Kansas City daily journal., 1897-02-11
TO BUILD ITSELF A HOME.
THE BOARD OF TRADE MAY ERECT
A SEVEN STORY BUILDING.
Site Now Proposed at the Northeast
Corner of Seventh and Walnut
Streets, but There Is Some
Objection to This site.

The following resolutions were posted on
the board of trade yesterday, to be voted
on separately by the members of the board
at a meeting to be held February 20:
Resolved, That the members of this
board are in favor of the board acquiring
ownership of building to be used and oc-
cupied as a board of trade.
Resolved, That the site at the northeast
corner of Seventh and Walnut streets is a
satisfactory location for the proposed
board of trade building"
The property in question is known as the
Gill block, and is now owned by the Penn
Mutual Insurance Company, having been
acquired by that company under foreclos-
ure proceedings. Five of the holders OF ada
cent property have proposed to buy the
Gill property and donate ii to the board of
trade. provided a suitable building will be
erected and occupied by that body. This
proposition has not taken the form OF
definite offer, pending action on the resolu-
tions posted yesterday, but it is under
stood the offer will be formally made If the
resolutions are adopted.
The building committee of the board of
trade has had under consideration for some
time z change in the location of the boards
headquarters. This is the first tangible
proposition submitted by the committee,
the members of which favor the adoption
Of both resolutions. Plans have been
drawn for seven story. fireproof building,
to cost about $500. 900. The feeling among
the members of the board yesterday was
o
be adopted. but that the fate of the second
was doubtful. There is considerable oppo-
sition to the location proposed, many of the
members believing the board should have
its headquarters further south. Other
members say that proximity TO the post
office is the most essential thing in deciding
upon a location, and heartily lndorse the
second of the resolutions.
1t is understood the property holders who
have interested themselves in the matter
are the Midland Hotel Company, the Scar
ritt estate, which owns the Grand opera
house property; j. E. Rogers of Wamego,
Kas.. owner of the property on which the
Wisconsin Club building stands; p. S.
Brown, who owns the corner at Sixth and
Walnut, in the same block, and the syndi-
cate owning the property al the northwest
corner of Seventh and Walnut. The price
set by the Penn Mutual Insurance Compa-
ny on the property on which it is proposed
IS said to be between $4,000 and $4,000. 1t
has a frontage of 10 feet on Walnut street
and depth of l2f feet.
The Real Estate and Stock exchange may
follow the example of the board of trade
and build home of its own. There is no
probability of early action in the matter
but il is being discussed. and the ground
now occupied by the old Novelty theater
at the northeast corner of Eighth and Wal
nut streets has been suggested as the most
probable site to be selected. Colonel f. II.
Phelps. prominent member OF the ex-
We have talked about the matter to
some extent, but nothing is likely to be
done for some time. We remember our ex-
perience with our present quarters and We
shall not get bitten again. No action VIII
be taken until all of the money is in sight
When We built our present exchange AT
seventh and Wall streets We borrowed
sHgOQ. and, as a consequence, we lost the
building and the $4,000 We paid for the
ground. This experience viii not be re-
peated If We know it.