Daily globe. [volume] (St. Paul, Minn.) 1878-1884, 1879-08-05

An Immense Grain Storing and Transfer
House Decided Upon Capacity 100000
Bushels Work to be Commenced lmme-
diateIy--Annual Election of Directors and
Officers.
At the annual meeting of the stockholders
of the st. Paul Elevator and Warehouse COM
pany, held yesterday, the following gentle
men were elected as a board of directors for
the ensuing year: O. H. Bigelow, Horace
Thompson, John s. Prince, M. Auerbach,
VIM. Dawson, F. Willius ard D. w. Ineer-
soil.
At subsequent meeting of the board of
directors the following officers were elected:
President, D. w. lngersoll; vice presi-
dent, @. n. Bigelow; secretary, F. Willius;
treasurer, VIM. Dawson.
The report of the years business sub
mitted to the stockholders was most satisfac-
tory, in marked contrast to the predictions
of some of our leading citizens when the
project of building elevator "a" was mooted,
that there was no business at this point for
such an institution, that if built it would
stand idle two thirds of tho time, and that
standing in the way of the success
of such an enterprise, would be
waste of energy and money invested. To
these croakers the report of business for the
fiscal year just closed submitted to the stock
holders yesterday would have been start
ling revelation. They would have learned,
had they been present, that elevator GAP has
been steadily operated every week day of
the past year, and that from the time the
grain of last years crop commenced moving
forward to market, it has been found neces-
sary to keep it running 16 to 18 and "a hours
a day; that the wheat handled mounts up in
to the millions of bushels, and that with even
this almost continuous running,
and heavy volume of business, the
elevator has been unable to handle the grain
seeking this outlet to tho markets of the
world.
Indeed, so rapid has been the growth of
the grain business of st. Paul, that the COM
pany found itself confronted at the meeting
yesterday with pressing necessity for an
immediate enlargement of its facilities for
doing such business, or of stepping one side
and allowing other parties to come in and
occupy the field. Between the two alterna
tives offered the stockholders decided there
could be no hesitation in making a
choice, and after brief presentation of the
facts IN the case resolution was adopted in
structing the board of directors to proceed
to the immediate erection of another ele-
vator.
In anticipation of this determination of
the stockholders, the directors had already
aualihedly contracted for tract of ten acres
of land, situated on the north side of the St.
Paul, Minneapolis 81 Manitoba railroad, at
Como avenue crossing, the tract 'front.'
ing on the east on the avenue.
Under the instructions received yes
terday the board will now close the contract
for this tract of land, which will be followed
to-day or tomorrow by an advertisement in
viting bids for the erection of the structure
agreed upon, the building to be completed
and in working order before the snow flies.
The new elevator is to be of 100000 BUSH
els capacity, and provided with the latest
and most improved machinery for cleaning,
drying and transferring grain, rapidly
and economically, as the most liberal
expenditure of money will provide. The
structure is to be exclusively for railroad
business, mainly as may be judged fiom it's
location of the st. Paul, Minneapolis g. Man
itoba road, but all roads will be afforded
equal facilities, as rendered necessary. -Four
lines of track will run TO the elevator, two
running through the building, and one on
each side, 80 that two trains can be IN
loaded and two loaded at the same time. The
total expenditure for this improvement will
exceed 100000.
A large number of important improve
ments are being made in st. Paul this sea
son, but no single enterprise yet undertaken
speaks SO we'll for the present substantial
growth and future prosperity of the city, as
does the erection of this elevator. 1t settles
beyond question the. important fact that
st. Paul not only is to-day, but is bound to
remain the wheat distributing point for the
new northwest, the great wheat
producing region of the world.
It means the Capitalization here of
millions of dollars yearly to be distributed
among the producers by capitalists located
and having their interests in st. Paul. This,
in general terms. is the significance of the
new enterprise.
But there is still further significance at
tached to it. The location selected for the
structure is now a barren tract of land.
But it will require number of men to op-
crate it. These men will naturally desire to
be located as near their business as possible,
and 80 the elevator will prove the nucleus for
in Importance, and spread out, until in a
few years Como avenue will be lined with
residences, shops, etc. Then the street cars
will reach out for this population, and then
will be realized the day dream that led to
the purchase of Como Park.
1t is understood the new elevator will be
under the same sagacious and judicious
management which has operated to make
elevator "A' SO popular with dealers and
producers who have done business with it.
The GLOBE means that Mr.. w. s. Timer
man, prominent factor in originating the
movement which resulted in the con-
struction of elevator a." and the superin-
tendent IN charge ever since it commenced
business, is to hold the same position in the
new structure, elevator "B''-a guarantee
that the business will be conducted upon the
principle of olive and let live,'' and strict
fairness to all. Back of Mr.. Timerman
stands the company, composed of many of
the best known and most highly respected
citizens of st. Paul-men noted for
their business sagacity, enterprise and
strict probity. These men associated them
selves together to supply business want for
st. Paul in the building of elevator ga" By
supplying the went then apparent they have
gradually created another, which, as was to
be expected of them, they promptly met.
And, by meeting this want, it may very
naturally be expected they will create still
another, and with equal certainty that they
will as promptly meet it when it arises,
as on this occasion. Or, to
speak more plainly, the present
structure completed and found inadequate
to do the business Offering, the St. Pau
Elevator and Warehouse company will, as
on this occasion, meet the want by the
erection of still another structure, and so
on, until the want is fully supplied.