Omaha daily bee., 1908-08-02
REAL ESTATE TALK
Renewed Activity in the East Good
Sign for the West.
LOCAL BUSINESS is SATISFACTORY
sales and Building All Encourage
Dealers and Spectators Are MAXI
ing Money in Factory
sites.

From one side Of the country to the other,
real estate conditions have shown slight
improvements during the month OF July,
while in the middle west they have never
been more healthy. Reports received by
Omaha real estate dealers from New Eng
land ard the North Atlantic states. where
large amounts Of money have been with
drawn from eastern investments and placed
in the west. indicate that at last there
is a renewal OF building operations and
during July there was a fair amount of buy
ing. More men have been at work in New
England during July than during any
month since last November, though the
trades are receiving smaller wages than
before. This recovery back east may and
may not check the money which has been
coming TO western cities for investment
instead Of staying in eastern real estate,
bonds or saving banks.
According to S. P. Bostwick, who hut
recently returned from an extended trip
east, the money will continue to come west.
A number of dealers have had orders from
clients in the east to buy for investment
in Omaha during July and something like
$50. 900 was invested during the last two
weeks of the month. There is practically
no difference in conditions in Omaha and
other Nebraska cities, except that mort
gage moIyey Is lower in Omaha and business
property is more in demand, especially
tTackage vacancies.
Charles T. Knapp Of Lincoln. in writing
Of conditions In that city, says: Increasing
activity due to gradual restoration of con
fidence. Many business properties beins
erected, but few sales. New, private houses
being constructed in large number and
selling we'll; quite a few older houses va
cant. Sales of apartment houses restricted
and vacancies few. Suburbs growing very
fast. Farm lands salable. average price II
Lancaster county beirg $50 per acre. Mort
gage money abundant at 5 to 55 per cen
for business property; 51s to 6 per cent fo'
apartment houses: s TO sly per cent fo'
private houses; s per cent for farm lands.
In Omaha the interest during the last
week in July centered in the proposed or
ganzation of a new state bank and the
erection of a building. Bankers are quit
generally agreed that there is a field fol
such an institution in Omaha and that !
will be a success and win friends from th'
start. Two real estate dealers are nego
tiating with the organizers for sites. 1t Ii
known that George & Co. have offered thu
corner at Sixteenth and Harvey streets
What ]. IL. Dumont & Son are offering
the organizers of the new institution Mr.
Dumont refuses to disclose. But whethe
the new institution takes the Sixteenth ant
Harvey street corner or a site offered b!
j. II. Dumont e. Son, it is understood tina
there will be a big sale and a vacant cor
ner the home Of a new building.
With'a number of factories coming L
Omaha, there has been activity in bushes
property and much more to come. As a re
suit there is some speculation. Good none,
has been made within the last five years b,
careful buyers of property in the bushes
district. notably Gould Dietz and Davi
Cole, who have bought and sold severa
pieces OF property. John r. Webster en-
tered the field during the week by buyin
two lots near the new factory OF tn
Loose-Wiles Cracker and Confectioner
company, while Harrison & Morton bough
two lots at Twentieth and Harvey street
for a client, whose name is not disclosed
purely for speculation. The R~ussan-Jewls
congregation got an opportunity to sell tn
ksite bought some time ago for a church q
Twenty-first and Chicago streets and
was sold for about $4,000 to three dlfferen
buyers, who will build homes. The congre
cation has worshiped in a small synagogu
on Capitol avenue between Twelfth an
Thirteenth street. The congregation mad
a fair profit on the Chicago street propert
r and will likely buy another site within
Z short time.
n