St. Paul daily globe. [volume] (Saint Paul, Minn.) 1884-1896, 1890-04-20
BUSINESS POINTERS.
What Wizards Proposition
Means for Development
Of the Twins.
Cheap Motive Power Will Be
the Salvation Of the
Northwest.
Home Enterprise Certain to
Command Attention From
Outside Capitalists.
Trade Is Improving and the
General Outlook Is Very
Good.

Good.
Henry Willard has come and gone, land,
to put it mildly, his visit has been some
what disappointing. There is no doubt
that the disappointment largely arises
from the great expectations that were
raised over the proposed utilization OF
the Mississippi river for the production
of electric light and power. To some
extent Mr.. Willard himself was respon-
sible for the great interest which was
evoked in regard to his visit to the Twin
Cities, and particularly on his arrival
here, when he refused to grant an inter
view to the newspaper men. Such
proceeding naturally excited
the interest of every business
man, particularly when Mr.. Willard
declared he was going to say what he
had to say before the assemblage OF tie
representative men of the Twin Cities.
The practical confirmation of the re-
ported Abandonment OF the Meeker dam
project was consequently severe blow
to the high hopes of investors i'll Mid
way property. While in this respect
Mr.. Wizards visit was disappointing,
there is some cause for congratulatlon
over the fact that he will adhere to his
scheme to furnish electric light and
power at cheaper rate than it can be
secured now. The supply of electric
power at cheap rate, especially with
the inventions daily being discovered
for the safer and better utilization OF
electricity, is a matter of material mo-
ment to the Northwest What
is needed here is an increase
in manufacturing industries. To
maintain their supremacy the Twin
Cities must be supplied with additional
factories 1t is a difficult thing to Sc
cure factories. unless it can be proved
that they can be worked on a paying
basis. The one great drawback to the
successful working Of big manufacture
ing establishments in these cities is the
great expenditure incurred for power.
The coal region is so far removed that
the price for fuel ranges at almost pro-
hibitlve prices for a manufacturer to
produce goods at figure which will
compete with outside establishments.
If this one difficulty can be overcome
by the substitution of electrical power
or steam power, and at saving of
nearly so per cent. the future prosperity
of the Twin Cities is doubly as
sured. The information given by Mr..
Willard that the Northern Pacific Rail
road company would spend from $50
100000 to S60,000,000 in the Northwest
within ten years, is also of great inn
portance to these two cities. Some of
this money will assuredly find its way
here, particularly with the headquar-
tiers of the Northern Pacific road at st.
Paul. While, therefore, Mr.. Wizards
visit has not inaugnrated that boom
which many real estate men antici-
pated. it will be seen that in what he
had to say and did say there is much
that will add to the solidity and grow
ing Importance of this section Of the
country.
After all, in building up of city it is
best to look at home. Take st. Paul
for instance. There are scores of men-
men who have made their millions here
who, if they only had faith in the city,
could quickly start all the manufact-
ures that are just now being clamored
for. Outside capital will rarely seek
men are at all backward in themselves
pIanking down money for the purpose
of developing its resources. 1t is for
this reason that so much common da-
ton has been bestowed upon the Manu-
facturers' Loan d Improvement COM
pany. This company, in addition to
abolishing the foolhardy method of
granting bonus after bonus to
people who will establish a
factory in the city, will dem
onstrate to the outside world that
the business men of st. Paul have faith
in the city. and that fact, once estab-
lished, will do more for the city than
well, say a hundred visits from Henry
Willard. The support so far afforded
the Manufacturers Loan and Invest
ment company is most encouraging.
Canvassing committees have been out
the past week, and will continue to So
licit subscriptions until every business
man has been afforded an opportunity
to take stock in the company. By
then it is confidently expected that
the whole of the $1.000,000 capital will
have been subscribed. Once that is OBJ
tanned, the company will get down to
actual business. The sooner the better,
for the applications that are pouring in
from manufacturers desiring to locate,
are growing daily. 1t is confidently an
tacipated that factory with capital of
100000 will be among the first that is
secured.
A drive in and about the city reveals
avaSt amount of work now being done.
Considerable grading is being done in
the suburban districts, and, as pre-
viously stated in this journal, a great
amount of residential property is in
course Of erection. Several large bust
ness blocks i'll the city are just on the
point Of completion, and will be open
for accommodation by the end of this
month. The activity thus displayed in
the building trade is having a good eff
feet on the general business of the
city. The stOrekeeperS are just now
enjoying the best trade that they have
experienced for years, and the outlook
is favorable to continuance OF the
same. The prosperity experienced in
the East, the good times on all sides re-
ported in Chicago, clearly indicate that
the cloud of depression is gradually be-
ing raised. A good harvest this year
for the farmers of the Northwest, and
booming times would be again with US.
Steady sales are reported by realty
dealers. The biggest transfer OF the
week was that of E. A. Hendrickson to
the Commercial bank, consisting of the
property which the bank will shortly
occupy at the corner of Robert and
Third streets. The price paid was $685.
900. The next highest transfer was
that made to j. McCulloch by @. E.
Marvin-a lot on Summit avenue addi-
ton for $4,000. While there are the
only transfers of note, there were a
large number of transfers ranging from
$500 to $1,000. The property was
mainly located in the suburban parts of
the city.
Notes.
Charles Malmo will build a two-story
frame building on Dayton avenue cost
ing $4,000.