The St. Cloud journal. [volume] (St. Cloud, Minn.) 1866-1876, 1870-06-16
rHE HOTEL PRoJRCr.
Meeting Of tho stockholders and
Election Of Directors.
ACTION OF THE COUNCII.-BONUa
CUT DOWN TO S1a, 500.

~ mCOsAH6 VI VIZ DtVCA0O1QotD 4
h. Election Of Directors.
ACTION OF THE COUNCIL-BON
10. CUT DOWN TO s1a, 800.
In pursuance of notice, there was
. full attendance of those who subscrit
no stock to tie new hotel, at Capt. J. E. Yves
office, on Friday evening. On motion HI
IN II. c. Wait was elected Chairman, and
lie 3. Mitchell Secretary.
Capt. West, upon request, made sta
~ ment as to the amount of stock subscrib
cd and private bonuses pledged, being abo
$4,000. The plans, drawn by Mr.. A.
!. Hussey, we're displayed and generally a
!. proved. A three-story brick, with t
' main front &C feet and side front 115 fe
contemplated.
u Articles Of incorporation, prepared {
= but filing in the blanks IS to name, cap
tai stock, 60, were adopted. The nan
70 chosen was the St. Cloud Hotel Compau
= and the capital stock WAS fixed at $500
On motion to proceed to the election
# seven Directors tor the ensuing year, IL
p Chair appointed G. F. Powell and L. Cla,
tellers, who reported the following person
: as having received the highest number
I votes:
G. F. Davis, J.E. West.
W. B. Mitchell, E. o. Hamlin
7. G. Mcclure, F. 81. Dam,
W. Powell.
They were thereupon declared duly elect
ed as such Directors.
p After the adjournment of the meeting o
the stockholders, the Directors met for or
ganization and the transaction of business
c. F. Davis was chosen President; J. E
West, Secretary; and 7. c. Mcclure
Treasurer of the Board for the ensuing
year. On motion q Committee, consisting
of E. o. Hamlin, G. F. Davis and W. B.
Mitchell, was appointed to draw up and
present to the Council proposition for the
construction Of the hotel on the basis of a
bonus Of $4,000.
On Saturday evening, upon call of May
or Taylor, special meeting of the Council
was held. All the members were present,
viz: AID. Kerr, President, Bridgman, Bur-
bank, Clark, Fritz, Miller, Powell, Rob-
bers, schulten, P. Smith, T. Smith and J.
G. Smith. The following communication
from Mayor Taylor was read and placed
on file:
To the President and Council Of the City Of
St. Cloud:
have called you to this special meeting,
at the request Of the officers Of an asso-
citation of our citizens, organized for the
purpose Of securing the building Of ho-
tel in this city, to enable committee of
said organization to lay the matter before
your body, with view Of Obtaining ma-
terlal aid from the city in the furtherance
Of the enterprise. The undertaking is
one that commends itself to tho judgment
of our best citizens, and recommend to
you liberal action in their behalf.
Respectfully submitted,
OSCAR TAYLOR, Mayor.
st. Cloud, June IL, 1870.
The Clerk then read the following pror.
osition submitted on behalf of the Ho-
tel Co. by the Committees:
The St. Cloud Hotel Company, corpo-
ration to be organized with q capital stock
Of $50, 900, propose TO build hotel in this
city, to be completed within one year from
date, according to the plans and speoifca-
lions herewith submitted, if the city of St.
Cloud will pledge to said corporation a be-
nus of Sixteen Thousand Dollars, to be
paid in coupon bonds of said city Sin
sums not less than one hundred dollars
each, with interest from date, at ten per
cent per annum," payable annually as per
coupons attached, issued and delivered to
said St. Cloud Hotel Co. as follows, viz:
900 when the basement walls Of said
hotel are up; $4,000 when the walls of the
first story are up; $4,000 when the walls
of the second story are up; $4,000 when
the walls Of the third story are up; ST.
500 when the building is enclosed and the
plastering done, and the balance Of So, 500
as soon as said city can be legally empow-
cred to issue the same said hotel build
ing to be located between St. Augusta
street and the ravine dividing st. Cloud
| and St. Cloud city, and between the Mis-
sissippi river and Hanover street.
G. F. DAVIS,
E. O. HAxL1N,
W. B. MITCHELL,
Committee appointed by the Board Of
Directors Of the St. Cloud Hotel Co. to
make above proposition to the Common
Council Of the city of st. Cloud.
The following resolution was offered by
Aid. Burbank:
| WHEREAS, proposition has been made
| to the Common Council on the part Of tho
St. Cloud Hotel Co., corporation to be
organized under the laws Of the State of
Minnesota, with capital stock of Fifty
Thousand Dollars, to build hotel, located
between st. Augusta street and the ravine
dividing st. Cloud and St. Cloud City, and
between the Mississippi river and Hanover
street, in said city, according to the plans
and specifications drawn by A. E. Hussey,
architect, accompanying and exhibited to
said Council with said proposition, If said
city will pledge to said corporation bonus
of [slxteen thousand twelve thousand
i've hundred dollars, to he paid in the
bonds Of said city as in said proposition
stated and as hereinafter provided; there
fore
The Common Council Of the City of St. Cloud
do Rssolve:
Sec. 1. That coupon bonds Of said city Ia
the amount Of Twelve Thousand Five Hun.
dred Dollars be issued in sums of not less
than One Hundred Dollars each and bear
interest at the rate of ten per cent. per an.
mum, payable annually as per coupons at.
taohed, until paid; said tonds payable ten
years after date, signed by the Mayor and
President Of the Common Council and at
tested by the City Clerk under the corpo
rate seal Of said city, and dated and .lellv'
cred as follows, viz: $4,000 when tn
walls Of said hotel building are up $2,O0(
when tho walls Of the first story are up
$4,000 when the walls Of tho second stsry
are up; $4,000 when the walls Of the thirt
story are up; and $500 when the build
ing is enclosed and tho plastering done
Provided, Said Hotel Co. will accept tht
> I same and build hotel building ~ speci
Z fed % near ~ may be at the same cost les
said amount Of So, 800 asked for by salt
Committee.
(sEo. 2. That tho coupon bonds Of sai'
J city shall be issued to the amount Of Thir
ty-hve Hundred Dollars, in sums With in
terest and payable % above specified ii
= Section l, and dated and delivered to sal
. ''The st. Cloud Hotel Co.." ~ soon ate
the said hotel building is enclosed and tn
plastering done, as said city may DO legal
, ly empowered to issue the same-the bond
. in this section specified to be executed b,
, the came officers and in manner and forI
| as provided in Sec. IL