St. Paul daily globe. [volume] (Saint Paul, Minn.) 1884-1896, 1889-05-05

DEALERS ARE HAPPY.
Some Transfers of Very Great
Importance in st. Paul
Real Estate.
The Project for Extending the
Cable Line to Merri-
am Park.
Commission Men Will Remove
Their Business Headquar-
tiers to Broadway.
Other Matters of Interest and
Importance to Owners of
Property.


extreme interest. not only to real estate
men. but to every inhabtant of st.
Paul. First and foremost among these
is the agreement between the owners
of property in the Midway district and
the cable car company. Definite action
will probably be taken at the meeting
next Tuesday. The company was
asked on what terms it would extend
the cable car service to Merriam Park.
Its reply was that a new cable would
be put in on Selby avenue from the
present terminus of the line to Fairview
avenue, on which cars would be run
every five minutes at a greatly increased
rate of speed. This would be done
on condition that chat portion
of Selby avenue be widened by twenty
feet. ten feet on each side, graded, and
sewer and gas pipes laid. A bonus OF
100000 worth of land is also asked.
These terms seemed reasonable to the
property owners after Col. Barr eX-
planned that such line could not pos
sibly pay for several years, and that
bonds could not be toated for it unless
a bonus of that sort were given. The
reason that the bonus is asked in land
instead of cash is two-fold. The effect
of the company owning large quantity
pf land scattered through the Midway
district will he to permit decided rise
in values and yet to check any undue
advance. The object of the company is
to build that part of the city up. and to
hold prices down to point which will
enable men to buy and build. OF
course the extension of the line
will raise values as soon as ever the
work is commenced This is legitimate,
and is what men are in business for,
but the car company will set figure on
It's land which will rule the prices
and keep them from running up out of
reach. Is this bonus is granted, the
railroad bridged and the other improve
ments put through at once, the line will
be in operation by May l., 1890. The
contract for grading Selby avenue is
already let, but only covers the present
width of the street, SO that it will have
to be changed to cover the extra twenty
feet. All the property owners who were
present at the last meeting were will
ing to do their share towards raising
the 100000 bonus and donating the land
along Selby street for the purpose of
widening it, ana so far no objection has
been made by any one. Apparently all
who have land out there are very will
ing TO
SECURE RAPID TRANSIT
on such terms, realizing. as they say.
that inside of two years. lots that are
how held at 81 GOO will sell readily for
$4,000 and upwards. Such an extension
will benefit large section of territory,
opening up Manchester z ark, Merriam
Park and all the neighborhood which
can only be reached by driving now. A
meeting to take definite action will be
hold nayt 'VNuacAaU If iS of tho MT.
most Importance that no time be lost.
The real estate board held its regular
weekly session yesterday morning. The
committee appointed to investigate
transportation asked for more time,
which was reluctantly granted.
The question of valuations was
discussed at some length and
the secretary instructed to see the alb
stract clerk and ascertain what a state
ment of all the transfers for five years,
tabulated by additions and lots, could be
had for. This is to be used as a guide
in establishing uniform scale of prices
and will prove of great value. 1t is hard
TO arrive at definite values in a deSul-
tory discussion, but with actual figures
as basis will take but little time. The
meetings of the real estate board should
be attended by every member regularly,
as the work now being prosecuted is one
of such Importance that it cannot he
overestmated. A vast amount of work
has to be gone through with, but in the
end it will save every real estate broker
and owner many hours every day.
Last fall a scheme was projected by
number of commission men and the
Broadway improvement company to
buy up all the property lying between
Broadway and Rosabel streets and Fifth
and EIObtb cfrnpfC f9EinG fhroo
whole blocks. Difficulties seemingly
insurmountable stood in the way.
Block ID, between Fifth and Sixth
streets, was owned by the Schurmeiers,
among whom were several minor heirs.
1t was found that they could not be in
duced to sell, and apparently the scheme
tell through. The idea in this scheme
was to build large blocks suitable for
commission business, with the upper
floors for offices. This would not only
greatly improve Broadway and all the
surrounding property, but would have
most ben eficial effect upon Robert,
streets, where the commission bust
ness is almost entirely done.
This business is one that hurts
every other kind of business near it. if
established in the retail part of city.
Robert street, for instance, should be
one of the best streets in the CITY. 1t
is one of the best cross streets and has
some of the finest buildings on it, but is
spoiled by carcasses of dead animals,
bales Of hay. banana peel and other in
teresting but
UNSIGHTLY ARTICLES OF UTILITY
covering the sidewalk. The street is
blocked up by the commission mems
drays, and altogether it would be a
much better street if these use1ul men,
bers of the business community were
located somewhere else. The vicinity
OF Sixth and Broadway is more suit
able place in every respect. 1t now
looks as if the deal mentioned above,
instead of being dead, had only
been sleeping. A large sale was
made last week to the Broadway I'm
provement company of 100 feet on the
north side Of Sixth street, 100 feet on
Broadway and the same on Rosabel.
On this will be built a $15O,0OO block
arranged especially for commission
men. many OF whom have agreed to
move there. This purchase is only the
fist of series of similar ones which may
be looked for in the immediate future,
and will have beneficial effect on
Rosabel and Broadway property, as
large blocks will at once cover ground
which is now lying practically idle. 1t
will also relieve Robert, Fifth, Sixth
and jackson streets of the drag on their
development caused by the nuisance of
so many commission merchants imped-
Ing traffic in the heart of the city.
Out in the vicinity of the Harvester
Works,sat the intersection of the st.
Paul & Duluth and Omaha tracks,
large box factory is to be built by
Blodgett & Osgood, who will move
there as soon as thew can get il finished.
They have bought the land, and will
push the new factory as rapidly as posi-
bic. Building operations of the most