Morning journal and courier., 1890-07-11
OLD HlRAm,s INvEsTm LENT.

It Has Masonic Home of Hts Own
 It's Purchase of the Masonic Temple
 -The COmmgteee,s Report Last Night
 to she Lodge - Much Enthusiasm -
 The Building to be Improved - An
 Elevator to be Put in - The Lodge
 secures a Fine Bargain.
 Old Hiram lodge No. 1, F. & A. M., now owns, through it's members, the fine building corner of Chapel and Union streets. known as the Masonic Temple, in which Hiram has had its lodge home for over twenty years, or since the erection of the building. The com. pany-the Hiram Lodge Joint Stock com pany-which has purchased the building, is composed exclusively of members of Hiram lodge, and they are restricted by the terms of contract, from selling their stock with- out fret giving opportunity to Hiram lodge to buy it. The last of the stock subscription of $25, ,000 was taken last evening. Members eagerly took it. The price paid for the building is $50, ,00O, and the company will pay down $25, 900 and give a mortgage for the balance. The members would have sub- scribed the whole 0,000 at once, last night, or nearly all of it, had it been so desired. The building now pays over six per cent. on $50, 1000, over and above expenses and taxes. The members are much pleased over the purchase. The committee who purchased the building for the lodge made their report to the lodge last night. They are Lawyers H. B. Benton and ". A. Wright and Henry Reynolds, the bolt manu- facturer. The balance of the needed sub scriptions were very promptly forthcoming. The $25, 900 mortgage loan can be effected at from four to four and a half per cent. and the stock will net six per cent. It is pro posed to put the building in fine order, aud an elevator will be put in among other im- provement to be made. The price paid for the building is considered very low. The premises cost, land and all, over inent in building it. The property after ward passed into the hands of the Morgans in New York and has been purchased of the heirs to settle the estate. Townsend & Watrous, the lawyers, have had the renting of the property in charge for some time past. The largest single subscription to the capital stock was by Samuel J. Hoggson, $5 ,OOo; Alderman 1,250, James D. Dewell $250, Elihu Larkins $500. and others of the. sub. scribers are: William A. Beers, Henry o. Seabrook. Hobart L. Hotchkiss, Dr. M F. Linquist, Eben E Hotchkiss, Major T. A Todd, S. H. Kirby, Earle Brown, H. E Benton, W. A. Wright, B. Shoninger s. B. Shoninger and MT. Loper, the con fectioner. The building has a frontage of about 70 feet, and the land is no doubt worth the whole price paid for the property. The late ex-Governor English contemplated shortly before he died purchasing the proper ty at the price which Hiram lodge has paid for it. About twenty feet of land on Chape street on which stapds the vest half of tht building occupied by Monson & Carpenter the dry goods merchants, was sold recently by Gardner Morse to Mrs. O.. F. Winchestel for about $30, ,O00. The parties who sole (the heirs of William H. ElliotD reside out
 west and wanted the money for investment near their home. Ex-Mayor Lewis said las night at the meeting that Hiram lodge had got great bargain and that the property ii to- day worth $10O,000. The build ing was recently examined by Builder George M. Grant and Fire Marshal Kennedy who, after thorough inspection, pronounced it one of the safest and best in the city With the outlay to be put upon the premises the building will be also much improved The purchase by Hiram includes the fue pips organ which is in the building. Old Hiram's membership is now nearly 1000 and over seventy new members have been added this year. The stockholders meet at Fl. E. Ben. toms office Saturday evening at 7:30 to elect directors and complete the organization 'ot the company. Among the most earnest workers for the success of this enterprise might be mentioned Henry Reynolds and ex- Town Agent Todd.