St. Paul daily globe. [volume] (Saint Paul, Minn.) 1884-1896, 1888-04-01
ST, PAUL REAL ESTATE
Record of What Has Been
Done During the Past
Week.
Some Good Sales Reported on
Upper or West Seventh
Street.
Very Active Inquiry in Re-
gard to Property in Mid
way Heights.
Another Dry Goods House
Negotiating for a Lot to
Build On.

Ole part Oh Tie week JUST ClUSeu. euu tiio
fact that no business was done on Good
Friday, the whole drift and tendency of
the week in the real estate line was ia
vorable. The business of the week GER
tainly showed up quite satisfactorily
and was such as to indicate that, with a
little pleasant weather, there will be a
marked increase in the general business
of real estate throughout the city.
-
While trade has been dull for several
months, there has been no weakening III
prices nor has there been any general
crowding of property upon the market.
Those who have had realty to sell have
been perfectly willing to wait and hold
their property till time should bring
such demand as would warrant sale.
In other words. the seller has all along
stood in such position as to be able to
hold for better prices; and it is just III
this way that the Sharpers and skin
fiints that have been waiting to eaten
lame ducks have been beaten. The
lame ducks have not made their ap-
pearance.
x <
The result of all this is that the mar
ket opens strong and vigorous and with
unusual steadiness. Many think that
in some parts Of town prices are too
high and that there is consequently no
longer any money in real estate. Here
is lust where moneyed men are making
the same mistake that they have made
many times i'll past years. People who
think that prices are so high that they
will not 90 higher ought to sell out all
the real estate they have and then re-
frain from buying any more. Those
who hold this opinion ought to
take lesson from Chicago, st.
Louis. and other large cities. The
truth of this matter is that these
two cities. Minneapolis and st. Paul,
are but little more than just beginning
to grow ard their influence and power
felt Evidence of this can be found in
the extracts published in the GLOBE
during the week from the Chicago pa
pers in regard to the effort made and
the disposition manifested on the part
of some of the railroads to prO-rate from
New York to st. Paul, and the vigorous
objection made by the board of trade of
Chicago. The point in this matter is
the fact that these two cities have come
to be of such importance that Chi
cago to-day fears them. Their
location with reference to the whole
business world on this continent, and
the influence they are bound to have in
business matters in the Northwest, is
completely admitted in the extracts re-
ferred to. This being the situation
now. what will 1t be in ten, twenty or
thirty years from this time? Is it posi-
bic that any one can doubt that property
here will in that time increase In value
three or four fold? The result is, that
those who invest here to-day will see
their holdings increase in value in the
future pfeciselyas they have seen realty
increase in the past.
This is no fancy talk. 1t is simply
the recitation of what every one who
has ever watched the growth of
prosperous, thrifty people, favorably
located with reference to business,
has seen. 1t is not to be expected that
ST. Paul should fail to have its proper
share of croakers. 1t comes naturally.
All large cities have them. But, not
withStandng this class of people, the
commercial prosperity and the pre-
destined growth of the city goes right
on Just the same, just as though no
such people existed. Notwithstanding
what they say, many of them will live
to see the highest-priced property now
in the city sold for a great deal more
than it is now held at.
The South st. Paul Loan and Build
ing association has been organized and
the following officers elected: PreSi-
pent, j. Ii. Lawrence; treasurer, q. III.
oft A n
ganiZati0n is now in regular business
trim.
Messrs. Bushnell & Bushnell repre-
sent that there has been considerable
activity in town. They have been at
work good part of the week with
syndicate of Canadians, who have been
here for the purpose Of selecting desir-
able business property. The party
unanimously settled upon Seventh
street as the most prosperous and prom
Using street in the city. Of course, it is
difficult to obtain property any
where along the line of that
street just where person may de-
termine to buy. On this street
the purchaser is compelled to take what
he can get. These gentlemen looked it
over" from one end to the other and
finally bought two lots in the vicinity of
Forbes and Ramsey streets on Seventh,
and will erect thereon two stores as
soon as the plans can be completed.
These stores will be either four or five
stories high and of red brick with stone
trimmings. Not being able to get any
thing at any price on Seventh street
below Wab asha that was desirable, the
Canadians concluded that West Seventh
street above the Seven corners pre-
scented the next best part of the street,
and so bought up there. They argue
that a large growth in population is
going on all along below the bluffs on
the west. and the river Oh the south and
east and above the Seven corners. The
price paid is hot made public.
Messrs. Bushnell Il Bushnell are also
negotiating for a lot in the vicinity of
Minnesota and Seventh streets on be-
half of couple of gentlemen from New
Jersey, who have come to st. Paul with
a view to locating here and establishing
q retail dry goods house. This firm will
carry stock of S150,000. If this deal is
brought to favorable conclusion, these
gentlemen will erect large and elegant
dry goods house that will add much to
the business prosperity of the city.
="
For some unknown reason a very
lively demand has existed all the week
for property out in Midway Heights.
Diligent inquiry has failed to discover
what is going on in that vicinity.
1t is, of course, well known that
last year the Minnesota Transfer
people commenced work on plans
that contemplated very extensive
changes and improvements in regard to
their tracks. warehouses, spurs and its
business generally. 1t is very well
known that these extensive improve
mems were not completed at the close
of last season, but will be this year. OF
course. such an expenditure of money
would naturally have its effect on the
value of property all through that sec
ton of the town, yet this would hardly
account for the steady call for lots in
Midway Heights that has been observed
during the past week.