Evening star. [volume] (Washington, D.C.) 1854-1972, 1856-03-29
.EV ENING STAR.
LOCAL INTELLIGENCE.

Ranlett ha. perfected the drawings, now 70
be seen in the Mayors Office. ltrecommends
the construction of the building independent
of the current receipts (reyenue) Oh the Cor
poration; and says:
The plan of the building, as originally
submitted by Mr.. Rsnlett and adopted by
the Corporation. contemplates the erection OF
a building, when complete, around the entire
market space to the height Of two lofty stories;
the upper story in the centre building on
PENNSYLVANIA and Louisiana avenues to com
prise q magnificent hall, 498 feet front by o0
feet wide, with spacious and ample ante
rooms the upper stories of the wings on pc.
enth and Ninth streets, and that OF tue IAN
building on the south. fronting the canai, "
comprise accommodations for armories, the
noIice offices &c. The committee do not re-
commend the erection of the entire building
At tbi, time because Of its capacity being tar
beyond the reasonable wants OF the city LOT
many years to come, but so much only as Will
meet present purposes, with i6eral view 70
the future. This much they believe will be
accomplished by the erection of the northern
front complete and the wings on Seventh and
Ninth streets TO the windOw-sills OF the sec
ond story, the principal story to be carried up
To that point in accordance with the plans,
and the completion of the ground plan entire,
covered by the portions above mentioned.
"In arriving at this conclusion the commi
the number Of persons attending this market
during the months Of September and October
last, and find that the ground plan as laid
down will be amply sufficient for the present
and for several years to come, and to be sus-
eeptible Of increase to an extent sufficient for
at least thrice our present population, at an
expenditure for such increase Of but very
small amount. The committee have caused to
be prepared separate estimates for the build
ing, as follows:
/. For the entire building, according to plans
and estimates ..................SZo ,UUU
q For the completion of the front
building and the Seventh and
Ninth street wings. 3OO,OO0
s. For the completion Of the front
building, and the erection of the
Seventh and Ninth street wings
10 the window sils of the second
story NEUTRALITY-SUSPICIOUS.. ZoO,OOU
The above estimate No 3 is the one referred
10 in the above remarks, and which the Gem
mittee propose to adopt 1t may be proper to
state, in this connection, that there is nothing
TO prevent the Corporation at any time from
continuing the building to completion, &C
eording to the original plan, whenever they
NAV deem it proper; but the committee think
il highly advisable to go no further at this
time than they have proposed; believing that
with The erection OF so much of the premises
as is proposed, with the arrangement OF the
stalls and stands as exhibited on the ground
plan, their ample size for the purposes for
which they are designed, and the ample width
Of the main aisles and passages our people
will be furnished with as convenient comfort
able and spacious market accommodations as
can be found in any city in our Union, per-
haps in the world. In verifcation of this
statement the committee invite careful ex-
animation of the diagram of the ground plan,
herewith submitted.
Reviewing the best means of raising the
money to build the market honse, the COM
mittee say .. The committee therefore rec
ommend that the committee representing the
interests of the city before Congress be in
sructed to ask the power to issue the stock Of
the Corporation to an amount not exceeding
$3.50 900 for this special purpose, at a rate of
interest not exceeding six per cent, interest
payable quarterly, and redeemable in not less
than twenty years, and requiring the Corpo-
ration to set apart the sales, leases, rents, &c
Of said premises for the liquidation Of said
stock and the payment of the accruing inte-
rest thereon, or, in lieu thereof, the redemp.
ton of an equal amount out Of said proceeds
of the present stock Of the Corporation; the
provision to grant the power to contain the re-
quirement to redeem the stock from the mar
ket fund.
cit Is believed that by this arrangement
the twenty years stock will command a pre-
MUM nearly if not quite equal to its present
rate-from 3 TO 81 per cent-especially with
the accompanying provision to retire at an early
day an equal amount Of the present stock,
which the Corporation has the privilege to do
al par.
I'm reference to the means for the speedy
redemption of an equivalent for this stock,
the committee have said that they entertain
the opinion that the building can be erected
and paid for within 4 reasonable time without
the aid Of the revenue Of the Corporation.
In arriving at this conclusion the committee
have made inquiry as to the prices Of market
stalls aud stands in the Northern markets as
we'll as their annual rent and have also had
in view the prices at which stands have
changed hands in those markets as well as
in our own, and are fully satisfied that a
proper and fair price for the stalls and stands,
with a reasonable annual rental, will produce
the means for the speedy redemption Of the
stock or its equivalent; and they are graft
fed TO say that the gentlemen heretOfOfore
alluded To "a having favored the committee
with conference have no doubt of the result
Of this portion of the operation also Whom
the prices of market Accommodations in the
markets Of Boston, New York, and Baltimore
are taken into consideration, and the prices
At which they are held above their original
cost for the right Of possession, and the prices
at which stands and stalls have changed
hands in our markets, and compare them with
by our own dealers, which not only includes
the rent. but the license to do business, it
will at once be perceived that the revenue
from the present market is scarcely 1.-THE of
what it should be, and it exceeds but slightly
the annual cost to the Corporation"
The report concludes with an argument to
show that the Corporation is not at present
remunerated fairly for its market accommO-
dations, and seems to justify the propriety Of
hereafter selling the stalls at prices as high as
similar business accommodations sell for at
the North.
The select committee were the Mayor, Mr.
Walker Of the Council, and Mr. Pepper of the
Aldermen.
The following joint resolution was made lin
the Council Bosrd) the special order for Mon
day next:
b, 1t rs,oivsd, re That the committee rep.
resenting the interests Of the Corporation before
Congress be, and they are hereby, ms ructed &c
ask the passage Of alaw authorizing this Corpo-
ration to Issue the stock Of the Corporation e