Daily Kennebec journal. [microfilm reel] (Augusta, Me.) 1870-1975, 1902-01-23

ana operators proceed with caution,
not knowing which way the tide will
turn. The failure of Corn King
Phillips of Chicago, yesterday caused
quite a fiutter at the Chamber of Com
inerce, but no permanent break is
expected. and the market quoted down
without serious complications. The
trouble is said to have been due to the
l. cent break in rye on Monday
Phillips is credited with holding line
of l,0OO.OUO bushels, mostly in May
options. Phillips is saIo TO have on his
books also from four to five million
bushels OF May wheat. and about three
million bushels of May corn. Mr..
Phillips attorney gave out statement
saying that his client had been prac-
tically wiped off the financial slate"
Men whom he worsted in former deals
went for him., and they got him!"
Phillips hopes to regain his standing.
but for the present he may consider
himself dethrOned king. After
Fleeing the lambs" so numerically
for so long time. his scalp now hangs
at the belt of his former rivals; and
they in turn are liable to share his fat e
at the next turn of the thumb screws.
Grain speculation is a mighty good
thing to. let severely alone. may be
considered Il legitimate moral.
Among the many building enter
prises now in progress in the city may
be mentioned a $4,000 addition to
the famous Glass Block one of the
| largest and handsomest buildings in
the city built twelve years ago for IA
! department store. where almost every
description of goods may be purchased
in the line of housekeeping. dry pods
boots and shoes, jewelry, drugs and
medicines. and in fact comprising a
catalogue too elaborate to particular
ize. The original structure was OF
steel and plate glass. and when lighted
1 with hundreds of arc lights the most
brilliant effect is produced The one
story annex on Sixth street. which was
built shortly after the erection Oh the
main building. will be torn down tC
make room for the construction of a
seven story and basement steel and
glass structure, which will extend
along the entire frontage of the pres
ent annex. The new building will be
100 feet on Sixth street by 100 feet
deep. with frontage on Nicolle1
Avenue of 1G5 feet. and 232 feet or
Sixth street. Directly above the en-
trance terminating 402 feet above the
sidewalk, will be erected a mammotr
tower. which will be used for electric
display and entertainment purposes
Visitors will be conveyed to the top OF
the tower by means of an express ele-
vator. which will be in operation dur
ing all business hours of the day. The
| ~ l.,,;Ie to-,
the electrical tower at the Pan Ameri-
can exposition at Buffalo, and it is ex-
pected that when completed it vii
give practically the same effect. Al
electric plant furnishes power fol-
lighting the entire building and the
running of seven elevators in use or
the premises the floor capacity of the
entire building will be 254,500 square
feet. Work will be commenced or
the new building as soon as the
weather will warrant permanent build
ing operations, and the new structure
is expected to be ready for occupancy
in time for the trade next autumn.
Among other enterprises attracting
notice at the present time is the PARK
improvement and boulevard system
extension between the cities of Mime
lapolis and St. Paul. Should present
plans materialiZe there will at no dis
tant day be continuous boulevard
drive on both sides of the Mississippi
river. between the Twin Cities
which will serve to unite the people
in closer community of interests. ant
heal the jealousies that have been det-
rimental to the prosperity of botf
cities in the past. There are other en-
terprises worthy of mention, but this
article is already too tedious TO beal
prolongation.
Yours Very Sincerely
E. ROWELL.
Minneapolis. Mimi, Jan. Is. 1902.