St. Paul daily globe. [volume] (Saint Paul, Minn.) 1884-1896, 1888-03-18
| PATRIARCH'S WORDS.
Capt. Peter Berkey Addresses the st.
Paul Real Estate Board.
REAL ESTATE HERE IS SOLID.
The Venerable Banker Advises ALI to
Salt Their Spare Cash in
Corner Lots.

At the regular meeting of st. Paul real
estate board yesterday morning reports
were received from the various special
committees and Capt. Charles S. Bunker
was elected a member. Several large
sales were reported as made during the
past week by members, and some large
ones promised for next week:
Capt. Peter Berkey was present and
made the following remarks:
Il cannot talk TO you much. I re-
ceiyed an invitation to come here and
nothing was said about talking. am
not much of talker, but by the way, 1
came here thirty-five years ago. Money
was worth then from 3 to per cent. [
loaned money at that time at per cent,
and paid per cent for it. All my spare
money-all had above what was re-
quired to carry Oh my business was
in the iron business put in real estate,
and some men claim that / am among
the few men who do not believe in eX-
tending credit to real estate men. If
there is any one thing [ believe in more
than another, it is real estate. [ have
real estate to-day that has paid me more
than 5 per cent per month from the time
L purchased it until now. l could have
loaned that spare money at per cent,
but preferred to put it in real estate.
Now if there is any one thing that has
helped the growth of st. Paul, the per-
manent growth of st. Paul, it is nom
resident investments, and it is to those
men who years ago made wise
and judicious Investments fOr
non-residents that we owe large per-
centage of our success. Sell property
to WORCESTERSHIRE can talk for you
abroad. There is not anything more
legitimate than a real estate transac-
ton. l don't mean booming up and
having nothing to boom. You have got
good real estate to-day than bank stocks.
/ am one of that kind of men who be-
lieve in buying and holding. That way
of thinking, l am afraid, does not i'm
prove the agents business. l say put
all
YOUR SPARE MONEY
into corner lots if you can, want nom
residents to buy property. That's what
helps us more than anything else. Of
course we have laid out good deal of
territory, but you can realize how rap
idly we have to grow, for the reason
that we are railroad center. There is
not man in this room who can cor
rectly estimate the amount of property
that is required for railroad purposes
here. There is no railroad man who
can anticipate-nO man has made his
calculations large enough for railroad
purposes. Our railroad men don't know
to-day how much room they will need
for their business. | have known some
thing of railroads for a great many
years. | built the road from here to
Saltwater and Hudson about seventeen
years ago. The city was up in arms be-
cause l wanted four tracks down then,
when they now have thirty or forty.
A gentleman said to-day: We must
That is, if we have no ''boom."' That
means we double our population in ten
years, and that's no growth at all. We
have not commenced manufactur-
ing yet. Chicago. Cincinnati, st. Louis:
l can remember when there was no
manufacturing done in either of these.
We shall grow as fast as any of them.
that is, these two cities. This is fact,
and L do not think any man, if he will
stop and think moment. will gainSay
it. What is to prevent your real estate
from growing better? Further, there is
no city in the United States of the same
population, to say nothing of our pros
poets, in which you can buy real estate
nearly as cheap as you can in this city.
| have correspondence from all of our
prominent cities, and tell you these
are facts, and you gentlemen, or any
one who has travelled around, can vouch
for this yourselves. All | can adj
wise you real estate men is, to do your
business just as much on the square
l.
just as legitimate business and should
be carried out on business principles.
Gentlemen, have no speech to make.
Ali | can say is, you have got a good,
legitimate business; push it in legiti-
mate way"