, 1874-02-14
THE LAkE-ET{DEE.

Value OF the Property.
n The E1i:or Of TIE Chicago Tribune:
sm: In regard to the value Of tlo thrce
blocks desired by the railrond companies for
depot-purposes, it is natural TINT different yicws
should prevail. Those wLose attention has not
been particularly given to the consideration of
such matters will, OF necessity, vary widely in
their judgments. But there is an iafalIilIe
Standard By which the value Of everything may
be tested. The real value Of property is the
sun it will bring III tue open market, when
fairly offered to the competition Of the public.
Any other test is merely speculative or mag
mary. Applying such standard Of measurement
to tho three blocks in question: what is tho
property worth ?
The highest price ever offered for the property
Is 5600.000 If there is any man, or set Of rleE,
who will give more than this sum for the
property, why do they Eot come forward and
submit q more favorable proposition to the city !?
Untl they do SO, the sum offered must be deem
I'd all the property is worth.
seEd you paper, s1gncd by number of
1eai-estste agents, de-, glving an honest End un-
bssed expression Of opinion in regard to the
yalue OF this property.
One Of the Aldermen has stated his impress
Eon that the three blocks are worth 81 600, 600,
OF double the sum offered He might as wcll
put the value ct $40, 1000 010 far as the pcssi-
ellty Of attaining or realizing. his fabulous and
fictitious estimate is concerned.
Tho railroad companies not only offer the full
value Of the property, but they propose to pay
every dollar, in cash or it's equivalent, just as
soon as the proper papers giving them posses
zion IRE executed. They no longer ask for three,
ELI, and nine months, a8 at frat proposed, but
"ll Fay the money At once, as soon as the city
u ready to receive it. This information comes
direct from the President of the Illinois Cen
bal Railroad Company. Dir. Newell also assures
ne that they will commence work on their new
eenot very shortly, but 60 great q work will
probably require two years OR moro to complete.
One thing may with absolute certainty be
predicated: No other party or parties will
elEe Ss00 000 for the property, and take tho title
OF the city as it now STANDS. More than this
Z sla not probable that any other party would
gre Sa00 200 for the three blocks. in case tho
railroad companies should altogether Withdraw
from the field Of competition.
lhe city cannot make o title that would be
5saslsfactcryt to any other purchaser, without !.
ioas and tedious lit CATION, and an indefinite and
peI1aPs immense expenditure.
, when these points arc taken into considcra-
uon. cs 1t is proper they should be, it is clear
mat the offer made is net oly fair, but very
Aoelal one, and should without hesitation be ac-
cepted.
!. has been said, and that by one in tbs midst
o. tue "charmed circle" that this is s'too big q
loo to be got through the Council without
money" But surely this must be base in=in-
M1 uM.tlan,-a most vile and outrageous calumny. |
Nhen one calls to mind the high character Of our
lfesentAldcrmen (so different from the merccnary |
s1etches OF former dnys) it cannot for moment
e thought possible that bribery, even should it
ee 1esorted to, would have any weight or i'll |
naence with such an immaculate body. Surely |
lne maa who gave utterauce to the horrible hus- |
Eest1on must have but little faith ia human na-
sq1e, sa and doubtless belongs to that school Of
ihollosophy the cardinal principle Of which is,
N11 esely man ''h.s his price"
1a., dlsIaiss1Dg all such trviallties, it ia to be
aopea that this question will be decided upon its
aiesats alone and TINT the Council will, at its |
ae1t meeting, como to the unanimous conclusion !
~ ~ accept tie proposition of the companies, aud
~ iet them have the land which they desire. and
"ueh 1t ls for the common interest Of the city
sGa It's citizens that they should hare Respect
'aa!g gours. J. EsA1As WAnnES.
!, We, tho undersigned, are Of the opinion that
we ,alae OF the three blocks OF the IaHe-Park
TT tn Of Monroe street (Which are desired by the
.uuos Central aud other railroads for depot
eealposes) does not exceed $500, coo; and, more
soas1oie party CT parties would pay nearly as
aia aaea az the above sum, in cash or ita equiv
staads. ~11' '-''0 ~ ~A'o s1'' 90 ~ 49,"
i s;okR LEE, WM D. EERroor,
B.. s. '. AflRE1L, C,1ACE 1: ABE1L.
r,..s re1ls9s PAIssEa, Wn1GHT d TyHaELL,
+ II1SEf 51 Z. P1cEET, H. l. L. kEEP,
- :. 1aAiAs NARNES, OL1NGER d BALLARD,
N'esAAs, LAYTON 4 Co, ]. HENRY l. JACOB VEIL.
Qualifications for the Sen.