The sun. [volume] (New York [N.Y.]) 1833-1916, 1890-05-05
AUST[N'S PROTECTED DAM.
WILL THE cITY ISSUE SI,&OO,OOO OF
bonds TO BUILD ITP
Tho Citizens TO Decide the Question by |
Vote To-day-Austin's Recent boom-An
Attractive Town in Many Ways.

| vote Vo-dAH-Auetinb AecehN OVOu-<
| Attractive Town in Many Ways.
AUSTIN, Tex, April 29.-The Iactive move
ment in real estate In this city began about
March Is, though with the increasing prospects
Of the establishment hero OF q great water
power owners had been holding their property
more firmly since last December Before that
time comparatively little property changed
hands here except for actual use. There had
| been no great depression In values. but there
| had been a condition OF general quiet and
| transfers were few and owners could not al
ways find ready sale for property even al val
uations then current Choice residence
property here has been held at prices
somewhat higher than have prevailed
in most Of the other cities In southern Texa"
and the best business property also has, per-
haps, been held at slightly higher figures con-
siderlnR relative populations. Austin Is not
extensively engaged in manufacturing indus
tries; 1t Is notably residence city. There nre
living here n considerable number OF people OF
more or less weath-cattle men and business
men. both active and retired, and others. from
this State, and even from other States, drawn
by the attractveness OF the city, its salubrity,
and by the educational advantages found hore.
and by tho various interests that surround tho
seat Of the State Government Many Of these
have bought residences here. and that has
tended to enhance the value OF the better resi-
dence property and some intending to remain
hero have bought business property rs invest
ments These Investments have yielded COM
parativey small percentage OF returns in rent.
but they have tended to enhance the values OF
the best business property. In other districts
prices have not varied much from values set
on property in similar districts in other cities
OF southern Texas. The majority OF the
moneyed people here have not been active in
endeavoring to raise values, but have been
content with the city as 1t was, and with its
normal growth.
Early In March the city began to attract the
attention OF outsiders. Among the first. II not
tho first OF the active men who came here, was
an energetic man from Fort Worth. who was
pleased with the beauty OF the city and struck
by the fact that there was no boom here. He
found prices low. and he didn't see why Austin
shouldn't have a boom as well as tho
other cities OF southern Texas He
bought business aud suburban property.
A few active men OF the city began
buying, and people began to think and things
began to move. A few more mon came down
from Fort Worth and there are here now men
from Salt Lake City, Kansas City. Cheyenne,
and other points. The number OF outside
operators here Is small. and while the move
ment appears to be gathering force and
volume, 1t has been as yet marked by little ex-
element as compared with the movement at
some other points. More visitors are coming
now. and there is moro real estate talk on the
streets and moro people OF the city are becom-
ing Interested. and transfers Of property are
becoming more active and increasing In num-
Der and amount The total transfers in
this tTravis) county last year are estimated at
less than $2.0O0.000. Tho transfers this year
from jan l to April 20 were about $950,0O0.
OF this about 100000 was outside Of the city,
but the bulk Of it was near. The transfers
transfers sfG for the Were Week epgnG Spr were
slSGO0O: week ending April l.. t1lG.OOO: week
ending April 10; $4,000; week ending April rs.
property. but 1t was mainly near the city.
There have not been any town lot auctions.
in real estate operations, the number who have
heretofore taken part Is smaller proportion
Is Dh9y be es.
corner OF the city. 23.foot front lot; with a
two-story stone building was counted worth
$1,000 foot would probablybe considered avery
low valuation n2w An inside lot on the same
$500 foot: now It is. counted worth 5000 or
more. Three blocks from the central corner a
$1,000. Is now valued at about $1,000. Another
lot OF % feet with oneostory brick building;
worh or ,56S These nY are p4operss
on the principal business street, and are near
he esp from In tht t ess sae
business property further away. and on subur-
ban and acreage property the rise has been
greater
On one OF the principal business Streets flvo
blocks from the centre property. wor! ii a year
land, rs feet front and seven blocks from the
centre, that was worth last year 81. 500 has been
sold for $4,000; lot, A. feet front, three-quar;
year ago at $500 is now held at 500.
suburban property; Wp[th year ago 500 to
ing from 800 to $3.50 an acre, and in some IN
stances, at higher prices In some parts OF tho
The general Increase in values In the city IS |
placed at about twenty-five per cent. Tho |
pe9pIe, expect eth hiGLeT priIess hi aroHna. co
RADIO liver. which runs In general south |
easterly course for about 800 miles. FROM its !
co. A movement which has contributed greatly .
to the starting of the present boom Is the pro-
May 5 the citizens are 10 vote on proposition
to Issue $l.4OO0OO Of bonds Tor the purpose Of
eonstrHf fip systemloi wafer works and to
ested over Il. Only taxpayers may vote, and
stion. 1t T. generally believed that It will pass
The dam PROJECT was first started about !Ncen
nd r HsH 'SS S ia da e" ard
az any available point near the city.
tbs pSS b c 5Hs%l
In public discussion. and Mr.. Jonn Mcdonald.
the pre-cnt Mayor OF Austin. md other enter
prising citizens talked Of the dam ana he bene;
fits II wa believed would follow tho building ~
II for water supply. lIghts, md the iurnlshing
of power for manufacturing puipos".. IN.
election for Mayor in December l-,2. turned
on tho dam issue. and those in favor Of The dam
elected their candidate. The titY Council ap-
pointed an engineer 20 survey the river and IL
prominent engineer from the Last was om-
Ioyed to investigate and report ms 10 the prac-
tea hllltg and cost nni JrpspertI'9 NhlHs 81 u"
work. His report was iaNUrnhlc though II was
found that the cost uuId bee about 81 100000,
. sum much larger than T. Lad been expected
i would be. This l. tn" proposition 10 be voted
Ipou. While wator suup!y and IiKht for th"
,,ty are tho nominal aud. TO N" extent OF tho
lcresHaEy supply vi power for those Iurposes
he real objects OF III" lam, the furnishing OF
over for manufactures II the thing that ~
most talked about and hat most greatly inter-
ssts tho people. il i beloved that the dam
81 supply moro than ll,hu" orse power. and
many Of the people % tho ~ nro looking Tor:
ward ~ the estHbI-hmor iui" ~ cotton and
\ 90 gu mills Mourning mill. mi other manu- [
Gcrulsd industrIn-. ch"np"ling nanuiac-
urlE PRODUCTS. euhHn iug values Of pTpp-
'uY increasing the ropu lG'lyH, ana c0ntribut-
! = 60 the hCflyi'y and grow ! the city In
nj . IutiOu of tlpr. result objected 10 TO- .