The Saint Paul globe. (St. Paul, Minn.) 1896-1905, 1899-05-23
ALL KINDS OF ASSETS
ALLEMANNIA OFFERS TO SETTLE
WHAT THE BANK OWES
THE CITY
WILLIAM R. MERRIAM'S PAPER

WILLIAM R. MERRIAM'S PAPER
Also the Property on Which His
Residence formerly Stood Is In
cIuded, With sOune Other Things
-Aldermanic Committee to Think
1t Over-Long-Dista Telephone
Franchise Finally Passed.
AT an adjourned meeting of the board
of aldermen last evening Edward Vanish,
president of the Alemannia bank, sub
mitted a proposition on behalf of the
board of directors, by which the city was
asked to accept job lot of assets in lieu
of $99,OOO which the bank owes the city
When the Allemannia bank closed its
doors, In January 1897, the city had on
deposit in the institution $120, 1917. IN
May, 1885, an agreement was entered into
between the city and the sureties on the
bond given to the city by the bank by
which one-fifth of the sum was paid In
cash, together with 1888 accrued interest.
The balance was divided into four certif-
icates, due IN one. two, three and four
years, with interest at per cent. The
first certificates come due May 27, and
the proposition made by the bank, which
in the meantime has ben reorganized as
presented to the aldermen last evening,
reads as follows:
This bank is indebted to the city of st.
Paul in the sum of 500. 1904. According to
the plan of reorganization the first of the
ceptificates will mature May q of this
month.
We regret that we are not in position
to pay the same according to greement.
We therefore make the following propo-
sition:
We will give the city lots u. 3, IA. Is,
16, II. IS. 10. 20 and p. Of Merriam's re-
arrangement known as the Merriam
homestead.
Twenty thousand dollars of the capital
stock of the Hauser & Sons Mating COM
pany.
Notes of W. R. Merlin aggregating
SIS, 163 IL. due as follows:
May l. 1900. $500; May l. 1901, &, 81 50;
May /, 1902, S., S3l. SO.
Claim of Anchor Investment company
against the city for $s5z,l2 for lot So block
for park purposes.
This offer is in full settlement of the
city's claim against the bank.
We trust that the consideration of this
proposition will not be delyed as what
ever may be done must be done this
week. This proposition is authorized by
the board of directors.
Edward Vanish,
President Allemannia Bank.
The proposition was referred to the
committee on ways and means for cOnSld-
GRAFTON and investigation. Some of the
aldermen were of the opinion that the
property known as the Merriam home
stead, which included a tract of land 224
feet on Sherburne avenue, 300 feet on
Cedar street and 207 feet on East Univer-
sity avenue. was hardly worth $4,000 to
the city, which would be the value placed
on it by the directors Of the bank, consid-
ering the other assets offered being Of
full value.
The board concurred In the amendments
to the ordinance granting the American
Telephone and Telegraph company a
twenty-five year franchise and then pass
ed the ordinance. One of the sections pro-
videS that within ninety days after the
passage and acceptance of the ordinance
the company is to have, telephone COM
munieation established between st. Paul
and Chicago. Attorney Tighe, who has
been representing the company in secur-
ing the franchise, stated last evening that
the ordinance as passed would be ac-
cepted blythe company, and 1t was pos
sible that st. Paul would have the .advan-
tage of long distance telephoen conncc-
tons in much shorter period than the
ninety days provided for in the ordinance
The franchise also allows the company
to operate local exchange, and If such
an exchange Is operated the company is
to pay per cent of it's gross earnings
into the city treasury annually. All that
IS needed now to make the ordinance
operative is to have the mayor sign It,
and after its official publication for the
company to file a bond In the sum of
$1,000, and accept it.
The board concurred in the resolution
passed by the assembly directing the
building inspector to report forthwith to
the council the number of permits issued
In the last six months for billboards, the
names OF the persons granted permits
the amount Of bonds filed and the names
of the bondsmen in each instance
The ordinance passed by the assembly
prohibiting the erection of street signs
unless a permit is obtained and a bond
filed In each case, was, on motion of Aid
Knauft, referred to the committee on
streets
An order passed by the assembly direct
ing the board of public works to discon-
tinue 457 gasoline lamps was concurred in.
The lamps to be discontinued are located
in the wards as follows: First, II; Sec
ond, 40; Third, 1; Fifth, IT; Sixth, "a; Sew
enth, IS; Eighth, 232; Ninth, SO; Tenth. 2s:
Eleventh, IL. The lamps are to be re-
placed with gas lamps
The principal object of the adjourned
meeting was to consider the report of the
special joint council committee on mar
ket site. but 1t was decided time could be
gained by having the consideration Of the
report postponed until the board and as
sembly could meet together and discuss
the matter.
Aid. Reeves moved that the board go
into committee Of the whole and discuss
the report.
Aid. Murphy moved. as an amendment.
that the board adjourn to Wednesday
evening, when the assembly would be
in session. This, he said, would save
time. and speeches to be made by parties
interested would not have to be repeated
before the two bodies separately. The
amendment was carried by vote of q
to 4, those voting against adjournment
being Messrs. Bell, Bloomquist, Kenny
and Knauft.
at doesn't cost a cent