The New York herald., 1877-02-03
THE UNION LEAGUE CLUB.

PREPARING FOR NEW HoME--A SCHEME
THAT MAY AWAKEN OPPOSITION.
On MAY !, 1878, tho lease Of the house which the
Union League Club now occupies will expire, and II
will become necessary to hnd new quarters In an
;cipaton OF this emergency, there has been steadily
accommodating fund IN tho charge of the Building
Committee which now amounts 10 over $500, 900.
This however Will not be sufficient. as the ideas OF
tho club regard their future homo are very large,
aud nothing but the best location ana finest building
will suit tho wishes OF tho members of this
wealthy organization. II might 10 possible to
retain possession of tho present club house, as
Mr. Jerome, th, owner OF the building, would
probably have no objection to releasing it to the
club upon as favorable terms as are now enjoyed,
but the location deemed Objectionable, and 1t seems
to bo the general OF the club members not to
remain there after tho expiration OF the lease Alter
the fire the club house last year proposition was
made that the clue $50. 900 $40, 900
pa,is aud TO make desirable alterations ,he amount to
be attcrward deducted IRON the rent, but IVr some
reason the idea not pushed TO realization.
The committee winch was appointed somc time ago
to - &c or the cub house have reported
In avor location in Fifth avenue, which could DO
bought 500 UO0 and to erect thereon club house,
with theatre attached, which should cost $500. 900
more The site proposed appeared to ncceptabc and
plans the house. ana he ncxt question was TO
onnd 10 be an easy tasr Ii was not desired to raise
the money by mortgage on the new properly, even
II such mortgage could have been obtained, whcn
was very doubtful, as tue club house contemplated 10
be erected woud be entirely valuccss for any other
purpose club house. A committee was there
lore appointed 10 agree upon and report feasible
plau OF raising amount OF money. This committee
consisted OF Mcssrs jackson s. Schultz, lie Grand B.
Cannon, Jonn A. Weeks, Richard Butler and John H..
Hall.
report agreed upon and presented to tho club
at It's meeting, Thursday, January T. which, after
stating difficulties IN the way of raising money out
side recommended the following pian:-Thut the hc-
ccssary amount (f400 V00 be raised BY issuing 200
reg tered bonds s40v each that these bonds be
sold only at par rcsident nembers, with the pro-
VISION that only such bondholdcs shall have the PRIV
ilcge OF holding ohicc voting Tor officers or commit
tees. each DondhOlder beng cutted TO ono vote iOr
each bond registered IN his name rs tho club
possesses about |, 600 resident members, chance
would be gwen each one purcnasc one OF these
! more Than one bond unless there were some renun-
| ing after all had purchased who desired to DO So
This plan will be acted upon by the cuD NJ lis next
reg uar meeting, Thursday evening next, February
There are a number Of objections 10 II; some mem.
! bers of the club are opposed 10 II and II is
possible that may not be accepted, but II was the
only feasible which presented iisci to tue commit
tee who fully aware OF the objections to It as
| any OF tho members Its advantages are that no In
debtcdness Is incurred outside OF the club IL aHords
an easy way the money, as thcrc is probably
no member of the club who would not DO wiling and
ablc 10 subscribe at least OF these bonds and
tho opportuny for subscribing Is open 10 all OF the
MEMBERS that no one need be deprived Q! MS vote
tho bonds bearing per cent interest," aHoru saIt
and pleasant income Tor the subecrDcrs, and
thereby becomes douby Interested "
the prosperity and welfare OF the club whether how
enough OF the members TO cause the adoption Of th'
| hem remains be sccn