The St. Louis Republic., 1904-10-09
Ezchange Officials Prepare State.
ment Showing Soundness of
st. Louis Market.
NO REACTION AFTER FAIR.
With Return of Normal Prices for
Labor and Material Much
' Building Is Anticipated
: Soon.

= :. 1t has been long time since anything
nearly as interesting has been published
pertaining 10 st. Louis and its real es
tate as the little booklet entitled st
Louis: Its Accomplishments and Its Flu
ture." which was placed in distribution
. last week by the Real Estate Exchange
for the purpose of interesting Worlds
Fair visitors and home citizens in st.
Louis
The booklet was compiled from articles
written by a committee appointed from
among members Of the exchange COM
posed OF F. G. Zeibig. r. V. p. Ritter.
Frank H. Gersart. Sidney Schiele. Howard
9ambrill and A II. Frederick The book
let IL three and one-half by six inches in
size containing forty pages, including
handsome Illustrations Of business and
residence buildings.
The following is taken from the book:
During the last year the realty market
In St Louis has done more to strengthen
faith In this city's realty as an investment
than even the most hopeful believed pos
sible; with the Worlds Fair coming on, an
imitation OF values was believed probable.
All reports show, however. that the in
crease in prices with the exception of the
immediate vicinity of~the Exposition
grounds, has not been more than normal
Chicago's experience in 1879 apparently
has been a warning which st. Louis heed
cd.
Therefore there has been no setback
in values such as Chicago experienced
after her big show. As q matter OF fact,
the average buyer has POSTPONED his pur-
; chase where possible, until after the air,
and this has naturally resulted in large
demand for real estate
. MORE BUILDING NEEDED.
5..It Is not denied that st. Louis needs
more buildings of all kinds and especially
dwellings More citizens In this COM
rnunity own their own homes than do
those of any municipality in America with
one exception. This local tendency con-
stantiy grows stronger and especially Is
IT manifested at a time when It is as
cheap to buy d house and lot as II Is 10
pay rent.
The Following are the official figures
showing the building permits for the last
several years: -o, ooo
,ls0s ..............-.. i,JoO.Oo
Jyg2 ........-..-...-.--.--.- L-sSt'oSS
ayM LS,D'''''A
The building permits for 1904 UP to
September aggregated S.e49ss2
mot been abnormal. and most Of the
building done In 1893 was OF a character
TO permanently benefit the city. regardless
iof the Worlds Fair. For example. there
was zeal need Of more hotels for ordinary
Iimee, and among the new ones erected
mt a cost of several million dollars were
she Jefferson. Washington. Hamilton,
Buckingham, etc
- INCREASE NORMAL
Rents have naturally had an upward
tendency owing TO the Exposition, but this
increase has not been 50 great as in other
cities under similar circumstances. This
condition again shows how conservative
st: Louis fs and the beneficial results Of
this conservatism is being felt to the full
extent since the Fair.
In the business districts of St Louis It
Is well known that the value has more
the enhancement is still progressing.
In 1880. the first western move from
Fourth street was made by one Of the
leading retail dry goods stores to the
streets. which was regarded at that time
by our conservative element as a very
daring act. The venture proved success
ffu. and gradually thereafter other retail
establishments moved from Fourth street
TO Broadway Fifth street.. which caused
q material tnrease In rents and values on
the latter thoroughfare
In that year the northwest corner of
broadway and Olive street, lot 2Sx102. sold
for c15,00o. or A,1T a foot. which was the
highest price ever realized up to that time
caused considerable comment. and DOUBT
was frequently expressed as to the wis
dom and prudence of the Investment This
corner could now be sold for $4,000 foot,
or more.
:. !. Tn 1880. the northeast corner Of olivs
and Sixth street. lot 5ox114, was offered
st a5o 600. or $500 a foot. with no buyers.
Since that time an undivided one-haf in
terest therein was sold. being acquired
by the owner Of the remaining half, and
thereafter the said property was leased for
ninety-nine years on valuation Of over
easily cashed, subject to said leasehold.
The southwest corner of Olive and
Grand avenue Thirty-sixth street,. lot
or s175 per fooot. This corner to-day IS
worth much more than ten times the orig
3nal price paid.
The same enhancement of values as
lions Of the city.
r.. REALTY'S SPLENDID SHOWING.
'Lsss than q century ago. the entire
area bounded by Fourth street on the
east, Market street on the south. Jefferson
avsnue rwenty-sixth street,. on the west,
and Washington avenue on the north, en-
brAoanG 1ooD than N6 acres, sold at prices
eesfesetinE less than $500 for the entire
comparing the cost thereof. at that time,
with to-day's values, it seems almost In
-credulom to think that any single corner,
BruaAway and Twelfth street. is worth
moro per front foot than the aggregate
price paid for the rs acres.
when one pauses to consider that the
entire assessed valuation Of all real es
tats. situaie In our corporate limits. was
rated, In 1850. at about S35. 100000. as COM
pared to q 800 100000 assessment this year,
being an increase OF nearly 800 per cent.
and considers in connection Herewith the
extreme conservatism on the part Of our
investors. It Is manifest, and justifies the
statement that the Increment realized on
real estate in comparison with the rela-
ffvo values of properties in other cities of
Ike population has been only reason