The Saint Paul globe. (St. Paul, Minn.) 1896-1905, 1903-03-01
500 IS STILL BUYING
PROPERTY IN RICE
ADDITION
E. P. Roberts, Acting for
Railroad, Keeps on Look
ing for Realty in Lower
Town-Northern Pacific Is
Said to Have Bought Half
Million Worth Of Real
Estate.

What Is considered the matter of
most Importance in local real estate
circles at the present time Is the man
ner in which the property in the Rice
addition is being bought up by E. P
Roberts, who is unquestionably acting
in the interests Of the 500 road.
While none of the deeds of the prop
erty recently purchased IN this local
ity have as yet been filed for transfer,
sales amounting in the aggregate to
more than 100000 have been made
and options have been secured on
property which will bring as much
more. The purchases were made quiet
ly and options were secured almost be-
fore the property owners realized that
the lots were wanted by corporation.
However, the prices paid were good
and many of the people who sold their
homes or gave options made larger
profits than they had ever anticipated.
1t is stated that the 500 is buying
up the property in this locality with
the view of securing site for termi-
nails and shops, the construction of
which, according to good authority, is
to be commenced this summer.
This property-buying crusade by the
500 is second in Importance only to
the large purchases made by the
Northern Pacific in lower town, and
will amount altogether to almost half
q million dollars.
The property in question which has
been purchased for the 500 and upon
which options have been secured Is 10
Gated in Rice's second addition, and
lies between Buffalo and Mississippi
streets on the north and south and Ca
yuga and Acker streets on the east
and west.
Nearly ell Of the property in the
section bounded by these streets has
either been purchased or is under op-
ton, and will, it Is said, soon be in
the name Of the 500 road.
There has been little activity in the
purchases by the Northern Pacific of
property in lower town during the past
week, but this inactivity is accounted
for by the fact that the road has al
ready acquired about all Of the prop
erty In this vicinity which is needed
for the contemplated improvements of
the road.
Should the Northern Pacific continue
the purchase Of property, it Is believed
that the center of activity will be
transferred to the other side Of the
Lafayette avenue bridge, In which To-
cality the road made some purchases
last week. The purchase Of property
by the Northern Pacific on the other
side Of the bridge last week has given
rise to the rumor that much more
property in the same vicinity would
soon be acquired, and this rumor is
given credence by the argument that
the small amount already purchased in
the locality on the other side of the
bridge would be useless to the railroad
unless additional property is secured.
In the meantime investors who are
inclined to speculate are securing OPP
lions on property along the line of the
anticipated purchases of both the
Northern Pacific and the 500, but in
many instances the spectators find
that options have already been secur-
ed, presumably by agents acting for
the railroad companies. The heavy
purchases, however, have been the
cause of all property in the vicinity Of
the realty being purchased, increasing
in value and property In this section Of
the city is now held at prices much
higher than 1t could have been bought
for year ago.