St. Paul daily globe. [volume] (Saint Paul, Minn.) 1884-1896, 1894-03-16
SAINT PAUL.
WHAT 1T MEANS.
Lease of the Market House for
$4,000 Year.

Lease of the Market House for
$4,000 Year.
To the Editor of the GLOBE.
There seems 10 have been a very
strange idea of filanciering entered the
minds of the committee to which the
market house lease was referred. Some
of them, at least, seem to think that q
man should pay the same for that old
building as if it were in shape for bust
ness, when, III fact, the property would
be worth more to rent If there were no
building on 1t at all, as building one
story high could be put up there for less
money than it will cost to remodel that
building for store purposes.
The cost to the lessee is shown below
for one year:
Dr.
Cash to be paid city (per year, 1870. $1,000
Remodeling building, one-fifth of cost
Interest per year Oh S.l9jj improve
mentS, per cent .............. GOD
Heating the building. northumberland. I,6JJ
S3l,0 ~ insurance, payable 10 city :. 90
H,000 insurance on impro Yemcnts. CD
Total Acknowledgement. .......... sl27Jo
Store on Wabasha street 66xl25 ... 5000
-Four stores on Seventh street, each
3ix56, Sl,O0 each ............... 1000
One store on ST Peter street 20X3l.... $50
City for heat, lJJ days ut So. ........ 500
,r, s----o
This is providing all stores are rented
all the time. There is not much of a
bonanza In this for The lessee. Now, il
the city wants to make these improve
mentS, there is little doubt but what we
can rent this property for about the
m oil, a
fair percentage Oh the value of the i'm
proved property, viz: 5per cent on the
value OF S237, 900, without saying any,
thing about the rents for the hall. the
trouble with our city council, or some of
them, is they expect to rent vacant
property, which is the fact in this case,
for full percentage on the value of The
property. The offer that has been made
by the Treadwell Shoe company is such
an offer that the city authorities should
consider twice before they reject it,.
There would be a business opened
I'D at that corner which would
enhance the value of that prop
erty 80 per cent and increase
the chance of selling the property at
good figure 100 per cent. In his case
he would not have. however, the revenue
from the building as stated above. as
his factory would use the portion of the
SACCpl NHdG WIS occupied Dy
the store, for which he has been offered
rent free for five years adjoining his
store in Minneapolis. Mr. JenSen's
offer fOr frOe ground for a factory
would be to any man who understands
manufacturing shoes, and at the same
time runs shoe store, about as entic-
ing as the old darky offering his
hungry horse a buShel of corn cobS.
There have been great many Sug9es-
tnonS made concerning our library in
all the papers. but to my mind they have
all been visionary and impracticable
at the present state of our
finances. We have room in
the second story of that market
house. G6X2S0 feet. we'll lighted in every
corner, and in as convenient location
as IS possible to find i'll our city. ar
engagements could be made with the
Tleadwel Shoe company to lease the
easterly 20J feet OF said building for its
store and factory. the city retaining
G6XS0 feet OH the ST.. Peter street end of
building for library purposes for the
delivery and reading room. Such
changes could be made without a great
expense to the city, and could be so ar
ranged that we would have complete
and connexions library building. which
would be accessible from all parts of
the city. and the whole structure would
become pride to the city instead of
disgrace, as it is in its present condi-
ton. H. A. CAMPBELL.