The Topeka state journal. [volume] (Topeka, Kansas) 1892-1980, 1898-12-21

MISS OOWs CuSLOQlaDp NdppEO4b-
mate) 'sa'..-.s ....ss'''.'s"s'''' zz,OOO
Total ................ ..... s178, 500
1t will be noted that the sum total
actually invested in the Temple, after
eleven years of effort, is $27, 800, by bonds
released, and $500 stock mentioned
elsewhere In the report, making a total
The 1000 cash An the hands of the
Temple trustees, with the stock named,
and the bonds released, make the actual
assets Of the Temple trustees to be $49,-
400.
OF the other amounts named Gn the
report the following may be said: The
holders of the $500, 1000 Temple trust
bonds were notified by the Temple trus-
tees that they can be paid only 20 cents
on the dollar, and the discount Is enter
ed as subscribed by bOndholders, $751;
0o0- They have received no interest
for two years.
The $50, 700, which is set down as
other cash subscriptions" is counted
the same as cash in hand, but 1t is prob
able that 10 per cent is all that can rea-
sonably be expected to be realized upon
such subscriptions.
The sum of s22. 600 in the hands of
Miss Dow was given upon conditions
which have not been, met. and the
money is now subject to the order OF the
donors.
The new offer Of Mr.. Field of $50, 900
in cash and $4,000 in stock is not as
good as his first offer, as the cash is to
so toward cancelling interest on the
building bonds and a floating debt; and
as coupled with his offer is the cOndi-
ton that no part Of the house or stock
can be controlled by the Temple trus-
tees until the entire cost price is paid,
including the 100000 building bonds, AS
the interest on these bonds has also
been defaulted Gas well as on the Tenn
pie trust bOndS), Mr.. Field can fOreclose
upon the Temple at any time, even
though the entire amount of 100000 of
stock was already bought up by the
Temple trustees.
The statement that were the $500, 900
Temple trust bonds purchased, $50, 900
more would, with pledges in hand, buy
up the entire $6OOO Of stock, is not
reasonable, as there is a contract with
Mr.. Field to buy up his stock of Sis, 400
at par, and after that there would still
remain nearly 100000 OF stock to be
purchased.
As to the 100000 building bonds, the
owner will not sell them for less than
par, as the mortgage can take the build
ing at any time. The fact remains that
since the sum of only $49, 4U0 is avail
able for the Temple Gall other sums
named at any time being prospective or
speculRtive), 1t would. at this writing,
still require 81, 215,6o0 to pay In full for
the Temple.
These, and many other considerations,
including the fact that up to the last
wear only 715 per cent of the money
given to buy the Temple had gone for
that purpose, while 9215 had been eaten
up by the expenses, made it plain to all
who investigated, that the National
w. Q. T. U. must free itself from the
responsibility Of encouraging the enter
prise, and that there was nothing left
but to discontinue the Temple as an
affiliated interest of the National W. G.
T. u.
We write this in spirit Of fairness
to all concerned and with deep regret
for the conditions which call for this
statement. rae
LILLIAN NJ. N. STEVENS.
ft President.