The Saint Paul globe., 1905-03-26

the business Many OF the would be
buyers seemed to have no specific idea
as to the character of property which
might be sold to them. They would
travel about from one agent to an
other getting lists of lots and lands
TO examine, but only occasionally were
sales consummated from these nego-
tiations
The real estate men take a hopeful
view of the large inquiry and expect
a broadening trade with few sensation
al FEATURES, but at higher level than
has>obtained in several years
Many OF the buyers" said John
Kelly, take the position that a marked
rise in values is about due, and 1 be-
iieve that the investing public is busy
ing itself now trying to determine the
market level so that when the time
comes Tor actual purchases they will
be equipped with a knowledge OF val
ues that will assist them in making
good selections"
If the speculative market Is uncer-
tain the building that will be done in
81. Paul this spring is quite the oppo-
site. The architects of st. Paul have
about all they can do preparing for
the spring building operations. These
as planned Will run mostly TO the con-
struction OF homes and small houses
that may be readily rented.
The Jung Brewing company's ware
house that will be put up at the foot
OF Chestnut street was one of the
larger contracts made last week in the
way Of business buildings.
A few fiat buildings that have al
ready been outlined in the news COL
umns Of the press about constitute the
building operations in that line. But
each week brings out the fact more
forcfbly that the number of homes that
VIII be put up this year is much in ex-
cess of last year or the year before.
A favorite location for this class OF
building is in the district south OF Uni
versity avenue ard west OF Dale street.
In this section half a dozen comfort
able homes will go up. North of Uni
versity avenue in the interurban dis
trict there is also quite a movement
in the home building line. The mark
ed feature OF the building is the fact
that owners OF the property are putting
up the improvements with the avowed
intention of living in the houses to be
built.
II. W. Eva will build a $4,000 home
at Lincoln and Grotto.
j. j. Hagerty is planning a $500
residence on Portland near Oxford
Charles o. Kreiger Is building a
$4,000 residence at Lincoln and Vie
toria.
G. w. Freidenberg expects to finish
SosOVV nome al anu Lexington
by the middle of summer.
A. A. STACK plans a house at Con-
cord and Anita which will cost about
$4,000.
These are samples of the building
operations that will be conducted in
St. Paul this spring. and in addition 20
them there are twice as many more
already closed for certain. OF a similar
character. The architects and agents
fhof u-ban SnrinO really nnonS
plans will be made for at least so resi-
dences averaging in cost about $4,000.
This is one of the most hopeful
features of the market. for dealers and
investors know that boom in the long
run is not a wonderful benefit to a
city. They point out that inflated val
ues during a period of wild demand
is an unmixed evil, for when the inev-
liable reaction sets in the last holder
of the property must stand a loss un-
less he is so situated that il Is pos
sible for him 10 hold on long enough
to take advantage of the market when
il rolls up and reaches the figure at
which he bought. If he is not a strong
holder a boom-eyen one in which he
has made large amounts of money
might be the means of serious loss.
The general feeling among the real
estate dealers of St Paul is that they
are thankful for the absence of a
boom, but earnestly desire and believe
in a more active market and higher
prices. Some Of them think the ex-
pected rise will commence next month,
but others only look for a broadening
of the trade and general liyening OF
the situation.
Peter Mcdonald. a keen observer OF
the market, said:
What we want from The Globe
is just plain statement of the truth.
A boom article that is not justified by
the facts is a serious matter for the
real estate men. II The G 10 b G win
serve as a barometer OF the market IL
will do a real service to the trade"