Daily globe. [volume] (St. Paul, Minn.) 1878-1884, 1880-05-25
CHEAP HOMES.

A New Movement Assuming shape-A
Large Number of Real Estate Men CO.
Operating.
. A large number of citizens assembled at the
Chamber of Commerce last evening to further
consider the proposed plans of utilizing real
estate and furnishing cheap and permanent
homes to the people. The committee and sub
committee, appointed at the last meeting to
confer with the real estate dealers, reported
that they had conversed with a number of
dealers, some of whom offered to contribute
lots on the hundred year lease plan.
The committee reported that they had con-
ferred with dealers who had proposed to lease
lots, as follows:
J. b. NAVAL. thirty lots in Robertson Van
Etten's addition, and several lots in Ashland &
Sherburne's addition; Mr.. A. K. Barnum,
twelve lots in Robertson & Van Etten's addi-
ton, also six lots on Dsyton's bluff; Edmund
Rice thirty lots in Rices third addition, forty
lots in his first and several lots in his second
addition. Col. Kiefer reported lots offered by
Mr.. Willius. Lots are also offered by Thos.
Cochran and Gen. johnson.
E. F. Drake, lots on Arlington hills, Rice
street, Fort street near the river, Orphan
Asylum and West st. Paul. Mr.. o. w. Hitch
cock, fifty lots in Vast st. Paul and Thomas
Crosby, lots on Arlington heights. Bishop Grace
forty lots owned by the parish. Mrs. D. ID.
Merrill stated that he was prepared to furnish
any number of lots desired.
A general discussion followed, during which
Col. Taylor suggested the idea of having the
committee call upon the real estate owners and
agree upon some definite plan to carry forward
the work. Mr.. McClung thought it a good idea
to have those who desired to build send in
their names, and if could then be .ascertained
how mauv 1Ota were in the market.
Col. Kiefer thought there should be bureau
established, with the view of furnishing infor-
nation to real estate dealers and those Who de-
sired to build, = :
On motion of MIR. McOlung, the sub-commit-
tee were instructed to confer with the property
owners above named, for the purpose of pro-
curling definite information concerning the 10
societies as to the conditions of raising the
money.
In response to an invitation ffty-three per-
SONS enrolled their names as among those who
desired to build.
On motion of MIR. Merrill, committee of
thirteen, two from each ward, was appointed
to select the names of those who desired to
build. The appointments were as follows:
First ward, John Dowlan and j. p. Allen;
Second ward, W. P. Murray and John Wagner;
Third ward. Mr.. Bryant and Capt. McClung;
Fourth ward, Thomas Prendergast and
Thomas Grace: Fifth ward, MIR. D. D. Merrill
and Albert Scheffer; Sixth ward, Mr.. Somers
and VIM. Bircher.
In reply to question Mr.. McOluDg stated
that the st. Paul building society, No. 1, were
ready to loan money in sums of $4,000 per
month, at the rate of six per cent. per annum,
on the bonus system. The bonus system was
explained as a manner of loaning money by
the building societies to the members, by
which premium was paid for the use of the
money, which, in turn, is loaned to other men,
bers, the compound interest of which accrues
to the mutual benefit of all the members of the
society.
Mr.. Somers, representing the West st. Paul
building association, stated that the society had
at its disposal the cum of $500 per month.
In reply to question the chair stated that 100
year lease was almost equal to granting fee
simple of the real estate. and Mr.. McClung
further explained the plans of the societies in
loaning money, or the easy process by which
the benefciaries were required to make pay
ments. Adjourned until Saturday evening.