The St. Louis Republic. [volume] (St. Louis, Mo.) 1888-1919, 1903-03-01
Tacoma Realty Company Contem-
plates Handsome Improvements
or the Nulsen Property.
MAY BE 12-STORY BUILDING.
New Glass Company Secures Five.
Story Structure-Concerns Find
Larger Quarters for In
81 creased Trade.

For the purpose of making improvements
OF n handsome character later. the Tacoma
Realty Company, organized by Holerook-
Blackwelder, yesterday leased the southwest
corner OF Sixth and Olive streets from John
q. Nulsen for a term of ninety-rine years.
ut $1,000 year net
Mr.. Nulsen has held this property for for
~ years having purchased it for $1,000 On
a basis OF per cent, the valuation placed
upon 1t in the lease signed yesterday was
S550,O0o the lesSees paying all taxes.
The contract for the lease was made last
May, legal technicalities delaying Its fuifi!l-
1nent. and meantime it is said that the value
of the property has enhanced to the extent
that the Holbrook- Blac kwelder Real Estate
Trust Company could now dispose CT tho
lease at profit OF more than 10 per cent.
The lot has frontage Of s1iY feet on
Olive by 57la feet on Sixth street. About
half the lot on the corner is covered by u
four-story building. subleased to King Tho
structures adjoining on Olive street are
subleased TO Gilbert Bros. and Charles p.
4 ffteen-year lease. with all but about
eighteen months to run. Is held by the
King Company, which expended s200V0 for
improvements 10 the corner building last
year. renting the upper part OF II princi.
pally for railroad offices. The Gilbert and
Stanley leases will expore in two or three
years.
MANY PROPOSITIONS
1t is said that the lessees will soon con-
edder n proposition TO erect splendid
twelve-story building on the site. which is
regarded as one of the best corners In ST.
Louis. In fact, IT Is said that more persons
pass Sixth and Olive during the course OF
any day than cross the intersection OF any
other streets in the city.
The Tacoma Realty Company. OF which
w. ]. Holbroolo is president and G. II.
Blackwelder treasurer has received over
lures from parties who believe that the
value OF the ground at Sixth and Olive
STREETS warrants improvements skyward. in
order to make the investment more profita-
BILE. and a large building is contemplated.
No defi.tte plans have been made. however.
Meantime it is said that in all the modern
office buildings In St Louis it would be diff
cult to find a vacant office.
Mr.. Nulsens idea in leasing the property
for ninety nine years was 10 save himself
the trouble of caring for 1t personally He
Will now have nothing to do with it but
draw $500 clear every three months. On
his original Investment of sa5 600. in 1861 Mr..
-Nulsen has reaped splendid income: the
last few years 1t has amounted TO about 70
per cent annually. the value having in
creased twenty fold.
NEW GLASS COMPANY.
Another large concern brought TO st. Louis
with the assistance of the Mercantile Trust
Company. has found a location AT Nos eie-
22l Chestnut street. The Condie- Neale Gas IS
Company. organized by St. Louis and Pitts
burg capitalists, leased the f1ye-sioty build
ing at that address.
This new company will occupy the entire
structure and give employment 10 several
few weeks, and the management states that
St Louis's great growth leads IT TO ex-
pect trade OF such proportions that it
will soon have to make extensions
The Mercantile Trust Company Also lea sed
the five-story building at the southeast cor
nor of Nineteenth and Pine streets TO the
Pullem-Richardsor Chemical Company,
which was forced to seek new and larger
quarters on account of the Terminal Rail-
road Associations extensions along Main
street.
A third lease OF Importance. effected by
The Mercantile Trust Company, was that
os the four-story building at Nos. 5ls-2l
Main street to the Hayden Saddery Com
pany. which is one OF the largest concerns of
Its kind in America. Increased business de-
manded larger quarters.
The Mississippi Valley Trust Company
continues TO make large sales to the Ter
mtnal along Main and Commercial streets,
two OF them last week, footing up S50.OJU.
The total frontage was egllty-four feet on
both Main and Commercial Nicholls-Ritter
Realty and Financial Company was inter-
sted In one of the deals.
1t is stated that the sale OF the Frisco
road last week Will not interfere with The
erection of the Frisco building which will
soon be built on the site OF the present
Iymiie building at the southwest corner of
Ninth and Olive streets.