St. Paul daily globe., 1889-06-24
MITCHELL IS COMING IN.
It Has Taken Time to Get Ready and
Means to Have the Capital.
ITS REAL ESTATE OPTIONS
Are On Property Far Below Its True
Value as Compared With Other
Towns.

- ''e~-
Towns.
Special to the Globe.
MITCHELL, S. D., June 23.-While
other towns have been wasting their
energies on premature capital booms,
Mitchell has been resting in the back
ground, alive to her interests in form
ing connections which will be of advan-
tage to her in the coming contest, and
in preparing literature which at the
proper time will deluge the country,
and inform the masses Of the people of
South Dakota, as to the many points of
vantage Mitchell possesses over all the
other aspirants as the best and most ac-
cessible candidate. The necessary plans
have nearly all been cOnsummated, and
in due time the capital committee will
begin waging determined, aggressive
and energetic campaign for the capital.
At the last meeting committees were
appointed to investigate the chances for
three railroad extensions from this city
one southwest, one northeast and the
other northwest. 1t is confidently be-
lieved that at least one of these roads
will be fact before the summer flies.
The finance committee reported that
the amount subscribed to the capital
fund alone by citizen of neighbOrlng
town. which. by the way. is a capital
candidate, was over 5000. This SwellS
the amount of actual cash subscriptions
to over $4,000, which, with the valua-
BILE real estate options offer ed, will give
Mitchell a
CAMPAIGN FUND
whose working amount will fall but a
little short of 100000. The options on
real estate offered the public is one of
siders winning card. These options
are offered through a method the best
yet devised by any of the capital towns.
They are based on present prices of
realty in this city, which are now from
two to three times lower than in the
other capital towns. The holder of an
option on real estate in Huron, Pierre
and Sioux Falls, would reap but little
benefit from his investment, should his
choice of the towns named be selected
as thdeapital for the present prices of
real estate in these places are far above
their normal value, and their being
chosen the capital would scarcely have
any effect in raising values, whereas.
the investor in a Mitchell option would
reap results most satisfactory for boom
incident to Mitchell becoming the
capital-would double and treble his in
vestment before the present prices in
the cities named would be reached.
One of Chicago's wealthy real estate
dealers, while in the Office of Prescott
& Smith, one of our real estate firms, is
quoted as follows relative to real estate
in Mitchell: Il am of the opinion, after
a somewhat careful examination of the
values of real estate in Huron, Aber-
deem. Pierre, Watertown and Sioux
Falls, that your values are too low on
all classes of business property; in fact,
they are away below those of the cities
named. Business lots in your city, now
situated in the cities mentioned, would
be considered
SNAP INVESTMENTS
at $4,000, 5000 and $4,000. Many peO-
pie do not seem to appreciate the favor
able resources backing your city-fve
lines of railroad, no rival towns within
SO to 100 miles, Offering rich field
for jobbing houses, and rich surround
ing agricultural country. This failure
to appreciate your city as place for
profitable investment has had the effect
of keeping prices below anywhere near
their real value. However, the rapid
development of the farming country
which is going on around you will
shortly be the means of bringing on all
advance which will open the money
market in your midst, bring on boom
and many new enterprises and i'm
prOvementS. l am aware that
there. are several cities in the
DakOtas ahead of you in population and
wealth, but there are none which have
the natural advantages that you have,
and which, if properly cultivated, would
place your town in the front rank very
shortly. In short, am of the opinion
that your prospects are the brightest of
any South Dakota town that know of,
for none of the cities have yet visited
have any more of an appearance of
solid prosperity and good prospects
for the future than Mitchell" The SEN
the many expressions continuously re-
peated on all sides favorable to this
city. Our people are confident that the
future will bear out the predictions of
many that she will yet become
THE CAPITAL CITY
of this commonwealth commercially, as
we'll as politically. 1t is we'll known
that property in Mitchell has not yet
passed through boom, nor are there
many heavy transfers, yet the inquiry
for choice investments is medium brisk,
and it is evident that many sales will
take place in the next few months.
Many who have heretofore avoided put
ting money into Mitchell real estate are
now on the search for cheap property,
and are quietly buying all of this class
that they can get. 1t is safe to say that
the investments thus made will dOub-
lie in value within a few months.
There is considerable activity in the
building line. Many handsome res
licences and cottages are going up in
different parts of the city, the new uni
versity building is we'll under way,
buildings for the electric light plant
400 incandesent lights of sixteen-candle
power and four arc lights-have been
completed. Mitchell will thus in
short time be one of the best lighted
cities in the Northwest. In short, the
activity going on in all lines of business
is one of the hopeful signs on which
Mitchell bases her hopes for the future.
II ely Upon Platt's Chlorides