St. Paul daily globe., 1896-04-05
LOCAL DEALERS TALK ENCOUR-
AGINGLY OF THE OUTLOOK
OF THE MARKET.
THE INQUIRY FOR PROPERTY
SHOWS THERE Is A LITTLE ACTIV-
ITY AMONG TIE PROSPECTIVE
BUYERS.
REORGANIZATION OF THE N. r.
Col. Newport Says 1t Is Going to
Have "a Beneficial Effect on st.
Paul.

Real estate transactions during the
last two weeks were still confined al
most exclusively to residence property.
w. c. Read was among the agents
who had observed a marked demand
for residences on st. Anthony hill,
south of Summit avenue.
People buy there" said he, Gin pref
erence to purchasing on the northern
side of the hill for the reason, chiefly,
that the neighborhood is likely to
prove more select and is surer of i'm
provement. Around about Crocus hill
residents own their own houses, and
are interested IN making as many i'm
provements as possible. Further to
the north a great many houses have
been built for rent. Casual tenants
occupy them from time to time-some
desirable as neighbOrs, and others not
so much so. They don't expect to stay
long, and they have little interest in
making the most of their surround
ings. Yes, residence property is be-
ing taken up now by a great many
men who realize that it would cost de-
cidedly more to build the same houses
even at the present prices for labor
and material. It's surprising how
many persons have the ready cash to
invest in a home after all these hard
times"
S. G. Pierce repeated Mr.. Reads
qualification at the numerous evil
dences this year of solid prosperity on
the part of many citizens presumed to
be in most moderate circumstances.
"The stockings of st. Paul." said Mr.
Pierce, have been filed up gradually
in spite Of the panic. and citizens have
been quietly selecting good homes to
buy when prices struck bottom"
1t would seem a trifie hazardous to
offer acre property in the suburbs to
the investing public just at ~"nsent,
but this is what Josiah Fairchild, a
veteran in the real estate business, did
last week. Mr.. Fairchild was sur
prised at the result. He advertised
some garden lots for sale, and immedi-
ately received a flood of inquiries, re-
minding him of the good old days.
After ALL" said Mr.. Fairchild, Its
always the way after a period Of de-
preston The country, which was the
last to feel the bad times, is the first
to feel the good times-another proof
that the farmer is to be envied in
spite of the comic papers. And, do
you know, 1895 was a pretty good year
in the country. Not only did our cous-
ins have crops too big to lie about, but
they were feeling prosperous and con-
tented. They were feeling sufficiently
sure of themselves and their prospects
to put up any number of new build
jnpS Tho email in, c+o 70
were improved very materially by new
buildings last year, and will, no doubt,
be still further improved this season.
The immense wave Of immigration
which has begun to come our way has
already had its effect on farming
lands. In the southern part of the
state farms are worth several dollars
an acre more than they were not
long ago. The gardener, without
doubt, is the next thing to a farmer,
and garden lots must appreciate when
farms are growing more valuable"
g
Col. R. M. Newport expressed him
self as certain that the Northwest is
ABOUT to witness return of remark
able prosperity and progress. The re-
organization of the Northern Pacific
railroad company will, in his opinion.
go far to renewing the DEVELOPMENT of
ali the states through which the road
passes. Especially will st. Paul, the
headquarters of the company, profit by
the new condition of affairs.
For years. said Col Newport. "a
constant stream of money, much of
1t from Germany, was scattered along
the line of the Northern Pacific. Lib
eral terms We're made to the thousands
of immigrants who were brought to the
Northwest by the extensive advertis-
ing Of the management Farms, mines
ranches, were opened up, settlements
begun and the frontiers of civfliza-
ton extended from the Dakotas to the
Pacific ocean. When the Northern Pa
cltlc went into the hands of receivers
all this development work was stopped
short. The company reduced the num-
Der Of its employees and the wages of
the employees retained. 1t began no new
enterprises and practically withdrew
its support from many enterprises al
ready started. Advertising of the
Northwest throughout Europe and the
East was continued only on a most
economical and reduced basis. Now
however, as the Frenchman saws. we
have changed all that The companv
has been put in a situation that will
Justify the most liberal expenditure in
the direction of developing the coun-
try, whose prosperity means a prodig
1ous increase in the market value of
the company's bonds and stock Ev
cry Wall street man recalls that it was
only the other day, almost, when MIN
per- as the brokers slangily styled
Northern Pacific preferred stock. was
as sure Of its regular dividends as
Northwestern or st. Paul These davs
will come again, for it's on Wall street.
Threadneedle street, at Frankfort and
the other financial centers that the Sc
rlous business of railroading is con-
Quoted. L understand that the Berlin
capitalists who hold so large a share
of Northern Pacific securities not onlv
retain their influence in the conduct
of the company's affairs but they are
convinced that the through business
of the transcontinental railroads, di-
vided as it is among so many different
corporations Zone of which at least
the Canadian Pacific-is backed by the
entire English exchequer), can never
be looked upon as the main reliance of
the Northern Pacific. Local business
is essential, for local business is a mo-
nopoly; and only by a liberal use of the
company's funds can the country be
settled up and local business Increased.
There is said to be over 1000, 900 acres
of the company's land all plated and
scheduled, and ready for the market.