The Scranton tribune. [volume] (Scranton, Pa.) 1891-1910, 1897-06-05
credit was electrical. 1t restored sta
bility and dismissed panic.

credit was electrical. 1t restored sta
bility and dismissed panic.
CHESTNUT STREET PURCHASE
The purchase of the block on Chest
nut street, running back to Market.
between Eleventh and Twelfth streets.
was a singular real estate speculation
of Girard's. There it was intended to
locate the college now out on the old
Peel Hill farm. Girard bought the
property July l, 1907, from John Dun
lap and his wife, Elizabeth, for $780,
900. 1t is estimated to be worth all of
$5,000,000 today. The Chestnut street
front is worth not less than $4,000 a
front foot, and the Market street front
$4,000 a front foot. The great parch-
ment deed conveying the property to
Girard is carefully kept in the vaults
of the estate. When Girard came into
possession of this property a large
Colonial mansion, painted a bright yell
low, occupied the centre of the block.
IT was surrounded by elegant grounds
and an orchard Of peach and apple
trees, which bore fruit in abundance.
The investment in this property was
good one from the start and all offers
to buy were refused. Among the Offers
was one from Murat, who fled from
Spain to this country after the first
downfall of Napoleon, and was for
time the guest of Girard. Murat Of
fered a dinner to Girard and an in
innate friends to purchase the square,
covering it with Spanish mill dollars
as the price. IF you stand them on
end 1 will take your Offer" said Cir
ard.
Girard fixed upon the Chestnut
street block as the site for his college
in his will, dated February 16 $780, AS
he made the purchase of the Peel Hall
farm of As acres, on the Ridge road, in
Penn township, early the next year, he
changed his mind. The fortunate CO.
dicil to the will by which Girard
changed the location of the college
was dated June 20, 1884, just six months
before his death, which occurred on
December 81 of the same year, from
the then prevailing influenza, or grippe
as it is known today by those who get
it.
IN THE OLDEN DAYS.
The construction of the buildings
erected upon this block was left to the
heirs. Ground was first broken in 1882
for three rows of residence houses
facing on Chestnut and both sides of
Girard street, and a row of business
houses on Market street. They were
uniformly four stories high, and ac-
counted the most pretentious buildings
in the city. Those on Chestnut street
had plain brick fronts, with marble
trimmings and marble steps leading up
from the street. From the date of
their completion until 1870 they were
the residences of many prominent
families. Then followed the transfor-
nation into stores, and the whole
block became a business centre.
Among the last to move away were
Thomas Cadwalader, Judge John NJ.
Read. Frank Mclaughlin and Henry
NJ. Phillips. During and after the war
there were among the residents such
well-known men as Wharton Chan
cellor S. T. Beale, r. carp, Thomas
j. Potts and Harry Mccall. The first
business tenants were the Conrad
Brothers, whose establishment still
occupies one of the buildings. One Of
Girard's greatest expectations touch
ing the city's progress Is more than re-
allied in the erection OF the grea.
building of the Board of City Trusts
for the Girard estate.
Much more could be dwelt upon In
the narrative of these progressive
steps in the life OF the merchant, mar
iner and philanthropist The occasion
warrants any length of chapter as the
day comes near for the celebration of
the fiftieth anniversary of the opening
Of his college, January 1, 1s47, and the
dedication of the monument on the
west plaza of the City Hall to his
memory. The college is indeed a last
Ing and ever-present monument and
&c those who would be the witness of
the monument of Girard It Is only