The Indianapolis journal. [volume] (Indianapolis [Ind.]) 1867-1904, 1897-11-28
COLUMBIA CLUBHOUSE
PLANS COMPLETED AT BIG MEET
ING LAST NIGHT.
Constitution Changed to Permit In
BOnds-COmmittee's Final Report.

the largest and most enthusiastic meeting
in the history of the club. OF the four hun
dIed members 1856 were present and voted.
The committees report, recommending an
amendment to the constitution increasing
the membership limit from 400 to $50 and
increasing the annual dues from $40 to $50,
was unanimously adopted. There were but
two dissenting votes on the proposition to
build new clubhouse at a cost OF $4,000,
exclusive of furnishings, which are to cost
$4,000 additional.
Under the new conditions Republicans
who are nonresidents Of Indianapolis may
become contributing members There is no
limit to membership of contributing mem
beers, but the conditions for admission are,
if any thing, more stringent than hereto
fore and representative Republicans of
other cities can only become members upon
invitation. The membership committee will
exercise care to recommend for admission
only representative business men and pro-
fessonal men of unquestioned Republican
ism. In a word it is the ambition of the
club to become a powerful political and So
cial factor in the State. Already Ill new
members have been admitted to member.
ship, and the indications are that the $50
additional memberships will be soon taken.
The reading of the report of the commit
tee last night was received with much in
terest, as it gave the result of nearly nine
months arduous labor and investigation of
the propositions of so much Importance to
the future of the club. Figures In detail
were given showing the feasibility Of the
plan and that, with the stock taken, the
club will be on a sound financial basis and
entirely self-supporting.
The committee reported as follows:
'First-In place of the sixty-five new
ockholding-due-paying memberS-fhought
necessary to the success of the enterprise,
there have already been secured over one
hundred, amounting to $l2,5OO.
'Second-That in place of the then
thought necessary second mortgage of $lS,-
500, which is now obviated, we already have
to offer a guaranteed stock purchase (by
our own members) of 40 shares, equaling
SIT, 000 making resources in actual sight Tin
lieu of these two items of previous esti-
mate), amounting to $29 500.
THUS, as the sixty-five new members lin
the original estimate representing $50,
and the second mortgage, representing $lS,-
500, amounted to only $26,625. This, our new
and obViating the $1S,5O0 proposed second
mortgage) by $3.50. Or a total bettefment
of $21,375. Therefore, our tabulated showing
Necessary Costs-(Same as previous re-
porD: New building, $4,000; new furnish
ings, $4,000; satisfaction of mortgage now
x,
of resigned stock, 81 500; total $l09,50O
Resources to cover necessary costs: First
mortgage loan, at per cent, $SO,OOO; lf0
shares of stock, now subscribed for by pres
ent members SIT 600; 100 new members al
ready elected or posted, $4,000; initiation
fees from same Q00 members), $2,5OO; sal
wage on present building (same as previous
estimated $1,000 value Of present furnish
ings of clubhouse Same as previous esti-
mate, So, 900; total, S113500.
Leaving a surplus balance of 1000
there alreadX been
accomplished more than your committee es-
timated as necessary to be accomplished IN
house of the estimated cost of $4,000, end
therefore, these estimates having Deen Iul-
filed, your committee submits this It's
final report, and now recommends that me
building of new clubhouse be proceeded
with with as little delay as possible; and
asks that this report be concurred in ana
that building committee or nve members
of the club be appointed by the president
which said committee shall have full au-
thority to advestise for and secure and
adopt plans for the building OF SUITABLE
clubhouse, and proceed with the erection
of the same, doing all things such as en-
ploying architects and making anu entering
into contracts requisite ana s necessary
thereto, the cost not to exceed $SO'Oc, ana
that they be empowered to negotiate long
time loan mot to exceed $SO,OOO) at an inter-
est rate not to exceed per cent.
Your committee re-announceS, ana now
confirms, it's original estimate OF annual
expenses for operating with the elimination
OF the item of interest on SecOnu-4hoLlsdSe
bonds, amounting to $l.llO, thus reuicihs
annual expenses to $26 900, as against pre-
vious figures of $27,llO, and increasing a asS
previous estimate of annual income Dy SoO
each on thirty-five members noW actualiy
acquired over and above the 4l5 previously
estimated on); or, $1,000, thus increasing
annual income to $4,000, which makes an
actual accomplished betterment or relallVe
annual income and expenses, amounting W
81 800 OF this betterment, your committee
further recommends that $SVo0, ana as
nc
practicable annually be used as SINKING
fund looking to the eventual reductlon u
the $4,000 bonded debt by ths payt liz
of not less than $4,000 every nVe years
Your committee further calls your atten.ioH
to the fact that no account has been taken
of the increased income from dues, Whlcn
shall result from the sale by members u
the ITO actually subscribed-for SHARES 10
new members, which Will amount. 70 an a ue
ditional income mot ABOVE coiisiueIcu ~
81 1Of: and does not take into coLsluetd.loi,
receipts from large number or promlseo
contributing nonresident members.
The committee making TINS report con nT
sisted of r. S. Hacker, president; Allen M
Watcher Daniel NJ. Ransdell, ]. >. GORDON,
DR. Franklin w. Hays.
RONDS FOR THE BUILDING.
The committee offered resolutions pro-
viding for the appointment of a committee
of nine to secure plans for the new puilu-
ing to be erected at a cost of not more
than $4,000 and authorizing the issuance
of bonds for lifting the present mortgage
indebtedness and erecting the building. Inc
resolution was as follows:
"Resolved, That the president of the Co
lurhia Club be- and he is, hereby author
lied and directed to appoint commltlee
consisting of nine stockholders, when COM
,nittee is hereby authorized and empowered
tn enter into any and all plans for the con-
s+ruction of a new clubhouse; and to enter
into any and all contracts necessary COM
nletely to construct and equip such new
clubhouse. man,
"Proyided. That such new club building
shall not cost, when entirely ana completely
ready for occupancy, to exceed the sum or
eighty thousand dollars ($S0.000), including
plans and architects fees and cost or super
intendents and exclusive of furnishing. The
said committee is hereby authorized 10 con-
tract for the furnishing of such new mousse
AT q cost not to exceed fifteen thousand dol
lars ($15.CO0.)
s.Resolved also, That all contracts made
nv said committee shall first be adopted by
a resolution of said committee, which snail
be spread upon the minutes of said COM
ton shall be signed by the chairman thereof
and attested by the secretary thereof and
approved by the board of directors OF said
club.
Resolved also, That said committee shall
give the members of the club the privilege
OF offering suggestions relative TO plans for
such proposed club building. Such sugges-
tons must be submitted in writing and left
at the office of said club. and said commit
tee is directed 70 read and carefully con-
slider such suggestions
Resolved also, That for the purpose of
securing the necessary funds for construct
iYe nd furnishing id Clllh hllllinR