St. Paul daily globe. [volume] (Saint Paul, Minn.) 1884-1896, 1889-12-22
Several Big Additional Deals
Were Consummated the
Past Week.
Mysterious Veil of Secrecy
Drawn Over the Purchasers
of the Property.
Eastern Men Will Eventually
Prove to Be the True
Owners.
Outside Capital Sending Up
ValueS--No Bargains TO
Be Obtained.

The conservative men of st. Paul are
moEing-that is to say, for the past eight
weeks they have been gObbling up all
the best pieces of property purchaSable
in the business parts of the city. There
is method in this movement on the part
of meneyed men in our midst. As re-
peatedly pointed out in this journal. the
business values OF ST. Paul were de-
cidedly below the prices obtained in
other and less fayorably situated cities
IN the Western states. Such an anom-
aIOus condition Of things cannot
be much longer continued. Il is
limited by those "who know" that
there has hitherto been a tendency on
the part of local moneyed men to "bear''
the realty market. This was easily ac-
COmplished when no outside capital was
brought into the city; but to-day we
hnd a different condition or things.
Eastern money is really inundating the
market. There is so much gold on hand
that. for leaning purposes, it can read
lily be secured at ; or 8 per cent, Instead
OF s or 10 per cent year or two ago.
This foreign surplus capital seeking an
investment IS naturally giving an up
AuIU IGLALHEE u liAO alb4-JE mail INV
values of business property. Local
capitalists see this, and they are there
fore buying up all the lots they can lay
hands on, particularly Sixth and Eighth
street property. The investment is
bound to prove q lucrative one. There
will be sufficient indication of this to
the public generally with the advent of
spring, when a big boom in realty is
widely anticipated.
There have been several very big
deals completed this past week by
MesSrs. Smith 81 Taylor and A. IL.
Rogers. NeSSrs. Smith d Taylor is the
firm that sold the 100 feet on Sixth
street. corner of Minnesota, reported
last week. They have since negotiated
in tact the sale has been made-addi-
tiOnal valuable property in the business
centers. Who are the purchasers?
where Is the property located? are QueS-
tions which MeSSrS. Smith Il Taylor
were not Yesterday in position to in
fern the public. They deferred all in
Cuiries for 4 few more days and then Sir.
Smith promised. 1.-The public shall know
ALL" 1t viii then by possible to deter
mine if the Metropolitan opera house IS
or is not to be located on Sixth street.
This question has been a mOoted one
all the past week, owing to the lack OF
authoritative denial of the parties. Mr..
Smith does not think that the Metro
pOiitan opera house will be located on
Sixth street. but could not, or would
not rather, decisively say that the opera
house company had anything TO do with
the purchase Of the property, corner OF
Sixth and Minnesota streets. which ne
negotiated.
Its pretty certain that some Of the
big sales the past week, which are be-
ing kept SO quiet, have been made in
the interests of Eastern men. As stated,
MeSsrs. Smith s. Taylor are prOml-
nently mentioned in connection with
these sales. It IS, therefore, Signitl-
cant that Dir. Taylor should have spent
the greater part of the past week IN
New York. That some of these i'm
portant sales will ultimately develop the
land of Eastern capitalists is as
gured. Who and what their lu-
tenti0nS are, are questions OF
deep interest to citizens generally. Mr..
Rogers sales, which he says will equal
that of hlessrS. Smith & Taylor on Sixth
street, are of business property and to
Eastern men. Mystery also hangs over
these transfers until a certain formula
IS gone through. Though 1t is unsatis-
factory to report important deals. lack
ing the consideration paid and the
names of the parties interested. it is in
teresting 10 note that q healthy tone is
being maintained in the realty market.
On all sides, the report is made that
there is not only good inquiry, but
that inside property is active, and acres
are booming.
Ed Simonton is particularly i'm
pressed with the healthy state of the
market. Il have some money" he
said. ''Sent to me from the East TO in
vest in Midway district property. have
been locking round for special bar
gains, bat do not find lots very cheap.
The prices are firm. Persons with cash
can ordinarily pick up some bargains in
real estate, but do not find any very
great bargains. This shows healthy
market. One reason for this, l think,
is the excellent investment for money
you find in real estate. 1t is different in
merchandise and things Of that char
RCter. You put your money in them
and when you sell out it is invariably at
, loss. On the contrary with realty
that IS, realty in such a growing city
ike this. The longer you keet it the
greater its Falue becomes. There is a
large amount of none, z the city seek
Ing this class of observation-disclosures
DWneTS are Inclined to hold for higher
prices"
George III. Hazard is preparing some
interesting statistics showing the rise
and progress Of the city. Here is a
sample:
st. Paul. 1880. 1889.
Population. -. 4,473 2l6,000
Bank capital. So. 95o,Oe0 $685., O0C
Building permits. 1,073 3,776
Real estate transfers
(ten monthsJ -. S2,757. 600 s23, sos, 2O2
The compilation of such statistics, and
arranged in this unique way, cannot
fail to draw the attention of outsiders to
the great growth of st. Paul within the
past decade. aud lead many to make in.
QuirieS az TO the business facilities il
offers.
NOTES.
Hilliard s. Burton sold a lot on Carroll
street, ia Merriam Park, for 81, 900; two
lots on Lexington avenue, near Grand
for s., 500, and two lots corner Of Arun
del and I4afond, for $500.
Considerable building is going or
north OF University avenue, between
the cities This is notably so in Thomas
street addition. which three months age
was a potato patch. There are eleven
houses now under contractor that land
A. II. Rogers-I have had one bic
uc<ll tile NcCh dliu nave OllicES Ou 6ilt
way. Can not tell you anything. Cal
next week.
I.awton Bros. report good inquiry FOL
business property on the West side
They SOLD three lots in Stinson's addi
ton at 5000 each.
The st. Paul Park Improvement com
pany sold lots aggTegating g, 900 the
past week. There have been 100 houses
built this tear at the Park.
Smith IL Taylor sold two lots on st
Anthony avenue at 81, 500 each.
st. Paul Building Permits.