The Minneapolis journal. [volume] (Minneapolis, Minn.) 1888-1939, 1902-11-15
EXPO PLAN NOT DEAD
Commercial Club Members Have Not
Abandoned Hope of Preserving
the Convention Hall.
They Will Endeavor to Find 500
Men Who Will Subscribe
5000 Each.

If there are 500 men in Minneapolis VINO
will subscribe 5000 each, the exposition
auditorium will be preserved for public
purposes and the subscribers may get
other than 'intagible returns from the in
vestment. This is the proposition that some
of the Commercial club members are work
ing on and already subscriptions to form a
good nuscleus for the desired fund.
The Commercial club public affairs COM
mittee has, in the year Just passed, APP
pointed various subcommittee to lnvestl-
gate the subject Of a convention hall Tor
MINNEAPOLIS Each committee so ap- |
pointed, has found that to buy a site and
build in tho heart Of the city would re-
quire from 100000 to 100000, and that'
therefore, it would not be advisable to
recommend such a plan. Further THESE
subcommittee have found that there Is
no city in the country where the conven-
ton hall Is In the central part of the city
where property prices are highest. Such
a thing they have found inadvisable FOR
various reasons, principal among which,
is that it Injuries property contiguous to 1t
for business purposes. This not only ap-
plies to buildings of this nature, but 1t
has been demonstrated to be the fact also
in case Of churches.
The committee as a result OF the investl-
cations made believes that the exposition
property has so many features OF adVant-
age, that, If any plan can be successfully
carried out, the one for its use Will be
the easiest and the only one that should
be attempted. OF all the locations out
side Of the very center there Is none so
convenient to all parts Of the city, and St.
Paul, too, as the exposition. The car
service is most excellent, as the following
lines go within one-half block:-Como-
Harriet, Oak street and Kenwood, Eighth
and Central, Monroe, Lyndale and Bryant,
Western and Second, and Bryn Mawr and
Eighth street Sc, with cars at intervals
more frequent than one every two minutes.
In addition to this, adds the committee,
the car barns are so close that extra cars
can be put into service on the shortest
possible notice at the close of entertain
| ments.
AS to the expense Of the plan the sub
committee now at work states the case
thus: - -
THE whole land, lover five acres) with
buildings which cost several hundred
thousand dollars, car be bought without an
outlay of any particular amount Of cash,
| and the present owners are willing to show
their confidence in the project by taking
one-third Of their low offering price in
| stock. The price asked Is $4,000, IT, taken
for public or semi-public purposes. This
includes the buildings and the five acres
Of land with approximately 500 feet 'front.'
age on Main street with desirable track
age. 1t also includes the art gallery and
pictures and works of art therein.
1.-THE Main street frontage is worth, at
a conservative figure, $125 per front foot
to day, and can be sold at that figure at no
very distant time. To remodel the build
ing, contractors Of good standing have
estimated, would require In round figures,
500, 900.
''It is therefore necessary to raise this
amount Of money only, in order to have
first-class convention hall. With this
amount it IS possible Also as the estimates
show, to remodel the part Of the building
not to be used for the auditorium After
taking out the space for the auditorium
there Will be left, approximately, 10000
square feet. It is possible to rent this to
very desirable tenants, and for purpose
entirely harmonious with the auditorium
at price that will pay all running ex-
penses OF the whole building. This being
! the case, whatever Is made from the hall
may be used to pay off the balance on the
purchase price, to improve the rest Of
| the property, or as dividends to the stock
holders.
1T Is seen by this that there will be
two means Of paying off the purchase
| price, namely, by the sale Of the unsued
land or by income from hall.
ION the point Of income from the hall
there are possibilities not in the minds of
the average citizen. If it will only be
| borne in mind that no effort has ever been
made to secure attractions for the ex-
position outside Of the effort to get con-
| Ventions, etc., which, as matter Of
| course, went to the Exposition building,
| 1t ought not to require much argument
to convince one that, with a competent
| and experienced manager whose sole bus
| mess would be the securing Of attractions,
| cooperating with the Commercial club
! in bringing conventions, ETC., and so on,
the number Of times a year when the hall
| he n. 1>> Nv:
creased. 1t is possible to- secure more
conventions. 1t is possible to bring grand
opera here every year for a week or two
instead Of two or three days in as many
years. Musical organizations would come
and play long engagements at popular
prices instead Of short ones at high prices
Horse, automobile and bicycle shows
, dairy exhibits, public speeches, politica
5 meetings and gatherings, festival occa.
| sions could all be held at the hall. 81
that, all told the receipts from the hal
would leave q fair balance on the RICH
, side each year. All that is required is
} suitable hall to go to, and there will b,
l no lack of engagements. If there Is n,
hall of course no attractions can come
but, as soon as the proper kind of plac'
is in readiness it will not require mucl
urging for exhibitors, managers an
others to seek its use and the people will
be only too glad to support the hall en-
terprise."
But there is one point to which atten
ton is called and which needs clear ex
= PLANTATION. 1t is the matter Of stockhold
= ers' liability on stock in such a, concern
n 1t is proposed to organize a stock cor
= poration and so to limit the purposes 70
d which it Is created, the scope Of the pow
ers of it's board Of directors and tn
d amount Of liability that though nomin
), ally there would be stockholders labil
e ity. in fact, there could at time b
e anything for which they would be liable
9 The old Exposition company never in
= Cured it's Indebtedness because of main
Q tanning building for exposition and al
H. lied purposes. Its debts grew out of get
ting up and giving entertainments in tn
hall. In order to pay these debts it wa
q necessary to have recourse to the liabil
r ity Of stockholders. This, 1t Is pointe
II out has given a prejudice against takin
l. interest in the convention hall project.
The company it is proposed to organic
| would be unable to incur liabilities fc
such purposes. The powers Of the direC
s tors would be limited to the buying an
e remodeling Of this particular piece {
= property The indebtedness would b
only that necessary for the purpose, an
that for which the money derived frol
n the sale of stock would be used. Whe
such bills were paid the liability wou]
| cease. and thereafter the company kee
: in repair, lease, sell and dispose Of.
4 whole or in part, the property owned b
\ IT, and use and operate the same or
portion or portions thereof for auditorium
1 convention and assembly purposes.