The anti-monopolist. [volume] (Saint Paul, Minn.) 1874-1878, 1878-04-25
CHIcAco's RUINED HOMES.

The Men who Rebuilt the City Now on the
Verge Of Stavation-What Hon.
Leonard SWEET says Of the
Situation.
A resident of New York, who was,
for many years. engaged in business in
Chicago, met Hon. Leonard SWEET in
the BrevOOrt House, 4 few days ago,
and drew from him a picture of the
desolation now affecting that city.
Mr.. SWEET is the ablest lawyer in Chi
cago, and is thoroughly conversant
with the situation of affairs in that
city. The conversation was briefly
as follows
''Itis reported, Mr.. SWEET, that the
people of Chicago are suffering terri
oily. Is it sos''
sit is all true, sir, and you cannot
imagine-you cannot form any idea of
the state of affairs in that city. 1t is
worse than any man can conceive
off,
'Does it affect the leading citi-
zens :"
'sNineteen-twentieth of all the best
citizens of Chicago are bankrupt. OF
every twenty you can name I can
show you that nineteen are utterly
ruined. None have escaped but those
who were dealing in money. The fail
ure of a half Il dozen of the large
merchants has swallowed up the
small dealers. The property in Chi
cago wouldn't sell for the mortgages.
and the original owners do not put
valuation on it now equal to the
amount of the mortgages. The men
who rebuilt Chicago are all broken
up"
"How has this happened, Mr..
SWEET %
"You know" said Mr.. SWEET, s'all
about the rebuilding of Chicago. Her
citizens could only rebuild by the aid
of eastern capitalists. They went for
ward, however, with an energy unpar-
alleled; but the brick which they but
into their buildings cost $l5 per thous-
and and the laborers received 81 per
day. The property that cost $3.50, 900
they mortgaged for $4,000 or more.
To-day can get brick for 81, and la
borers at any price. 1t is easy to I'M:
derstand, therefore, that the property
cannot be worth more than One-half Of
what it was valued t,and that it is not
worth enough to cover the mort
cages"
elias property deprecated in every
section of the city!'
Eyes, it is all alike. The other day
l took walk with Mr.. -, promi-
nent real estate speculator. and he d.
rected my attention to a piece of prop.
erty, and said: "A few years ago, I
was offered $3.50, 900 for that property.
I refused it. and demanded $3.50 900. I
have recently offered to sell it for $l2,-
OO0.a land doubt whether can get that
much for it, You will see from this
that property has gone down very
low"
Mr.. SWEET was asked as to the finan-
ex-mayor and senator, and Of hun.
dredS of others, and his reply was.
''they are all ruined and have nothing
left"
"And what about Hon. B. N. Judd,
the ex-minister to Berlin!"
| HE has not only lost everything
his beautiful home at KenwOOd, and
all the other property-but he is men,
tally wreck. 1t is hard, indeed, to
look at this man in his affection"
"Who were affected by the savings
bank failures!"
"Mostly poor people. Those who
read the papers and were in the habit
Of looking ahead saw what was COM
ing and took their money out. The
three large banks deprived thousands
of their earnings for many years, and
left them without dollar"
"What of the city government"
cit is conducted in. an economical
manner and much $780, 11tndQ years
past. but the sspreup1 "a
their uttering any S1ll Ia.
debtedness, and It 1x1 IN.
duct the affairs OF m III Z
know what they VII N6.ss hi M
''Did Mr.. Coolbok " 8 - Ter,
who shot himself Evo OF
Douglas, leave an
''Yes, lie left ~ Z ! y
of $500. 600, and r.
signed for his re- G1 l1G
arrangement. y "a N. " 4!
all the men wGBTU u - 1
ruinedi' 5s55s ssE %33sll
They are all ~ 4 h '|
The above Ii NH T. T. RI p