St. Paul daily globe. [volume] (Saint Paul, Minn.) 1884-1896, 1890-08-31
The Week Has Been Marked
With a Large Number Of
Transfers.
Dealers Are Turning Their
Attention to Midway Dis
trict Property.
Opening Of Cable Extension
Creating a Boom at Mer-
Ram Park.
Trade Review Of Last Month
and General Business
Forecast.

The one event of interest to real
estate men last week was the opening
of the Selby avenue cable extension to
Merriam park. No bands of music
heralded the approach of the first car
over the line to Merriam Park; there was
no speechifying or public demonstration
of any kind; the opening passed Off
quietly, and in every way becoming the
-Sunday-when the cars were first
started. The road was well patrOnlzed
Sunday. Thousands of people took
trip over the line, some ''just for
the fun of the thing" many to
see the country opened up; others to
determine upon the desirability of To-
eating in the neghborhOOd. Excellent
car service is being given by the street
railway company. Cars run every five
minutes eighteen hours out OF every
twenty-four. The speed of the cable
from the power house at Dale street to
Merriam Park is twelve miles per hour.
This may not seem very much faster
time than is made on the line east of
Dale street, which is eight miles per
hour, yet those who have taken a
ride to Merriam Park have been
impressed with the belief that the in
creased speed is quite satisfactory. A
few facts relating to this extension may
not be out of place. AS already stated.
the extension of the line is from Dale
street to FairView avenue at Merriam
Park. This is two and one-half miles.
hn ol-. nd M
best construction, with an $4,000 iron
bridge over the Milwaukee short line
tracks. Selby avenue west of LeXlng-
ton avenue remains in a somewhat
torn-up condition, and it is very desir-
able that the city railway company
and the city force work together
tremendously, SO that at an ea1ly
date as possible this street may be i'll
presentable condition. With the open
ing of the cable extension there has
been an increased inquiry for residence
property in the district. Real estate
dealers are very sanguine that all the
property along the line will command a
first-class price during fall and spring.
AS one prominent realty man observed:
"Certalnly with the very best class of
transit that the city has there is no rea-
son why this section of the city should
not be built up with only the very best
improvements"
The Selby avenue cable line extension
having been completed and now being
operated successfully by the city rail
way company, should be a warning to
the few parties who have failed to de-
post their deeds with the trustee for the
subscription they mace to the fund
raised to secure the extension. 1t is
desirable that persons who have thus
far neglected to pay the bonus or deed
property should go i'll promptly to the
ST. Paul Title Insurance and Trust
company, trustee Of the fund, and close
the matter up at once. After the
line has been in successful Oper-
alton thirty days, the prop
erty and such bonus as is paid
in cash, will be turned over to the rail
tract entered into between the property
owners and the st. Paul City Railway
company. which bears date June Is,
1859, the city railway company are COM
PEELED to operate its line contin-
uously, and substantially ass the old
line was operated, from Broadway to
Dale street. The company earns but
90 per cent of the 100000 subscribed
each year it is run, so that at the end
of five years they will have earned the
full 100000 bonus. The contract fur
Their provides that only 5 cents shall
be charged for one continuous ride over
any part of the line. or all of it,
between Broadway and Fairview ave-
nue.. The early completion of the cleo
trio lines which are now under coll
struction is assured by the city railway
company. The companyiS doing every
thing in its power to get the line in
shape, and there is little doubt but
what, if the power house was finished
and the machinery which is going into
it was on the ground, the lines could be
started up within twenty days. 1t will,
however. be several weeks before the
dynamos and engines arrive. The rep
reSentatives Of the railway company say
there will be no delay in opening the
line on the date specified in the contract
and ordinance.
The past week in the realty market
has not been marked by any large deal
ings, bun the large number of transfers.
ranging from $1,000 to $4,000, is every
indication that people in moderate cir
cumStanceS are taking hold of property.
This was the condition during the fall
of 1885, which preceded the activity of
1856 and 1887. Real estate men gener-
ally are very Sanguine OF a good fall
business. The outlook is encouraging
I'm every direction: immense crops
throughout the Northwest; more money
for the crops than has been
received for many years; heavy
demand for the products of the
country at large; iron mandatory in
dustries crowded with orders; the
rapid development of the country tribu-
tary to St. Paul, and the increase of
business which is reported by every
wholesale merchant, many saying their
August sales this year are the largest
they have ever been. These, as we'll as
the fact that the values of property in
st. Paul are conservative, and below
those of other Western cities of similar
size and advantages, are a few of the
reasons why holders of st. Paul prop
erty have so generally maintained
prices in the face of the quiet market,
and the depressing effects from
other cities where values have been
pushed beyond a reasonable limit.
The large number of substantial
homes and business blocks which are
being erected OH the West side. is an
indication that that portion of the city
is prospecting. Its location and natural
advantages are many. With the early
completion of the electric lines, which
will furnish the West side with as good
transportation as any part of the city,
there is no doubt but that the owners of
property will find an opportunity to dis
pose of their holdings at prices which
to-day may seem high, but which in
ninety days will be considered very rea-
sOnable.
Bushnell & Bushnell sold during the
week twenty lots along the University
avenue electric line, west of Lexington
avenue, lat $500 per lot. The same lots sold
IN 1886 for $500 per lot The section of the
city in which these lots are located has
built up rapidly during the past year.
and what was a prairie three or four
years ago, between Victoria street aud
Hamline proper, is now covered with
the homes of great many people.