fact that there was
money in this kind of property and that
small towns could be established six or
eight miles from the city and made success
full in all respects.
THE NEWPORT SCHEME.
One OF the latest proposals of this kind
is the proposition to build a suburban town
at Newport Those engaged in this are
Henry c. James, g. E. Dickerman and o.
Green. They have accordingly bought what
Is known as the Irish farm near Newport.
1t is said that the land lies very adyanta-
geous. about seven miles and half below
the city, sloping gradually to the river. The
sum paid for this ground of about 400 acres.
together with another tract of land, was
$4,000. 1t is proposed to lay out the
grounds and plat them in such way as to
render this last suburb of st. Paul the most
attractive of all. 1t has been intimated that
the Milwaukee and Burlington roa,ls will
favor the plan and afford all the colonists
their united aid to build up the town and
make it what it ought to be.
AND STILL ANOTHER.
Five other gentlemen have united to
build another suburban town i'm West ST.
Paul, about four miles below the riv er on
the route of the motor line. These gentle
men are Charles Fallen, Frand p. Blair,
Lewis Arbogast, j. G.. Stein and Z. c.
Varney. These gentlemen have secured a
large tract of land, had il plated into lots
40x125 70 twenty-fOot alley. This prop
erty is bounded by Blair avenue on the
south, Polk avenue on the north and Wind
sor avenue and Concord street. The par
ties owning this have already placed it on
the market and sold several blocks of it.
This will be very desirable place for res
licences. 1t is on the motor line, and
brings the new town within very few
minutes of the city. 1t is reported that
there are several other projects on foot Of
the same character.