The morning call., 1893-03-11
NEW YoUNG MEN,s oHR1srIAN AssooIarIoN nuI1D1Ne

by George w. Gibbs, Messrs. Balfour
Guthrie q Co. and Captain Charles Goodall
for Sl45,000, there being a mortgage on it
Of S51, 600.
The purchasers advanced the difference,
the purchase price and the mortgage for
the association without interest The in
terest on the mortgage the association has
had to carry.
The entire lot being larger than the asso-
citation needs for its purposes so feet on
Ellis street. with depth of 1877 IS feet, has
been sold fer $4,000, so that the new build
Ing will cover 81: feet on Ellis street by
1877 ;6 feet on Mason street. The gymnasium
Will be nm annex to the main structure, run
ming back 1877 g feet from Mason street and
covering 80 feet front.
The lot has greatly Increased in value
since the purchase and is considered one of
the finest sites for the new building that
could have been selected. The location and
eligibility In all respects are unsurpassed.
When the building is completed, including
the furnishing and increased value of the
lot. 1t is estimated that the association will
have property worth nearly, il not quite,
half a million dollars.
The Impression has been promulgated
that the association has all the money that
1t requires to complete the new building,
but. as matter OF fact, it has not quite the
required amount in sight.
1t is IN arrears on the interest on the lot
mortgage aud taxes about $4,000. It has
$40, OOO subscribed TO the new building fund
ana values tile property 1t now occupies at
Sl5O,COO. There Is every possibility of real
izlng handsome sum from the sale
| OF The old building, which now will be
put on the market, but even then about
$4,000 additional will be required TO COM
pIete the new building free OF debt.
Inc conditions are such that they can
build now about $4,000 cheaper than they
could one year ago. The old building would
bring 10 $4,000 year rent at all events.
Advantageous contracts for the new edi fee
| have been made with Mahoney Bros,
wherein convenient payments are stipu-
| lated. and the association will not be obliged
TO pay 100000 until very near the date when
| the new edifce is complete
The association thus feels justified in
going ahead without further DELAY, conf
| dent that the friends Of The institution and
| those directly Interested will make up the
| remaining $4,000 that is now lacking long
before 1t Will be actually wanted for use.
The committee on new building, on VIII ose
| shoulders rest the especial possibilities
| OF carrying through this big undertaking, is
| composed Of:
r bert Balfour. chairman; W. H
| Grocker. treasurer; George w. Gibbs, A.
| y. Forbes, Monroe Greenwood, Charles
Goodall and John F. Merrill.
| ne lnspirltlng subscription list was
| headed by George w. Gibbs who gave
| s4oUoO Tor the new building, and other
large contributors lell into line as follows:
Baliour, Guthrie 81 Co., the late Moses
Hopkins, w. ii. Croeker and Mrs. c. b.
Alexander, each $1,000; c. P. Huntington,
Alexander Montgomery. Charles Go0dall
John +. Merrill and w. +. Whittier, each
$1,000; Charles Holbrook. $4,000, and James
G. Fair $1,000 Several gave $1,000 each and
the balance was :made up OF subscriptions
ranging in amount from S. TO S1000-s120, 600
In all.
The contractors have agreed to have the
building finished in every detail within