St. Paul daily globe., 1889-03-24
Railroad investments Are In
secure, and Capitalists
Turn to Realty.
Stewards Predictions About
MinneSota'S Future Fast
Being Realized.
s1thing Can Check the On
ward Rush of the North
Star Metropolis.

The balmy spring weather Of the past
yeek has caused decided increase in
Sae demand for building property. The
5arly commencement of seeding
throughout the state has had its effect
on business at large, and has incident
ally made much livelier real estate
market than for several months. 1t
may seem far-fetched to talk about the
weather affecting the real estate mar
ket, but it is nevertheless true that it
does SO very materially. One
factor which must be taken
into consideration by all men
who have any dealings with Eastern
parties is the railroad problem. The
present unsettled condition of all rail-
road affairs and the uncertainty of the
future have deprecated the securities
of the roads to such an extent that con-
fidence has been in measure destroyed.
A large class of men who have been in
the habit OF buying railroad stocks and
bonds as investments have found out
that dividends are like angels visits,
and the fiuctuation in value of the Sc
curities makes them very unsafe invest
mentS for any but the manipulatorS of
the market. Confidence in these chan
nelS of investment having been shaken
to its foundations, the capitalists
have cast about them for an alternative
investment, one that will bring them in
regular annual income, and at the
same time be good security. They are
tired of buying stocks and bonds whose
value is an unknown quantity, and have
sought for an avenue of investment
where the security cannot depreciate,
but will have tendency to appreciate.
After careful thought and investigation,
Western lands. real estate in Western
cities and mortgage loans have been
found the safest
INVESTMENT FOR SURPLUS CAPITAL.
st. Paul, being the metropolis of the
whole Northwest, is gradually becom-
ing the central point for all speculative
investment. The climate of Minnesota
the fact tnat st. Paul'S death-rate is the
lowest on the continent (while the city's
population is continually increasing the
death-rate is decreasing in inverse ratio)
the steady, uninterrupted growth of the
city. the absence of excitement and the
unceaSing increase in the number and
quality of the buildings-all these COM
bine to attract outside capital.
Stewards predictions about Mime
sota's future are fast being realized.
Twentyfour years haveelapsed since,the
prophecy was made, and more than half
is fulfilled. Situated as st. Paul is,
close to the head of lake navigation,
and at the head of Mississippi naviga-
ton. midway between the Atlantic and
Pacific oceans, and the vortex aronnd
which the great maeStrom Of Western
railway traffic revolves, there is no
wander that capital is attracted. st.
Paul has now reached stage in her
history which may be considered the
COMMENCEMENT OF A NEW ERA.
She has struggled out of the short
fr0cks of country town, and has at
last donned the trained dresses of a
metropolitan city. Henceforth her prog
resS cannot be checked, as she has
become the great manufacturing. Job
bing and railroad center of the West.
Other cities in the neighborhood may be
as large, but they have not the solid
foundation that st. Paul rests upon.
She is distinctly home city. so to
speak. BY this is meant that greater
percentage of residents own their homes
and the lots upon which they are built,
than any other city in the Union. Very
few people rent houses here, and this is
one of the most promising features for
the city's future. The fact is that lots
are so cheap on the outskirts that the
buy and build than to pay rent
There is very satisfactory amount of
building going on, and in certain local
tiles there is unprecedented activity.
Arlington Hills, part of the city
which is very little known, is fast be-
coming one of the most pOpulOus dis
trictS. A vast number of substantial
frame houses are being erected, and
Payne avenue is becoming thoroughly
business street. Around Lake Como
there is great activity. Several facto-
ries and large brick improvements are
going up. and a few months will see
this busy part of the city. Hamline
is also the scene OF great activity.
George Hazard said yesterday that he
knew of a number of sales out there
during the last few days, which in the
aggregate would show great demand.
In almost every instance the sales were
made to parties who will build at
once. There is strong demand set
ting in for residence property of
all sorts. st. Anthony and Crocus
hills property is held at very high
figures, but that they are not too high is
demonstrated by several large sales
made during the week by Bushnell &
Bushnell, who also report good sales
around Lake Como. E. G. Handy has
property in the northeastern part of the
city, and has great
FAITH IN THIS QUARTER.
On Aug. the Wisconsin Central rail-
way will enter the city over its new
track from Gladstone, owing to the ex-
piration of its contract with the st. Paul
Il Duluth. This line will give rapid
transportation facilities to district now
only reached by the street car line, but a
district to which the board of public
works has been very liberal. The i'll
crease out there is shown by the addi-
tional school accommodation which it
has been found necessary to rent. The
president of the street car company
made the statement that the line run
ming out into this district, over Payne
and Greenbrier avenues pays better
than ANY other line i'll town. showing
that since its inception last fall great
suburb has sprung up on and around
Arlington Hills.
Centrally located business property
is eagerly sought for. and the supply
does not equal the demand. In short,
every sort of st. Paul property shows
good value and is very safe invest
ment. The indications are that very
lively summer is before US, andthat ST.
Paul,c onward ruch IN tha zapith nf