The St. Louis Republic., 1902-10-05
REAL ESTATE MEN
FAVOR 4 SUBWAY.
Rapid Spreading of Residence Dis,
tricts Demands Greater Transit
Facilities, They Say.
BRISK BUSINESS IN REALTY.
Inquiry for Home Sites Continues
Strong and Many Sales Are
Made at Handsome
Prices.
BRISK BUSINESS IN REALTY.

Increasing demand Tor residence property
and the opening of suburban subdivisions In
the FAR West End. are causing real estate
dealers 20 interest themselves IN rapid tran
SIT problems. II Is believed that several
financial agents have approached capitalists
with proposition 10 give 81. Louis an un-
dersrCund railway.
Samuel Bowman. who recently promoted
belt line railway at Louisville. Ky. stated
rapidly that a subway transit system Co the
far West End would pay as soou a. COM
pleted. He believes that Al tht present rate
90 increase this city viii add 5loc,o 10 her
population IN few years.
The. extension OF the residence districts
In the western. northwestern and southwest
ern parts OF the City said he. ia progress
Ing 20 rapidly that better transportation
facilities are needed now. In a short time
they VIII be vitality necessary
g. g. Nichols Of the Nichoiis-Ritter Real
" ami Financial Company, who represents
a syndicate OF Eastern millionaires, recently
gave his Views TO The Republic ON the
question OF building az underground rail-
way. He i making 4 STUDY % the mat
ter and says that such an enterprise prop-
ably would pay from the day the system
began operations
Neither Mr. Nichols nor Mr.. Bowman
admits that he Is negotiating with 1nIn-
ciers with any definite railway scheme IN
view. Discussing the question in d general
way MT. Bowman said:
ENETE one recognizes lEe Iaek tnat nrNL-
class transportation facilities are the one
important factor In creating values for city
property suitable for residence purposes,
and II Is for that reason that the area
devoted TO residence purposes has been con-
stantly growing coirc;dent with the cxten-
sion OF street railway facilities
CAR LINES DEVELOP CITY.
Fifteen years ago the western terminus
OF the Olive street line was at a point cd
feet west of Grand avenue. which point had
been Up 10 a short time previous thereto the
western limits OF the city. The motive pow
er employed on the street cars at that time
was the famous Missouri mule. and the time
required TO make trip one way was thirty
With the adoption Of electricity on the
surface lines in this city real rapid transit
has been inaugurated. and as a result the
residence district OF the city now extends
vest Of Kings highway.
1t Is proposed 10 furnish the people Of St
Louis with facilities for even more rapid
transit than that Gt present are had on the
surface lines. by constructing an elevated
railroad. and while this may become = valu-
able addition IN developing realty values at
points distant from the business center. II
has its disadvantages
Any one who has recently visited the city
OF Boston has noted the extraordinary con-
venience and splendid service rendered by
the underground lines. The city OF New
York has recognized this fact BY authoriz-
ing the building OF subway at cost OF
$4,000 90. in order TO furnish firstclass rapid
Island. No doubt every leading city OF this
country will eventually adopt the same sys-
with the development; OF these facilities
values IN the western part OF s.. Louis viii
be largely enhanced and very larSe area
Of land made ayaliebie for residence pur-
PC ses. all OF which WI be needed by the
addition 10 our population brought about
partly by the Worlds Fair TO be held IN
this city in iSO4, and chiefly By the tremen-
tory tributary to this city. which. within
the next ten years win add not less than
RT-sy WEEK N REALTY
Inquiry for property continues very
brisk. and the volume OF small Saies last
proved residence Iot- were sold. and in oil
cases plans FOR new houses were announced.
The Mercantile Trust Company hiss sold
a block OF ground n North St Louis TO an
Eastern manufacturing company which
proposes 20 build large plant In this city.
Details are withheld. but 1t il stated that
be paid FOR the land
In ne S9 9y,5 t5 s,r, oestosS ~, r1 n1isns GINS
eral stories probably viii be added TO the
structure A year ago this lot sold for SSo1O
ara the present building only cost about
1t is stated that the organization Of the
syndicate by Holbrook- -Blackwelder Real
Estate Trust Company 10 build a fiooto1
hotel al the northeast corner OF Olive and
Twelfth streets Will soon be completed.
The fact that this real estate firm Is be-
hind the enterprise causes realty men 10
feel sure that the hotel viii soon be built
and win be OF the right kind That X s.
badly needed and the locati Is excellent
Is admitted by all the agents.
Many plans for new fats are being pre-
pared. A client OF Fisher & Co. proposes to
erect a series OF fine observation-disclosures in
the near future.
The sale OF lots I'm the beautiful South
ampt0n subdivision continues TO attract
large crowds OF humeSeekers. To-day the
Mercantile Trust Company win have an ex-
ira force OF statesmen on the grounds to ex-
plain the attractive terms and point out the
various locations.