The St. Louis Republic., 1901-06-09

cost approximately Ssaeoo and viii be eight
The Si structure ~ As 1il ~ oootsin is.Ooo square
ment being reserved a. q retail depart,
will be removed about August l.
New Churches Are Under Way.
Work on new churches will be a feature
Of the next year two g casnol,s chSTSnes hinn in
prospect for the immediate future. The new
Cathedral will be located at Lindell boule-
most imposing edifice. The new church OF
st. Marks Parish will be located at Page
and Academy avenues. and Will be one OF
city. Plans have been completed for this
church. and work on the foundation has
already commenced The corner stone Will
be laid July by Archbishop Kain. and II
Is believed that IL will be completed within
a few months. Its approximate cost VIII
be s,l eco
The new St, Johns NJ. F. Church. South.
at Kings highway and Washington boule-
ward has often been described. and will be
city when Completed. The new Italian
church probably will be decided upon July
I. on which date the trustees meet to Dc
termine whether "A new church shall be
built or whether TO purchase one OF several
which have been offered them.
Many sales of Residence Property.
Sales of residence property figured large
ly IN last weeks transactions. the tendency
this week being toward high class houses
! and residences rather than the moderate
class, as was the case week before ias,.
The announcement that James Camppeh.
the broker. had purchased the Siegrist
| made by the Mercantile Trust Company
last week. confirming the rumor to that
effect which was current when the prop
erty was sold several weeks ago.
The northwest corner OF Olive street ana
Newstead avenue was sold last week by
Fisher & Co. on behalf OF r. J. Medley TO
| a client for S2o.eco The lot faces l@s teet
| on Olive street. and has n depth OF 10. ieet
on Newstead avenue. ]. l. Epstein made
several sales Of importance incinains three
Rumors have been current the last week
| Of several deals which Were reported pend
| cen. now in the hands of the Mississippi
Valley Trust Company. syndicate Is SAID
| to be negotiating for site. the deduction
being that the place Is regarded as de-
| sirable speculation for the Worlds Fair
| year. Mr.. Benoist of the trust company.
| however. stated last week that the deal
must be in progress on the outside. II at
all. as the company had not been ap-
preached on the matter.
Several rumors are current concerning
| the northeast corner of Twelfth and Olive
1 streets. this property being regarded as
| likely spot for sale in the near future.
| The sale of the southwest corner for $22e. 800
hut two weeks ago. has created interest in
| this particular portion OF Olive street, and
the site IS one Of the few desirable ones
| on the market soon. At present the corner
is occupied by od-fashioned brick build
|
Building Shows Great Activity.
The activity in building operations and in
the transfer Of realty has been more marked
this last week than has been the case this
| year. Assistant Secretary Schieie of the
| Real Estate Exchange has prepared conf
parative statements of building operations
for the last five months of this year. and
| for the corresponding period of 1900. The
l increase is very marked.
| Tho total number of permits issued for
brick and frame buildings in 1850 was 9i7
4 nf a
year the months of January. February.
| March. April and May saw LILO permits is
ing in that '' period was IS s2.sseess: for this
! year the amount Is si.9lS.s2l. or more than
double last years figures.
| Real estate transfers for the month OF
| June to date number 169 ard amount to
s6ls.O90. The number of deeds OF trust was
ios and amounts to si2i.ssi. The record for
for the few days which have passed.
| Members of the exchange will meet to-
| morrow at o'clock to consider various mat
| tiers of interest, which have been brought
| to their attention of late. Discussion will
| include the proposed daily meetings to stir
| up interest in the realty business. and to
| bring the real estate agents into closer con-
| tact
Daily Exchange Meetings Favored.
Many members Of the exchange favor
| the project. believing that it will have
beneficial results in every way An applica-
| tion for active membership from the
| Picquet Bros. Realty Company is now
Il
on at the next meeting. Several sales are
| advertised to take place on the exchange
fioor. among the number being Nos. iZis
| AID LTD Pine street. lot i0xl09 feet, which
| will be disposed Of next "Wednesday. June ".
Prospects for the future. as indicated by
fui' ard n Is believed that an unprecedented
record will be established in this city. An
officer of the Mercantile Trust Company,
l speaking Of the matter. stated that real es-
tate affairs are in a most healthy condi-
| ton.
"The last week in St Louis real estate. IT
| he said shows that business and residence
| property Is on the boom. The Worlds
| Fair has a good deal to do with this. as st,
| Louis Is securing a wonderful amount OF
| advertising by the national discussion Of
| the Fair. and people all over the country
| are realizing that the Fair will greatly in
| crease realty values.
"Then there is the fact that for a city
] Of its size St. Louis has been insufflcientiy
| housed. Residence building. up to a short
time ago. was almost at a standstill for a
| space of two years. The house hunters
now. in the improved condition Of the
realty market. are confronted with n very
meager choice. and the story Is the old one
"A cause Of the building inactivity was
the high price of materials and apathy on
| the part Of builders; but that period Is
over. People are buying and building in all
l parts Of the city. All property will profit
| by the Fair-residence property because OF
the vast influx Of permanent and floating
| population that any such event would nat
rrally attract to the city. and the neces
II
| property. because business houses and man.
ufacturers are quick to locate where there
| IS healthy local activity
Il Outside Capital Interested.
Asked concerning the deals OF the last
week, he said:
I'VE have not only closed important deals
| such the Century building purchase, but
| inquiries are pouring in on US from lcca
| and foreign capitalists. The Century build.
| ing is the largest Office structure in the
| city, and is by many thought TO be the
| handsOmest Its owner. the Century Fec
Realty Company. pays an annual rental OF
$4,000 for the ground.
Part Of men of wealth in the last few years
| TO invest a portion of their wealth in sub
| stantial and handsome homes in our resi-
| dence districts. with the result that We are
| becoming a city OF beautiful homes.
l THE lease to the Iammert Furniture
| Company is an important deal, indicative
| as II is Of the northward trend of activity
| in real estate for warehouse and factorJ
| SITES Many inquiries are received daily BY
| the Mercantile Trust Company for sites In
North ST. Louis. and all these point to the
prosperity Of that section Of the city.
| Parties looking for factory and ware
| house sites have come to realize that for q
few cents more per square foot property ir
, smaller town. securing as hey do advan
, | tage in simplified arrangen - ,, employment
| Of efficient labor. rapid transit and the
| many other advantages that go with 9
| city,
Il Mercantile Trust Company.