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 of ofinaugurating some plan to
increase these much desired facilities, a
gathering was held at the Merchants no.
tel one evening last March. Every one
agreed as to the Importance of the project,
out how to accomplish it was the
problem. P. H. Kelly, Esq, gave prac
tical turn to affairs by announcing that
Dennis Ryan, Esq, q wealthy gentleman
who mad recently made st. Paul his resi-
dence would build a hotel which should
cost at least $750,000, provided the citi-
zens would contribute bonus of $200,00O
The building itself was to cost at least
$690,O00. There was something practical
IN tae proposition, and it was voted
then and there to accept it, or endeavor
TO accept the proposition. Volunteer sub
scriptions were called, and in a short time
three ten thousand subscriptions were
made to the bonus fund. The good work
continued until 100000 had been raised by
, the time the meeting had adjourned
Committees we're 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-
dlOus hotel, which shall be hrst-clasS IN every
respect, and for this purpose are willing to aid
IN the construction thereof by the way OF
bonus, amounting in the aggregate to $2O0, 0,000
and
WHEREAS, MIR. 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;
:,
Grafton Of bonus Of two hundred th01sand
dol.="+, to be pHd him 10y the second parties as
herel lftpr set forth, hereby agrees to and with
the -oud paTties, Us follows, to-wlt:
E-r-'. That h9 VII construct, pro .u"e 20
be cons, ucted wiJh;n the city OF st. Paul, Ram
sey county, M!ule@Gta, large and cOnmodiOus
building, to be used Is u hotel forever, whirn.
with the necessary ground upon which 1t stands
shall cost not les than seven hundred and fftv
Thousand dola.s, and that the building itself,
exclusive of the real estate, shall cost not less
THAI s.E hundred thousand dollars and that said
buil05E, snail b.. bailt IN all respects substanti-
ally a"ccrlng 10 plans and specifications which
shall ne submitted % and approved by a COM
mittae hereinafter provided for in this contract
Second. That he Will comTxe ence the con-
struction of said building or before the first
day Of September, 1883, and prosecute the con
struction thereof with such vigor as to complete
the same on Or before the first day of Septem
Der, 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, unless
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 on completion of
said hotel building by the first party in all re-
spec.s according 10 the terms of this contract
within the time herein specified, he will pay to
SAID 1irst party, his heirs and assigns, the sum
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 PAID
to ss'd ms, party. aad,
N.i.i'Eas, it j. probable tbat sorna Of the
Subscribers ~ tae tjlne that said subscriptions
snail become dae shall uos be able to nav tbeil
subscription. therefore it Is agreed that thi;
cont.'nt shall r"a b. binding upon the frs par
" al1l t%o hWtre,i and fifty thousand djll.r.
shall 3a sab cr-bsi by ,ho second parties, bal