St. Paul daily globe. [volume] (Saint Paul, Minn.) 1884-1896, 1889-03-31
STANDARD OF VALUES
Tom Lowry's Big Dieker on
Dirt a Boon to Deal
epS.
It Has Fixed a Price on ALI
Property on the
Lists.
Prospective Purchasers Who
We're Undecided Are Now.
Ready to Buy.
Improve the Great West and
st. Paul Will Be Ben
Gifted.

In city like st. Paul, prices of bust
ness property frequently stand still OF
fiuctuate in feverish, unsettled man
ner for some time after the city has at
tanned metropolitan proportions. Some
thing seems to be necessary to estab-
liSh values Oh firm footing. This has
been the case for some time past in st.
Paul, and while property in the bust
ness parts of the city has be9n held at
firm figures in the face of lively in
quiry, yet very little, comparatively
speaking, has changed hands. People
seem TO have been afraid to make a
move, not being absolutely certain
of the value of such property.
While they have wanted to get hold
of some and have thought the figures
reasonable, something has told them to
wait and see before taking the final
step. In consequence, many men have
waited for developments before buying,
not being absolutely certain they were
right. Just what was needed took place
last week, in the sale of the Fourth.
Fifth and Wabasha street lots by the
Davidson estate to Thomas Lowry for
the proposed new opera house. This
has established a value for business
property which cannot be diminished.
The price paid was probably under the
market value. but not very much, and
the fact that it was sold for the purpose
of building an opera house is
taken into consideration by all
commentators on the price. A lot
is not generally held at its extreme
valuation when wanted for purpose
such as this. The owner feels in duty
bound to show his public spirit by
letting it go at a moderate valuation.
This property bad been held at a
slightly higher price than it was event
ually sold for, and it is generally con-
coded that the sale established a value
for all adjacent property higher than the
actual price paid. Now that values
have been settled. the spirited inquiry
for business property which has been
the feature of the market for some
weeks may reasonably be expected to
tpke shape in good number of trans
ferS.
The inquiry has continued brisk dur
ing the past week, not alone for bust
ness property, but for lots for building
purposes. st. Anthony and CrOcus hills
are much sought after, and many pur-
chasers are securing desirable properties
on Arlington Hills, swhile East Seventh
street and the surrounding territory have
seen some good sales. The
INQUIRY FOR ACREAGE
in the Midway district is good, and
many holders of such land in Re-
serve township and around the pro-
posed new boulevard system have
raised their prices materially. If rapid
transit between the city and that dis
trict south of Summit avenue. west of
Lexington avenue to the river, and as
far south as Fort Smelling, could be Oh
tanned by street ear. motor or
rail, it would speedily open up into
one Of the finest suburbs of st. Paul.
This section of the city is the gem
of it. Nature has provided it with
every natural beauty: stream, lake,
dale aud woodland combine to make it
paradise. This is the direction in
which the city should be encouraged to
sula running down to Fort Smelling. Oh
the Ramsey county side, is filled up
with houses. This is the prettest part
OF town, and the eager inquiry for prop
erty there is a sign that the knowing
ones foreSce the inevitable future.
The feature OF the past week was. of
course. the real estate banquet. The
ears OF those who were present
are still ringing with the elo-
quent and prophetic words of Col.
}. Ham Davidson. Their sides
sun dClllllS dllCl lHC ldUSHlCl
caused by Albert Scheffer, and their
brains are still bordering the words of
wisdom uttered by f, V. Smalley, ID. r.
Noyes, II. S. Fairchild and Others
Amid the fall of empires, the crash of
earthquakes and the hustle attendant
upon the inauguration OF ST. Paul'S new
era, there is much that should not be
forgotten. The speeches at Thursdays
banquet, taken as whole, are food for
the deepest thought, and if every one
who was present thinks deeply on the
subject matter presented and acts out
the results of his mental cogitations,
the new era
Will. BE BRIGHT ONE.
The principal idea developed by the
sum of the speeches was that the best
way to develop st. Paul is to do all in
our power to develop the whole state.
st. Paul is the center for such an i'm
mense amount of territory, her jobbing
trade controls the retail business Of so
many thousand miles, she is the manu-
featuring center of stretch of country
beside which the proud empires OF the
old world are but pygmieS. She is the
center of the richest agricultural dis
trict in the world; she stands like a
gate between the East and West:
through her must pass all the freight
and all the passengers between the At
lantic and the Pacific; in view of these
facts her future is assured. But that
future to be thoroughly successful needs
the hearty cooperation of all her citi-
zens. The more the vast prairies to the
west are settled by farmers, the
more the dense pine lands to the north
east and northwest are opened up, the
more the rich iron fields to the north
are developed, the larger the seaport
town of the NorthweSt-Duluth-
comes, the more prosperous the sister
city on st. Anthony falls becomes, the
greater will be the height to which st.
Pauls banner of fame will rise. These
are all but so many sparkling Jewels
which viii serve to make more brilliant
the golden crown OF st. PaulS metro
politan greatness. Whatever helps any
ideas of rivalry which may have existed
are now buried. The
SUPREMACY OF ST. PAUL
and her irresistible upward career in
the march of prosperity is now con-
coded, and any relics of jealousy still
existing should be buried deep-deep as
the iron mines on Minnesota'S northern
boundary. The principle laid down by
every speaker at the banquet last week
was that the best way to help st. Paul is
to develop Minnesota. Why should all
tuC luIllilG dlllS VIII udlIy loHu III Ot.
Paul be allowed to go through to Ore
gon, Montana aud Washington? Why
not keep them here il Minnesota. where
there is plenty OF land still waiting for
the hand of the Settler-waiting in vir-
gin simplicity for the arrival of the hus-
bandman who will make itconceive and
bear fruit? Unity of purpose was
dwelt on with keen insight by ID. Il.
Moves. He showed the rival real eS-
tate men that scltishneSS would but
retard the growth of st. Paul. and adj
uiSnd them To work for one object Min