Telegram-herald. ([Grand Rapids, Mich.) 18??-1892, 1891-06-17
GREAT PREPARATIONS
A Gigantic Enterprise on Foot In
Chicago.
10 BUILD GREAT RECEIVING HOUSES
For the Accommodation Of Exhibitors
"A bis freight Clearing Hoase asd
100 WarshSasss Slk storiss
High IL De Bait

CHICAGO, June rs. - An enterprise
surprising ia magnitude anything that
has been organized and pushed 10 com
Pletion IA this city in many years Is
new being planned by Chicago business
men IL Is the establishments Of
gigantic freight clearing house. The
location of this immense concern will
be AZ the intersection Of Twelfth street
and the Chicago river Here VIII
be erected buildings of sufficient
height and area 10 accommO-
date the population Of fair sized city
One hundred and fifty structures, each
six stories high. viii be put up They
viii all be erected on the same plan
and connected with each other. The
cost will be about "a. 00o. 900 and will
be paid by Chicago syndicate.
Mere than two years ago L. w. Yaggy,
of Lake Forest, interested himself in
q scheme 10 form a Chicago freight
clearing house company and erect
buildings therefor. The idea was TO
put up houses where wholesale mer-
chants might receive goods from all
railroads entering Chicago, have them
stored in one of the buildings of the
company and reship them at will.
FROM the Chicago Il Northern Pacific
Railroad Company was leased for nine
ty-nino years thirty-two acres of land
~ the intersection of Twelfth street
and the river This was accomplish he'd
through the agency of Mr.. Yaggy and
Charles l.. Plumb. OF Chicago. 1t
u understood that the promoters
OF the scheme will receive 81, 600. 900 of
stock for the work they have accom-
plished; that 81. goo. 600 in cash has been
paid and that of the other S3, 600, 600
the company is 10 be incorporated for
IS, 600, 900 over s., 900, 900 has been
subscribed. The principal stockholders
are wholesale merchants of Chicago.
Railroad ears will reach the different
floors of the big buildings by means OF
On inclined track.
The scheme OF freight clearing
house will place all the railroads in
Chicago in communication with each
other AZ point where dock facilities
also exist. A merchant who is quar-
tered in this clearing house will have
track connections into his own building
with almost every railroad in the
United States, and will find that he has
at his door steamers which connect
him with every port of the great
lakes The group Of $50 buildings will
surround great freight clearing house,
into which will pour all freight both
going out and coming in. Outgoing
freight will be delivered TO the different
railroads in this clearing house. This
viii be equivalent To every railroad
having a branch freight house, all
under one roof. Thus the twenty-three
railroads and thirteen steamboat lines
entering Chicago will be punched The
incoming freight will be delivered from
the clearing house to the various ten
ants by rapid mechanical means. All
railroad and transportation companies
viii have equal privileges and facili-
ties for doing business The advan-
tages of the now system are, briefly.
the avoiding Of the following evils:
First. the present enormous expense of
drayage; second, the loss of time
caused by congested streets, narrow
alleys and DISTRACTED sidewalks; third,
damage by accident and exposure by
rain. sun, dust and dirt in street
transit. The expense of drayage will
be cut one-half The time will only
be one-Hfth. the damage by accident
and exposure will not exist and the
rent will DE decreased.