St. Paul daily globe. [volume] (Saint Paul, Minn.) 1884-1896, 1889-08-25
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EARTH IS AROUSED,
And That Portion Pertaining
to St. Paul Shows New
Activity.
Demand for Good Property
Holds Out, and Even In
creaSes.
The Year Will Round Up as a
Good One for Build
ing.
Gossip Of the Market and
Opinions Of Men Who
Know.

The week just closed has heen one of
remarkable activity, not only in the
realty circles but in the business walks
generally. The prosperity which seven
weeks ago raised its head is poisoning
into qualification, and Oh all sides great
speculations are maturing for some ex-
tensive deals.
One thing very apparent-there is not,
nor is there likely to be, any dearth of
money Seekingi investment. The city
just now is almost inundated with finan-
cial agents representing Eastern capt.
talists, who arc seeking investments at
z and per cent, according to the secur-
| ity offered and the time OF the loan pur-
chased. A very healthy feature. and
one which is greatly overlooked, is the
vast number of mortgages paid off
within the past twelve months. Assessor
Harroun reports 10 less than $4,000
| mortgages, assessed last year, have dis
appeared from his books this year, the
loans having been liquidated. This is a
remarkably good showing, and, if one is
necessary. is a significant illustration of
| the excellent security offered outside
| parties for investing their surplus cap
| ital.
The inquiry for real estate has been
good. This is particularly noticeable
| in the number of sales OF unimproved
| property on Summit avenue, which has
| been purchased with the view of i'm
| proving the same. The sum of $1,000
has been refused during the week for
| piece of property on Fourth street,
| but as there is but 10 per cent difference
| between the purchaser and owner. the
| sale is likely to be effected the ensu-
ing week. The district adjacent to
Selby avenue islOOked upon most favor
| ably, as it seems almost certain that the
cable extension will be completed by
June of next year. The district north
of University avenue is also expert
encing quite little boom. owing to the
projected rapid transid along this ave-
nue. to unite the Twin Cities. The
property hereabOutS is among the finest
in the city. and large increase in val
| ues is confidently looked for. There have
been number of Philadelphians in the
city the past week, and their object is
the purcharse of improved business
blocks. 1t is understood they have
taken the refusal of two blocks in the
wholesale district.
All immense amount of building is
being done this year-in fact, the larg-
est experienced in the past four years.
And among the best-p0Sted business
men of the cityit is conceded that.
large as has been the volume of build
ing this year, it will certainly be out
distanced next summer, as every indi
cation points to an unprecedented time
in the erection of residential property.
There are now being erected a good
number of houses south of st. Anthony
avenue, and on Selby avenue. They
are of a very pleasing exterior, fitted
with all modern improvements, and will
be rented at reasonable rates. This is
only as it should be. The great want
in st. Paul to-day is residential houses
for the people, especially at reasonable
rates. The investments is, certain to be
productive of good returns, and. ought
to be at once taken up by capitalists.
A. r. Bushnell agrees with all that
has appeared in. these columns, week
after week, in regard to the trade pros
poets the coming fall. .The Market"
he says, twill be very. firm one. and
considerable activity will be expert
enced. Already money is coming in
from the East, seeking investment in
those districts where rapid transit is be-
ing projected"
The opinion expressed by Mr.. Bush
nell is Endorsed ny scores of other real
estate dealers and financial agents. 1t
cannot be otherwise. Heavy building
has been done and Improvements made
the last few years, while the value of
realty has been tagging at prices much
below its actual worth. Now that the
outlook has become more hopeful, that
the future prospects of the city are
CIrrii, m inn, fine inh
must thereby be given to the real estate
market will rush up values to their
legitimateAfgure. s
The outlook for increased street
transportation is as bemuddled as ever.
There is some probability of the Selby
avenue cable extension getting under
way, but the proposed electric motors
are as far off as ever. The property
owners of Selby avenue have raised the
100000 bonus for Mr.. Lowry to build
the required extension into the Midway
district, and the council have merely to
grant the necessary permission. This
they will in all probability do at meet
ing to beaheM tomorrow morning. The
promoters of the extension are urging
the aldermen not to unnecessarily delay
the granting of the franchise, as it is
proposed to Immediately break ground.
fall and completing it next June.
The Carpenter park is not yet an as
sured fact. This proposal of the park
commissioners has raised a terrible howl
among adjoining property owners, who
fairly rave at the prospect of further
assessments. And well they may. when
it is considered that four-fifths of them
have put their entire means in the
homeSteads now occupied by them. 1t
is also said that many are carrying
mortgages on the same, and, having
been heavily taxed for paving, sewer,
water and other improvements, they
feel that if halt is not called they can
not afford to hold property in theneigh-
borhood Citizens generally will agree
with the cry of these petitioners. tits
about time little economy was dis
played in the city's assessment list, but
it is selfish to suggest that the purchase
of Carpenter park should be borne by
the city generally. If that be so, then
why should not the Dayton's bluff In
dian Mound park be similarly pur-
chased?
Bushnell & Bushnell made two sales
on ST. Anthony hill last week, aggre
eating S21,00O, and have to report a.
good inquiry by mail and parties in the
city.
+. Holloway & Co. yesterday sold
The sale aggregated s12,325, being an
average of 1886 per lot. The same firm
have also sold lot at the corner of Ar
cade and Cass streets for $4,000.
ST. PAUL REAL ESTATE
Nine deeds. with aggregate considerations