The Pensacola journal. (Pensacola, Fla.) 1898-1985, 1908-08-14
OLD LAND MARX
To DISAPPEAR
Property Has decreased in
Value Nearly SIX Times
in 25 Years.

Twenty-Five years ago A, V. Clubbs,
of this city, erected a three-story
building at the corner PalafOx and
Government streets. The building
itself was bUilt at a ost of $4,000.
the site being valued al $4,000. This
week, the American National Bank
people, its recent purchasers, have be
gun tearing down the DId land mark,
preparatory TO the eectiOn of the
first ten-story building of which the
city will be able to bast. They paid
the sum of SS7, 800 70 the site upon
which the new building is TO stand. a
fact which, when considered from the
standpoint of years an the nature or
the investment made, speaks volumes
indeed for Pensacola prosperity as
measured by the last quarter century.
and shows an increse in value of
local property which averages salts
factorily enough witt the march OF
progress during the lme which has
elapsed since the initIl purchase was
made
Twenty-Five year sgo, in fact you
could buy a businesSsite on a pTOmI-
nent corner of the dy of Pensacola
for $4,000 Today yu pay nearly six
times as much for tie same piece OF
p1OptAAE anu OA ht-AAON NOAAoAhNL NllC
bargain a bad one, either.
History of he Site.
In the year 1875, ne property loca-
ted at the corner of PalafOx and Gov
eminent streets, upon which had been
built a small One-stOry hiding, was
leased for a period of ten years from
the heirs of Louis Jersbn, then in
France. by Colonel T. I Wright.
gentleman prominent in local inter
estS and who at that earlyHate in the
cjtys latter day progress n, was al
ready laying the fOund4On for her
| future as a commercial IentTe. Col.
Wright, who is now a Hired mer-
chant living in NaSnviI, Tenn, Is
one of the best known lnanciers OF /.
the South, and his infllhce in Pen T.
sacOla proved of no pail ConSe- /
Quence at the time WITH he puT-
chased the aforesaid buiEng, and be- !
gan the operation of P$acola's one /
giant" dry goods establishment
The property incIUdir a frontage
of 100 feet on Palafox Street, was
| finally purchased from e agents at /
/ Lyons, France. for the i'm of $4,000 /
| francs, or about SCHOOLS new own /
ers being W. A. BlOunt1- V. Ciubbs /
and Colonel Wright, the far-seeing /
! Pensacolians, wnO event. that time |
possessed an insight inta promising /
| future of the city, andsere not in /
sensible to her future delOpment.
| Colonel Wright had sserved the |
extreme corner for hibeIf, which, /
! however was finally hrChaSed by /
Mr.. ClUbbs.
As late as the year 30, then. the |
lone-stOry building, lOcat at the pres
ent site of the one nOBeing demol- |
ished, stood, the emf valuation
! being $4,000 1t was ahat time &C
cupied by the MerchaI Bank. the
! firm of Andrews and OFT. and by
| the local Office of the sStern Union
Telegraph Company
Made Three-Stor BUIIdinu
As the town progress. Mr.. CIubbs
decided TO improve hisbTtion Of the
property in manner le1tting the
conditions which then infronted the |
business men in whCsaauds the de-
velOpment OF the rally growing
city appeared to rescIn the wear
l1SS3. in fact, the deciA was finally
made 70 erect thfstCTy brick
building. in place OF Il frame ztruC-
trre then in use. the srk being &C
complished. and The fIdilG raised
without the ocCUTantSha-ing been
forced 70 move duril the entire
procedure
81 this time. the pTprry was val
ued al $4,000. and he bafdfn-.
when completed. had In erected n
d cost OF some S20.t Ten years
acO il was sold 10 Mes. Kevsa- an.
Rudolph for si5.00O. Ia ten years
/ more il served its UHIneSs. wac-
a. the most desirable r available H.
the city whereOn "a q taeu man
moth new building. h Ame.rr.a
National people deCit 70 Du-chlse
IL a. the sum o. SS75
Figured in Loct4fsto-y.
| The thTee-StOry buig now beiDC
demolished. was buIand destined
BY 4 Y Clubbs. EaCOTs-s w4r
known contractor. Z NAM ,-e7-
Il stood a the beztIs5-cSs r-=.-
ing Of he civ. and IT, YEAR 1s--
when the old ruSt0rcISe 5u-7-E
ii was rented by the te-n-eu- md
the entire second StdEiven over 70
the various deDa-tuE o. the So
vice as then -ep~eSesF N The CRY
| SueScrIo- tor Re -Curnal.