St. Paul daily globe., 1896-04-26
REALTY AND RENT
A SINGLE SALE THAT HAS EN-
RICHED REAL ESTATE
ST. ANTHONY HILL TRACT
PURCHASED BY D.. C. SHEPARD,
WHO NEVER TOUCHED ST.
PAUL REALTY.
HIS CONFIDENCE IN THE CITY.
A Week That Has Been More En-
couraging Than Amy for
Long Time.
HIS CONFIDENCE IN THE CITY.

A single sale during the last week has
enriched every real estate owner in st.
Paul. This sale,'' said prominent banker
and large holder of local realty, lis worth at
least 100000 to me alone. It's Importance is
not in the amount of the property directly
involved nor the amount of the considera-
tion, but in the character, the standing, Of
the purchaser"
The credit of giving the biggest impetus to
real estate that the business has received
since the boom belongs to Smith & Tay-
lor a firm whose activity has never lessened
because transfers were few, whose confidence
has never diminished because conditions
were temporarily discouraging. 1t is their
sale, in behalf of Philadelphia parties, Of
100 st. Anthony hill lots to D. c. Shepard, Of
this city, that has awakened every broker in
st. Paul. For not a wide-awake business
man, whether in or out Of real estate, but
realizes the peculiar import of this transac-
tion.
Mr.. Shepard in the first place, is not a
speculator. Like all of his nationality, he is
a conservative of the conservatives. What
Mr.. Shepard has bought for 81 is usually
Wcrth $1.10 at the least. Especially has he
been afraid of st. Paul real estate. During
the past ten years or more, during all the
period of widespread investment and specula-
tion, he has never purchased foot of local
land beyond his own residence property.
Now, however, Mr.. Shepard, the habitual
real estate bear, has become convinced that
st. Paul real estate can only go way. If
he were a speculator he might express his
convictions by remarking, figuratively, "shes
cofe 70 aonf yin
But being always an investor, he has bought
st. Paul property for cash, and he has paid
for it cheerfully, for he now admits that it's
the best investment capitalist can make in
the Northwest.
Heretofore, while avoiding city property
he has bought freely of farm lands through
out Minnesota. The unprecedented demand
for farms this spring reminds Mr.. Shepard,
it would any astute man, that the time
to sell is when every one wants to buy. He
is, therefore, selling his farms, and he has
just begun to buy city lots His observation
and inquiry has convinced him that the ac-
tivity in farm lands will shortly be followed
now, as in the past, by the activity in city
realty. He does not expect to see this reac-
ticn of the country upon the town result in
a sudden rise of city values, but he feels
certain that the rise will come without long
delay.
The property purchased by Mr.. Shepard
consists of about 100 lots each, 40 by 12o
feet, lying in Browns addition, just west Of
Victoria street, and fronting on Marshall,
Dayton, Selby, Hague and Laurel avenues.
The combined lots are equivalent to between
three and four city lots. portion of the
ic cti1 ad md oft Z io
yet improved. Yet on all sides are improved
lots. The streets through the tract have long
been provided with every improvement ex-
cept pavement. The lots are all dry and all
graded. The Selby avenue cable renders
them most accessible. For these reasons the
price paid by Mr.. Shepard, about 100000, is
in itself conclusive proof that the property
will never again be sold at so low a figure.
Smith & Taylor acting for their principal,
will begin beautifying the tract. The
plating will be completed, the streets i'm
proved and boulevarded, trees will be planted
and the lots rendered in every way attrac-
tive. Then they will be placed on the mar
ket for the benefit of individual purchasers.
The market for real estate during last week
continued to show underlying strength with
out marked activity. The weather was some
what more favorable than during the preced-
ing week, but until sunshine is daily GER
tainty purchasers will not feel like planning
trips beyond the business center. The in
creasing interests in the city election continues
to keep the minds Of investors off of possible
bargains in realty. But sales for cash are
still characteristic of the market This feature
is altogether encouraging. For as Val j.
Rothschild said yesterday, real estate values
always increase in proportion to the frequency
OF cash transactions"
But as yet, which is additional reason for
congratulation, the speculator is not in the
market. Buyers are investors. These invest
ors are in many cases laboring men, who have
laid by considerable sums in spite of the hard
times The bulk of the transfers is of i'm
proved residence property. There appears to
be little difficulty in disposing promptly of in
side residence property, so long as It is Of
.fered at a low price. One agent reported yes
terday, for instance the sale Of an excellent
house and lot listed with him only two days
before, and similar transactions of late were
mentioned by other dealers.
Rents are becoming a trife SITTER" under
the influence OF an increased demand Many
inQuirers who delayed their choosing while
$hSAS was piShly VI llIle TO look ABOUT, now
see the desirable houses going fast and are
forced into taking a $50 residence since it is
hopeless to look for a similar house at s25
The number of choice houses still to rent is
much diminished, and those who secure new
home before May 1 will be fortunate if they
get what they want without unexpected ex-
penditure.
Farm lands continue in brisk demand Yet
the activity would be even greater if the pres
ent were not seeding time in this state Many
farmers who have rented their lands and pros
pered are buying farms of their own But
until they secure their new lands they must
remain on the rented farm, and until thew
have finished their seeding, they will have no
time to look over the agrarian bargain coun-
ter The weather would have been more con-
ducive to actual transfers during the week had
1t been less coy and deceving But inauirers
are making life a happy burden to the owners
and agents of agricultural acres. There is
now no doubt that more farms will be pur-
chased this season in Minnesota than during
any previous year since Capt Jonathan Car
yer secured a quantity of unimproved property
Mt hed-roclk prices.