The Evansville journal., 1870-07-21
Hnfel MnetInp.

The soliciting Committee Of the
citizens interested IN the project to
erect a new hotel, met yesterday
morning, at the Merchants National
Bank.
Captain r. P. Carson presided and
Matthew Henning, Esq acted as Sec
retary.
The committee, after thoroughly
canvassing the prospects of the enter
prise, came to the conclusion that its
success depended largely on the sub
soriptions of parties Immediately in
terested in its location. On motion,
Cant. F.P. Carson, P. Semonin and
w. Il. HoIlingsworth were appointed
a committe to draft resolutions to that
effect. and madsthe following report
Peso7red, That it is the sense of
this committee that the action of par
ties who are locally interested, by
owning property in the vicinity of the
proposed site, which will be affected
by the building of hotel on the cor
ner of First and Locust Streets, will,
to a considerable extent, determine
the success or failure of the enter.
prize.
Resolved, further, This committee
adjourns to meet o-morrow morning
at the office Of the Merchants Nation
al Bank, at 8 o'clock. at which meet
inc all parties interested are respect
fully invited to be present.
The meeting then adjourned.
The following is the form of agree.
meut under which the proposed sub
scriptions are to be made:
This agreement, made this 18th day OF
July, 1870, by and between J. A. Lemcke,
ners under the firm name of ]. A. Lem eke
q Co.. of the one part, and such other par
ties as may subscribe their names heIeun-
TO, for themselves severally and respect
lively, witneEseth: That the said ]. A.
Lemcke eco. do hereby agree and bind
themselves, on or before the Goth day of
August, 1870, to purchase of Marcus Sher-
wood, Esq, Of Evansville, Ind, (providing
he will sell to them), Lot So in the Original
Plan of said city of Evansville, and IS feet
of Lot So, In said Original Plan. adjoining
said Lot So, being Jl0 on Fl ST Street by $50
feet on Locust Street, for the sum of forty
Thousand dollars one half of said purchase
in I'VE equal animal tnstalIments; aud
are to lay out and expend the
further sum of twenty thousand dol
lars in the erection of hotel building on
said premises, the entire cost of which.
when finished and furnished, with the
said purchase money Of said real estate,
shall not be less than the aggregate of the
said sixty Thousand dollars, to be put in as
aforesaid by said j. A. Lemcke IL Co, and
the amounts hereto subscribed: and to
erect said hotel on said premises, in toe
best and most approved manner in which
the same can be done for said money, by
the irst day of November, 1871, or as soon
thereafter as possible. And in consfdera-
names are hereto subscribed, severally
and respectively agree and bind them
selves To pay to the said j. A. Issmcke q
Co, and their assigns, the several sums by
them respectively subscribed. and set on
pOsite their names, as follows, tO-wft: 20
per cent. of the same, Eovem ber 1st. 1870 |:
20 per cent. February LIST, 1871; 20 per
cent. May LIST, 1871; 20 per cent, August
!, 1871, and the remaining % per cent. No
Vem Der ], 1871, for which said several in
on the demand OF the said ]. A Lemcke &
Co otempOraneouSly with said Lemcke
& Co, taking from said Sherwood deed
for the premises aforesaid, execute their
several tnstaliments, payable as aforesaid.
without interest, and thereup0n the said
Lemcke, DusoucheC & Gilbert shall exc
cute to said other parties severally and
respectively, their joint and several notes.
payable ten years after date, without in
terest for five years, az with interest, at
five per cent. Tor the remaining five years,
payable annually. Provided, however,
that this agreement is made dependent
upon the Common Council OF the city of
Evansville, exempting by ordinance the
contem plated Improvement from taxati on
for the term of ten years.