The Saint Paul globe. (St. Paul, Minn.) 1896-1905, 1898-03-18
ARE HOLDING IT TOO HIGH
OWNERS OF WEST THIRD
STREET PROPERTY
the Lots Along the BIuff-One of
the Propositions for u Market
Temporarily Up Against Bar
rier-POssibIe That Satisfactory
Terms May Yet BE Reached.

The plan outlined in The G 10 b e of
Wednesday, looking to the exchange of
the present market house for other
property, including a site for a new
market house as well as one for a
public library building, with an addi-
tional consideration to provide for the
erection, not only of suitable markee
house sheds, but of a library building
as well, has received, in a quiet way
much favorable criticism. The G | o b e
is not at liberty, just now, to indicate
the plot for the proposed library site
further than to state that it is within
a radius of about two blocks from the
present market house, and conseque ntly
In the center of the city and accessible
by street car lines from all sections.
1t is understood that an option on
the property for the library site Is al
ready secured, but that negotiations
are not concluded IN connection with
that on the bluff ON the south side Of
Third street, between Washington and
Exchange streets. on which it is hoped
that the market house may be located
At the time Mr.. Benz submitted his
proposition for the establishment of the
| market house on West Third street, be-
yond the West Publishing companys
establishment, the statement was made
that all the land embraced in the tract
could be secured on a basis of moderate
valuation. 1t seems, however, that in
the negotiations for the property be-
tween Washington and Exchange
streets, some of the owners are inclin-
ed to appraiSe their property at too
high a figure to suit the real estate
agents engaged in the development of
the enterprise, thus presenting a bar
rier to the immediate closing of the
deal.
This is regarded as unfortunate, mas
&c al hot 6o
question is totally unadapted to i'm
provement in any other way except by
the expenditure of an immense sum Of
money, and this is not likely to be
forthcoming in the near future, If at
all.
1t is questionable to the minds of
many who have been asked to express
their opinions on the subject whether,
in the event Of the location of a mar
ket at any point along the bluff, the
property contiguous thereto will be
materially benefited. Indeed, there are
some who argue that the establishment
of a market house anywhere must et-
feet unfavorably the value of all prop
erty Immediately adjacent, unless it is
of such character as may be utilized
for store uses in direct connection with
the produce commission trade.
1t is pointed out, therefore, that the
owners who are holding out for eX-
cessiVe prices can hope to gain nothing
thereby, while they succeed in defeat
ing a measure of great benefit to the
entire city, inasmuch as, if the proper
ty cannot be secured for market house
purposes, it is likely to remain idle
and unproductive for many years to
come. One of the gentlemen familiar
with the project said yesterday:
This is always the way here in st.
Paul. An owner will hold on to his
property and go around complaining
of the burden he is carrying and the
general worthlessness of city real es-
tate; but let somebody come along and,
in buying property contiguous, make
him a reasonable offer for his, up goes
his price, and on it he stands until
the negotiators drop the business and
seek some other place for improve
ment.
IT have seen this done so often here
that it makes me sick. This project
is a good one, provided it can be car
ried out legally, which seems to be
the case. and it will, indeed, be an
unfortunate thing for the city if 1t is
at last defeated because of the obsti-
macy of owners of property which is
practically worthless for any other
purpose"
The parties interested were active
yesterday in trying to come to terms,
and it is understood that concessions
calculated to effect the closing of the
deal were deemed not improbable.