The Minneapolis journal. [volume] (Minneapolis, Minn.) 1888-1939, 1904-12-03

April 6, 1887, the consideration, being
1874, l25. Subscriptions were to become
binding only. when $4,000 was pledged.
In February, 1888, the committee an
nounced that this sum had been raised.
On March 10, 1883, g. Q. sedgwick was
contract was awarded July Is, 1890, for
erection and enclosing the snperstruc-
ture. Is T...s.-. @E~- :
The fnanciat troubles which were not
cleared away iuntil Oct. 81 of this year
began then. Before the contract for
discovered that the association would be
hard pressed to make payments for the
completion of the superstructure. Nev-
ertheless loans were secured and the
building was opened in 1892. n
The Building Mortgaged.
When business men began going to the
wall by the score, the officers first real
lied what the debts meant. The build
ing was mortgaged for large sums which
STAYED off disaster for a few years. It
is probable that the building would
have been lost if it had not been for the
untiring work Of George R. Lyman, the
the work for three years. He moved
his office to the Y. M. 9. A. and started
the slogan: 49,.
"a dime a day
49, The debt to pay
! His untiring labor was productive Of
much help, but could not ward off the
danger. In 1895 he found that the
total assets were something like $780,
900; He paid the association 100000
realize more than 5 cents on the dol
lar. In spite of this temporary relief,
| the debt soon crept up to sos, 900, some
Of which was interest due on interest
Under the administration Of G. S. Ward
general secretary, $4,000 was raised
the accrued interest, and $4,000 Of the
debt. The mortgage, which was over.
due, had been foreclosed Oct. 20, 1896
The year 1897 was one of strenuous eff
fort, every person in the organization
getting out and hustlippg. A new, loar
of $4,000 was secured and the build
ing redeemed Oct. 81, 1897.
/ The work from that day until Oct
III, 1904, was to raise the 100000: Thi'
has been accomplished largely thru thu
|eforts of the present president and sec
rotary, w. j. Dean and H. T. Goddard
| The other presidents who worked TO
the, building since the cornerstone wa
laid were G. E. Dyer, w. G. Gregg. an
I: @. Seeley, and the secretaries, J. H
Elliot, A. Baird and G. S. Ward.
1 Three Buildings Needed.
l. Outside OF the financial difficulties
the work Of the association itself ha
not increased by leaps and bounds. New
: Iertheless, there has been forward prog
ress, and today the work is SO multi
, form and successful that the chief diff
Guilty is to find sufficient quarters. TIL
ideal way to carry on the work woul
be to have at least three buildings q
different sections Of the city.
The membership in 1888 was 6O4, j
1885, $50; in 1887, 1928; in 1891 i
) dropped to 387, but when the new build
: ing was opened in 1892 the jump wa
!. taken to- ,438, which fell to 700 i
1898, and rose to 1879 June /, 1901
Since 1898 $50 new lockers have bee
put in, more than twice the origins
number. The boys work has increase
. until it has been found necessary to en-
: ploy secretary especially FOR then
: In the past six years $4,000 has bee
E paid for improvements beside the ru1
ming expenses. Another feature is tn
] educational work. At present It's me
= are taking courses at night. At fir.
. the class fees amounted to little MOI
= than the membership. Last year 1921
= = was taken in in fees. z. ss