St. Paul daily globe. [volume] (Saint Paul, Minn.) 1884-1896, 1886-07-11
ST. PAUL REAL ESTATE.
Business in Real Estate Keeps Steadily
Along Without Much Variation,
Andis Firm.
The Suburbs Around the City Rapidly
Filling Up and Property In
ereasing in Value.
New Stations Being Erected all Along
the Lines CT the Railroads
Everywhere.
West st. Paul Looking Sharply After
Her Interests In Sewers and
Street Grading.
The mer stackup.

The Summer Stackup.
The preparations for the Fourth of July
and the completion of the plans arranged
for that day interfered good deal with the
business of the city and somewhat curtailed
the real estate transactions. Aside, how
ever, from the effects of the Fourth, the
market itself lacks that activity that has
characterized it for these many past months
and sales are good deal restricted. The
boom element has no location here. BuSl-
ness of all kinds in st. Paul is now and al
was has been conducted on sound, conserva-
tive principles. When the line is approached
that marks the division between safety and
doubtful experiment. general disposition
manifestS itself to go slow, to stop and con-
slider whether or not safe business prin-
ciples warrant any farther progress in the
direction proposed. This characteristic Of
the people of st. Paul is one of the prin-
cipal causes of st. PauFS solid standing in
the financial world. This element of safety
which accompanies and forms so large a
part of all the city's business transactions is
counted upon abroad as well as at home.
This is always observable when our bonds
are offered Oh the market and the low in
terest at which they sell, as well as the
ttliAlCly tJbI ID always ltdiiLCoSCo w OuJ
them, shows that the city of st. Paul has
credit and standing in the financial world
that is founded on rock and cannot be
shaken. 1t is rot and never has been
city of booms, either in real estate or any
other purchaseable commodity. This is
one of the reasons why there is not more
activity to-day in this department. Last
winter and very early in the spring large
purchases of real estate We're made, most of
which was in acre lots. People saw that
ST. PAUL WAS GROWING RAPIDLY,
and they accordingly put their money into
real property with great iiberalIty and a
degree Of confidence that did not leave
open any chance for doubt as to their be-
lief in the rapid and continuous growth of
the city. Available acre property was
bought up in every direction with a view Of
laying it out in additions to the city and re-
failing the same in building lots. The
prospects of the city were so promising
and the chances of making money were SO
numerous, that an immense amount of
money was put into this kind of property.
No one who went into the scheme has
failed to a good deal more than
double his money. This property SO
purchased, lying upon the outskirts
ofthe city, has been brought into the
uldlheI dIlu lids SOlu very Idpluly. 1uG
result of this has been that the area of the
city has been largely extended, lots in these
additions have been sold at such reasonable
prices that poor people and those who if
not poor but are in such circumstances that
they desire to husband all their financial
resources, have been able to secure to them
selves comfortable homes at reasonable
prices. These homes, too, are so located
that the owners of them can go and come
easily and quickly. This in large city is
a very great consideration. Take, for in
stance, Merriam Park. A man doing bust
ness in ST. Paul can go home, get his din
ner and be back in his place of business
within one hour from the time he left his
place of business, He cannot do that on
any street car line in the city though he
goes not more than One-third the
distance to Merriam Park. Let any man
leave the Ryan at - o'clock at noon, and
he cannot go in any direction on the street
cars two miles. get dinner and return i'll an
hour. He might possibly succeed once or
twice, but he could got do so regularly.
He can go from the point named to Merriam
Park and return as mentioned every day in
the year, in that time. AS it is in regard
to Merriam Park. so it is in regard to
MANY OTHER ADDITIONS
which have been laid out along the lines of
railroad so that they are easy of access.
There is one other consideration that is
being developed by this utilizing of subur
ban property, and that is the building up
of little sub-toWns all along the lines of the
various railroads that diverge from
this city. These little towns like
Merriam and Union Park make it
necessary to have little depots built
for the accommodation of the people who
travel to and from the heart of the city.
AS it is on the Milwaukee & st. Paul short
line, so it will be on the north side of the
city. At Hamline a large settlement is
going in. where there is already a station.
At Smelling avenue there is another, at st.
Anthony Park another, and so on all
through to Minneapolis. At each of these
stations are gathering an excellent class Of
people, who are daily and gradually in
creasing their wealth. Each one Of these
places is hive of industry, a good neigh
borhood. constituting a very prosperous
community, which, while it is really part
of the city of st. Paul, it is really a town
and community by itself. AS the city
gradually grows out to these little
localities and abSorbs them they will
came to be part of the center Of the city
almost before they know it. This is to be
the result of the real estate projects of those
who early last winter and all through the
spring, were buying up such large amounts
of real estate. All these outlying acres
that were SO purchased will. in a few years,
be reformed and moulded into part of the
city ITSELF which is continually spreading
and
WIDENING ITS BORDERS.
The people OF St. Paul have seen much
of what is referred to above accomplished.
They have seen the wooded acres and the