The St. Louis Republic. [volume] (St. Louis, Mo.) 1888-1919, 1902-12-28

Real Estate Exchange. yesterday submitted
his annual report. which shows that realty
values have advanced greatly this year
while conditions warrant the prediction of
still greater progress in st. Louis. Mr..
Schic!e says:
The record Of the real estate business o.
s.. Louis during the year just closed is one
which car lie contemplated with much sat
isfactiun. The record FOR the year has. al
things considered, been better than that OF
1871. as the statistics accompanying this
report VIII verify.
Transfers were greater in number and
the aggregate value recorded was about
100000 more IN 1862 than recorded durins
the year previous.
The character Of the property sold also
! affords f.od for study. The home buyer
the purchaser of small lots for improve
meHt. rs well as the investor for perlna-
Icnt Investment or speculation, M,rs lnucH
in evidence, and although the real estate
business vas not equal To the expectations
Of some of the members of the Exchange
il IS adCli:ted that the increase in transfers
ana general inquiry SHOWS a heaiIhs
growth and a much larger business and a
more active market is predicted by ali for
the coming year.
RAILROADS As REALTY BUYERS.
The feature gt the year. from a real eS-
tate STANDPOINT. was the entrance Of rail-
rad companies into the real estate market.
who. seeing the future OF the city ana the
s-+N illLF1t~ ~ u. l[BI4H al a AiHS-
point, have been excellent customers IN the
real estate market.
Quoting from this report in these column
Of "A year ago: st. Louis is receiving
more attention at the hands Of the trans
puTtatOn interests. Switching fCci tiles are
beng enlarged. yards lad OUT. terminals
a'rplified and belt lines constructed and
under way t. meet the needs FOR the con-
centration and the rapid handling or
freight. so necessary TO the manufactures.
merchant ana shipper; The wholesale job
Ling interests have during the last year
turned their attention more assiduously to
these needs"
1t is not an idle prophecy. Judging from
the buying that has already been done. -
say that the railroads Will have invested
in St. Louis realty several million d&iiars
within the next twelve or eighteen months
and, as money paid to property owners by
railroad companies. stays IN this class %
investment, It is generally reiuvested in
real estate. thereby adding that much more
capital 20 the building up and identifying
The Rock Island. Wabash. Burlington.
Keokuk. Terminal Railway Association and
other railroad companies have been liberal
purchasers.
With the entry Of the railroads into the
St. Louis real estate market the advent Of a
Formidable group of buyers has put new
01iry has been started On the East, North
ard South SIDES for charged yards near
Union Station. for wider facilities along the
e-.i"S along the river frCrt from the Chain
Of Rocks t. Jefferson Barracks.
MILLIONS INVESTED.
Millions Of dollars is being expended by
TIE railroads -Cr their scheme of enlarge
mcrt 81 St. iCuie, ara the appropriations
announced have already had a material cf-
feet in enhancing values of real estate and
causing a westward trend among the bust
n"TS hJuses cast Of Second street. who are
p=rfc-cc obliged to Sees new quarters.
DIe o: the first noticeable effects Of the
rnnsc-H,nt rom he river is the demand for
sites for wholesale houses and manufac-
tories between the river an. Twelfth street.
from Chuuteau ia C&&S avenues, ana for
renting hitherto Lrused structures, which
from lack Of repairs or for other reasons
have been allowed to remain vacant until
tEA new and sudden demand sprang up.
The latc-in-the-year revival, due to the
railroad buying, is indeed one of the strik-
ing features OF the closing days of 1902.
Studying local conditions proSpectively,
these immense interests with steel. stone,
brick and mortar have planned to secure
yard room. switching facilities. Office room
and freight stations beyond the limits set
prophets.
The East End viii So. grand ia buildings
reauiremta:s Of these railroads.. anxious to !
secure an entrance to st. Louis. AS newer
districts are opened. the older ones will be
enlarged. following. in due course, the GEN !
aral expansion. These changes necessitate
the requirement of much additional prop [,
all indicating a systematic and thor
ouSh movement pointing to the develop
Inent of the city of one million people. ST.
is the gateway to the great South
west, and its strides are daily becoming
more apparent.
TRANSFERS.
The transfers for the year 1902 aggregate