St. Paul daily globe., 1891-09-06
GOOD TIMES AHEAD.
Realty Men Jubilant Over the
Prospect for a Big Rise
in Values.
How the Beuntiful Crops Will
Affect the Wholesalers Of
st. Paul.
q Healthy Impetus May Short
ly Be Anticipated in All
Lines Of Trade.

nave Deen more hopeful than 1t is to-
day. 1t is all owing to the crops. AL
the good things nowadays is owing to
the crops, and what we should have
done without bountIful harvest is too
distressing even to imagine. In the
last three years the realty trade in ST.
Paul has been practically stagnant
Money has been tight and 1t has been
but the few who could indulge theil
fancy in realty. However, the turn has
atlast been made. There is the ole
adage, 'It's a long lane that has nc
turning" and so we may now look
for brighter journey during the ensu
ing twelve months. With more money
in currency trade all round must have
an upward tendency. The excellence
Of the crop in this country and the fail
ure of the crop in Europe is a great
thing for st. Paul, the center of the
wheat growing district in the North
west. The farmers will for the first
time in three years have balance to
their accounts in the local banks. Their
accounts with the local merchants for
;he first time in three years will exhibit
L settlement equally satisfactory to both
sides. What is the consequence of all
this? The farmer. with bank balance.
can afford himself and family certain
degree of luxury; not to mention the
fact that he can clothe and feed them
better than Of late years. With his
credits cleared off the country mer-
chant. tradesman or what you care to
call him, will be in better position to
deal with the iobbers and Who'll esale
factories.
The jobbers and the wholesale dealers
will aSsuredly feel an impetus in their
orders. Already there are indications
of the great business that is to be done
this fall. Firm after firm has announced
shat their orders are double and in some
instances treble that of the correspond
ing time last year. All the jobbers and
wholesalers are working full time, in
many instances their entire staff is en-
gagged long into the hours of the night.
All this business can have but one effect
upon realty, and that is to send up
values. Said prominent real estate
man the other day: II am always con-
hdent of good trade when the jobberS
and the wholesalers are making money.
They are the men who invest largely
and speculate to certain extent in real
estate. When man sees big balance
Oh the right side of his ledger. what
can be more reasonable than that he
should pick up a desirable piece of
realty, business presidential property?
These are really the men with whom
the bulk of the realty trade is done.
The last three years they have been al
most solely occupied in making both
ends meet. In the stringency we have
experienced the last few years it has
been no easy thing keeping atlOat the
large 1obblng establishments in this
city. But the tide has turned. Our fin
ancial stability has forever been es-
,ablished; our standing is good all the
world over. With orders rolling in, our
merchants making money, what more
reasonable thing to expect than busi-
ness to boom in this city. OF course, it
would be foolish to anticipate that we
shall feel the effects of this right away.
am not looking for any decided move
ment in realty until next spring, and
then, mark my words, business will
simply hum"
The sentiments given above are those
Of one of the best posted and most astute
real estate men in the city, and cer-
tainly, when carefully examined, carry
with them considerable force. The job
bing and wholesale interests are really
the backbone of ST. Paul. There is GER
tainly the nucleus of manufactory CEN
ter, but only nucleus. A great deal of
talk has been let off about the need of
more factories, and it seems to have
dropped there. a spasmodic effect has
repeatedly been made to secure fac.
tories, but beyond obtaining one or two
new establishments, the work accom-
DliShed has been far below what really
might have been expected from so
much OratOry on the part of interested
citizens. Probably one reason, and, it
must be admitted strong rea-
son, for this has been referred
to the stringency in the money
market. Capital latterly has been very
shy, and people have been talking a
great deal before investing their money.
1t is only natural; human nature is the
same the world over; man cannot be
expected to close up several thousand
dollars for years, even to benefit the
city he has made the money out of. and
this is largely the case of three-fourths
of the moneyed men of st. Paul. With
brighter outlook, the chances for more
manufactures are better; citizens with
capital will be more willing to back
them.
The advantage of more manufactures
IN st. Paul is universally admitted. If
the city is to continue to prosper, its in
habitants must not solely be depend
ent upon the jobbing and wholesale
houses, and whatever public or private
Improvements may be undertaken
Something more is needed. and manu-
factories will alone fill the bill Nothing
will add more to the value of realty in
this city than an Increased number of
factories. St.Paul is we'll equipped with
street car facilities, largely owing to the
persistency and enterprise of real es-
ia te men, but something more is needed
than this. What is the use of providing
rapid transit to all the suburban parts
of the city and expect that the property
will at once be bought up at increased
prices and improved? 1t is absurd to
people to come. The immigration to the
city depends solely upon the opportunI-
ties offered for employment of the in
corners. There is and has been dearth
of vacancies, and the consequence is
the market has been glutted with peo-
pie, and intending settlers in the city
have gone further West, where the out
look was better for immediate employ
ment. There is absolutely no reason
why employment could not be afforded
for 100, 900 more people in ST. Paul if the
natural resources of the city were
developed. The situation of st. Paul
gives it unique position as the dis
tributing point for the entire North
west. All that is wanted is capital in
terested in manufacturing enterprises.
Let US have capital, and plenty of it,
engaged in such undertakings, and,
while the city will boom as it never has
done before, investors will be well re-
paid for their every dollar invested.
There is no earthly reason why gigantic
factories should not be erected here and
run successfully and at profit. The
West should and could be made to pro-
duce everything needed by its people.
J. r. Weide ,Jr. reports the sale of
lots II and Is, block 40, Summit park,
for $4,000, and lot s, McHenry's SUBJ
division of Hoyt's addition for $4,000.