The Minneapolis journal., 1905-05-06

u n oNEi Il Iv;na 1n R1n'in EdIe in " Mipneapolis
" at low rate of. interest,
- VA while investments winch
promise good revenue re-
turns are waiting for investors. Mime
apolis commercial banks hold in their
vaults about $47 100000, OF their
equivalent, belonging to depositors,
paying no interest, Or a very low per-
centage, on the deposits. Savings banks
have total of $14,800,O00; savings and
loan societies have $1,60O,00O more.
These figures foot to a total of nearly
$685. 900. On the other hand Min
neapolis real estate which promises
good revenue, or good returns thru in
crease in values, is waiting buyers.
The city has to it's record two unu-
sual conditions. These are an unusu-
ally heavy deposit account in the banks
for city of it's size, and also the
lowest-priced real estate in the union
in proportion to its population and COM
mercial Importance.
Real estate men are trying to get
these two elements together. The bank,
ers themselves give approval, to careful
and discriminating buying Of good real
estate for investment. One banker in
particular has said with truth that real
estate is the one staple commodity, for
investment that does not huctuate IN
value. Oni1k0 III SDOChS anu oGCul1G1CS.
values do not depend on tickle condl-
tions which fuctuate from moment to
moment in their impress on the stock
exchange Real estate has permanent
value which rises slowly as rule, but
IS none the less inevitably. The vice pres
ident of one of the biggest banks IN
the city says that practically all the
money he has made in his life he has
made on Minneapolis real estate. He
buys when he thinks property is cheap
and then holds to it for revenue pur-
poses and natural advance in value as
the city develops.
Time for Tide to Turn.
represented on the deposltor lists Of the
savings and commercial banks have
tried all sorts of Investments. Some
Of them have bought stocks, life insur-
ance, bonds, or interests in industrial
concerns, all in a small way. They have
tried farm lands, some with Indifferent
success, and some with good results
The rule is that in time investments
come back to the land. In the whole the
time seems to have come when the tide
is turning again to real estate. Mime
apolis is the cheapest good investment
place in the country and real estate is
the best cheap investment that Min
neaDOl1S offers. when a rea1lZaJ1On OF
this takes hold of the small depositors
whose savings go to make up large
part of the 62,O0O,O00 lying in the
banks, the market is expected to be
very active. II
It is the small investor. that is now
buying in this market. An examina
tion of the filings at the office of the
register of deeds shows that most of the
considerations are in small amounts
running from $3.50 up to $4,000 an(
$4,000. This is an indication that tht
tide is turned and real estate agent:
begin to feel that they have come tt
their own again.
Out of the total deposits in Mime
apolis banks at the last call for state
ments it is possible that the sum OF
the books of the savings banks is O.
more particular interest to those VIII
wish to see Minneapolis real estat
brought up to it's proper standard O
value, as set by values in other cite
of nearly equal population and impo1
tance. 1t is typically the idle money
This sum is $l5,0O0O00, and if onl
half Of it could be secured for invest
ment in Minneapolis real estate tn
effect on the tone of the market woul
be tremendous. z.. ~
The savings deposits are the tota
of innumerable small amounts. There
fore this money transferred to rea
estate investment would mean the pul
chase of innumerable small propertie!
Half of the total savings alone woul
take care Of a big proportion of tn
small residence lots in the city that ar
for sale. The effect on values woul