The Indianapolis journal. [volume] (Indianapolis [Ind.]) 1867-1904, 1899-07-08

Park Board and Others Discuss Means
to Buy IL.

The plan TO purchase the State lands
adjoining the Deaf and Dumb Asylum in
this city was discussed at conference in
City Controllers's Johnson Office last even
ing. There were present: John NJ. Spann
and Evans Wcollen. of the Commercial
Club; Capt w. Z. English and Charles E.
Coffin. of the Park Board and Controller
Johnson. Mr.. Spann. who had taken charge
of the preliminary work In the plan 10 Sc
cure the tract for city park. reported that
he had talked with State Auditor Hart TO
inform himself as TO the situation. He had
found that, up to the present time. but one
bid had been received by the State auditor
and that one, for s3l 600 had been with
drawn. Capt Hart had been given to un-
derstand however, that bid waA to be
sent ir, by another party for $4,000.
This set all present TO figuring out how
much real estate dealers could afford TO bid
on the land for subdivision purposes. be-
cause 1t was realized that. IL the city Sc
cured possession of the land for park pur-
poses, it must do so in competition with
such spectators. The appraised value OF
the land is 81 600 an acre, which is regarded
by everyone familiar with the property as a
very low valuation The average building
lot in that vicinity is valued at about $500.
which price, calculating on there being six
tually worth about 50 500 acre for subdi-
vision purposes. In discussing the matter,
however. Mr.. Coffin stated that in buying
land for subdivisions aStute dealers gem
orally took care not to pay more than one
half of what they could depend on receiv-
ing for the lots al retail This is made nee
essary by the interest charges on the land
and the delay usually attending the dis
posal of an entire subdivision, besides the
inevitable expense of taxes and street i'm
provements.
1t was, therefore. decided improbable that
real estate dealers could afford to pay
figure much in excess of the appraised
value of the land, and some shrewd COM
putation was done TO ascertain how much
mot mot toy to pay an exorbitant inquire and still
feel a certainty that its bid would not be
too low.
amount must be paid in cash and the rest
in one year and Controller Johnson gave
an opinion that the necessary ready cash
could be taken from the general fund 10
meet the first payment at the figure sug-
gested by the conference. which for obvious
reasons cannot be made public.
COUNCIL MAY OPPOSE 1T.
The next matter discussed was in relation
to the attitude the Council might be ex-
pected to assume toward the project. While
all present at the conference were agreed as
to the need of making the purchase. Con-
troller johnson expressed some doubt as to
the possibility of securing the support of the
CCtECllInen 10 the pail ne Sdiu thtic "ciS
many who thought the city had already pur-
chased enough land for park purposes. and
this element might be expected to oppose
IL e purchase, the more so as there were
MANY ether portions of the city which were
more entitled to parks than the neighoor-
hood i'm question. lie thought. however, that
when the emergency that confronted the
city properly explained 10 these people,
their objecrions might he overcome me
city. according to Mr.. johnson, had never
contemplated purchasing the land for seine
years to come, but the situation had arisen
where the city must secure the land now
or allow u to be sold and used for other
purposes. Mr.. Spann reported that the stale
officers were favorable 10 any plan by WEIGH
the city could secure the tract for park
purposes. but they would be compelled TO
sell IL according TO the plan lald down IN
the recent act of the Legislature. and. In
case any bid were sent in higher than the
one offered by the city. the state auditor
would be compelled TO sell 10 the highest
bidder.
In view of the shortness Of time. the
members Of the conference were al loss
as to what step TO take TO secure the land
for the city. Secretary Woollen. of the
Commercial Club. suggested sending In a
tentative bid agreeing to pay 500 more than
the highest Bid received, but this was de-
cided to be irregular and not 10 be thought
Of. A proposition for one or all Of the mem
bers of the Park Board TO buy the land 3
| individuals and hold ii in trust for the city
| until such time as the Council would ratify
the sale and appropriate the money to repay
them was also discarded as being too rislay
| a transaction for any person not in posi-
| city refusing 10 take II of his hands. IL was
| finally decided 10 have another talk with
Auditor Hart and devise some plan by
| which the deal could be carried through.