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

The past four months have been the
quiet period of the year 1887, and the
transfers have shown a great decrease
over the preceding months of the year.
but the city is growing steadily. Plans
are being matured for large building
operations for the. ensuing year, and
there is general feeling of confidence
which extends not only to real estate
dealers and agents, but to the business
men of the city generally.
-
The completion of the cable line from
st. Anthony hill down Fourth street to
Broadway, and its opening for traffic, is
matter of the near future. Of course
the line at present is INSTRUCTED by the
heavy snowfall and the opening
will be delayed by experiment.
ing necessary before opening it
for traffic. When the line is once
opened for paSSengerS,it will cause an
activity and hustle on Fourth street
which that thoroughfare has not wit
messed for many months. The property
in the vicinity of the road, or at the
eastern terminus at Broadway, is likely
to be equally benefited by the opera
ton of this new system of transporta-
ton. Broadway will be the point on
which parties will cOngregate to take
the line that comes from north of
Seventh street or east of Broadway, and
this will give that part of the city new life
and activity. \ good many deals are in
process of negotiation for the early
months of 1888. If the proper sites can
be secured the result will be the cree
ton of some very fine business Struc-
lures that will add greatly to the metro
polltan appearance OF st. Paul.
1t is somewhat singular, too, that sew
eral parties who have been negotiating
for sites on which to erect buildings
have made offers of all cash for the land !;
In fact, it is we'll known that some par
lies who are able to buy and are anxious
to buy certain properties have waited,
hoping for decrease and hoping that
ready cash would secure reduction in
prices, but the owners of centrally To-
gated business properties are not willing
% shade the figures heretofore placed
lpOn their properties, and all cash does
not seem to be any more of an induce
nent than the ordinary terms of one
Third cash and the balance on time at a
reasonable rate of interest.
~
A visit to the office of the building in
spector shows that there is in cOntem-
platiOn very considerable amount both
bf business houses and residences for
The year 1888, and while he hardly ex-
poets it to surpaSS the magnificent rec
5rd of 1887, he is quite confident that it
will equal the record of the year just
:losed.
A number of extensions of street car
lines were made late in the season; too
late in fart IN Uiva much of on imnatuc
10 building on or near the new lines,
but now that they are in active opera
HOn, it is expected that next season will
show large Improvements in the way of
residences upon or near these eXten
siOns. Hardly any one is willing now
to construct home which is not within
reasonable walking distance of some
transportation line:
The actual operation of the cable,
when it begins, will undoubtedly cause
an immense improvement on st. An
thOny hill and its near vicinity. The
saving of at least ten minutes time
each way to the business men, who will
use it largely, means in the aggregate
vast saving to the patrons of the line.
Many citizens who have heretofore been
deferred from building on st. Anthony
hill are now ready to build in the vicin-
ity of an established, permanent line,
such as the cable is considered to be.
~
A good many of the younger agents
In the real estate business have sought
other employment for the winter. Some
of them have left the real estate bust
ness permanently, but tn older real es-
tate agents who have an established
business, and who have been through a
number of what men called ''hard
times" feel greatly encouraged to think
that their business will be as good next
year as it was during the year just
closed, and some of them anticipate con-
fdently that it will be mnch better.
~
The year 1888, upon the whole, will
open with most favorable prospects, and
in every direction there is a confidence
of an onward movement that will make
it an active, prosperous year, and they
all feel safe in predicting that it will
not fall behind the year just closed,
either in the aggregate volume of bust
ness transacted by wholesale houses or
in the amount and value of real estate
transfers, and they really expect to see
1t far surpasS any preceding year.
THE RICE STFEET DISTRICT.