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Like all Western cities, Chicago has had her reverses. In 1835 -6 real estate had a fictitious value. The whole country was mad with the spirit of speculation. When the crash came, in the latter part of '37, hundreds in this city found themselves bankrupt.Real estate went down to a very low figure, reaching "bottom" in 1842. Since then, it has been steadily rising with the increasing prosperity of the country, and if the judgment of our most cautious, far-seeing business men can be trusted, it will never be any less. That judgment is based upon an array of facts, the accuracy and influence of which, upon the growth of Chicago cannot be doubted. In only one year from the first of January next, we shall have four thousand miles of railroad centering in this city, counting in most cases their extension only in a single State beyond our own; and what is of more importance, they penetrate one of the finest agricultural regions that can be found in any country. By that time, the Sault Ste. Marie canal will be done -opening to our commerce the rich mines of Lake Superior. The iron and the copper of that region will here meet the coal from our State, and build up the most extensive manufactories upon the continent. One of the finest canals in the world connects us with the Illinois and Mississippi rivers, and in addition to all this, Chicago holds the key to the commerce of our magnificent lakes, giving us a coasting trade when lake Superior is opened to us by the Ste. Marie Canal, of three thousand miles. The most sagacious statesmen, and the ablest commercial men in this country and in Europe have, therefore, a broad basis for the opinion that Chicago is soon to take rank among the three largest cities, and ere long as the second city upon the American continent.

The rise in real estate, and the prices at which it is now sold in view of such facts are easily explained. The following table, made up from the records of the original sales in this city, will be found very interesting. The last column showing the present value of property, is the average of the prices at which they would now sell, as given us by three of our oldest and most reliable real estate houses in this city. Many of the owners we presume would not sell at these figures, and we have no doubt should any of this property be put in the market, it would readily command at least the estimated value given in the table. The price of "the lands" may appear enormous, but four of the parcels are now in the thickly inhabited parts of the city, and the valuation is probably below rather than above the mark.

We quote only the sum total of the items in the table; the amount of which is as follows:

Value of certain lots in Chicago, in 1854,
Original price of the same lots in 1830,

$3,770,800 4,511

There is we believe but one of the above lots, and only a fraction of that, which is now in the hands of the original purchaser.

That is the lot owned by P. F. W. Peck, Esq., and in reality he was not the first purchaser, for it is the same lot bought by Mr. Peck of Mr. Walker the receipt for which was quoted in the "History of Chicago." That receipt was recognized by the commissioner and the deed was made directly to Mr. Peck.

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Our citizens have all noticed the splendid drug store of J. H. Reed & Co., No. 144 Lake street. The day it was opened, Oct. 28, 1851, we stood in front of the store conversing, with the owner of the building, Jeremiah Price, Esq. Pointing to one of the elegant windows, said Mr. Price, "I gave $100 in New York for that centre pane of French plate glass. That is exactly what I paid Mr. J. Noble for this lot, 80 feet front on a part of which the store stands, when I purchased it in 1833." That lot cannot now be bought for $64,000. Wolcott's Addition, on the North Side, was bought in 1830 for $130. It is now worth considerably over one and a quarter million of dollars. Walter L. Newberry, Esq., bought the 40 acres which forms his addition to Chicago, of Thos. Hartzell, in 1833, for $1,062. It is now worth half a million of dollars, and what is fortunate for Mr. Newberry he still owns by far the largest part of the property. So late as 1843 one half of Kinzie's addition, all of Wolcott's addition, and all of block 1, Original Town, were sold for $20,000. They are now worth, at a low estimate, $3,000,000. Any number of similar instances might be given of the immense appreciation of real estate in Chi

cago.

The following table exhibits the total valuation of real and personal property in Chicago as taken from the Assessor's books for a series of years. It must be remembered, however, that property is assessed at far below its real value:

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The following shows the assessed value of the different kinds of

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It will be noticed that the value of property has nearly doubled in the year 1853. This fact corresponds very well with the increase of population, that being fifty seven per cent.

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CHURCHES.-We stated in our History that the Methodists were the pioneers among all religious sects in Chicago. They were fe

presented here in 1831-2-3 by the veteran Missionary preacher, Jesse Walker. The first quarterly meeting was held here in the fall of 1833 in Watkin's school house. The building stood on the south-west corner of Clark and Old North Water streets. There were present at that meeting John Sinclair, presiding elder; Father Walker, missionary; William See and William Whitehead, local preachers; Chas. Wisencraft, Mrs. R. J. Hamilton and Mrs. Harmon. In the spring of 1834 the first regular class was formed. Father Walker had previously built a log courch at "the Point," which had been occupied for holding meetings for a year or two. Soon after the class was formed in the spring of 1834, a small frame church was built upon North Water street, between Dearborn and Clark streets. The lot on which the church now stands, corner of Clark and Washington streets, was purchased in 1836, and in the summer of 1838 the church was moved across the river on scows and placed upon the lot. It was enlarged several times to accomodate the increasing congregation. The present church was built in the summer of 1846.

The First Presbyterian is the oldest church in the city. It was organized on the 26th of June, 1833, by its first pastor, Rev. Jeremiah Porter, now of Green Bay. Mr. Porter was chaplin of a detachment U. S. troops, who came here from Green Bay early in that year. When organized it consisted of twenty-five members of the Garrison. The names of the citizens who united with it were -John Wright, Philo Carpenter, Elders; Rufus Brown, John S. Wright, J. H. Poor, Mrs. Elizabeth Brown, Mrs. Mary Taylor, Mrs. E. Clark, Mrs. Cynthia Brown.

Ten churches have since been organized in whole or in part from this church. It is now in a very flourishing condition under the pastoral care of Rev. H. Curtis.

The first Catholic church in Chicago was built by Rev. Mr. Schoffer, in the years 1833-4. It was located somewhere in State street. It now stands in the rear of St. Mary's Cathedral, and is used by the Sisters of Mercy as a school room. St. Mary's is the oldest Catholic church in the city. It was opened for divine service on the 25th of December, 1843. Its pastors then were Revds. Fischer and Saint Pailais, now Bishop of Vincennes. The house was completed by the late Bishop Quarter, and consecrated by him December 5th, 1845.

St. James is the oldest Episcopal church in the city, it was organized in 1834. The following were the first members: Peter Johnson, Mrs. P. Johnson, Mrs. Juliette A. Kinzie, [wife of J. A. Kinzie, Esq.,] Mrs. Frances W. Magie, Mrs. Nancy Hallam, Mrs. Margaret Helm.

The first Baptist church was organized by Rev. A. B. Freeman, on the 19th of October, 1833. The following were its first members: Rev. A. B. Freeman, S. T. Jackson, Martin D. Harmon,

Peter More, Nath'l Carpenter, John K. Sargents, Peter Warden, Willard Jones, Ebon Crane, Samantha Harmon, Lucinda Jackson, Betsey Crane, Hannah C. Freeman, Susannah Rice.

The first church erected by this society was built on North Water street-the precise time we cannot give. In 1843-4 the society built a large brick house on the lot now owned by them on the south side of the public square. It was burnt down in October, 1852. A new church is now in process of erection which will cost at least $25,000.

The first Sunday School in Chicago was established by Philo Carpenter, Esq., and Capt. Johnson, in August, 1832. Mr. Carpenter, in company with G. W. Snow, Esq., arrived here on the 30th of July, 1832. The school was first held in a frame, not then enclosed, which stood on ground a short distance northeast of the present residence of Mrs. John Wright on Michigan Avenue. It is now washed away. The school consisted of thirteen children. It was held during the fall of that year and the next season, above the store of P. F. W. Peck, Esq., at the south-west corner of Lasalle and Water streets. Rev. Mr. Porter also preached in the same place. In the fall of 1832 Chas. Butler, Esq., of New York, presented the Sunday School with a library, and it soon increased to 40 or 50 members.

The first Congregational church was organized on the 22d of May, 1851, on the west side of the river.

The following is the present list of churches and ministers in Chicago:

Protestant Episcopal.-Trinity Church, Madison, near Clark street, Rev. W. A. Smallwood, D. D., Rector. St. James Church, corner of Cass ard Illinois streets, R. H. Clarkson, Rector. Church of the Atonement, corner of Washington and Green strs., west side, Dudley Chase, Rector. St. Paul's Free Chapel, Sherman, near Harrison street, J. McNamara, Rector. Grace Church, corner of Dearborn and Madison streets, C. E. Swope, Rector. St. Ansgarius Church, corner of Indiana and Franklin streets, Gustavus Unonius, Rector.

Presbyterian.-First Presbyterian Church, corner of Clark and Washington streets, Harvey Curtis, Pastor. Second Presbyterian Church, corner of Wabash Avenue and Washington street, R. W. Patterson, Pastor. Third Presbyterian Church, Union street, between Randolph and Washington streets, west side, E. W. Moore, Pastor. North Presbyterian Church, corner of Illinois and Wolcot streets, north side, R. H. Richardson, Pastor. Reformed Presbyterian Church, Fulton street, corner of Clinton, west side, A. M. Stewart, Pastor.

Congregational. - First Congregational Church, Washington street, between Halsted and Union, west side. Plymouth Congre

gational Church, corner of Dearborn and Madison streets, N. H. Eggleston, Pastor. New England Church, corner of Wolcott and Indiana streets, J. C. Holbrook, Pastor. South Congregational Church. There is preaching regularly by Rev. E. F. Dickenson, at the Church near American Car Co.'s Works, at half past 10 o'clock, A. M., every Sabbath. Also, at 3 P. M., at the New Congregational Meeting House, corner of Clark and Taylor streets, near the Southern Michigan Railroad Depot.

Lutheran.-Norwegian Church, Superior, between Wells and Lasalle streets; Paul Andersen, Pastor. German Church, Lasalle, between Indiana and Ohio streets; J. A. Fisher, Pastor. Church, Indiana street, near Wells; Augustus Selle, Pastor.

German

Baptist.-First Church, burned down, now worshipping in the "old Presbyterian church, on Clark, near Madison st.; J. C. Burroughs, Pastor, Tabernacle Church, Desplaines, between Washington and Madison streets, west side; A. Kenyon, Pastor. Salem Baptist Church, Clark street, between Jackson and Van Buren; J. R. Balme, Pastor.

Methodist Episcopal.-Clark Street Church, corner of Clark and Washington sts.; J. Clark, Pastor. Indiana Street Church, between Clark and Dearborn streets; S. Bolles, Pastor. Jefferson Street Church, between Madison and Monroe strs., west side; E. H. Gammon, Pastor. Owen Street Church, corner of Owen and Peoria streets, west side; S. Guyer, Pastor. Church, between Polk and Taylor, west side. 'Church, near State street; F. A. Reed, Pastor. Indiana street, between Wells and Lasalle sts.; German Church, Van Buren street, corner of Griswold; A. Kellener, Pastor.

Clinton Street Harrison Street German Church, C. Winz, Pastor.

Methodist Protestant.-Methodist Protestant Church, corner of Washington and Jefferson streets; Lewis R. Ellis, Pastor.

Catholic.-Cathedral of St. Mary's, corner of Madison street and Wabash Avenue; Patriek Thomas McElhearne and James Fitzgerald, Pastors. St. Patrick's Church, corner of Randolph and Desplaine streets; Patrick J. McLaughlin, Pastor. Holy Name of Jesus Church, corner of Wolcott and Superior streets, north side; Jeremiah Kinsella, Pastor. St. Peter's Church, [German], Washington, between Franklin and Wells streets; G. W. Plathe, Pastor. St. Joseph's Church, [German,] corner of Cass street and Chicago avenue, north side; Anthony Kopp, Pastor. St. Louis Church, [French] Clark, between Adams and Jackson st.; I. A. Lebel, Pastor. St. Michael's Church, corner of North Av. and New Church street; E. Kaiser, Pastor. Church St. Francis Assisium, west side; J. B. Weicamp, Pastor.

New Jerusalem-Swedenborgian.-Place of worship, corner of Dearborn and Randolph streets; J. R. Hibbard, Pastor.

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