The daily gazette., 1882-03-22
Tnr SALE OF ran ALMsHoUsI


PR0PERTT.-There has been q good
many eensuTabls remarks made ct
the failure to dispose Of the Aims
house property in this city, at The re-
cent proposed public sale. We have
no excuse 70 offer for the apparent
want Of unanimity upon SONS settled
plan for the sale and the dilatory
and unsatisfactory manner in which
the matter was set before the crowd.
That there seemed loss of dignity 10
too evident to dispute. Yet that
might all be satisfactorily explained
away perhaps If the matter was ofsuf-
hcient importance to warrant the un-
deFtaking.
For our part we have no hesitation
10 saying that We believe the failure
viii result to the benefit OF the people,
and we are therefore glad that it &C.
CURED. The land is very badly plotted
for public sale of lots to individuals.
The lots being too large and con-
tracing the frontage on which such
sales are based, entirely too much.
OF this however, we have nothing to
say. Everybody knows the GAZETTE
was not in favor Of disposing of this
property, and We believe now that the
county would make large amount of
money By keeping it, or If 1t is dis.
posed Of, only selling a third Of it
this year and another third next year,
and the additional third when the
cOunty's interest, Cor the Poor estab-
lishment's interest) most needed the
money.
Never was there time when the
Trustees of the Poor of this county
could afford to sustain the dignity,
credit and Interests of the people they
represent better than the present. The
very fact that q bid Of $4,000 was
made for the property as a whole is
evidence of the ability Of the Poor
establishment, as well as the wisdom
Of the old people who purchased the
ground adjacent to the city, aud their
descendants who have held on to il
until the present knowing that Il
would be very valuable in the future
We never had any faith in the exhorbi
tant prices which one or two of tn,
Trustees frequently expressed it woulC
bring if all put on the market at once
We have seen that tried before anC
have witnessed the disappointment
OF expectations.
Every observer Of the rise of land
In cities knows how sudden the pric,
advances when land is needed. LAM
has been known to sell for S75 a foot
Que year and more readily for $40
foot the next year and cheaper lot
in proportion and it would be wis
for the Trustees of the Poor to max
as much out Of this land for the peo
pie as possible. We are sure the,
want to do 30. We have no idea what
ever to the contrary. We, therefore
feel hopeful that they will succee,
better in effecting this because of tn
failure Of the sale last week. We SO,
no occasion for any sacrifice of dign:t,
10 haste. The Trustees of the Poo
can go into the market and borrow
$0O, ,OOO at five per cent, when they
like. They can then choose thei
time to sell, and need sell but a thirc
OF the land, aud that next to the CITY
The balance they should hold subiec
to private sale for the present at fixeC
and stipulated prices, say$2O, $25, $50
SS6 and $40 foot, with one .thir,
cash payments, the balance on mort
gage at six per cent. This would sui
many Of our builders better than tn
purchase at open sale. They coul,
have time to make arrangements, an,
1t would secure them from the de
mands Of sharpers. In fact such
system would greatly facilitate tn
building up of that important section
Of the city, while it would enable th
Trustees of the Poor to secure al
amount out of the property for th
benefit of the future that they will
never have again. The occasion /;
one that only happens in a half cen
tury. We can refer to instance
where about twenty or thirty acre
were forced on the market for abou
one thousand dollars an aero, an,
other instances where parts OF sue
tracts being held and sold for fiv
times the price that was got for th
tracts at auction.
We do not say that any better prio
can be got at private sale than at auc
tion when the property is needed
Aud the Trustees could offer a tbir,
or fourth of this property at publ
sale whenever they pleased, givin,
our people The option to buy at th
prices the Trustees had fixed upon th
lots in the meantime. There SHOULD
beno huckstering about it--''take it a
our. price, il you want It," Every mai
knows the county is better able to kee
IL than an individual is because proper
ty is always taxed six or eight time