Large bright white light hovering in minnetonka, mn, summer, 1969

late evening I was walking to friends house three doors away to the east.  It was very dark, while walking along I noticed that there were strong shadows from the pine trees growing north east of me.  I looked to see a very large round bright object or light.  It appeared to be stationary and hovering in the air no more than 300 meters away.  I know it was close becuase it was positioned between myself and a new water tower under construction across a small valley from my location.  It was on a heading to the north east of me at less than a 30 degree angle up.  There was no noise at all but it was very oviously not any noral aircraft due to lack of noise and closeness to the ground no more than 100 ft or so.  I ran to get my friend about whose house was fifty yards away but lost sight of object when I went to door.  WHen we came back out it was gone.
Date is approximate.  PD