The St. Louis Republic. [volume] (St. Louis, Mo.) 1888-1919, 1901-07-14
involving sums in the neighhorhood of $40.
Lot, which have been closed.
Permits for New Hutldinga.

When the money now involved in building
operations Is added 10 these. the record
is far greater than at any time in the his
tory OF St. Louis Permits were issued two
days ago for the erection OF the Pontiac
Realty Company's building at Seventh and
Market streets. p cost $4,000. Work is now
in a fair stage OF advancement on the new
Bank of Commerce building. to cost $500.
co and on the kennard building. 10 cost
$4,000
Building is being rapidly pushed on the
Mercantile Trust Company's structure at
Eighth and Locust streets. which will cost
sea9:Gco and S. H. Leathe is said TO have
perfected plans for his mammoth mcrcan-
tile house on Twenty-first and Washington
avenue. which will cost 100000. Numbers
of buildings costing less are going up i'll
all portions of the business section. while
the activity in fats. apartment houses and
residences was never greater.
st. Louis shows an increase OF SSi per
cent in the, value of buildings erect.
cd In June of this year over the value
Of structures erected last year in June.
Of 26' per cent, while Cincinnati is
third with a gain OF 15S per cent. New
York shows a gain of per cent. Philade~
phia. Brooklyn and Minneapolis all show
decreases in the amount of building for
this year over last year. The average per-
centase OF increase all over the country, in
cities of any Importance. Is q per cent.
situation Plenses Realty Men.
The outlook for real estate in St. Louis is
regarded with great satisfaction. by the
solid type of real estate agents, who dread
any appearance of boom in property,
rreferring TO see steady and natural in
crease. The upward tendency of the ST
Louis real estate market has been g source
OF great satisfaction to them. marked as it
has been by the utter absence of anything
approaching an unnatural iise in values.
Lorenzo f. Anderson OF the Mercantile
Trust Company stated in an interview three
weeks ago that st. Louis real estate had
been for years below its real value, and
any city Of this population in the United
States or Europe
THE increase in values which Will come
perm n 1 Dda Win be merely ns the
cost of realty here to ITS natural values.
| There VIII be no boom here. as no ST. Louis
an wants to get a second Wichita, Kas..
here.
The plan for building and exhibit for
realty agents at the Worlds Fair. sus-
gested by L. f. Anderson last week, has
created great interest. Such an exhibit. it
is believed. would prove of unboundetl In
terest. particularly to foreigners and stran-
gers: and would do much TO attract the at
tention of outside capital to this entire part
of ,he country and to st. Louis particularly.
Mr.. Anderson said yesterday that he had
| received many letters from out-of-town
realty dealers approving his scheme and
commencing it mos; highly, offering to 90
| their share towards making IT a successful
| exhibit.
Real Estate Exhibit Features.
| That portion of the plan which is receir-
| ing the most attention is the idea of repre-.
| senting in miniature all the large cities of
| the Louisiana Purchase. Displays of his
| torical documents. relating to trades in
property now worth many millions of dol
| lars and purchased years ago for small
sum, would be an Interesting exhibit. The
| site of the Union Trust building was pur-
| chased about 1913 for 81 an acre, while prop
| erty. further west was sold in arpents eN-
! tending from Ninth street to jefferson ave-
| nue.. not being considered worth enough to
1 split it into smaller sections
The comparison in value between the site
F, of the Century building at present. pur-
! chased a short time ago for s1,G0o,@O, and
| the value of the same tract ninety years
! would be an interesting study IN property
/ values.
| In addition to instances already quoted rs
| to the activity of real estate in this city Mt
present, the increase of capitalization by
| the Mercantile Trust Company last week is
"A striking instance Of the development IN
real estate here. At meeting Of the stock
capital stock of the institution. from 9. 5o0,-
600 to s3.o0o.Oo0 The surplus will be 5000
900. making this company the largest imam;
cial rus. company. in point of capital and
surplus, in the United States west of the
Allegheny Mountains.
The company last week reported great
activity in the market, In spite of the excess
| siye heat and the fact that many Of the
large Investors In real estate are out of the
city. The effect OF the increase in capital
stock last week was to send the price 81
stock In the company from $SS4 to SNO Pei
share.
Exchange to Help Fair Work.
\ Members of the Real Estate Exchange are
preparing plans and methods OF assisting III
Worlds Fair work and in formulating rules
for the next two years. A regular meeting