The Minneapolis journal. [volume] (Minneapolis, Minn.) 1888-1939, 1905-07-22

TOT WEATHER seemed to have no
II depressing effect on the real
estate market the last two weeks.
Perhaps not so many deals were closed
as usual, but the inquiry in regard to
prices and the personal Investigations
continued thru the hot spell. The feel
ing among real estate men continues
good over prospects for the remainder
of the season and for next year. Build
ing goes on and the prediction is that
next year will see continuation of the
splendid record made in Minneapolis
for 1905. With the big First National
bank building to start and large fol-
lowing Of smaller structures costing
less, the total for 1906 promises to
break records.
Conditions Have Changed. -
eve cannot think of loaning money
in Minneapolis until you settle your
business centers. We cannot afford to
place money on properties in your city
y. thinking that they have a certain value
someone come along and hire the ten
ants away
In substance this was the tsrden of
a refusal with which the officials of an
eastern financial institution shut off .
probable request for an opportunity
4 Of placing some of the company's sur
plus funds in Minneapolis landed secu.
rites.
The conversation was at least two
years ago. Minneapolis has come to be
looked upon more favorably in the
In fact, money has been out here look
ing up openings. The chance to assist
in building operations and in promot
ing business deals with real estate Sc
curity has been taken eagerly, as the
city has righted itself and started il
for a long period of prosperity.
Yet, the condition which led tn
financial company to turn down r:
chance to place money here still ex
lists to certain extent. A bitter ex
perience, when whole district of tn
city was deprived of its tenants ant
business for removal to another center
which was being established, may hav'
given some eastern money loaners rea
son to make complaint the burden o.
their talk, concerning Minneapolis. Sucl
an experience may be repeated; but
altho the possibility will still exis
until centers are more firmly estab
lished, every determination Of a sit,
by some big concern tends toward elm
nation of the unsettling feature.
Effect of Public Buildings.
Examination of old plats of the city
will show that the block between
Third and Fourth streets and Renne
pin and Nicollet avenues is marked
s'County Block It was expected a
one time that the city hall and court
house would occupy that site. !. TIL
block was not far from the building
which then served as a city hall, am
it seemed to be in the center Of tn
business section Of the city, accessible
to all interested taxpayers. "Selfsl
interests said an experienced real
estate man, succeeded in getting tn
building located away down where
now stands.' .....E.
It is not at all unlikely, after it wa
generally understood that the count
and city building was to be built on
site which was then central, that 5,
change did displease property owner
who expected an appreciation from tn
erection Of the new building. None
interests in the east which had mad
loans on adjacent property probably re
sented the resulting bearish movemen
of their real-estate securities when
was decided to buy another site.
When the section north of Hennepi
and west Of Washington was deprive
of it's tenants in a body, as it were, i
favor of new market and commissio
district, laments and protestations wer
loud, particularly from property owner
and mortgages interested in the dc
serted region.
Just now interest centers in til
choice of a federal building site. Prop
erty owners are unsettled because the