Richmond daily palladium. [volume] (Richmond, Ind.) 1876-1904, 1898-10-07
new OPERA HOUSE
PRACTICALLY ASSURED IF
PEOPLE WANT 1T.

The Movement Just b gun, Blu
One-Third of the Capital Stool
Is Already Subscribed. and There
is Every Prospect That the Res
Will Be Forthcoming-A Time
Limit On the Proposition.
There is now prospect that Rich
mond is to have new opera house
The house proposed is to be built or
the site of the present remains of the
old Bradley opera house. Tue plan
is interesting and well gotten up, and
is as follows:
For some time j. +. Reeves has
been giving his attention to the qaes-
ton of rebuilding the Bradley opera
house. taking = patriotic interest in
the welfare OF the city and wanting to
see the one substantial and attractive
place of amusement built up once more
instead # being permitted to crumble
into ruins and give out the impressi, n
that there is lack of local enterprise
and pride.
After working some tiue on the SUBJ
iect, Mr.. Reeves secured from Mr..
Bradley the present holder of the title,
an agreement as follows:
He will take $40, 900 in cash for the
property as it now stands. This is
his first proposition. Or, in lieu of
that, on the condition that joint
stock company with $50, 900 capital
stock be raised (said stock be paid up
stock) he will take 81 900 of such paid
up stock, IN lien or cash. and Sc 900
in cash That is, if $40, 900 capital
stock should be subscribed, he would
make it $40 900 and take So 900 in
cash.
Mr.. Reeves was wishing some such
proposition as this, and believit it to
be fair he accepted it in person and
started out to get up the company.
This was but day or so ago. The
first man he ta ked to on the subject
gave him 81 900 in a subscription.
Others have subscribed In smaller
amounts. Already but about S13, 900
remains to be raised of the proposed
$40 900 capital stock, and the plan is
but in its infancy. Mr.. Reeves firmly
believes that he will be able
to raise tne necessary $40, 900
without great difficulty, and would be
& ad for all who have any interest in
the city's welfare and have some
money to invest, to come to him or
otherwise arrange for conference
with him. in regard to the matter.
The subscription paper is now to be
seen by anyone Interested In the plan
and wishing to subscribe.
The present situation demands that
action be taken promptly, for many
reasons. The walls of the present
structure on the grounds are sound as
a dollar, but cannot long remain so
under the rains and winds, but will
begin to crumble at the tops. There
should be q roof over TIE build
ing and windows put In 1t be
fore the falling of snow or
the beginning of bad weather. An
other reason for prompt action is that
there is a mortgage on the property,
and that mortgage will be foreeloseo
in time If some action is not taken to-
ward making the property more valua-
BILE 1t is believed by those competent
to Judge, that the house can be com
fortably and handsomely replaced for
the money designated. The holder of
the mortgage is patiently awaiting ac-
ton and will not foreclose if there Is
an immediate prospect OF the rebuild
ing of the house. Should the sub
scriptions be filed before any serl-
Gus damage has been done
the walls and before repairs
are necessary, money could be saved,
aud there would be good paying in
vestment for men of means. The
management is to be selected by the
stockholders in the company, and Mr..
Bradley will have nothing to do with
the management, except as his stock
permits him TO have a voice IN the
selection of a manager or managers
competent to make the most out of the
house.
The plan is believed to be good
one, and it should, and it appears will
succeed.