The Minneapolis journal. [volume] (Minneapolis, Minn.) 1888-1939, 1902-02-01

Cold weather, the end Of the month, or some
other factor now, unknown, Influenced the
market unfavorably this week in the way OF
sales. Manufacturers, implement houses and
wholesale firms are looking for better loca-
lions Or for larger buildings. In one case a
new building is to be erected, and another
implement firm will build if a proper site is
secured
The real estate men aye as hopeful a lot OF
fellows as is to be found in the city. They are
actively engaged in plans for the future Out
side firms are corresponding as to the pros
pect for good business in Minneapolis with q
view to entering the field. Some of the es
tabl1shed houses will probably have COM
petition of foreign capital before the season
closes The good real estate and building
showing for 1901 is attracting the attention
Of outsiders. AS barometer of commercial
prosperity the market is being watched by
business men who seek wider and greene1
fields.
Popular interest in real estate hinges on
the passage Of the tax commissions reported
bill. = Said of the interested ones this
week:
"In 1897, the latest figures have at hand,
the total assessed valuation of real estate in
Hennepin county was 100000, in round
numbers, and Of personal property of every
my opinion, for a sermon. on the new tax
law. 1t will be conceded by every one that
the value Of personal property in this. city
equals the value of zeal estate.
This is contest between the two classes
of property. That is what it is in a broad
way. The personal property interests are
agitated. I wonder the real estate board does
not take the matter up. .--.
Yesterday an attorney examined the title
to some property in st. Paul, where he found
the taxes were delinquent from 1896. The
delinquent taxes, interest and penalties for
this period equal the value of the property.
Thus, under our present unequal system of
assessment, in a period Of six years the prop
erty has been confscated. Such a condition is
not peculiar to particular pieces of property,
but applies to practically all of the unim..
proved property of both st. Paul and Mime
apolis." a..
The newspaper reporter realizes thoroughly
the annoying details which hinder real estate
deals. He is as anxious for the story the
agent is for the commission and the glory.
Sometimes the newsman waits months for the
completion If the transaction and meanwhile
regrets sincerely the questions of title, the
change of heart on the part of one side or
the other, the big and little things which de-
lay cOnsummation.
''queer'' a deal had occurred at some time or
ether right here in Minneapolis. The Record
Herald, however, has found a new story. Its
lessons apply here as we'll as in Chicago. A
grocery firm Of that city has just completed
the erection of building for wholesale pur-
poses, built in the most desirable part Of the
city. The firm! is one Of the largest wholesale
grocery concerns in the world. A prominent
real estate man secured a prospective tenant
for the block, 1t was reliable, wealthy man
of the southwest who had determined to use
the half million acquired in the far west In
stocking a new wholesale venture in Chi
cago. The mans integrity was upquestioned,
he was we'll known to the trade in all large
cities. The real estate man was congratulat-
ing himself meeting with John Fox Of
Arizona.
. When Mr.. Fox returned from inspecting
his future business home he found the agent
somewhat doWncast for one with a fat COM
mission in sight 1885,,
: "Mr. Fox said the agent ct was dunn
founded this morning when Informed by the
owners Of the building that they would not let
you have it under any circumstances. When
I pressed them for reasons. the head of the
firm handed me a slip Of paper and said: I
understand Mr.. Fox is to see you to-day.
When he asks you for cur reason in declining
to rent to him, simply give him this piece of
Taper. have it here. but, Mr.. Fox. am
free to confess that can't find anything in it
that even hints at reason why the owners
should decline to rent to you"
John Fox held out his hand and received
the slip of paper from the agent 1t was one
,of his own letterheads and on it, written in
his own hand he read:
S'Wade, Scales & Co.-Gentlemen: I make
1T a point never to pay until bills are pre-
sented.-John Fox"
Mr.. Fox understood, and. chagrined at the
loss of the building which in his day dreams
was to be the home of a business embracing
many lands, he wonders if he was CONNER
cially shrewd, or just plain thief
The beginning of the story dates back
twelve years, when the grocery firm called
Wade, Scales & Co. received an order from
Arizona for 400 bags of sugar, 100 pounds to
the bag. John Fox had dealt with the firm
before this order was given, and the order
was unquestioned remittance was re-
ceiged covering the bill and receipt deliv-
cred. The other day, dozen years later, an
insistent man wearing sombrero sent his
card, reading 'Mr Nobody from Nowhere"
in to Mr. Wade, demanding an interview. He
refused to state his business to another, but
curiosity on the part of Mr.. Wade led to his
admittance. For $50 the stranger promised
to show where 1.50O was due the firm and
easily collectable; sum of which the firm
knew nothing Unbsllef in the statement led
to acceptance Of his offer. 1t seemed too pre-
,posterous that such an error could slip
through all hands unchecked.
The stranger pulled out a memorandum.
$50 to your books, Sept. u, 1889, he said.
giving an invoice number This, in brief, was
found:
Shipped to John Eek, Bicknell, Ariz., 400
bagr Of sugar of 100 pounds each-o,ooo
pounds
Nov turn to your books of Jan. ~. 1880. :
said the stranger. It proved that instead OF a
bill for 10000 pounds OF sugar. one for 400