The St. Louis Republic., 1902-06-21

Site of One of the City's Largest
Industrial Establishments to
Be Given Over to the Iron
Mountain Railroad
Yards.
WILL MOVE TO EAST ST. LOUIS.

Within a few weeks the st. Louis Cotton
Compress Company, one OF the Oldest lead
ing mercantile institutions of this city,
will cease to exist as q ST. Louis concern
and become an East ST. Louis institution.
The company has secured more available
quarters in East ST. Louis directly across
the river from the present site at Levee
and Rutger street. and by September I. at
the latest. will be housed in its new
quarters The present site will be occupied
by the yards OF the Iron Mountain Rail-
way.
The work of dismantling the buildings of
the Compress Company is well advanced,
tho wreckers having begun the demolition
weeks ago. The buildings occupied by the
plant were frame structures comprising two
separate pavilions, occupying the blocks
bounded by Rutger. Carroll. Main and the
Levee. There are 1900 bales Of cotton
stored in the warehouse, and these are be-
ing transferred to the new plant across
the river. with all possible speed In order
that the Iron Mountain may take posses
sion Of the site as quickly as possible. The
terms Of the sale of the property call for
its surrender to the purchaser by August
II, but it IS deemed impossible for the
transfer to be made before September /
at the very earliest.
The st. Louis Cotton Compress Company
was organized in 1873 by j. W. Paramore,
r. B. Wright and c. N. Donaldson. The
original plant occupied 800 by 200 feet The
size Of the plant now IN course OF denoIi-
tioin is 2,eC0 by 800. illustrating the extern
sive growth Of the concern in the htrity
years OF its existence. The organization was
originally formed for the purpose OF stor-
ing cotton from the South until it was
sold at auction. but later its scope was en-
larged by the installation OF congresses. and
the cotton received from the planters
in the original packages was compressed
nto the bale of commerce and shipped sll
over the world.
Last year the company handled 50e00
bales. OF this amount about one-half was
shipped to Liverpool about 800 bales a
year found their way TO Japan, and the re-
:nainder to the cotton mills Of this coun-
try.
1t is said that out Of the profits of the
concern in the early years of its exist
ence Mr.. Paramore and his associates built
the st. Louis and Southwestern Cotton
BelO Railroad.
The busy season OF the company extends
from December to April. in which about
5000 bales are handled the value of which
amounts to about 100000. The total busi-
ness handled by the company yearly
amounts to 100000 TO s11.00OO00. In the
thirty years of its existence the company
has paid out more than 100000 of fire in
surance and losses aggregatlng $4,000
Last October the plant was visited by a
disastrous fire, which entailed a damage Of
10000. In April, 1852. the encroachments Of
the high water of the Mississippi caused a
damage Of $4,000. The cyclone of May q, |
1895, tore hole through the entire length
of the two buildings. causing a loss of
sl0OoO0. These have been the most notable
and most expensive catastrophes that have
visited the establishment.
The price paid for the property by the
Iron Mountain is said to be S225,eO0. The
new plant in East st. Louis, which was
erected at a cost of s175,00O is one of the
most complete and thoroughly equipped in