The record-union., 1899-04-21

possession of the Terminal City Wheel
men the donors, Weinstock, Lubin a.
Co., have generously offered to restore
the trophy. 1t will, however, hardly
be completed before the race is pulled
off.
The proposition before the Capital
City Wheelmen to purchase property
and fit up a clubhouse on the Install
ment plan is, say it's many friends, SO
good a one that it would seem to be
shortsighted not to avail of it. Certain
property on K street, says the Board
of Trustees, is so situated as to be un-
available for residence purposes. 1t is
assessed at $4,000, improvements at
81 800 The house, an old but sound one,
| is insured at 81, 500. 1t is proposed to
| sell this property to the club, NxlO0
feet for the assessed value, by Eay-
ment down of $3.50, and thereafter at
| least $50 a month This includes rhe
| interest at per cent, and at the start
leaves some SIS over to apply to the
Iprincipal. Taxes and insurance will be
$40 a month, making in all $40
month payments The club now pays
F.. S25 rental and some insurance. Hence.
the advance over the present cost will
be less than $40 a month. But as each
month the payment made is deducted,
and the interest recast to the lessened
amount this excess will steadily de-
crease. 1t is agreed that for so much
as the club pays ON the property it is
to have title accordingly. That is to
say it can sell out it's interest at any
| time, provided the present owner has
the right to except to any purchaser
whose use of the property will not de-
preciate it's value or impair the secur-
ity. But if the club sells in full and
pays up the whole $3.50, then the
present owners care not to whom it is
sold or what for. Thus the club will
be constantly acquiring property while
paying rent to itself. 1t can take the
whole time, or it can pay off as fast as
it pleases. In the short period Of It's
existence the club has paid for rent full
81. 600 and insurance, and it has moth
ing to show for it to-day but its furni-
ture. To fit up the new place decently
for uses ample for several years will
take $500, and close estimates have
been made by skilled men to that fig
ure. The club therefore, by this ad-
vance Of $3.50 will secure a central
property, very desirable property for
clubhouse, with a large assembly room,
three single rooms for committees and
social purposes and below wheel room,
training and bath quarters, gymnasium,
etc, 26x40 feet. This latter space be-
ing in fair condition needs little
treatment for a couple of years. But
the other rooms and the lower room in
part and the lot and out works will for
the $500 be put in good order, the upper
floor be repartitioned painted, papered
and the front of the house neatly finish
ed up in an attractive, though not or
nate style. There will be 40x12O feet
of yard room beyond the house. two
large porches md ten fine shade trees.
The proposition is that the club shall
either pay out cf its treasury the $500
and raise the $3.50 advance, by So notes
sold to be taken up monthly by lot
taken by members and friends or ad-
vance the. $3.50 from its treasury and
sell 100 So notes to be taken up one or
more monthly, as it wishes and
by lot All of these So advances
were n'ade the other day by
responsible men in two hours time.
The scheme, says its many advocates,
puts no personal liability upon any
member; the property, easily worth