St. Paul daily globe., 1888-01-29
SNUFFING SPRING.
The Alert Dirt Dealer Already Discerns
Its Approach.
SPRING OUTLOOK DISCUSSED.
No Boom, But Healthy Business Antici-
pated---Market Gossip and
Opinions.

With the moderation of the weather
and the near approach of balmy spring,
the anxious lines of doubt and care that
have marred many real estate mans
noble brow the past sixty days are rap
idly disappearing ,and their usual cheer
full dispositions are returning with all
the vivacity and vigor characteristic of
approaching fray. They all prophesy
that the winter of their dis
content has passed, and they can
feel the vernal breezes of spring
blowing through his Whiskers." But
during the interval of sunshine and
storm, incident to this latitude, the i'm
pOrtant and self-evident truth has been
evolved, to the effect that Minneapolis
has never had boom; the values of her
properties have never been inflated, but
Oh the contrary have scarcely kept pace
with her remarkable and unprecedented
growth. 1t is an absolute fact, uncOn-
tradicted, that the business and inside
residence property of Minneapolis is
great commercial centerS of the coun-
try. But the general opinion is that
values must go higher in certain local
tiles, and by the first of April or
May it would be no surprise to
witness general advance in values all
along the line. The growth and devel-
opment of the Northwest materially
benefits Minneapolis, and while Mime
apolis has become self-sustaining, yet
it is like a large stream being greatly
augmented by the accession Of numer-
Gus smaller ones. and the more develop
ment there is in the country tributary
fn nj ND
more rapid the growth. The in
dications are that acre property
outside the city limits will not be adj
vanced, for the price it is now held at
is all it is worth for either gardening or
farming purposes. A few injudiciOuS
parties invested largely in outside acre
property few years ago at unreaSOn-
able prices, and it was but short time
before they found themselves in the
same unfortunate dilemma of the boy
who ''bit Off more than he could chew"
This occurrence will not occur again,
as experience has been profitable
school. why" SAID one dealer, when
asked to give his views OH the prospect
i've rise of values, ''lOOk around and
notice the gradual increase of property
and then see whether Minneapolis dirt
is profitable investment or not" In
confidential tone he said: ''Take Oak
Grove and adjacent streets, Lowry'S
hill, out as far as KenwOOd and the
lakes, and not lot can you buy
for less than 25 per cent, and in some
instances Is per cent over, what you
could twelve months agOH' This is
true" says Mr.. Ragan, very reliable
dealer. ''Lots in the vicinity you name
could have purchased year ago for
almost SO per cent less than can to-
dau WhUt onntipna1 Mr. Paran
''when sold T. B. Walker his lot near
Mr.. Wells place last year, he thought it
was an enormous price, but when he
was offered nearly as much for the rei..:
eighty feet this winter as he paid for the
entire piece he realized that he had
bargain" A great many trades have
been made the past week and a number
of cash sales, although the tide of buSi-
ness is not expected to come in before
the first of March.
Marsh & Bartlett have sold since Jan.
Sal 200 worth of property, including
the Travis block and eighteen lots in
Calhoun addition for $50, 600; two lots in
Chicago Lake Park addition for $500;
and one lot in Motor Line addition for
81 $50.
Mr.. harrington, with the above firm,
is entitled to considerable credit for
making the sale of the Travis block for
$105,000. And while the price may
seem high, to a great many, yet the
rents derived from the property yields
9per cent net upon that valuation.
The city purchased certain property
on Fifth street last year where Emery'S
livery stable stands, and the general
suppOSition is that an elegant five-floOr
central fire headquarters will be erected
thereon the coming season.
Little & Wilson sold the past week
the large block on Third avenue north
for 1882, 900.
OPINIONS.
j. B. Tabour-Regard market quiet,
but in very healthy condition, and look
for prices to materially advance when
season opens next month.
Peehtes & GOuld-Prices at present
appear firm, with numerous inquiries,
Mr.. PEBBLES, who has been in IlliInos
the past two months. says great many
inquired about Minneapolis property,
| and intend coming up i'll the spring to
make investments.
Jones, Mcmillan & Co.-Market will
Don't expect any boom, but good,
healthy growth.
Hutching & Co.-Don't know of any
place where a more judiciOus invest
ment could be made than in Minneap-
oils. Great confidence exists in all in
side realty. We have plenty Of in
Quiries.
n. III. Emmans, large property owner
tributary to Lake of ISleS-LOok for a
greater development next season, if all
improvements contemplated are carried
out, than we have seen at any time
within the past two years