The St. Louis Republic. [volume] (St. Louis, Mo.) 1888-1919, 1902-06-23
REMARKABLE RISE
IN REALTY VALUES.
Manufacturers Record of Balti-
more Comments Upon Steady
Growth of st. Louis.
NO sEMBLANCE OF A BOOM.
City Needs More Buildings to Keep
Up With the Increasing Pop
ulatiOn and Commercial
Advancement.

The remarkable growth OF St Louis and
the solid foundation upon which It is based
are commented upon by the Manufacturers
Record of Baltimore, in a page review last
week. dealing principally with real estate
conditions. The fact Is noted that upon a
valuation estimated at about 60 per cent, ST.
Louis property in 1890 was assessed at S2S5.-
100000. while this year, upon the same basis
of valuation. it is assessed at more than
$400. 100000
Probably no city in the Union has been
SO entirely innocent of a land boom as St.
Louis says the Record. The supply OF
residences and apartments is by no means
equal to the demand for all kinds of first
class residential quarters: the hotels are
frequently crowded TO their capacity by the
ordinary travel OF these times. and even
desk room in the better office buildings Is
often at a premium. Newcomers have fire.
quently TO wait for the completion of a
building before they can secure anything at
all to their liking, a case being mentioned
the other day OF a man who has $4v.0D
worth OF furniture and household effects at
a warehouse here. where they have been
for some time, because of his utter inability
to ind d residence.
las 10 Offices. one tenant has a suit on
a to compel an owner TO carry out an
agreement to build on several more sto-
res Al OEuST 10 fTOF-uE Inc accommodations
he requires. andSone of the railroads has
leased 300 of the offices in a building now
under construction"
The estimate is made that if st. Louis's
population increases at the old rates of 34
per cent, which promises 20 be doubled, the
population in 1868 will be l.t10.Uoo, and mean
time there has been little Increase in
b%uil[irg.
ina the city will justify a great deal of
building, independent of the Worlds Fair,
Special note is made of the absence of in
fated values. The hig~hGst-priced piece of
property is the northwest corner of Broad
front foot.
However. the ordinary business property
IN the district surrounded by Fourth and
Eighth streets, Market street and Wash
ington avenue, can be bought for $500 to
$1,000 a front foot, which is regarded as
most reasonable as compared with prices
in other large cities. The Record continues:
SO great has been the expansion of the
wholesale business of the city, caused by
jobbing houses have been doubling and
their capital, and new firms
n nav sprung at Gnie into big business and
their accommodation. The wholesale dis
trtct is extending out Washington avenue
from Third to Thirteenth and beyond
sections in New York"
Twelfth street. which for several blocks
on each side of Olive street is $50 feet wide,
is beginning to attract some attention. and
it is evident to any one acquainted with the
real estate movements of other cities that
in time this wide thorouEhfare must be-
come an important retail district. Whole
sale and retail business and some lines of
manufacturing are proceeding westward
several streets. parallel 10 Olive, and
must continue in the same direction I'M |
present residences: clearinghouse and
insignificant shops give place to towering
adifces and trade palaces
Attention is called to the marvellous de-
velopment of the West End as a handsome |
residence district. and the fact that river |
froat values are increasing for manufacture |
ing and business purposes.