The St. Louis Republic. [volume] (St. Louis, Mo.) 1888-1919, 1902-11-16
Twelve-Story Modern Railroad
Headquarters for Southwest
Corner Ninth and Olive.
STRUCTURE TO COST 100000.
Mercantile Trust Company and
Isaac T. Cook Close 99-Year
Lease for Emile Property
Financed by Missouri Trust.

A new twefve-story modern commercial
structure, to be known as the Frisco build
ing, and to be occupied by the Frisco sys-
tenn as a general railroad headquarters, will
be erected on the site of the Emile build
ing at the southwest corner of Ninth and
Olive streets. 'at a cost of about s,oo.VN.
The Mercantile Trust Company, in con-
junction with Isaac T. Cook of the Chemi-
cal Building Company, have closed a nine
ty-nine-year lease of the Emile lot. and the
four-story stone and brick building, which
was one of the first exclusive office build
1nss in St. Louis, will be wrecked.
The location is diagonally opposite the
Post Office, and across Olive street from
the Century building, which is one of the
most expensive Office buildings in the West.
The lot fronts 10 feet on Olive street by
109 feet and two inches on Ninth street
The property is owned by the Corner Real
ty Company, a syndicate composed of we'll
known capitalists organized by the Mer-
o-ntile Trust Company's real estate depart
ment about a year ago.
This property has been leased to a new
syndicate, the Frisco Building Company.
organized by Isaac T. Cook. The property
was purchased by the Mercantile Trust
Company a year ago for $4,000. The terms
of the lease provide for an annual rental
for the first five years of SO, 500 and $4,000
for the remaining ninety-four years.
L. E. Anderson, who negotiated the trans
action for the trust company, stated that
the transaction was significant, as showing
the appreciation of the value of well-located
downtown property. AT a 4 per cent basis
the lease represents a value of S25.0N. The
terms Of the lease provide for the erection
of q modern office and commercial building
at a cost of about three-quarters of a mil
lion dollars, the lessees paying the taxes.
making the rental net to the owners.
The matter of securing suitable head
quarters for the rapidly expanding Frisco
system was left to Mr.. Cook. On account
Of the rapid enlargement Of the system. it
was found necessary to secure much more
space for general office purposes than could
be obtained in their present location the
Commercial building. the latter being
crowded.
The Emile building win be torn Town as
soon as present leases expire, which prob
ably will be in about sixty days. The new
building will be ready for occupancy by the
Frisco some time between January 1 and
March 1, 1904. The twelve-story modern
firepYoof building will be constructed of
steel and brick. in accordance with plans
drawn by Eames & Young. architects. Inc
Frisco Building Company has closed q con-
tract with the st. Louis and San francisco
Railroad Company to lease the new build-
ing as soon as it is completed at an annual
net rental Of $4,000.
The deal was financed through the Mis-
eoun Trust Company. August Schia1y, pres
adert Of the Missouri Trust. states that his
company has contracted to take the entire
Isaac T. Cook. T. Darlington Morfit, ". 8.
a which will amount to $550.0O0. 70 run
fr twenty-five years. and draw interest at
) per cent
Contract for constructing this new orna-
ment to Olive street has been let to the
James Black Masonry and Constructing
Company, which recently completed the
new building for the Barr Dry Goods Com
and the new Ferguson-Mckinney
building.
The Frisco Building Company has a CAPT.
tai of $500, 900. part preferred and part COM
mon stock. Interested in the company are
Isaac 7. Cook. T. Darlington Motif. w. 8.
Eames, Thomas C. Young, James W. Black.
James T. Cook. Jr.; William McCrea, w. ID.
P. Turner. William A. Gill. Daniel g. Tay-
lor and Mrs. Celeste PIN.
when the new building is completed, the
Frisco will unite the various head omces
of it's new lines under the one roof.