St. Paul daily globe., 1888-01-29
THE EMARKET.
A More Lively Tendency Notice.
able OH All Sides.


able OH All Sides.
The general tone of the real estate
market is much more satisfactory than
it has been for many weeks. The fact
that there is such good and growing
demand for inside property at top prices
satisfies everybody that there is no trou-
BILE about st. Paul realty and that it is
daily improving. Sales have been made
during the last two or three weeks that
leave no reason whatever to doubt as to
the values in st. Paul. Actual sales,
and especially actual cash sales, tell
their own. story and irrevOcably fix
prices, leaving no room whatever for
question. Within the period of time
named sales of inside property have
been made here at prices never before
equaled in the history of the city. These
sales, it will be noticed, were made dur
ing period when the market was dull
and very quiet. The announcement of
the prices paid was a surprise to all.
Every one supposed that much smaller
prices would have to be accepted. When,
however, purcha sers went out to feel of
the market they found that they could
not beat down prices or secure any de-
slrable inside property at less figures
than had been previously asked. This
fact was revelation. An interesting
question arises right here. If inside
property cannot be bought except for
higher prices than ever before paid,
how long is all other property to remain
stagnant and unstable? 1t does not re-
quire very learned man to answer
this. Notwithstanding the apparent
dullness of the market, good many
quiet sales have been made all along
through the winter. Men of means
have taken advantage of the apparent
dullneSS in the market and have
SECURED A GOOD DEAL
of choice property, out of which they
will make very handsome profits. 1t
was mentioned several weeks ago that a
syndicate was formed that had at that
time for some weeks been engaged buy
ing good deal of realty between John
street and short distance above the
Seven corners. Ali the way from $500
to $700 was paid per front foot. The
whole proceeding was very private, and
good deal of good property was picked
up. During all the time since the banks
shut down loaning money for real es-
tate business, which had the effect of
putting stop to dealings in real estate
in st. Paul, the market has all along
maintained a bold front, and prices have
UCcll JuSt dts LII Ill lOI dill lllSltlG property
as they even were at any time during
the active times last spring. When the
banks did shut down, it seemed to set
every body to thinking, and all seemed
to believe the first thing to be done was
to pay off the mortgages. During the
last six months this has been the
principal object of holders, and, as
has been stated in the GLOBE,
very large proportion of the delayed
payments have been settled up. One
firm in st. Paul few months ago
held 100000 in mortgage paper. To
day this firm holds less than $500 of that
paper. All but this trifiing sum has
been paid up. This single fact tells
the story. The ability to meet their
mortgages, and in many instances to
anticipate them, gives the most indis-
putable evidence of the ability of peo-
pie to meet all obligations and to hold
their property firmly up to market quo
tatiOnS.