OCR Interpretation

The day book. (Chicago, Ill.) 1911-1917, August 27, 1913, Image 2

Image and text provided by University of Illinois at Urbana-Champaign Library, Urbana, IL

Persistent link: http://chroniclingamerica.loc.gov/lccn/sn83045487/1913-08-27/ed-1/seq-2/

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Then arranged to buy the morning Record from Victor P. Lawson, and
gave Lawson bonds on the combined papers, which he called the Record
Herald. When Kohlsaat failed to make the Record-Herald go, Lawson, wjth his
bonds, pulled back the old Record and with it the Times-Herald, both prop
erties then being known as the Record-Herald. And Lawson has had that
paper on his hands ever since.
Frank Noyes ran it for him for a while, and then Kohlsaat took hold
as publisher for Lawson.
Recently Kohlsaat left the Record-Herald and took over the Inter
Ocean, and it was supposed that Jim Patten, Charles R. Crane and other
big millionaires were backing mm.
However, it is said that Kohlsaat
hasn't come across with the coin to
Hinman, who is trying to sell to
somebody else.
One reason for Lawson selling out,
if the deal goes through, is said to
be that he is getting to be an old man
now, is liable to drop off almost any
time, has no heirs to leave the News
to, as he has no children, and that he
has been worrying about what would
happen after he is dead to the great
newspaper property he has built up.
Besides there has been a persistent
pounding lately of both the News and
the Tribune for cheating the school
children of Chicago out of thousands
of dollars yearly through their leases
of school lands at a ridiculously low
valuation, compared with the valua
tion of property all around them.
In 1818 the U. S. government gave
the square mile between State, Madi
son, Halsted and Twelfth streets to
the state of Illinois to be held in trust
for the support of the public schools
and the education of the children of
Over 70 years ago nearly all of this
square mile, except the block -between
Madison, Dearborn, State and
Monroe streets, was sold for less than
$40,0.00, and was valued at over
$6,000,000 within 15 years after it
was sold, and is valued at hundreds
of millions today, without the im
provements. Years ago the unsold land was
leased by the Board of Education
with the provision that there should
be a revaluation every ten years, and
that the rent should be six per cent of
this valuation.
The expectation was that the
school children of Chicago would get
the benefit of the increase in the
value of the school lands.
The tenants who occupy this
school land pay no taxes on it.
Years ago, through connivance t)f
the tenants, a Board of Education
struck the revaluation clause from
the leases, so that until the end of
the 99-year lease, the Tribune and
News; tenants on school lands, would
keep on paying rental on the same
valuation, no matter, how much the
land increases in value.
It has been charged that an attor
ney for the Tribune was a member
of the school board that struck out
the revaluation clause.
In the United States senate,
Former Senator Lorimer charged
that the Tribune and News had been
robbing the school children of Chi
cago of many thousands of dollars a
year because of the striking out of
the revaluation clause, and pointed
out that the valuation on which these
papers were paying rental was less
than hah! the valuation of lands next
door to them.
Part of this newspaper deal, as it
is given to The Day Book, is that the
Tribune and News don't-like the pub
lic charges of robbing Chicago
school children, and are ready to get
off the school lands if the deal goes
through. Then the Tribune will
build one of the most, magnificent
newspaper buildings in the country
on Market street, and try to get the

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