St. Paul daily globe. [volume] (Saint Paul, Minn.) 1884-1896, 1890-02-09
IN REALTY CIRCLES.
Highest Price Yet Paid for
Inside Business Property
in st. Paul.
Indications That Within a
Few Months Higher Prices nj
Will Be Obtained.
People in the City Desiring to
Open Different Lines Of 30 %
Business. "
les
Electrical Railroad Notes and
General Comment on the =.
Weeks Market. 10

Two weeks ago the GLOBE stated that
the Merchants National bank was about
to purchase new site at the corner OF
Fifth and Jackson streets. The sale
was cOnsummated the past week. The
price originally stated In this journal,
Sl.750 per front foot. is the highest yet
paid for realty j. in st. Paul. Three
months ago, when Messrs. Smith
u Taylor announced the sale
OF some property at the cor
ner of Fifth and Robert streets
at S1,476 per front foot, there were
many. peonle who SAID the sum was
entirely beyond the value of st. Paul
realty. That they were wrong is DEM
onstrated by the purchase made by
such conservative institution as the
Merchants National bank. paying 1914
per front foot for property on Fifth and
Jackson more than was paid for prop
erty on Fifth and Robert. The average
person in st. Paul cannot clearly realize
the intrinsic worth Of the business
corners in this city. From general in
dications, the price paid for its property
by the Merchants National will not
long remain the highest per front foot
in the business district.
"A noticeable feature the past week
was the, large number Of people in the
city-deSirouS of commencing business IN
different lines and endeavoriug to Sc
cure homes. .sIt is surprising the num-
ber.of people l have, met within the
week. remarked A. r. Bushnell. That
such Is the case Is "a very reaSsuring
sign OF the continued progress OF the
city, and is largely attributable to the
comparatively open winter, and spirited
efforts now being made to keep st. Paul
to the front rank of Western cities.
The Industrial union is having
a great number of inquiries
from manufacturers desiring to
locate in this city, and according
to the statements of West side GENTLE
men similar applications are being
made to the citizens union, which has
been reSuScitated in that section of st.
Paul. While it would zbe better for the
two unions 10 work Jointly, both havs-
ing practically the same end in view,
perhaps the individual interests of the
members. preclude it. No one, however,
will complain if a large accession OF
factories is quickly secured for the
city. There is little fear but the bust
ness Interests of st. Paul, as well as its
realty, will go booming merrily along if.
Its manufacturing status can he raisedg
The Grand avenue electrical road wifi
not be opened until the 22d inst. A test
would have been made yesterday, but
owing to the non-arriyal of part of the
machinery it had to be postponed.
President Gilman, of the Thomson-
Houston company, yesterday said that
the machinery would be completed by
the close of The week, when test would
take place. Archbishop Ireland and T.
Cochran Jr., the actual builders of the
road, desire to defer the opening of the
line until the 22d inst, Westinghouse
birthday. 1t is expected that the Ram
dolph street and University avenue
lines will thereafter be undertaken and
quickly pushed to completion.
The inquiry for Midway porperty con-
tinueS undated. Capt. Ed Simonton
and a. K. Bushnell, both largely inter-
ested in this district, report that the
near approach of the opening of the
Grand avenue line and the commence
ment of the University avenue and
Randolph street lines is giving quite an
impetus to the realty in the district iu-
dicated. 1t is here, no doubt, where
boom will be experienced the ensuing
summer. Everything points in that
direction. A remarkable feature in
this district is the number of houses
that nave gone up this winter, and the
number to go up in early spring.
NOTES.
A. r. Bushnell There has been quite
call for property for speculative pur-
poses. and from present appearances
the activity in real estate expected the
past six months has about arrived.
Smith 81 Taylor-We sold SIT, 900 lot
on st. Anthony hill this week.
The mortgage loan business continues
brisk. A great many people, preparing
to put up buildings during early spring,
are now making arrangements for the
money they will require.
st. Paul Industrial union will hold
meeting Monday evening at the chamber
of commerce. Business men desiring
to become members are invited to the
meeting.
There is hardly any man so friendless