The Bismarck tribune. [volume] (Bismarck, N.D.) 1916-current, 1923-07-30
NEW NIC0LLET
ON OLD GROUND
Is PLAN n ED
Sale of Securities Opened to
Finance Huge Structure
In Mill City

minneapolis, Mlnn.s July OV.- liz
new Nicollet Hotel, the latest word
in hotel construction, will soon open
its doors and offer its hospitality to
the citizens of Bismarck when bust
ness or pleasure calls them to Mimi
capolis.
Today the last step toward final
contamination of the plans for the
structure will be- taken, when ST.
100000 in First Mortgage Bonds will
be placed on sale and offered to in
vcstors through the Northwest. A
few weeks ago prominent business
men of Minneapolis subscribed to ST.
100000 worth Of stock in this insti-
tuition. A committee of bankers, hotel
and real estate men will supervise
the property until such time as the
bonds are entirely paid off.
The building, standing as it does
on the site of the old Nicollet, facing
the beautiful Gateway Park and but
a minutes walk from depots, is ideal
ly located. The design, created by
Holabird and Roche, one of the lead
ing firms ofArchitects in the United
States, will insure the structures be-
ing an ornament to the city.
The plan, which follows in mea-
sure those of the most modern hotels
of New York and Chicago, insures for
tho Northwest what will probably be
one bf the up-to-the minute hostel
rics in the entire country; but with
all it's elegance, the management, CO.
operating with the business men of
Minneapolis, has insisted that accom-
modations shall be provided for
guests at reasonable cost. Prices as
contemplated, and which will guaran-
tee an adequate profit, will be less
than any first class hotel in the coun-
try, according tospreseht plans.
"For sixty-five years." said Mr.. E..
P. Wells. who fifty-thrce years ago
was married at the old HotelNicollet
and whose firm, the Wells-Dickey
Company, is offering the bonds of
the new Nicollet Hotel, 'the old Nj
aollet stood at the gateway to Mimi
capolis offering to friend and strang-
or alike ). the hospitable spirit of
Minneapolis. We who were a part of
the past generation and who partici-
pated in many festivities of. histori-
cal character, and to whom in per-
sonal way, the institution meant SO
much, will regret its passing. But
for these regrets there is compensa-
ton in Knowing that the old name
and the old spirit will continue to
live and serve the coming generations
through the beautiful structure that
is now rising where the venerable
hostelry has stood for these many
years. 1t is a serviceable monument
standing to the credit of the entire
Northwest, for the. 'Nicollet' is quite
es familiar and means as much to
the citizens of our own and adjoin-
Ing states, who partake' of its hospi-
tally at frequent intervals, as it does
to the city Of Minneapolis"
p With the completion of the new
Nicollet in sight, public spirited cit
liens are now turning their attention
to the further development of the
gateway into a beautiful civic center,
with the hotel as the key, thanked by
other buildings of public or semi
public nature extending in both di-
rections from tho Great Northern
and Milwaukee stations.
The bonds which are being offered
today are secured by first mort
gage on the building and all its new
'lya installed furniture and fixtures,
together with an eighty-five year
lease on the ground. The bonds will
mature serially running from three
to fifteen years and will bear 6 1-2
percent.