St. Paul daily globe. [volume] (Saint Paul, Minn.) 1884-1896, 1889-12-01
MONEYED men MOVE.
Conservative Business Men OF
the City Are Heavy Re-
atty Buyers.
A Syndicate for the Buying
Up of Sixth Street
Property.
Street transportation and the
General Real Estate
Talk.
Randolph Street Electric Line
May Yet Be
Built.

the year ere he embarkS into other and
wider commercial investments. That
is how the opening of each year wit
nesses strong revival in trade, ana
the prospects are that with the initial
bow of 1890 St. Paul will witness great
boom in its realty. Every indication
points in that direction. Local moneyed
men are inclined to take up available
and likely property; there is just now
large quantities of Eastern gold stalk
ing around for investment purposes;
and the influx of people TO the city by
the holding IF an ice palace and the Ma
tioDal Educational association must nee
essarily whoop up the real estate mar
ket Hundreds OF the pee pie attracted
TO St. Paul by the ice palace and con-
ventiOn are certain To be lnYeIgied INTO
some investment. The general pre-
vailing prosperity of the city, its as
sured future and assured character of
its investments, are certain to
carry weight with the Visitory. Manly
Il. Curry is quite convinced on this
point. and as one of the best known real
estate men in the city. his opinion
should be worthy of attention. de IS
working hard for the success of the ed
ucatiOnal convention. and says he Is
doing so because it will be one of the
best things st. Paul has ever had. Ii
will bring over 10000 people into the
city, and, as Mr.. Curry somewhat
bluntly put il, lit is to our interests to
push this thing. There is money in it.
I am working for that anyway" SO
with all these agencies AT work, IL can
be readily seen that the outlook for 1875
Is very reaSsHriHg-
4 reaction has Sof IN anOnU the older
conservative men of the city. For the
past year or two they have done very
little in the purchasing of property. but
Just now they are buying up all likely
available lots about the city. There is
no tendency on the part Of own
ers to sell out, yet there are
numerous cases where some
men are compelled to part with
property so as to meet pressing flnan-
cial difficulties. 1t is in such an emer-
gencY that some of the most valuable
lets in the city ale changing ownership.
Nothing of a striking figure in the
transfer Of any lots has been filed the
past week, the sales being mostly con-
fined to lots Of an averaged value of
$1,000. The Midway district continues
to attract spectators, and the West
side Is also experiencing quite move
ment. The Broadway bridge being an
assured fact, has encouraged many
people to seq property in that section of
the city. There is not that wild rush
for Dayton's Bluff and East St Paul
property. which was so marked a few
months ago. The opening of the Sew
enth street cable was largely attribute
bic for the boom in that district, but.
until increased facilities for access to
and from the bluff are assured, il is
Il hot flaof of
city will increase in value much beyond
its present high water mark. And then
bridge across Phalen creek is an absolute
necessity on Sixth street. Once that
is gained added impetus will be given
to DaYton'S bluff realty. but not until
the br dyes of Third and Seventh streets
IRE incapable of coping with the re-
quirementS of the growing population
of that part of the city. and if additional
facilities for communicating with the city
are not secured, and quickly, too, popu-
lation will turn its head west and north
west rather than to the east, with its in
adequate and uninyiting means of
access. The Seventh street cable sup
piled l0ng-felt want, but it practically
destroyed the street for carriage pur-
poses; and Third street is simply
usurped with freight teams.
A strong syndicate is being formed to
buy I'D Sixth street property. With the
prospective improvements, not to men
ton its position, there is about it ali the
elements Of a good speculative invest
ment. The Strengthening of the street
and the erection of a bridge across
Phalen creek will come before the cOun-
eli the early part of next year; with
these improvements there is certain to
be heavy rise ia values on Sixth street.
Eighth street is also attracting no
little attention. A well known real
estate man yesterday remarked: when
such men as William Dawson, A. E.
Dlckerman ana the WilIius put their
money into property on any street. as
they have done on Eighth street, it is a
pretty sure indication that the street
has great future before it. They are
all acknowledged TO be not only con-
sentative men, but men who always use
the best of judgment in the selection of
property. and their investments have
always turned ont handsome profitS.''
Great as may be the prospects of Eighth
street, those of Sixth street are away
ahead, in that it is i'm the center of the
city and is surrounded BY transport
facilities TO and from every part of the
city.
The bonus for the Selby avenue cable
extension is being paid to Arnold Kali
man, the trustee, with a reasonable de-
gree of promptness. All the materials
for the construction of this line have
been contracted for. The avenue has
been graded to Merriam Park and from
Victoria to fairYieW has been wTdened
to eighty feet, the sewers have been
laid and the one thing required
before the line can be laid is a
bridge across the Milwaukee rail-
road tracks. Plans for the bridge
have been prepared and approved
by the board Of public works. simply
await the Endorsement of the council.
By the 18th of May or the 1st of June it
is expected that the extension line will
be in operation. Work on the Grand
avenue electrical line is progressing
very satisfactorily. The track has been
laid through to Cretin avenue. The
poles have been set east of Victoria:
west of Victoria the poles are all dis
tribnted and are beng set. The line
west of Victoria will have a single set
of poles instead of double set as is the
case east Of that street.
Despite all the talk of abandoning the
electric line on Randolph street, prop
erty owners interested in having the
line built are putting in some quiet work
towards securing the necessary boz US.
There is a general belief that once the
Grand avenue line Is operated the prop
erty owners IN the Randolph street dis
trict VIII see the absolute necessity of
the line, and will contribute the neces-
sary bonus for its construction. If the
line was built, property in the district
opened up would be doubled, if not
trebled, in value.
There was no lack of money in the
market the past week at rates of from
to per cent, according to the amount
Of loan and the class of security offered
The real estate transfers for the week
were eighty-nine, and the consideration
s35S.3S There were fiftv-One building
permits issued, the estimated value of
which is S115,S05.