St. Paul daily globe. [volume] (Saint Paul, Minn.) 1884-1896, 1889-07-21
IT'SVERY UNSETTLED
That About Expresses the
Present Condition Of Real
Estate.
Business Hinges Largely on
the Building Of the New
Lines.
Small Holders Find Difficulty
in Meeting the Big
Bonus.
Spectators Are Gobbling All
Likely Property Along the
New Routes.
The real estate market is on the qui

The real estate market is on the Qul
Vive.
Realty dealers, property owners and
prospective purchasers are looking to
the outcome of the proposed additional
city transportation. 1t is some weeks
since the news was heralded of two new
electric motor lines and an extension of
the Selby avenue line into the Midway
district. Beyond the bare announce
ment and the enthusiastic expressions of
confidence from interested parties in
the three lines, nothing definite has
been done. There has been plenty OF
talk-wind, if you like-and solicitors
for subscriptions have covered the city;
but yet no one exactly knows the pres
ent situation Of atfairS-whether all the
bonus required will be raised. The
raising of the bOnuS-S250, 900 for the
electric motor line and 100000 for the
cable line eXtenSion-cannOtb be done at
a moments notice. 1t is true that a
very considerable portion Of the money
has been promised, but there is more
wanting, and it is from that class OF peo-
pie who can spare it the least. The
property owner, rolling in his millions,
can afford to SubSidiZe a company to
build a street railway; but the strug-
Cling WOrkingman, having his monthly
payments to meet, cannot see 1t III the
same light; and it is here where diff
Guilty will be experienced by the pro-
iectors of the three lines.
There can lie little fault found with
the business done in realty the past
week. There have been many good
sales effected. but the market is little
uncertain while these projected in
creased transportation schemes are in
an embryo state. Property holders
along the route are holding on to their
lots with a view to obtaining better
price, and the bare thought of good
snap makes the real estate man more
than ever impOrtunate in his desire to
buy up likely pieces OF lots Tor invest
ment PURPOSES All this has an unset
Ting effect upon the market, and there
is no hope for an improvement until the
schemes before the public are definitely
decided upon. In other words, when
Mr.. Lowry has got his bonus and enters
contracts for the laying and equipment
of the lines.
The question of locomotive power for
street railway purposes has all lmp0r-
tant bearing on the realty market. A
line equipped with quick and effective
motor power is far ahead of the print
tive horse cars. Evidence of this is Suf-
fcient in the East Seventh street cable.
Under the horse car regime realty on
DaytOn's Bluff was sluggish, but the
inaugural of the cable system has given
such an impetus to the sale of real eS-
tate in that portion of the city almost
unprecedented. Values have increased
by 80 per cent, and on some exceptional
lots by 1C0 per cent. Where time IS
money, and in city covering so great
an area. the question OF rapid transit
should not be overlooked. 1t has
been allowed to be dormant too
long. but now when public
to the subject the abolition Of the horse
car system is but question of time.
The system is too old; it SmackS too
much of the primeval days and not of
the busy nineteenth century with its
great inventions in the sciences. But
for the foolhardy policy of locking up
the streets of the city to one company,
diverting from the people the treasure
which is rightly theirs, and cutting off
their locus Standi, the present condition
of street transportation would never
have been tolerated. 1t is simply dis
grace to the city of the size and grow
ing Importance of St. Paul, that the
mayor of Dubuque, TO-. can say that
that city possesses better street trans
pOrtatiOn service than this city.
The partial breakdown of the PrOSser
motor is regrettable in that it delays for
several days an adequate. test of the
power of this engine. Col. j. Ham Da-
wilson is confident that the motor will
be found equal to meet the heavy street
grades; and if this be clearly demon
strated, there are many advantages to
commend this means Of transit above
the electric motor. with its overhead
wires and other Objectionable features.
Mr.. ProsSer anticipates that the motor
will be finally tested this week.
Among the most important sales dur
ing the week are the following: w.
Markoe to ST. Paul Brick Manufacture
ing company, lot 8, section II, stoWn %,
range %, $4,000; J. J. Watson to NJ. E.
Bement, part lot 6, Summit Court, 500
900: l.. Nj. Bliss to n. Gilbert. lots in
Topping's subdivision, s14, $50: G. 1,
Warren to j. G. Walker, lot /, block 6,
Hoyt's addition, 100000. While among
the building permits there were: DR..
r. G.. Nelson. tWO-StOTy brick tenement,
Viola and Rice, $4,000; A. d. Hewitt,
two-story frame building, Langford,
near st. Anthony, $1,000; Charles Lind
burg, two-story brick building, Edger-
ton street, $1,000: H. H. Schultz, two
story frame dwelling, Isabel, near Bel
lows, $1,000.