, 1874-11-29
THE UNION PARK JOB.

The proposed purchase OF an addition OF
one aud two-thirds acres to Union Park at
S26S, 500 has been referred back by the Coun-
ell to the Committee on Wharves and Public
Grounds,-the same Committee which orig
inally reported in favor of the purchase. A
review of the past history of the job may
induce the Committee to revise its action.
The purchase of this property was t'asked By
400 citizens, which reminds us to say that
probably no proposition could be suggested
which 1900 citizens " could not be found
to ask for by signing their names to d
petition. This petition was referred to the
COMMITTEES on Wharves and Public Grounds,
who reported that they had called in @sfve
prominent citizens" to fir the valuation of
the prope, ty, aud that these " five prominent
citizens" had appraised it at $26s, 500.
Thereupo11 the Committee recommended its
purchase at that figure. The Council Com
mittee consists Of Messrs. Cannon, Schmitz,
Moore, Jonas, and T. F. Bailey. The report
had the names Of only three attached to it,
Messrs. Cannon, Bailey, and Jonas. We are
informed that Alr. JOINS did not sign
it, and that the use of his name WINS
not authorized. If this is true, the
report was really minority report,
and not the report of the Committee Mr.
Moore, who is unquestionab1y the ablest
member of the Committee, refused to sign
it, and has persistenty opposed the purchase,
though living in the vicinity Of Union Park
MIR. Schnitz did not sign it, and has not
given the proposition my decided sanction.
Looking for the 3sfve prominent citizens"
who are said to have fixed the valuation, We
find only four names, viz 11r. 0. Cronhte,
q ife-insurance agent, who lives at 357
West Washington street, near the Park; Mr.
J. Lewis Lee, of the real-estate firm
Of Snyder & Lee; Mr. J. A. Hamlin,
druggist, who lives at Sc South
Ashland avenue, also near the Park; and Mr.
F. A. Riddle, who is just put down in the
Directory as lawyer. We have no means of
knowing by what process of reasoning these
four gentlemen arrived at the conclusion that
this small tract Of property is worth the e1-
treordinary price Of S5268,500 now when it
was offered to the city for sos, 600 in 1869,
when Chicago real estate was nearly at its
highest. We infer, however, that they took
no testimony, and that they were not under
say so. We only know that the price is
singularIy exorbitant, and that the gentlemen
who fixed it must be regarded either as in
competent for the work for which they were
selected, or influenced by some other motive
than that of securing the best bargain for the
city. We must also conclude that, if the
Committee which had the matter in hand had
desired to get at the actual value Of the prop
erty, they would have summoned to their
aid gentlemen who have an acknowl-
edged and SPECIAL fitness for apprais-
ing Chicago real estate, after ascertaining
that they had no personal interest in the
proposed sale. They might have called,
for instance, Mr. ]. Fl. Rees, Mr.. A. J. Aver
ell, or A1r. S. H. Kcrfoot, from among the
real-estate dealers, or Judge Skinner, Wright l.
Tyrrell, or Gallup & Peabody, from among the
firms who loan money on real estate Such
men would not only have been good Judges
themselves, but they would have taken testi-
mony regarding the value of the property,
and would have been competent to estimate
the relative force of the evidence offered.
The property which it is proposed to buy
could not be divided into moro than fourteen
or fifteen building lots Of ordinary size
for residences. At the rate fixed by
the four 9'prominent citizens" these
lots would cost the city about $4,000 each,
or something between 5000 and 800 per
front foot price at which frst-class busi-
ness property can now be purchased in Ger
tain portions of the city. We take no &C.
count Of tho proposed transfer of the claim
against the Second National Bunk in the in
terest Of Dir. S. J. Walker and Mr. D. A.
Gage. We do not see how this can 1egiti-
mgte1y cut any figure in the case. The simple
fact is that the city has been asked to
pay at least double what the property is
worth, in hard times and with bankrupt
Treasury, for an addition which Is not really
needed svsn u times Vere good and the