The St. Louis Republic. [volume] (St. Louis, Mo.) 1888-1919, 1902-04-06
COOPERATIVE AUCTION SALES.

Big deals in realty were not infrequent
the last week, and this week is expected
to mark the beginning Of heavy spring
business.
Among the notable sales was the lot at
the southwest corner Of Finney and
Pendleton avenues. upon which officials of
the American Medical College will at once
build a new college building. and estab-
lish the John King Hospital, at a cost Of
$i0O.Oo0
In addition to this sale. which was made
by the Lincoln Trust Company and Kelley
& Co.. the Lincoln Trust Yesterday report
ed a $4,000 sale at the southeast corner OF
Hodiamont avenue and Horton place. three
blocks from the Worlds Fair grounds.
The property consists of seven stores and
ten fats. whose aggregate rental is $500
a year. The lot being l79xI02 feet. Jerold
Hyland sold II to Wayne ]. Stedelin.
As evidence of the value of ground in
the neighborhood of the Fair site David
Z. Leahy yesterday called attention to the
fact that a former l6-foot driveway in the
Hodiamont property purchased by Mr..
Stedelin has been utilized by a structure
that only cost A30, and this store Is now
renting for S5 a month.
On the tract of land which F. z. Nielsen
sold a few days ago for $4,000 TO amuse-
mcnt companies grading and sewer
ing work has commenced. Track laying on
the Missouri Pacific and Frisco Railway
lines adjoining the property Is progressing
rapidly. and Mr.. Niesen reports that nego-
tiations are on for another big sale of
ground in the same locality. Hotels and
apartment houses of a permanent character
will be erected.
Tomorrow the cooperative auction sale
in which all real estate dealers and invest
,,r apa frf.rastpd will hacip n = Tho Raal
Estate Exchange, and will be continuec on
Tuesday and Wednesday. Thousands OF
catalogues listing the rs pieces of property
10 be sold have been distributed through
the drug stores all over the city. and a large
attendance OF persons looking for spring
bargains is expected.
Yesterday the renovation of the exchange
was completed. Special seats will be pro-
vided for the ladies' who attend the sales.
and in view of the increasing renting val
ues OF property and the absence of even a
semblance OF initiation in the prices Of
houses and lots, it is believed that inventors
will realize he possibilities of realty maxi
ing a great advance this season.
1t is also said to be an excellent oppor-
tunity for the home buyer, who as a renter
finds his house expenses increasing every
month because of the excessive demand for
dwellings. The money market is in good
condition. which enables the a&nts to let
bidders have property upon a small amount
paid down and The balance in monthly pay
ments. about equal to what rent would be.
This Is n new feature in auction sales. and
one which no doubt will be taken advan-
tage of by the renter who has a regular
monthly income.
The first sale will commence at 10 O'Clock
tomorrow. Judge Sutton will WELD the
hammer, and his sonorous going, going.
gone will resound until the entire south
ern district is disposed of. The eastern or
central district will then receive his atten-
ton until all advertised is sold. The next
day the West End property will fall under
the hammer. and on Wednesday the North
End property will be sold.