St. Paul daily globe. [volume] (Saint Paul, Minn.) 1884-1896, 1888-07-22
ST.PAUL REAL ESTATE
A Decided Renewal Of Conf
denee in Real Estate
Matters,
Owing Largely to the Repeal
OF the Three-Cent Fare
+. Ordinance,
Dayton's Bluff Receiving an
Apparent and Permanent
Real Estate Impulse.
Eastern Capital Sent to st.
Eastern Capital Sent to st.
Paul for Investment
in Property.


tivity i'll real estate matters. The best
that the week has shown is an average
amount of transfers and the usual in
quiries. There has been a revival.
however, of confidence during the week
that has strengthened and given tone to
the market, which is at least 25 per
cent better than it was a week ago.
There have been no large transactions
in realty calculated to excite enthusiasm
or raise expectations. So far as sales
are concerned they have about held
their own.
Several matters that are outside of the
real estate market. yet indirectly con-
nected with it, naturally have an i'm
portant influence upon it. The princi-
pal one was the repeal of the Scent
clause in the charter of the cable COM
pany. Its effect upon the market was
instantaneous and was felt like cur
rent of electricity all through Dayton's
bluff.
That section has been so neglected
since the organization of the city that
the people over there at one time be-
came pretty well settled in the idea that
neglect was continued up to three or
four years ago, when p. H. Kelly. Mr..
Pugh, George w. Sherwood. l.. E.
Reed, the Bohn Manufacturing com
| pany, Mr.. Lawrence and many others
who reside on the bluff organized
| union, held weekly meetings and passed
resolutions embodying their views as to
what improvements ought to be made.
The affairs of what was then the Fifth
ward began to improve, and from
that time Dayton's bluff has grad
ually and steadily attracted more pub
lie attention. With its beautiful, broad
avenues, long, well-graded streets, the
extension of the water works, gas,
sewers, sidewalks, the whole region for
! miles back of the western brow of the
| bluff presents picture that will aston
| iSh citizens of st. Paul who have not
| been there for some time.
~
All this has been accomplished with
| in four or five years. Now, however,
something has been done by the
| council that will result in more benefit
| to the bluff than all that has been at
tempted hitherto. The repeal of the three
cent clause practically secures the con-
struction of the cable car line on the
East Seventh street line. With that
| of the city, far and wide on each
side OF it the population and general
prosperity will increase.
~
Already the indications of what the
| effect will be is to be seen in the in
creased prices all along the route. Of
course, the results will be more immedi-
ate directly on Seventh street, and
gradual increase in prices will widen
out on both sides until the whole bluff
is covered. The company has declared
that work will be commenced within
sixty days and that the line will be COM
pleted by the first of next August.
Many parties who thought of building
on East Seventh street, but have been
delaying to see what was going to be
done about the cable line, will now go
ahead. Those who have been dickering
about buying property to improve out
in that direction, will have to increase
their offers. Prices have gone up since
the last meeting Of the council, and
nearly all of the realty on both sides of
the line is now from Is to 20 per cent
higher.
Dayton's bluff is one of the principal
parts of the city in wealth and popula-
ton. In these respects the bluff is
three times as big as the whole city of
st. Paul was in 1860, and has three times
a much population.
~
In the opposite part of the city, on the
west an effort is being made TO run an
elevated railroad. There is consider
able opposition to it, which comes from
variety of sources. The friends of
the road claim for it that it is cheaper
in the first place and that after it is
built it does not cost near as much to
run it. 1t is asserted by them that
there is no place in the world that offers
such inducements for building an ele-
waited road as the territory between
Minneapolis and ST. Paul. Besides this
they predict immense advantages for
the two cities, both within the heart OF
road. They claim also for it that it
will do more to build up the intervening
space between the centers of these
two towns than all other means
combined. Railroad communication,
they say, is cumbersome, and
stoppages can not be made
often enough to accommodate people as
they ought to be. These people further
argue that i'll business point of view
| these two towns are one; that every
railroad that comes to St. Paul must
necessarily go to Minneapolis; that
while the two will never be united I'M
der one municipal government, they are
daily growing together, ana are bound
to become practically one. This being
| the case, they say the cities ought to
have Immediately the same kind of
easy, ready, quick transit that they have
within each city by means of the street
| cars.