The St. Louis Republic. [volume] (St. Louis, Mo.) 1888-1919, 1900-07-01
HOPEFUL SIGNS
IN REAL ESTATE.
Business Showed Decided Improve
ment Last Week. With In
creased Transfers.
GOOD PROSPECTS FOR JULY.
Gossip About Union Market and
Old City Hall Offers-Some
Of the Weeks Big Sales
Agents Reports.
GOOD PROSPECTS FOR JULY.

The real estate business Is picking up.
| The volume OF transfers, both tho number
| and the amount involved. increased steadily
| last week, and II Is confidently expected
| that July will be one OF the best niidsrm-
| mer months that St. Louis has ever had.
| Wednesday was the big day of the week.
On that day forty-nIne transfers. aggregat-
| ing slSs 0oo were recorded. Most Of them
| were transfers to small home buyers. which
| fact Is taken as one Of the most encourag-
ing signs Of the times.
Taken all together the month OF June
was not so bad. There were 5si transfers
and the total amount involved therein was
sl.sis.i1i. or IN average Of something more
than $50. When II is considered that the
street railway strike wa. on all month. and
that all lines Of business were seriously af-
fected June Is not TO be called a bad month.
The street railway strike has undoubted-
" played big part in the real estate mar
ket. IL has prevented the contamination Of
many deals that had been brought to the
very verge of closing: IL has scared off,
buyers and discouraged sellers. 1t has had
n bad effect all around and there Is not a
dealer who does not wish most heartily
that It was ended.
The question of what IS to be done with
the Union Market site II the offer for 1t
IS accepted by the city is not so much a
source Of gossip just now 1t has been
for fortnight past The guessers have
exha listed their number of guesses, as to
what use the prospective purchasers intend
to make Of the property. and are either
satisfied that they have guessed properly
or have given up the task of settling the
matter In advance. The interest In the
question OF the sale OF the property has
not abated. however. The general impress
sion seems TO be that the prics offered
4 fair enc. considering the benefits that
would accrue to the city from the improve
ncnt Of the block. and the added taxes
that the municipality would receive. This
Is not a unanimous opinion. however. A
few dealers believe that tho property should
bring moro. The principal point of COM
ment Is in the fact that the would-be pur-
chasers are keeping In thu dark. II is con-
tended in many quarters that. while a man
who buys. property has. rs rule, the
right TO use IL as he chooses. still the
surrounding property owners have COM
muJity interest In the matter. and are to
extent entitled TO consider ton. at
least information as to what use IL TO be
made Of the property. 1t is pointed on;
that the citizens. the real owners of
the property. and also entitled to the privi-
lege of knowing TO whom they are to sell
the property.
The offer Of sl2s.ol0 for the old City Hall
Is also interesting real estate men. This
cUer was ulale friday Dy Mr.. A. ID. brown
of the Brown Shoe Company. In brief. he
makes bid OF $1,000 ca an 10 be kept open
for six months. and states that he Is per-
fectly willing for the city to accept any
higher bid that may be offered meantime.
There Is some speculation as to JUS. what
property MIR. Brown offers $l2J, 900 for. Theo
HeT1meimann, Of Apple d Hemmel.nan
points out these facts: The city owns, not
only the site of the old City Hall. at Ijiev-
enth. Market and Chestnut streets. running
west ii3 feet "a inches to a narrow alley
hint n
which stands l.. c. Bohle's livery stable
and number OF other buildings on Market
street. This ground fronts 14l feet "a. inches
on Market ana Chestnut streets. The west
ern division Of the ground Is leased, and
the lease viii not expire for some time.
The eastern part contains only the Old City
Hall. Some years ago, shortly after 1t had
been decided TO build the new City Hall.
this entire tract Of property was sold TO Mr.
DaIhei Cathn for something over s2S.g0.
but the Municipal Assembly refused to
confirm the sale, ccntendlng that the price
was too small. The entire tract has a
frontage OF 3i5 fee; on Market street and
on Chestnut street. IL fronts 221i5 feet on
Eleventh street. and is 265 feet and Ii inches
vice al It's western end. The offer OF Mr..
CatEn was, therefore. equivalent to about
$50 a front foot. II Mr.. Brown offers si25.-
co for the entire tract, his offer IL less than
sl3s 'front.' foot; IL. as Mr.. Hemmeinsann
thinks, II Is for only the site OF the old
hall. IT Is approximately the same as the
oifer made by Mr.. Catlin, with this excep-
tor-tiIat the offer OF Mr.. Catln took in
the whole tract, good and bad, while that
Of It.
Sometime ago. after tho rejection q ~.