, 1874-02-22
4 FINAL R0RD ON THE SALE or THE LAKE
FRONT,

TO the Editor of The Chicago Tribune:
SIZE: Whnteyer minor points may be in dis
pute. it is generally conceded that good sense
and sound policy dictate sale to tho Railroad
Companies OF that portion OF the Lake-Front
which is desired by them for depot-purposes.
The only question at issue is the yaluo Of the
property. The Companies offer the sum Of
$50, 600 in cash Moreover, they agree to accept
quit-claim from the city, and fight all battles
tor the psrfecting Of their title at their own ex-
pense.
This proposition is 30 liberal = one-so much
better, am persuaded, than can be obtained
from any other quarter-that it is unbecoming
In city Eo greatly in need Of money as this, to
speculate upon the necessities of these roads, and
endeayor to extort from them larger sum rhan
any one else will pay.
Even it the title Of the city was absolutely
clear,-which it is very far from bemg,-tho sum
offered is more than tho property could possibly
bo sold for, either at public or private sale, by
Wholesale or retail. or in any other way, save to
the parties who, with money in hand, now stand
ready to take it.
ask no ono to pay any regard to my cwn un-
supported opinion. But the opinion Of A1r. A.
J. Averell, Mr.. n. D. Kerfoot, Mese1s. Clarke,
Layton l. Co.. and Mcssrs. Snyder 4 Lee is en-
titled to the fullest confidence. These gentle
men have deliberately given their opinion to the
public that $500, QUO is more than any party e1-
cept the Railroad Companies would give for the
three blocks in question: and take the title OF the
city as it now stands.
There is no higher authority in Chicago on
questions respecting the value OF real estate,
than the combined and unanimous judgment OF
the above gentlemen. They are disintercsted
and Of great experience, and are men Of .emask-
able caution in the expression Of their opinions,
which arc, therefore, entitled to the mora
weight.
fest no doubt. They state positively that $780,
600 is maximum valuation. In the face OF
such an opinion by such men, Ii it probable that
any party would have the boldness to offer
larger sum for the property It must be mani
fest that, il the opinions OF these men are not
reliable then all opinions on the subject must be
alike conjectural and worthless.
That other men OF respectable judgn- mt
should, on the cpur Of the moment and
without full examination, fancy the property
To-. be worth moro, is perfectly natural.
private taxes to grind" will modify their opin-
ions as soon as they see reason to do so. I would
respectfully ask these gentlemen to consider the
only point in controversy: the value Of the citys
interest in the PROPERTY bearing in miad the in;
on all hands,. The more carefully this point is
examin ed the moro clearly will it appear th@t
the ot1er made is not only an ample, but very
generous one, coupled With the extraordinary
manner in which payment is to be made aud
the public uso to which the property is to be de-
voted.
Aa it ia universally deemed wire to dispose Of
the property, and as $60o,0 GOO has been pro:
nouneed full valuation By the most experienced
men III the community. the sooner the transac-
tion is consummated tho better. By delay We
arc simply losing the interest upon the large
cum within our reach, every do11.r Of which the
city will soon need to meet it's Liabilities and
maintain lts credit. The Railroad Companies,
be it remembered, wish the property solely and
exclusively for purpose that will be Of benefit
to the city at large and It is for this reason that
I have been SO Jealous, and fear obt1usive, in
it's behalf,-an offense for which c1ave the par
don Of the public.
The Companies, as I am informed are willing
that the legal papers giving them possession
should be 80 drawn that no sub-sale OF any por-
tion OF the property should erer be made by them
for other purposes, and, IN case OF 30 delng,
their title should be forfeited altogether. Such
an agreement on their part, made in good faith,
merits not only just, but liberal. action towards
them on tho palt OF the city. Yours respect
fully, J. EsA1As WARREN.