We pass the grand edifice of the Holy Spirit Cathedral and come to the fifth square of Chernivtsi, which is named after its church – Soborna Square (Cathedral Square). It was formed in the second half of the nineteenth century and located on the top plateau, where Chernivtsi stretched. Earlier the area of this hill was used for summer St. Peter’s Fairs: here farmers sold cattle, small animals, horses, etc., and later on the square one of the urban markets was arranged, where farmers traded products, craftsmen – their works. A Regional Administration was built in 1873 on the southern side of the square; a small park was laid in front of it; on the occasion of centenary of Bukovyna joining the Danube monarchy a monument to Austria was erected there. Since that time the square was called Austria Square. Later the name changed depending on the state submission of Bukovyna. After World War II a majestic Monument of Victory was set on perimeter of the square, along Chervonoarmiyska Street. Now the square is a traditional venue for events of Chernivtsi residents.