St. Paul daily globe. [volume] (Saint Paul, Minn.) 1884-1896, 1888-01-15


heretofore been rented to one tenant
have been subdiyided and will hereafter
be rented to two or more, thus doubling
or TRIPPING the rent.
~
There is really no point to which at
tention can be directed where weakness
in the real estate market and general
business can be discovered. Wholesale
dealers have had a very prosperous
year. The business area has has been
extended, and during the year business
ever before, and gathered in BUSINESS
from points that have never heretofore
been reached. Collections have been
very satisfactory. 1t is difficult to see
why under such circumstances the pieS7
ent year should not be more prosper
GUS one than st. Paul has ever had.
Nm
Notwithstanding the severe cold and
the very deep SHOWS, there is good
deal OF inquiry for property. The .ari-
Gus offices report considerable more pm
quiry and some more sales than during
the month of December. Several bay
ers desiring improved business corners
are willing to pay high prices and all
them.
During the present month some capj-'
talists from New York city will make a
large Investment here for the purpose
of building very fine and expensive
structure. Negotiations are in progress
also with different parties, some resid
ing in st. Paul and some elsewhere, by
which it is probable that some very val
liable property will be owned by new
parties before the snow goes Off. In all
these negotiations parties are not con-
templating the purchase of costly prop
erty to lie idle for mere speculation,
but for imir ediate Improvement.
M
The fact is that all of the best build
ingS in the city are occupied and are
paying handsome rentals. The Ma
has not vacant room in it, Union block
is full, the Davidson block is pretty
nearly filled. The Globe building is
filed with tenants, and as fast as
new structures are erected. with all
modern improvements, heated by steam
and lighted by electricity, there are
tenants to occupy them at good rentals.
Most of these buildings are paying per
cent net on the cost of the entire prop
erty, and in fact per cent on a fair
valuation of the ground as it would sell
now. With most of these buildings the
ground was purchased at much lower
figure than ground is held at in the
same locality at the present time.
~
Cars on the cable line are not yet run
ming. 1t was buried out of sight by the
first snow storm and has never been
resurrected. although there was suffi-
cient digging which disclosed the fatal
slots, and which cripples, on an average,
one Or two horses day. 1t is conf
IDENTIFY expected now that, if the ice and,
snow disappears in the spring, this
road will be in successful operation by
midsummer, but tide management de-
clineS to make any predictions Oh this
point.
~
Recently some inventiona and dis
coverieS have been made in steam which.
it is alleged. will Superscede the cable
lines and will ultimately take the place
of horses and street car lines. The new
motor is said to be noiseleSS and smoke
less. and no visible steam escapes from
the motor to brighten horses, OF to be an
annoyance in the public streets. This,
however. requires verification by actual
tests, which it is said will be made early
the coming spring. If steam can be
utilized to draw the passenger coaches
on the ordinary street railway, and is as
economical as represented, lines will
be quickly pushed into the suburbs and
the midway district will soon be net
work of transportation lines, leading to
development which will be marvellous
in its rapidity and its magnitude.
~
On East Seventh Street in the direc-
ton of the harvester works, and be-
yond, there is great suffering for want
of transportion, and a line of this kind.
would lead to the construction of a
large number of the cheaper class of
residences.
. The market at present looks very,
promising for great activity in the,
months of February and March. ALL
local buyers are securing such prop
erty as they can control, and are look
ing for considerable competition, es-
pecially in the district adjacent to the
cable line.
The real estate board held an unusu-
ally interesting session yesterday morn
ing during which addresses were made
by MessrS. Hazard, Read, Davidson,
IngerSoll, Fairchild and Moore. Com
mitttees were appointed and some eX-
cellent work laid out to be done in the
near future.