The Indianapolis journal. [volume] (Indianapolis [Ind.]) 1867-1904, 1897-10-24
THE WICHITA BOOM.
1T Was Started by Jay Gould, and
Took Many Curious Forms.
Wichita Kan.) Letter in st. Louis Globe


Wichita (Kan) Letter in st. Louis Globe
Democrat.
The late Jay Gould started the Wichita
boom. AT least that is the Way the local
students of cause and effect tell it. Mr..
Gould was greatly taken with the location.
He was frequent visitor here, and when
he came he remained longer than in most
OF the other cities on his railroad system.
Tbe men OF Wichita are bright. Their So
ciety seemed to be congenial to the mag
nate. 1t is remembered now that in his ear
lier visits Mr.. Gould dwelt much upon the
destiny of the city. He said that the condi-
lions all pointed TO the development of a
large city in this part of Kansas. He said
it with such earnestness and backed it with
such arguments that there is no DOUBT, even
now, with the boom thing of the remote
past, that he believed it.
Here you are" Mr.. Gould would say,
1912 miles from Kansas City. with this fine
country all around you. with the Indian
country south of you sure to be opened
shortly. There must be large city in this
locality, and believe Wichita will be that
city"
The idea of destiny fostered by such ex-
cellent authority, grew and took possess
sion of energetic men. The BOOM once
started, swelled with rapidity beyond all
expectation and attained proportions to be
compared with nothing else in the history
of real-estate speculation. New York's real
estate business in good times reached a
magnitude of $S2.ooO,0OO as shown by the
clearing house. Chicago, in the flush period
before the worlds fair, was able to attain
a volume of $S0,000000 in real-estate trans
actions through the clearing house in one
year AT Wichita the real-estate trades in
the five months preceding the collapse, ac-
cording to the clearinghouse returns, were
$35, 600 600.
MY commissions said one of the real
estate men who passed through that era
and still lives in Wichita, were $106000 in
three months ~, The end came in day; the
list of April. The week before that my bust
ness was 100000. The week after it was
81. 000"
For two or three years the men of Wichita
CT in ha dEf IF 10 loft ~
the spectators who had swarmed out as
fast as they had Swarmed in. They tried
various plans to stay the depreciation and
to restore order out of chaos. Probably they
would have succeeded but the hard times
came for the whole country, and Wichita
was forced to go still deeper to find solid
bottom. Contraction continued. There were
torn down or moved away $500 houses,
products of the boom. To-day an eligible
house to rent can hardly be obtained within
mile of the business center. The clearing
of the wreck of speculation may have been
carried on too vigorously. Tens of thousands
of town lots relapsed into cornt1elds The
man who sold one-quarter of his farm for
81, 600 900 and built a street railroad from the
heart of the city out to the other three
quarters for his own accommodation mas
taken UP the rails and sold them, The cars
make a picturesque collection OF out-bulld-
ngs in his back yard.
The Wichita boom took on many and
strange forms of extravaganza. 1t inspired
about dozen ambitious educational propo-
sitions. At one time there were more col
be found in any other city of this country.
Some of them never got beyond the founda-
lions which long since disappeared. But
Garfield University, which was to be, stands
to-day as il has since the boom died, the
largest single college building in the United
States. The university ran two years, and
reached an attendance of 400, with a fine
CORPS of teachers. Now the immense Struc-
ture is vacant, awaiting the time when the
| State shall see the wisdom Of taking ii for
| a normal school. The college intended for
| the German Lutherans looms imposingly
upon an eligible height to the southeast of
| the city. 1t is unoccupied. Lewis Academy
| is doing well. Paramount College. away off
| in another direction has been put upon it's
| feet and has increased it's attendance one
| third this year. Prof. Morrison, the head Of
| it, thinks his institution is on a permanent
| basis. The Catholic Academy for Girls Is
| in successful operation. The rest of W!chi-
ta's hopes of becoming an Athens have van
| ished
| Some of the millionaires of the boom pc
| riod put their prohts-"salted them down.
| they called it at the time-into hundred
| thousand-dollar residences. on the West
! Side there was at one time residence sec
! ton OF Wichita which could not be dupli-
| Gated for magnifcence in any other city
| west of the Missouri river. One of these
| private palaces has been turned into Ma
sonic home, and companion TO II VIII
| fulfil like purpose for another order.
Some things which Wichita obtained
| through the boom couldn't get away
| bargain counter was made of the houses
needs. Plated additions were vacated and
| superfuous street railroads were tern up.
/ But the $250.000 courthouse. the imposing
| City Hail. the fine government building,
| the splendid Y. Nj. c. A. quarters. the five
/ story stone-front office structures, the
| streets 80 to 100 feet wide. paved with as
| phalt improvements proportionate to city
OF 100000 Instead Of 10000 people, remain.