Daily globe., 1883-08-04
WORK TO BE PUSHED RAPIDLY.
And the Building Ready For Occupancy
On July 1 , 1885.
TALKS AMONG THE CITIZENS.
Everybody Happy at the elimination
Some Of the Transactions Which
the Boom Developed
Yesterday.

THE Importance of additional hotel
facilities in st. Paul has been point much
talked of and long conceded. Probably
few cities of the size can boast of better
hotels than those possessed by st. Paul, but
the growth of the city has been such and
st. Paul has become such a railroad center,
that accommodations are inadequate to ac-
commodate the multitude who desire to
tarry with US. Nothing is more important
to city than to afford ample and
inviting quarters to the travelling public.
With view ofinaugurating of some plan to
increase these much desired facilities, a
gathering was held at the Merchants ho-
tel one evening last March. Every one
agreed as to the Importance of the project,
but how to accomplish it was the
problem. P. H. Kelly, Esq, gave prac-
tical turn to affairs by announcing that
Dennis Ryan, Esq, wealthy gentleman
who mad recently made st. Paul his resi-
dence, would build hotel which should
cost at least $750,00O, provided the citi-
zens would contribute bonus of 100000.
The building itself was to cost at least
100000. There was something practical
in the proposition, and it was voted
then and there to accept it, or endeavor
to accept the proposition. Volunteer sub
scriptions were called, and in short time
three ten thousand subscriptions were
made to the bonus fund. The good work
continued until 100000 had been raised by
q the time the meeting had adjourned.
Committees were appointed to continue
the work and put the subscription into
definite shape, which resulted in the fol-
lowing subscription paper and contract
being drawn up for circulation among our
citizens:
WHEREAS, The citizens OF st. Paul, in the
State of Minnesota, are desirous of securing to
have built within said city large and commo-
diOus hotel, which shall be frst-class in every
respect, and for this purpose willing to aid
In the construction thereof by the way Of a
bonus, amounting in the aggregate to 10000;
and
WHEREAS, Mr.. Dennis Ryan, citizen of said
city, is willing {, undertake the construction
thereof in consideration of said bonus:
Now, THEREFORE, This agreement made be-
tween said Dennis Ryan, party of the first part,
and such of the citizens and property owners of
said city as shall sign this contract, parties of
the second part;
Witresseth: That said first party, IL consd-
Grafton Of bonus OF two hundred thousand
dollars, to be paid him by the second parties as
hereinafter set forth, hereby agrees to and with
the second parties as follows, to-wit:
FIRST. That he will construct, pro @u"e 70
be constructed within the city of st. Paul, Ram
sey county, Minnesota, a large and commodious
building, to be used as hotel forever, which,
with the necessary ground upon which it stands
shall cost not less than seven hundred and fifty
Thousand dollars, and that the building itself,
exclusive of the real estate, shall cost not less
than SIX hundred thousand dollars, and that said
building shall be built in all respects substant-
ally according to plans and specifications which
shall be submitted to and approved by a COM
mittee hereinafter provided for in this contract.
Second. That he will commence the con-
struction of said building on or before the first
day of September, 1888, and prosecute the con-
struction thereof with such vigor as to complete
the same on or before the first day of Septem-
ber, 1885. it being expressly provided, how
ever, that the failure of the first party to have
some of the details of said building completed
upon that day, shall not invalidate his claim to
the bonus if the committee hereinafter named
shall decide that said first party has prosecuted
his said work under this contract IN good faith,
and that said building is then substantially com
pleted.
Third. 1t is further expressly provided and
agreed that this contract shall not be binding
upon the first party except at his option, unles;
the full amount of said bonus to-wit, two hun
dred thousand dollars, be subscribed by respon
sible parties on or before the 30th day of April
1888. In consideration of the premises, the
parties of the second part, each for himself, and
not for each other, agrees that completion o.
said hotel building by the first party in all re
spects according TO the terms of this contrac
within the time herein specified, he will pay tt
SAID first party, his heirs and assigns, the sun
set opposite his name by him.
WHEREAS, 1t is the intention of both parties
to this agreement, that bonus of two hundred
thousand dollars cash shall be actually paiC
to said stpaTty, aad,
WHEREAS, 1t is probable that some of tht
Subscribers by tie time that said subscription:
shall become dae, shall not be able to pay thei
subscription, therefore it is agreed that thi
contract shall not be binding upon the frs par
ty u11l two hundred and fifty thousand dollar
shall be sub cribed by the second parties, bu