The Daily Deadwood Pioneer-Times from Deadwood, South Dakota on April 19, 1899 · Page 13
Get access to this page with a Free Trial
Click to view larger version
April 19, 1899

The Daily Deadwood Pioneer-Times from Deadwood, South Dakota · Page 13

Publication:
Location:
Deadwood, South Dakota
Issue Date:
Wednesday, April 19, 1899
Page:
Page 13
Cancel
Start Free Trial

Page 13 article text (OCR)

. V OMAHA MIL ESTATE MARKET which controls the lines within Omaha and South Omaha, has maintained a record of extensions and improvements OMAHA THE CENTER with $2.60 to $3.60 in other eastern and western cities. Omaha has expended millions; of dollars In street paving and Is now the best paved city in the west. Street car companies are compelled to pay for the paving between their tracks and for a certain distance on OF RAILROAD CONSTRUCTION t ap- class. horse I isap- ai s i l.-Hi 1 lle-SH hit .on IN uurmg me past live years n preached by any city of Omaha's During that peri.id the last of the car and cable ear lines have, peared, ami f.ir the past tin..-tbe only ineetive. peevv.-r in use- ha electricity. In connection with changes and the demands of pop. a number of lines have been exi 'Ht UNITED STATES Situation in Both Special and General Features Can Be Summed Up as "It Is Good." the extension of the lines ot the Ne- braska Telephone .company. January 1, 1898, there were 1,926 telephones In Omaha which number has since Increased till It Is now uver 2,300. During the same period the operating force has been increased from thirty-eight to fifty, the line force from ten to twenty, and five men have been aelded to the inspection force, making in all an increase of nearly thirty employes In a little over one year. The1 increase in force may seem somewhat disproportiona te to the increase in number of telephones, but is not when it is stated that previous to one year age) the highest number of connectieens ever made in one day was 34.000. while since then the number has frequently reai bed 40.000, and on busy days has exceeded 44,000. Not only has there l.e.-n ne te tlV e Illinois Central C ;n:r. anil In all but one' double 1 1 a- k. by 'ruction C ntrnr-t. All Let and Tho new lines have ,1 heavy rails, and ,the w light with heavy rails n laid null t k of re'i'l.i, mg lias been gum; Terminal Facilities Secured. Heavy Buying of Railroad and Other Corporations and by Large Capitalists Considered a Good Sign. Chicago Great VTcstr the outside from each outside rail where there are double tracks. omaha. In both husin -ss and resl-d'-nce districts, has as tine natural surface drainage as cull be desiied or made to order, and it also has an extensive", and nearly complete, system of main and distih t sewers. During the present year J .h.ijOO, vo'ed at Uie last election, will be expend d in extending main se-w.-is. the maintenance of sewers being paid for out of the regular tax levy. In addition to the public- Improvements tht re has been a vast amount of Improvement of a s-mi oublio character made by, Individual property owners in the past several years. The city controls In the material, width and thickness, etc., of sidewalks, and during the past two or three years, except In very exceptional rase s in the outlying districts, has iMt allowed the laying of- any wooden sidewalks. A large number of miles of t ,n., ait1tl--i.il stone and brick' walks have been laid during the past few ye ars, and the indications are that many more will be rn, M;nn icapuhs & St. Lontp. Rlrt 0(1. steadily forward f..r the past two veais on the eld lines. In equipment di-.-nl. ,1 improvements have- also been mad--, a number of e.M m.'tors ami cars -.xty during Imcv -being re-placed every v.-ar by larger cars of the most appr d pattern ami imire powerful moleets. other Improvements made p-e-e-ntly by the company are the installing of a a large increase in the number or ceie w u v-uy as- tlmnt,- 1 v.i . . . phones but also a still larger proportionate ineiease in tho business and ii.-e.iiug Actively This W; ay. social messages sent by 'phone. Since Its organization in 18S2 the Ne large? new braska Telephone company has constantly been growing, and making im Other Frojects Not So Far evve-r plant ISlx.'Wii foe of improv s anrioiine ami the- build-'t ear barn, eine-nts aiiel ex- el. VV ill be' (--,,,-! Along, but Hacked by Great RaiW ing of a ii'-vv This policy tensions, it Notwithstanding Decreased Rates Little Demand lor Mortgage Money, and 75 Per Cent of Loans Being Paid Off. ei eevenients wherever possible, but never to the extent it ha in the past year. All the wires in the business and Systmis Will Develop m Near' Future tinned by -he Omaha Street Railway company, ami the service will be kept up to or ahead of the growth of the Groat Improvements in All Local Transportation Facilities Madl During the Pabt Few Years laid this year. city. GRAIN AND STOCK COMMISSION SUBSTANTIAL PROSPERITY STRAW. Advance in Business and Residence Rentals, Largely Increased Building Operations and New Industries Have Good Effect. central portions of the city are in un-deiground conduits, and alj the wire on the long distance telephones Is No. 12, hard drawn copper, the standard of exe elience for the purpose. In this, as in all other respects, the plant of the com-pany is not excelled by any in the country. I luring the pr'-sent year the company will add to its lines outside the illy LOSS mile's of le-w pole line, the principal terminal points on the new lines being McCook, Itroken How, ord, Le xington, Neligh, Holdrege, Cheste r, Superior. With these lines completed a person in Omaha, or any town in the eastern 300 miles of Nebraska, will be able lo talk to anyone in the same are a. The company now has about 7,000 miles of lines. Will Continue Until Omaha Becomes tha Great Kailroad Centt and Dibtributing Fomt ot Middle West Establishment of New Houses) and Big: Increase in Legitimate and Spec-ulatne Trailing, Large Increase In Number of Telephones and Use ot 1 hem Extending Lines Over Stute. One very substantial straw showing th wind of prosperity und growth which his been blowing over Omaha of late is the Increase in the number of telephones in use, and incidentally in Omaha has beet, sln H iH-emnittg ter of the renewed a liWly in . , i i i . . . i . I yar, end olill Is, ths cnj I. mi, ling in Oie 1'nlted States. Cleaning Up of Mortgaged Property and Increased Demand for Nebraska Farm -Lands Features in the Steady Advance in Prices No Boom Expected or Desired, inn a vast cninj;,- t,er il.- i,e.it.-r the last few years fn m a railr .ml ..iut luii t.fkc-ii i.l.icr. in Omaha during e)f vie w is well kii'.H n to Omaha BANK CLEARINGS STILL CLIMBING UPWARD uumiioss men. v.onut i, ,i,s uw , s, ;, , ,y i,n(ivin(;, all(1 inJieatlna mure strongly that Omaha Is m be the s,eat railroad e nter and distributing point of the mi.lelie v.-e 1 1. That Omaha is a rity to be fiiruied with, an.l on. In all railroad con-struction and operations between the Mississippi river and the Paelflo There has b. i'n'a very large Increase Iti the grain commission business and also several new Iniuscs established In Omaha during the past two years, tine feature eif this busine-ss is that the "legitimate" houses, which dee a business In the actual Ceeinmodity, have been holding their own, or more than holding tle-ir own, with the puiely speculative houses backed by local capital. liuyers or s- ll-'is eif grain ef any kind, or those who wish simply to speculate in it, can do so today in Omaha exact Me xican border nnd the eulf, has 1b still lednK shown. rnllread situation Omaha has ad-greater cunsslderutiun bIiowii It by coast, ana rrom tin Canadian to the been shown several llmi-a recently and In all matters pertain. i.k to the vanred during the list few years, the railway companies being marked. First Two Months of Present Year Show 65 and 27 Per Gent Increase Respectively Over January and February, 1897 and 1898. The mail facilities, l.y the putting on of ad.iltlonal and faster trains) the passeng-er servlne, b.,th local and throup-h, by Hie buildlnir of two m,. ly on the same conditions, and with The real estate situation In Omaha ran Ijc summed up bin-fly and truthfully in three words IT IS linol). The statement applies equally to the K' nernl and special features of the s. i ua t ion. Among the latter may be mentioned, f.ir example, the heavy buying of omaha real estate within the lust eight months, and especially within the past sixty days, by railroad Interests, and the fact that the same and other railroad interests are now negotiating for other large blocks of Omaha realty. While some of these purchases have l'-on made through third parties, and the deeds have not yet been placed on tile transferring them to the railroad from Jlr to 30 per month, and this condition has existed now for a number of months. For every such house which becomes vacant, according to the reports the rental ugem ies, there are at once a score of applicants, and a large number of people who for one reason or another have desired to move during the past six months have refrained from doing so owing to their inability to secure suitable houses. This fact. In connection with their improved condition and the advance in rentals referred to, Is responsible for the large number of small tiouses now being and to be erected this year. One purely local feature of the situation is that while general conditions were greatly improved In Omaha during 1M)S, both the real estate market atid building operations, the Improved conditions considered, were comparatively dull. This is explained by the Present Rate of Increase Will Bring Total Clearings for Year Close to $400,000,000 and Place Omaha in List of Dozen Largest Business Cities in the United States, the same- advantages, as If in Chicago de-aiing thiough a broker who was personally on the floor of the board of trade'. This is due to the establishment and locution here of houses holding memberships In the Chicago board of trade, anel all deals are immediately re'porteed by private wire to Chicago tley are, in fact, consummated in that city. The stat'-me-nt made regarding the ability eif a man to deal legitimately in grain In omaha as well as In Chicago applies with eeiual force to trading in grain on the Ne-w York and Liverpool markets, and to trading In stocks on the New York market. statement that during the exposition Omaha people were too much engaged In business, with entertaining friends. January $l7.7r..M9 1 I10..MI..267 ::,1io;;.T72 !.'.7. I KM) 20,7a.r.3 February I.'., M:H4 and with pleasure, to pay much at tention to buying lots or building inths The above report of the Omaha bank o of each of the past thiee y.-ars te lls briefly aiings feir the first two . the story Of Omaha's p houses, the explanation being con tinned as correct by the decided re igress c ompaniee, the properties bought direct, or since transferred to them, by the Illinois Central, the Union 1'aelflc, nnd the Omaha Bridge & Terminal railway companies sold for tl'W.OOO. More than a like amount, It Is stated by those in a position to know, will be invested in Omaha real estate during the next eix months by these and by other railroad companies. Railroad companies have not been the only large buyers of Omaha realty In the Immediate past. One of the largest Investment companies In the awakening of Interest in both these lines immediately after the close of the exposition. The two general features in real es INSURANCE COMPANIES. tate matters which give those In a po sition to epeak knowingly the most encouragement are the ending of the "Cleaning up" process and the Increased demand for farm property out in the state. United States, which withdrew entirely During 1S96, 1897 and 1S98 a large num from the west six years ago, has re Omaha Mas a Number of I'rosperous Home Lire and Fire Organizations Omaha men. capital and energy combined have durinp the past few years established several life and several Are insurance companies, which are today in a growing and prosperous condition. And, it is admitted, there is room for a number of other companies In both lines. in the world of bank cm hanges. Taking the same reports for the past three calendar years the year ISM shows an increase of 31 per cent over 1SJ7, an Increase of 52 per cent over 1895, and an increase of 8 per cent over U92. which previous to last year "was the banner bank clearings year in the hisbiry of Omaha, as of that "of many cities. The total bank clearings in 1S97 were $243,3W.79, and In 1898 they were $319,561,528. Comparing these totals with the totals for the first two months of 1897 and r898, and these with the tetals for the first two mon'hs of 189!, It will be seen that the same ratio of increase maintained during the last ten months of the year will bring Omaha bank clearings tor 1899 above $385, 000,000. The big Increase in the business of Omaha during ihe years 1897 and 1898 advanced it several places in the list of clearing house cities, Indianapolis, Providence, Milwaukee, St. Paul and Buffalo being passed, the latter two to such an extent that they have dropped out of Omaha's class. In doing this Omaha has taken its place in the list with Detroit, Louisville, Cleveland and New Orleans, and should its percentage of Increase during the present year be as much greater than theirs as it was In 1S9S Omaha will again advance several points, and take lis place among the ten or dozen largest banking cities In the country. ber of the real estate transfers were of mortgaged property, in some cases pealed its rule Insofar as Omaha Is concerned, and made two large invest under foreclosure proceedings and in others by the original owners to get clear and whatever amount outside of the mortgage they could for their prop ments here, the last one, completed but a few days ago, beiikg of a business property at $230,000 on a 64 per cent income basis. Individual Investments In the matter of fire Insurance Omaha erty. That under these circumstances real estate values should be depressed by large capitalists, which were ur Is still senelintr east every year hun and uncertain goes without saying, as dreds of thousands of dollars for Dre known here for several years, and are still unknown In almost every other city of the middle west, have also worked for good, it being admitted niiiims, enriching to that extent Instl also does the fact that shrewd buyers were enabled to pick up a large number of "snaps." That there wi'l still be on the market for some months to tutieetis and communities. The horn companies, while furnishing the same ceme such "snaps" Is admitted, but ths protection, are yearly keeping more of this money "at home" and to some ex influence of forced sales Is rapidly dl tent drawing mon.v to Omaha. The mlnlshing, the Is their number, every LOW FIRE INSURANCE RATES laws of the-stato geiverning the organ month, and the steady advance in good property from the bed rock figures to which It sank after the panic of niflcent depots, the rearrangement of schedules and the putting on of add!-tloiml and better trains; und the freight service, by the removal of several discriminations ajjainst Omaha's Jobbing and manufacturing: trade, and the better and fastir train service, have all been Improved. That present conditions and Omaha's relations with the roads now here are Ideal is not asserted, nor is It desired that such an Impression should be conveyed. That there ire still plae-s where Improvements could be made is true. But Judging from the past, and knowing what Is In stere for Omaha In the railroad line In tho Immediate future, it is not unreasonable to predict that such Improvements, with some solid and united urging on the part of Omaha's butinese world, will be made. Omaha today has twelve railways, giving It direct connections with every Important business center in the country, and unexcelled shipping facilities to the middle western and weste rn slates. It was the first, an4 continues to be the most popular and Important, gateway between the eastern and western halves of the United States. The roads now entering Omaha are: Union Pacific. Chicago, Burlington & Quincy. Onlcago & Northwestern. Chicago, Milwaukee & St. Paul. Chicago, Rock Island & Pacific'. Jlurllngton & Miisourl Hlver. Chicago, St. Paul, Minneapolis & Omaha. Fremont, Elk horn & Missouri Valley. Sioux City & Pacific. Missouri Pacific. Kansas City, St. Joseph and Council ISlufTs, and The Port Arthur Route. The coming to Omaha of the Port Arthur Route about oner year afro. It giving Omaha not only a diren and short route to southern tidewater, but being an Independent, and to a degree a free lance, sybtem, Has been a benefit In several ways. The statement above that Omaha Is today the renter of railmsd construction work in the T'nlied Ktates'is fully borne out by contracts, purchases of rights of way arid terminal facilities, surveys mJ other preliminary work. The most Important of the rew roads headed toward Omaha today is the Illinois Central, whic h let its grading contracts, some of which have already been completed, several months ago. and which has bought freight terminal facilities and made long-time passenger terminal contracts la Omaha. It will be running trains Into Omaha by October 1. Every shipper and business man In a large part of the south and west will appreciate the Importance to Omaha of the coming of the Illinois Central, than which there is no stronger or more progressive road In the entire country. With Its own main lines north and south and east and west, teaching not only tba lakes, but the gulf, both running through ths richest sections of the country, and with numerous profitable feeders, it occupies a unique position among American railroads. That it will be of material benefit to Omaha and Its tributary territory to the west, cannot be doubteX The fact that it has found it desirable lo come to Omaha Is of itself good testimony for Omaha's standing and future The Chicago Great Western has already done the preliminary -work in the matter of surveying, and to a ronsld-rable degree in securing right of way and terminal facilities, few its line from New Hampton to Omaha, the building of which, and expenditure of money theref.ir. has been authorized by the English and other stockholders. As a free lance road and "rate regulator," the Chicago Great Western needs no introduction to the cities and towns In several states which it now reaches, nor to Chicago, Its north-eastern terminus. It will furnish Omaha not only a fifth direct road to ths northeast, but also open to its Jobbing and manufacturing trade a rlcft section of Iowa. . , , . The Minneapolis & ft. I-ouls has this year selected Its route, purchased part of the right of way, and secured the money for the extension of its road from New Ulm, Minn., to omaha. It will not only give Omaha another direct line to the north, but will open up O It a ilc-h strip of territory lu .Northern Iowa and Southern Minnesota fn-m whl.-h Omaha Is now barred The Sioux City & Omaha v,ry .p.-.. My .luring the closing months of 1891 surveyed a route from the feme, te, th- latter city. It also secured a right of way from tho government thre.ugh th- c unnha and Winnebago Indian reservations, and has purchased i-.n!. and is purchasing the remainder of the right of way. That the men in active charge of the affairs of the new road mean business, and have so far displayed the ability and money necessary to carry out their plans as far as tt.-y have gone, has been shown by what has been already done. That the s.oux City & Omaha road is s mply another name for tba Great Northern ;is the Judgment of local railroad and business man best nrqualnted with railroad affairs and proje. ts in this part of the country tor a number of years, and therefore In the best position t03Thit'the Yankton ft Omaha road, a fair proportion of the grading for which has already been done, will be built is not doubted at either end or along the line but at the present time the project Is somewhat dormant. Its awakening at any time, and the pushing of It to completion, would not surprise tha business men Interested In having it built, in fact It would be what Is expected. The road would not only give Omaha better facilities for reaching a certain district of Nebraska but would open up to It the Jim river valley extending north and south through South Dakota and on to the north, it is a district dotted with progressive towns and villages, and is rich, not only In grain and cattle, but also in cement and other products But little Importance has so far been attached locally to the Incorporation and other prsUminary work of the Missouri Nthern Raitroad company or the announcement of its officers to build a line from St. Jxwepht Mo., to Omaha. In this proposed, road, however, some Omaha men whose opinions on such mailers are worthy of considers! ton. see the entrance into this city In the near future of the Santa Fa route. izatlon and operation of tire insurance companies, while Just to both company and insurer are liberal, and under them 1893 has already commenced. It is expected the business and number The Increased demand and higher of home companies will continue to grow. Improvements in Force and Facilities Cause Good The Omaha life insurance companies, which do business in only a limited ter Record and Radical Reductions. ritory, and In the most healthful sec by local property owners that they, having a wider range of vision and being accustomed to Judge places and probable future conditions without local prejudice, must certainly see rap-Idly brightening skies for Omaha The lack of demand for "mortgage money" and the reduction In rates. of full 1 per cent within the last year, have also had, both dh-ectly and Indirectly, a good effect on the real estate ituation. Seventy-five per cent of the good loans now coming due are being paid, offers of renewals at the same or lower rates being declined. Advance In rentals is another encouraging sign. This advance has been from 10 to 20 per cent in residence property, and from 15 to 26 per cent in business property, bringing both up to what are stated to be fair figures, after the Prevailing very low rentals of the several previous years. In connection with the advance in rentals may be mentioned the largely increased number of small but comfortable homes being erected by Omaha JJien. The number of apartment houses. tions of the country, have been able to make excellent showlnps and at the same time offer their patrons as favor abb, and In some cases more favorable ternis than those given by eastern prices for farm lands throughout Nebraska has been watched with keen Interest by Omaha property owners, who remember that the same conditions preceded the advance of Omaha, and of Omaha real estate -prices, about twelve years ago. That the same conditions will bring about the same results, but in a somewhat different way, is not doubted. One noticeable feature of the present emigration to Nebraska, and of that which is promised for the year, Is that It is composed almost wholly of people who are well able to pay for farms at existing prices, to stock them and start In at the same point which it took many of the pioneers years to attain. That Omaha real estate will have a boom this or next year Is neither ex companies. in Rates Now Less Than in Any City of Omaha's , Size Middle West Will Soon Go to Lowest Notch. OFFICE BUILDINGS, Omaha Well Supplied With Hand omeStructures.bin More Will Be Needed Soon. Previous to 1S85 office buildings were Two matters which business men and few and far between in Omaha, but In Investors of all kinds take into conaid pected or wished for by Omaha property the six succeeding years a large num eratlon before locating or putting money in a city are taxes and Insurance ber, ranging in height from six to ten stories were erected. Without exception they are 132 feet In depth, or the same owners or real estate men. it is, in fact, stated that Omaha could not today have such a "boom" as In the '80s, all conditions being entirely different. rates, and on both of these points Omaha can today offer better ad as a city lot. and In width range from vantages than any other city in the twenty-two to 132 feet flat buildings, and residences costing upward of $5,000, now in course of construction, or for which plans have been nade and oa which work will be commenced within the next few weeks, is arger than at any time except during short period of Omaha's "rush day," iL80 far th feature of the year' Duiidlna; operations appears to be the ife. number of comfortable, modernly In cost nome" ranging P to W.H There are today practically no houses Omaha worth, and for rent, at great middle west It was at one time thought by some But that both the present and next succeeding years will see an Increased demand, and gradually rising prices, is a foregone conclusion. The building into Omaha of new railroads, the opening un of new territory, the establishment mat omce Duiiaing construction had been overdone in Omaha, but today and to a great extent In the more thickly populated residence districts, and other Improvements by the waterworks -ecompany Involving an expenditure considerably In excess of $500,000. At the same time the fire department, both in its men and machinery, was overhauled and changed. The day of depending on hydrant pressure, with a couple of emergency engines in the business district, was declared at an end, and engines and additional other Are fighting apparatus was secured. New engine houses and fire companies were also established. In January, 1898, Chief John Redell, who had hade an enviable reputation as a fire chief in Chicago, was placed In charge of the department, which was at the same time put upon a rtrict merit system. Owing to these changes Omaha during the years 1835, 18i6, 1897 and 1R98 made a record both for the actual amount of lossea by Are, and the loss when taken in connection with the mere are very rew vacant rooms Iti any of them, while every suite and office In of new Industries, and the general prosperity, all make these conditions those most favorably located is occu inevitable. pled, with applicants for offices being neni away, itents or ortices, with all other rents, have stiffened up during the past two years, and the erectlpn of more office buildings in the near future is probable. As Omaha lawyers, doctors. brokers and men of other Professions Previous to 1891 Omaha, partly It may be on account of good fortune, . and partly on account of maintaining a fire department which up to about that time was able to cope with all flrei which occurred, the day of six to ten story buildings for Omaha not having arrived until a doten years ago, had very low Insurance rates. In 1SS1 they were lower, through successive reductions, than the insuraaoe rates In aay city of Its size in the country. Today, having passed through a period of Are and experie nee.the Omaha Insurance rates are on a level in most casaa. and very close to a levsl In all others, with those of 1L During 1S,,13 and early la ltH Omaha experienced a number of large and diaaatrana Area. In the latter year the work off radically changing all C re- and business demand the very best to Good Progress In Public De nan xney must come up to the stand ra f ipe Best now here, with any added Improvements of the past few number of alarms and property endan Works gered, equaled by no ether city In the country, and in conseequence it has re- years. JOB PRINTING. rained to a large extent its former rood reputation in this regard. That Omaha Establishments Equipped this Is a fact Is proven by the several reductions made during the past three OMAHA WATER SUPPLY years In Insurance rates, both general and specific, and the assurance that a still farther reduction, which will be Omaha Particularly Fortunate in Paving, Securing It at About Half tho Cost in Other Cities. alight, but sufficient to bring them fighting oonditlon was enterea upon. Tt Ineludaetj th anlaraina of all water down to the lowest Botch, will be made mains la the business part of tha city In the near future; mm UMH Meehtnery and FaolU I ties for Doing All Classes of Work. Tears ago, and to a limited extent not Very many years ago, Omaha business men "sent east" for certain classes of stationery, and to have certain classes of Job work done. '"TT ntaf TMrtnar IM OffliWugraess men still follow the custom, but If so they are very quiet about doing so. That the necessity for sending away from Omaha for anything In the Job printing line has entirely ceetsed te exist has bsea for some time recoOTized, and bus iness men have governed themselves EXCELLENT RAPID TRANSIT . FACILITIES 8ta the Asphalt Coiribine Best Possible Surface Drainage and Almost Complete Sewer System Work of Gradirfg " Streets About Finished. of Furnishing City of Three Times Omaha's Present Population. c t J Large Area Occupied by Omaha la .Well Covered With Electric Car Lines, , accordingly. ?W!!e InproremettU on a large seals i During the paat few years tha number la tha Paring, eurbtag an4 armdinc of Job printing houses has rtaterlalljlnJ.-. rr i lined wool a not prert w to a maa sarccatfni tb laying- of aay mora wooden block paTmBia. For tha paat acrral ycara, aa thy bar beeoma loos and wora out, asphalt hss taken the place of the mumed by Omaha la W7, -TV Tfcat Omaha enrTS.CQt!'"r,a -' aJmprt Idleness. riev Vet

Get full access with a Free Trial

Start Free Trial

What members have found on this page