Daily globe. [volume] (St. Paul, Minn.) 1878-1884, 1880-03-20

Father Hennepin's Discovery to be Turn
ed to Account After Lying Dormant for
Two Hundred Years--Another Chunk OF
Real Estate Taken in Yesterday.
1t transpired yesterday, that MIR. James j..
Hill, of st. Paul, the enterprising and far
seeing manager of the st. Paul & Manitoba
road, has purchased the East Side water
power at Minneapolis, and the possession of
that greet privilege has irretrievably and
absolutely passed into the control of st.
Paul. Unfortunately Mr.. Hill had left for
the East before the purchase became known,
and hence no authoritative announcement of
his plans could be secured. The Minneapo-
lis Tribune of last evening gives the follow
ing gratifying account of the sale of tho
most valuable portion of that town to st..
Paul: -s
The Tribune announced the fact on Tuesday
that President Angus and General Manager
Hill, of the st. Paul, Minneapolis d Manitoba
road, were in the city on important business
Tho business was nothing short of personal in
spection Of the East Side water power recently
placed in the hands of Mr.. w. w. Eastman for
sale by the owners, and for which negotiations
have been pending tor some time, largely par
tisipated in by MIR. j. j. Hill. This fact
has been no secret for some time, nor the fur
Their fact that Messrs. 8. 8. Merrill and Alex
auder Mitchell, who are best known by reason
of their connection with the Chicago, Milwau-
kee & st. Paul, and II. 81. Porter of the Chi
cago st. Paul & Minneapolis, have been active
competitors for at least share in the valuable
property. Yesterday Mr.. Eastman was sum-
moned to st. Paul by telegram from MIR. Hill,
aud before his return last evening the dOcu-
ments had been
SIGNED AND SEALED,
making MIR. Hill the-owner of the water power
for the consideration of 100000, and the
bonded Indebtedness of $25, 900, payable $780,
600 down and the remainder in equal quarterly
installments. The right is reserved to pay the
whole amount in cash, if desired, and it is
stipulated that should Messrs. Merrill, Mitchell
and Porter-to whom some obligation has been
made--desire to come in they can do so on the
same footing with Mr. Hill. 1t is understood,
however, that they shall enter
into an obligation to improve
the power, as 1T is Mr.. Hills purpose to do
Mr.. Hills purchase, it should be stated, is
purely personal one, and Mr. Angus Is prob
ably associated with him, and should the other
turc take advantage of the opportunity offered
them they will do so in their personal capacity
and not IN behalf of the corporations with
which they are cOnnected-a function under
stood to be entirely outside the powers of rail-
road companies except by special enactment.
THE SALE
embraces all the property of the water power
company, which includes the exclusive control
of the water privilege on the cast side of Nicol'
let Island and the water rights to the middle
of the main stream on the west side Of Nicollet
and Hcnnepin island, and all the land on the
river side of Main street from Clark's mill to
the university, includip.s.h he fat below the
lower bridge aud three-feurths of Hcnnepin
Island, total of 1000 feet of shore
front and forty acres of land. Only
very small part of this property
has been leased or otherwise disposed of.
Messrs. Stamwltz g. Shober and Il. G.. J. Cros-
we'll and Philip Herzog, and more recently O.
\. Pillsbury, are the only lesses of power on
the river bank, and of the eight saw mill
powers, only four are in the hands of parties
other than the owners of the water power.
The McMul!en mill, Eastman, Bowey & Co.
mill, Todd, Haven Il Leavitt mill, and Mer-
riman, Barrows & Co. mill sites are owned
outside the company, as is also the power of
the Island Water Power company. The best
estimate of
THE IMMENSE VALUE
of the property can be made by comparison
with the West Side power, the development of
which is so magnifcently evinced in the clus-
ter of mills about the falls. The West Side
power has head of thirty feet of water; the
East Side power has head of seventy feet, or
more than twice as much. The mill powers on
the West Side now sold number one hun
4 nd 10 oatJ
double head gives at least 200 mill
powers, which, at the rate recent sales of
powers have been made on the West Side
S7,500 per site-wOuld make the property
worth, fully developed, S1,500,00O. This is ex-
elusive of the 1000 feet of frontage, or 40 acres
of land. 1t is understood that G. A. Pillsbury
g. Co. paid to franklin Steele for their new
power company for the privilege of its power.
at the rate of 300 per front foot, or $4,000
per acre. At $75 per foot the real estate of the
purchasers would be worth $500, 900, making
the total value of the purchase at rates that
have prevailed within the past year, over two
millions Of money.
STILL ANOTHER PURCHASE.
Yesterday was not an idle day with Mr.. Hill.
During the day he concluded the purchase of
the northwest quarter of the block laying above
UlVeE bLTcel, VII 41CHuCpAu oVOhuS' AA0 PuA-
chase includes the present site of the pillow
works back of J. D. Meyers dye establish
ment, and was secured from franklin Steele,
ESQ. The consideration has not yet been made
public. The purchase is the first that has
been made by Mr.. Hill on this side of the river
in his plan for union depot building. He
has under contract, however, at stipulat-
ed price, the two half blocks on River street.
Just north of the purchase made yesterday,
extending from Third avenue north to the
present track of the st. Paul, Minneapolis d
Manitoba road on Third avenue north, and it
is understood will close the trade Immediately
upon his return from the East. The property
of which he has the refusal is mainly owned by
Messrs. Welles and Steele, who not long since
sold the twelve acres lying still further north
to MIR. Il. II. Porter, of the Chicago, st. Paul &
Omaha.
INVOLUNTARY CREMATION.
Drapery of a Corpse Fired by Tapers-Re-