The Saint Paul globe. (St. Paul, Minn.) 1896-1905, 1901-10-05

ize and largely increase business of all
KINDS at that important center, and it
Will be tributary to St. Paul
In the opinion of the consolidated COM
mfttee, there has no plan been presented
to our citizens for many years that is so
WoTtny OF encouragement and assistance,
and that will rebound so much to the
benefit of our city
The building proposed to be erected will
be substantial three-story brick build
ing, $50 feet by 200 feet in size, situated
street, 200 feet front, $50 feet on a side
street. and 200 feet front on the railroad
track.
This building will be erected by a cor
poration to be called 1.-THE Northwestern
FURNITURE Exchange" of which the prin-
cfpal manufacturers in st. Anthony Park.
who are directly interested In the scheme.
will be the directors and Stockholders
and all of whom will be tenants. Other
space will be leased to outside manufac-
turerS and to new concerns that will
shortly be established there.
This corporation has been formed with
$4,000 capital, which has been subscribed
and will be paid in full by the manufac-
turers directly interested.
They cannot afford to take any more
money out of their business for this pur-
pose, and therefore they appeal to the cit
liens of st. Paul for a loan, to be secured
by first mortgage upon the land and
improvements.
The plan Is to issue bonds Of the denomi-
nation of $3.50 each to the amount of $25-
0CV, running ten years, and bearing inter-
est at the rate of 6 per cent per annum
payable semi-annually, with the agree
ment embodied in the trust deed that
$1,000 shall be paid at the end of each
year for the first five years, and $1,000 at
the end OF each year during the second
nve years, and the balance at maturity
The net cost of the building and lot will
be $4,000 in cash, of which proof will be
furnished to the trustee before the bonds
are delivered.
ic oil
ing per cent interest, and the committee
is satisfied that the interest will be
paid PROMPTLY, and that all the bonds
will be paid as they become due, in ac-
cordance with the trust deed.
space has already been rented in the
proposed building to re1iable parties at
gross rental of S., $780, the remaining space
to pc rented at the same rate will produce
81 800 additional, making total income
OF $l0,O0O, but the estimated total expense
taxes, repairs, insurance and for fuel and
ngnts, and care and operation of the
building, and the expense of carving on
the business of the corporation, will II,
about "a, ,OG0, leaving a net profit of about
$500. All Of this profit will be used in
paying interest and in paying the stated
annual amount of the principal.
The committee most strongly recom-
mends and urges our citizens to subscribe
Tor these bonds, both as a good invest
ment, bearing high rate of interest, and
as means OF greatly increasing and de-
veloping tie manufacturing interests of
the city, and esta blishing and cementing
closer connection with the business In
terests of st. Anthony Park
The following is a list of the stock
holders with the amount of their stock
holdings in the Northwestern Furniture
Manufacturers Exposition association:
:. E. Brace & Son. ACKNOWLEDGEMENTS "a 500
Phoenix Chair company ............ 1900
Fred c. Genge & Co.........,......... LOCO
,. II. Brace r......................... 700
american Folding Bed company. 800
Gruenhagen Bros ..................... 500
a. w. Luck ..-..................s... 6O0
Windsor Spring company. 500
George II. Schellenberger ........... 300,
The following persons have executed
leases for. the amount of floor space at
the price Indicated herein:
Square Rent
Renters. Feet. Per An.
Phoenix Chair company. 1000 5000
ST. Anthony Furniture Co. 1000 800
Fred G. Genge & Co........ 5000 700
s. e. Brace Jr., &c Co. 1900 500
American Folding Bed Co. 5000 500
David +. owen. 5000 500
Gruenhagen Bros .......... $500 450
Windsor Spring Co.......... $500 45O
Manufacturers club ....... $500 800
Photograph gallery ........ $500 45O
Totals .................37,O0 $3.50
Income, space now leased. $1,000 $3.50
Income. space to be leased. $4,000 1900
Total income ........... 49,. $40, $50
ItemiZed expense for operating as Office
and exposition:
Cont,ruad vs~h4H Do