The Minneapolis journal. [volume] (Minneapolis, Minn.) 1888-1939, 1902-01-25
Realty in Minneapolis

! Activity in real estate was not marked
| this week. Deeds have been recorded to
a considerable number, but many Of them
We're for sales already announced Almost
! daily records are made of the transfer Of
lots in the four blocks being purchased
by the Burlington, Cedar Rapids & North
ern. Only. few pieces besides the
morgue property remain unacquired. AT
present all deeds are being filed in the
name Of T. H. Brown.
Inc deere q Weber company tract in
North Minneapolis was bought from sew
| eral individuals and deeds were filed a few
weeks ago under the name of one of the
officers
| several pessimists in the real estate
! business still assert that the newspapers
are making all the stir in real estate.
they can see nothing that warrants the
belief that Minneapolis is to have an un-
usual activity in real estate and lease
| holds. s&
Correct diagnosis is as much the secret
| OF success IN real estate as in medicine.
II does not take an expert, however, to
note the fact that the market is taking an
| early start Usually interest in lots and
houses drops off in the fall and is not
resumed until the winter has passed, but
1t is not so this year. "A slight lull in
interest occurred during the holidays, but
inquiries We're resumed early this month.
Ihls alone is an evidence Of important
Impending events. In some offices as
many as 100 come in in day to ask ques-
tions bearing on the purchase of houses
and lots or of business property.
one mas simply to go about among the
architects and builders to find that some
thing is going to drop as soon as the frost
! leaves the ground Announcements have
; been made this week Of the fact that sew
erai large business enterprises We're pre-
pairing to expand. They are actually
forced to enlarge their quarters.
Feel the East's Pulse.
Three leading dealers in realty have
Just returned from the east. It is their
practice, as well as that Of others, to get
| into the big money centers once year,
at least, to get an impetus which stays
with them. Their words are encourag
ing and their reports bear one another
out. They show the confidence of out
siders in Minneapolis. It Is as true as it
is strange that Minneapolis has not the
| confidence in itself that outsiders show
! S. S. Thorpe spent two weeks, socially
and in a business way, going about New
! York and New England. He finds that
investors are getting more for their
money in the east than they can in Min
neapolis. Mr.. Thorpe met one man who
refused good loan at 51s per cent. In
regard to real estate Mr.. Thorpe said:
quite olt, real estate boom IS nno on in
The building Of the rapid transit tunnel
has caused a revival in some sections.
People are getting on the lines Of rapid
| transit. Trolley lines are being built off
! the highways. The lines are buying their
rights Of way so they. can run at as high
a rate of speed as they wish. They are
going to give the steam roads hard
push.
! ION the Hudson River road since the
tunnel accident passengers won't ride in
the rear car, and they get off away out
the line and come down on the trolley
lines rather than ride through.
"All about New England there is a re-
vival in real estate. One can go from
Boston to New York by trolley. One can
manner, almost to Portland. The New
Englanders are going crazy over trolley
building f.
| Mr.. ThorDe's statement that = trolley
! building is peviYing real estate in dead
| New England that the territory is filing
4 up along lines of travel may be tip to
local buyers OF property. Mr.. Thorpe
adds: a ~ - ~
Z u Everybody speaks. especially we'll of
the west A few years, ago Minneapolis
| was NOT in favor. Now every lone speaks
| welISof it. We are going to do business
| here this year. T.
= Mr.. Thorpe incidentally mentioned the
comforts of the western roads running
into Minneapolis. The trains east of Chi
! cago do not compare in many ways with
the service with which Minneapolis: is
favored. 49, ~
Money Is Coming.
J.F. Conklin has spent several days
down east He was even better sat
isf1ed with Minneapolis on his return. He
said: '"Things are booming in the real
estate line. It is a surprise to note in
Boston what stir they are having. It is
positively a boom in real estate,
Mr.. Conklin's visit east was for bust
ness purposes AS result Of his trip
some eastern money will come here for in
vestment. AS yet Mr.. Conklin has moth
ing definite to say to it's disposal.
AS to this city he adds:
Minneapolis stands well except in one
! or two places. Minneapolis stands as
| we'll as any western town know of among
moneyed people. 1t is not easy to get
money to come out here. The rate or
| interest in Boston is 5 per cent. Call
| money sometimes runs es high as 3 per
| cent and we are making real estate loans
| here for per cent. Have you thought OF
| this: that twenty years ago we had to- go
east to get money to move 81, DOC, 900 BUSH
! els of grain? Now multiply that by and
! we are doing 1t all now ourselves St.
Paul also stands very well in the east.
Minne's Great Future.
David p Jones has returned from a
| weeks trip. He says:
ct verified everything that I found IN
/ previous trips in the fall. Minneapolis is
looked to as place with a great future.
Confidence in Minneapolis ability to
prove itself one of the growing and pros
porous cities is everywhere. til easy to
see that the fact that rates here on high
grade loans are low means that people
think that this city is all right and it Is
competition that keeps the rates down.
1 Clover rates and easier terms with
\ substantial security prevail here than at
any time before, even in the period of our
| most rapid growth. People are asking in
the east If they can get good places OF
investment here for their money We are
getting past the period Of begging for
money. 1t is coming faster than we can