Daily globe., 1883-08-04

not more shall be collected of each party thar
| shall be necessary to make his porportion OF
two hundred thousand dollars.
IL Is hereby agreed by both parties that J. A.
Wheelock, P. 81. Kelly, J. B. Sanborn, VIM.
Llndeke, Thomas Cochrane Edward Iangeyiu
and a. b. Stickney shall constitute com.
mlttee OF arbitration, to whom all questions of
dispute arising out of this contract between the
parties thereto shall be referred, and the de-
cision in writing of said committee, or major
ity thereof, shall be final and conclusive be-
tween the parties hereto.
Witness the signatures of the respective par
ties hereto. DENNIS RYAN.
Party of the first part
The above is copy of agreement entered
into between Dennis Ryan, party of the first
part, and certain citizens of the city of ST. Paul
and we, the undersigned, hereby subscribe to-
ward the bonus mentioned therein to the extent
of the sums set opposite our respective names,
subject to all the terms and conditions thereof
Various committees and subcommittee
circulated copies of the above, but after
$15O,O00 had been secured the work went
slow and many times success seemed
doubtful. At last it began to be whispered
about that the bonus was nearing the desir-
ed point, and finally some two months ago
those wha were active in the matter. were
g
gratified that the bonus had not onIy
reached the proportions required, shrink
age and all, bat had actually passed that
limit and approximated $270,00O. Mr..
Ryan was absent from the city and de-
tanned in the EEast by Hines, but upon
his return the committee presented him
the list and formally notified him that the
citizens had complied with their portion of
the contract. Ever since that time Mr..
Ryan has been considering the question of
site. That was matter of vital impor-
tance to the public, but still more vita! to
Mr.. Ryan, as upon wise selection would
depend the productiveness of the hotel in.
vestment after the building was construct.
ed. A good many citizens, apparently
forgetful of the fact that the contract gave
Mr.. Ryan until September 1 to secure his
location, grew impatient of delay, and the
amount of hotel talk during the past
few weeks has been immense. Specula.
ton as to the site, when it would be de-
termlned upon, who would make a
little speck by the rise of property, etc..
etc., have been the absorbing theme IN real
estate and in fact all other circles. The
sales of real estate were held in abeyance
awaiting the grand denoument, ,and it looked
as though every one who ever had any real
estate or ever expected to secure any, had
concentrated their affections on the hotel
site. There were numerous locations sin
the minds eye," but the secret was well
guarded, and it was not un-
til yesterday, when the desired
property had been absolutely purchased
that the public were made authoritatively
acquainted with the location.
1t then transplred that ten lots in block
three, st. Paul proper, had been secured
for the great structure. Five of these lots,
with frontage of so feet each and a depth
of $50 feet, lie on Seventh street corner of
Robert, extending towards Jackson.
Five other lots of similar proportion front
on Sixth street commencing at the corner
of Robert and extending toward Jackson
street. This gives frontage of 800 feet
on Robert street, being the entire block
between Sixth and Seventh, and 25O feet
both on Sixth and Seventh
streets respectively. The following
diagram shows the lay of the land, with
the prices paid for each lot or tract