The Minneapolis journal. [volume] (Minneapolis, Minn.) 1888-1939, 1903-03-28
SILENT, But MIGHTY.
Trading in Trackage-It Has Re.
suited in Occupation Of
the Best Sites.
Building Of Jobbing Houses Shows
That Opportunities Have Been
Appreciated.

The quietest trading in the Minneapolis
real estate market Is that in trackage
property. The sale of residence lots or a
deal In a business site, Is heralded with
some blowing OF trumpets. The announce
ments of such sales int press Is expected
to tone the market and to induce other
investors to buy, to trade. or exchange,
anything to keep, the market moving; but,
save for occasional large deals, such as
that Of w. Y. Chute with Albert Dickinson
OF Chicago, very little is known Of track
age transfers. ~Re%'.S,5's : 49,
One reason for this is that trackage
property which abuts railways is purely
commercial and does not interest the wide
circle Of news readers that sales of or
binary real estate do. Gee
Still another is that the transfers are not
so numerous because holders of land Of
this character realize that It is good prop
erty to haEg on to- The chief reason is
that this class of real estate Is not drug
on the market at all and that it is nearly
all bought up. Still another factor is that
the commercial agents Of the different
railroads In the city are quietly taking up
the property abutting their lines. They
do this to set control of the situation and
then place on their property Industrial
plants which will bring good revenue.
Deeds are often withheld from publication
for long time. In fact the Minneapolis
into the promoting business
About all the trackage real estate that
Will be In the market after this will be
made later by the extension Of tracks
and the coming Of new railroads to the
city. : / %
The factor Of ease of transporting mer-
chandise to the railway stations is a de-
terminlng one nowadays in the search for
sites by new or old business firms. The
extent OF traokage leading to a certain
site is generally the determining PROPOSE
ton in securing contracts for the lease Of
new buildings Large firms are tired OF
the old Minneapolis method Of loading
trucks across the front sidewalk and Of
hauling car loads of freight to the bust
ness house and warehouse by wagons.
Almost the first question asked Of the
building promoter is, What trackage
have you, and on what lineS?' < ~
l.. For econony's sake and In the interest
of time saving the managers of business
| houses prefer to switch cars right to the
door for loading or shipping.
| A manufacturing plant which has no
trackage has never been in it from q, bus
mess standpoint The same rule will in
few years, apply to wholesale houses.
Have Been Buyers.
~ A few far-sighted men, have, for the
past two years devoted their time, and
| spare money to picking up. trackage bar
gains. Among the number have been, J.
| r. Elwel the Chutes, L. S. Gillette and
G. M. Gillette, c. M, Way and Walter
Eggleston.~
| The dealing in trackage property is per-
! haps% one of the most important features
| in the local market because those who are
able to pick it up at once proceed to
establish industries on their land. Mr..
Eggleston, has put in most of his time
| in placing elevators and In handling cheap
| residence lots to sell to employees. G.
NJ, Way and ]. T. Edwell have bought
principally as SPECTATORS, Mr. Ways
latest purchase being a considerable acre
! age in Northeast Minneapolis. The Ell
wells have bought also to increase the
| trackage Of established manufacturing
institutions in Southeast Minneapolis
The Great Western and the Omaha have
been quick buyers and have been .instru-
mental in placing such institutions as
the: Daniels linseed oil mill and the Pa
cifc Coast & Inland Lumber company
w. Y. Chute put through the biggest dea
| of late years in selling the acreage ir
Southeast Minneapolis to Albert Dickin
son Of Chicago, to the Wabash Screer
Door company and the Pacific Coast &
Inland company. ..'... .-... n
sale that the only remaining first-clas.
| trackage: had been bought up because i
was the only piece accessible to transfe
from all the railroads by the belt line
This property is capable Of big develop
ment when the industrial railway is com
pleted and manufacturers have been Sc
cured to install factories The Gillette
have handled property mainly for in
crease in values, but they introduced a, bi,
institution when they located the Mime
apolis Steel & Machinery company IL
southtown. :. s~.@@ ~: =.
Trackage for Jobbers. d.. :
/ Another phase of the. trackage. smarke
is the handling Of lot fronts which abu
railways for the establishment of singh
sjobbtng houses. The purchase of hal
block by { the 500 adjoining the .Grea
Northern for the extension of it's yard
i opened the other half block for jebbin,
houses. w. J. Dean snapped up one 10
and has built warehouse already. .,
4 w. Y. Dennis bought another piece o
this and the Burlington holds third Dor
ton. which it refuses to sell. r: =.
The Deere & Weber Co. had the fore
sight to buy big block of acreage a
Eighth avenue N and Washington, wl1ic
has given it admirable railroad facllit1e
at it's back door.
The David G. Bell Investment compan
has made an offer to the school board O
5000 front foot for the Lincoln schoc
property on Washington avenue N, and |
looks as II THIS OLD landmark would 500
give way to a jobbing house. = :E'
w. II. Eustis has placed several larg
implem ent houses near Seventh avenue
+ on good Milwaukee trackage and othe
members of the real estate fraternity hav
! been helping the good work. Henry r
Higgins is more particularly a trackag
, broker. He has bought a good deal g
, right Of way for the Great Western, anc
; incidentally, has turned his hand to. tn
locating Of jobbers and implennen
A Manufacturing Center. -,
<ts. The values Of this kind of property hay
D increased co-ordinately with the growt
l of Minneapolis in importance as a manu-
g. featuring city At the annual banque
Of the Minneapolis Real Estate Boarc
t figures were adduced to show the rapi
strides taken by this city as a factor
- town. >. All good factories seek railroa
sites, 50 that Of necessity the demand ha
: ealmost reached the supply and prices lay
Y gone up accordingly. ( A good deal {
9 money has ben made in this line in til
Al last two years. Speculation in trackag
belongs chiefly to brokers and men
:, means, but it has favorable inf1uenc
. on the general market, affecting eve
y residence property. H. ( -
West Minneapolis and st. Louis Par
t would be nothing were it not for trackas