St. Paul daily globe. [volume] (Saint Paul, Minn.) 1884-1896, 1895-01-06
REAL ESTATE.
CERlsTOPHER w. aORR.

Real Estate and Loans.
In giving my opinion as to the future
of real estate investment III st. Paul,
ut is meet that should give reasons
for the faith that is in me-" With the
evidence before us it is difficult to I'M
derstand how any one can doubt Of the
future prosperity of st. Paul. l shall
not go into statistics, but will make a
few statements. and hope every one will
Investigate for himself.
In 1886 st. Paul was really nothing
but an 0vergrown village; the most san
guine person did not conceive of the
vast improvements FROM that time until
this. In 1898 st. Paul in every
respect is city, increasing in
beauty and magnificent struct-
ures with each succeeding year.
New factories are being established, old
ones are Increasing their output; new
wholesale houses are coming in. the old
ones reaching out into new territory,
and for new trade; numerous colleges
and educational institutions are being
founded, making this great educa-
are coming here to reside and educate
their children. New continental rail-
roads have been built, and the other
roads have extended their lines into
new sections, opening up additional
trade for our wholesalers and manufac
tories. This state and the Northwest
tributary to US are being gradually set
tied up with thrifty emigrants; dlversi-
fed farming is being tried with good re-
suits to the farmers. All these things
Will assist in the building up Of our city.
Our real estate is at the present time
great deal lower in price than it should
be, even considering these generally
dull times. but it is owing to the fact
that people went heavily into debt in
1886, and purchased more real estate
than they could carry at the high price
of that time, and their being compelled
to sell unduly depresses prices.
Now, here is fact that l wish to call
attention to, j. e., that those people who
are now investing in our real estate are
shrewd non-residents, who recognize
the existing state of affairs and invest,
and when the prices are high they will
sell this same property at great adj
vance to these people who live
in st. Paul and are now afraid
to purchase. will make the pre-
diction that real estate will sell
for higher price in the near
future in st. Paul than it did In 1886
and 1887. Inside property has already
sold at higher prices than it did at that
time, and outside property will follow.
In Europe the increase in real estate
values in the cities has been enormous,
and when we consider the resources Of
this state and adjacent territory, and its
present sparsely settled condition, and
the likelihood of its development and
settlement, one can count to an abso-
lutte certainty on the growth of st. Paul.
1t is lamentable fact that but few
people in st. Paulare thoroughly posted
as to what we have iii our city in the
way of factories, business, etc., and as
to the resources of this state and adja-
cent territory, Those who are pessimists
in our city are mostly those who did not
have the foresight to sell part of their
holdings at an enormous profit in 1886,
but were too avaricious, and now think
that st. Paul is not good place, when
the fact is that they alone are to blame
for having oysrspeculated. The gen.
eral business outlook for the city is
good, and on that basis rest the profits
of real estate investments.
Iconsider that at the present time
real estate IN st. Paul is the best and
safest investment that one could make,
and prices are lower than correspond
ingly situated real estate in any other
large city in this country. In dull
times person can exercise some
judgment in purchasing. which he
Is not able to do when things
are rushing and people all eN
cited. Rothschild's old rule to "buy
when no one else will buy" applies to
real estate as we'll as anything else, if
person wishes to get it cheap; but only
shrewd operators act on this rule;
people generally not having the strength
of mind or judgment topurchase when
no one else is purchasing" but wait
until every one wants to buy, and then
they pay higher price. Any one will
make money by purchasing now and
holding on until a change in times
comes, for come it will, sooner than ex-
pected. will again say that now is the
time to purchase real estate in st. Paul.
sThere is tide in the affairs of men,
Which, taken at the flood, leads on to fort
une:
Omitted. all the voyage of their life
Sba1I n mis-
On such full sea are we now afoat;
And we must take the current when it
serves.
Or lose our ventures.
III y