St. Paul daily globe., 1896-04-19
CASH DEALS ARE THE RULE
THESE DAYS, AN INDICATION
OF HEALTH.
ABSTRACT BUSINESS GOOD.
MANY MORE TITLES BEING LOOK
ED UP THAN FOR MONTHS
PAST.
RESIDENCES ARE IN DEMAND.
They Seem to Constitute the Bulk of
the Present Movement in Local
Soil.

No more positive proof could be cited of the
substantial basis on which local real estate
transfers are now being made than the fact
that with few exceptions these transfers are
on a strictly cash basis. The man that pays
cash is safe in any event. Whether business
is fourishing or depressed, whether taxes are
light or excessive, he can hold his property
with little difficulty. 1t is natural that an
embarrassed owner should complain of ex-
cessive taxation, for every dollar he saves
is an appreciable relief. 1t is not taxes but
interest that takes from the capitalist his
landed property, from the family its home.
Therefore the majority of purchasers during
the last few months have paid for their realty
outright. Having no mortgages to eat up
their income, they are secure in their pos
sessions. Moreover, cash transactions indi-
cate that the new proprietor has bought the
land and buildings to hold them. He is con-
vinced that he can, at the price paid, secure
an adequate return his investment from
either the use Of property or the rental 1t
will produce. If he occupies the property
himself, he is valuable addition to the COM
munity, much more so than the transient cit
izen, with nothing to bind him to a fixed spot,
nothing to interest him in the municipal
prosperity, If the new purchaser rents MS
acquisitions he has acquired almost as vital
an interest in the success of the city as the
resident owner and, having invested a large
sum for more than temporary purposes, he
can better afford to improve his purchase.
But the man that pays a fraction of the cost
price in money and gives a mortgage for the
ha1o &c alxy in 10 q
large sum in improvements, nor does he
usually desire to retain the property longer
than may be necessary to sell it at higher
figures The difference is that between in
vestment and speculation. In cities whose
prosperity is upon as varied and substantial
foundations as that of st. Paul, real estate
investment is certain profit to both the in
vestor and the community. In all cities real
estate speculation ends in equal disaster to
community and to speculator.
Accurate indices of the real estate business
are the abstract offices. The county abstract
clerk, E. w. Bazille, said yesterday to a
G o b e reporter that there was a most ap-
preciable increase in the number of abstracts
passing through his hands. He felt confident
that dealers no longer suffered from the utter
one Of the best real estate months OF the
year, and it would doubtless augment the
realty transfers in a most gratifying degree
He had observed that a majority Of deals
were on a cash basis.
]. A. Soucheray, manager of the ST. Paul
Abstract company, reported that his company
were handling more transfers this spring
than for many months. The unfavorable
weather had Of
with the inspection of properties, but few
days Of bright sunshine, such as prevailed
yesterday, would give a decided impetus to
the profession Of the corner lot artist Nav
had always been one of the best months in
every year. 1t would he thought, prove so
in 1896. Most of his transfers had been for
cash.
Jules Lambert Jr., of the Ramsey County
Abstract company, said that he believed real
estate was surely picking up. His daily rec
ords indicated that beginning with early
spring transfers were undeniably more
numerous than during the same period last
year. He thought that the renewal of a great
immigration movement would react promptly
and favorably upon city trade and city prop
erty. He had no reason to doubt that the
usual May activity would be repeated this
year.
Besides the element of cash transactions
the real estate sales of the past week reveal
no feature especially noteworthy. Transfers
were naturally restricted by both unfavor-
able weather and the prevailing political &C
tivity.
few over cautious people have been un-
willing to buy until after the city elections.
Then they would know the probable policy
of the municipal government for at least two
years ahead. much larger number of DOS
sible purchasers are those well-to-do citizens
who are busy with the campaign and have
no time nor thought for anything beyond
politics and their daily business routine. In
May, however, as ION Broadway" tits al.
ways bright and sunny weather." The most
engIossng of this years three elections will
be ended May 8 Just as in the wheat mar.
ket the bulls can confidently count upon g
spirited bulge" during the fifth month OF
the year, so property owners at this most
enterprising period can safely anticipate q
comparatively brisk and profitable market fol
houses and for lots.
The transfers of the week have been
mainly in residence property Never before
has it been possible to buy good residences
In st. Paul cheaply as at present
During period of rapid growth everybody
builds. 1t seems questionable to buy an.
other mans house. But more conservative
times teach people that a house like a horse
or diamond, is usually none the worse. an6
always much cheaper for being secondhand
Yet there are always many individuals wbr
have peculiar hobbies about a comfortable
residence. These persons cannot sleep COM
fortably in their own homes unless the,
have built 1T themselves, and they can un
der no circumstances find another mans
house that accords with their own ideals
Women, especially, find prolonged Joys in
planning how many windows will adorn the
sitting room" and exactly how the mair
hall is going to 'look to a visitor" Particu
lar people cannot be blamed for paying sew
eral thousand extra that they may hav,
everything to suit themselves.
Among the lots sold last week was on,
fifty feet wide on Grand avenue near Oak
land, for $4,000, and forty-foot lot on Grand
near Milton, for $1,000. AS straw indicatin.
value, 1t may be mentioned that the tw,
lots were sold at only % per cent off, boon
prices. This is certainly a good proof tha
desirable lots have shrunken in value fnucI
less than outsiders imagine. Both these lot
are to be improved at once. A frst-clas
residence was begun during the week n,
Crocus hill, and another on Portland avenue
near Victoria.
The house hunter has been abroad in tn
land despite the unfavorable weather. He ha
1raeed hecoIne more numerous this week. Here
to1ore he has wandered about with desire T.
his eyes and mo" upon his lips like
woman out shopping. But May day is an
preaching, and the house hunter has becom
more decisive and profitable. He has aske
generally for the cheaper grade of houses
Those that rent for less than $40 a mont
have, therefore, become so scare that the
arc now worth very little more than the
werc a few weeks ago. Not many person
ars seeking homes this spring in apartmen