The news & observer. [volume] (Raleigh, N.C.) 1894-current, 1900-09-11
FINAL ACTION
WILL Be TAKEN
ri
In Auditorium Committee on
October q.
NOTHING DONELASTNIGHT
Mr.. c. NJ. Busbee Makes Report For
Committee.
NOTHING DONELASTNIGHT
THE TRADE BUILDING LOT, THE SITE
Mr.. Ed. c. Smith Opposed the Motion to Adopt
He Thinks We Ought to Place It on
Moore Square.


Moore Square.
The stockholders didn't decide last
night what to do with the proposition
submitted by the committee There
was only small per cent of the
stock represented personally, though
there was large amount represented
by proxy.
1t seemed a hard nut to crack and
so they postponed the matter until
Friday night, September 21st, at which
final action will be taken in the mat
ter.
Last night at o'clock, an adjourn
ed meeting of the stockholders of the
Auditorium was held. In the alb
sence of Mr.. w. n. Jones, who presid-
ed at the former meeting, Mr.. c. NJ.
Busbee called the meeting to order,
and moved that Mr.. II. ii. Battle take
the chair. The motion carried, and
Mr.. Allen was made secretary.
Mr.. Busbee then explained what
action had been taken BY the COM
mittee appointed to select a site and
also the action of the board of direc-
tors. He stated that the site selected
as most eligible by the committee,
whose action was endorsed by the di-
rectors, was the lot on which is sit
uated the Trade building, on Whining
ton street. The lot, he said, has a
front of 81 feet on Wilmington street,
and included on the South a 10 foot
space belonging to the Tucker prop
erty. The lot runs back 210 feet, and
and included ON the South q 10 foot
street to within 80 feet of the south
east corner of the lot, where it widens
into 33 feet for distance of 30 feet.
The price to be paid is $4,000. The
purchase price is to be paid in 6 per
cent mortgage bonds in ten years.
The purpose of the committee is to
build an auditorium in the rear of the
lot The building already built has a
depth of 60 feet, thus having a space
91X150 for the auditorium itself. The
entrance will be made on Wilmington
street and for this purpose one of the
stores in the building already up will
be used This will give ample space
for a lobby 16x1S feet.
The purpose is also to use the mon
ey already subscribed in the construc-
ton of the building. 1t is to be in the
rear of the Trade building. This will
save the expense of a costly front. 1t
is calculated that building suitable
for the purpose desired and commo-
dious enough for the State conven-
tions and any large gatherings-chry-
santhemum shows, balls, and things
of similar nature can be
erected for less than the Sill
900 subscribed. All the money
raised, however, is to be put into the
auditorium.
The committee considered it imprac-
ticable to combine a building that
could be used for an auditorium and
theatre combined, consequently, they
advised that the building be erected
solely with view to its purposes as
an auditorium On this space 150X91,
there can be put up building that
will seat from $500 to 1000 people.
The purpose is to erect a building
that is best suited to the purpose.
The interest on the mortgage
amounts to $3.50, while the building
now rents for $1,000, though there are
several vacant rooms. A store ON the
first floor will have to be used as an
entrance, but the additianal rent Sc
cured will more than compensate.
This is the only site offered the
committees that could be paid for
without cash. The bonds of the audi
toriums company are not negotiable a
par, but the company from whom the
purchase is to be made will accept
$12,500 in bonds.
The property originally cost only
about $4,000, but in the opinion of the
committee, is worth the full amount
asked. The committe think it will
bring in $50 per month from conven-
tons, shows, balls, etc.
Mr. Alex j. Field moved that the re-
port be accepted.
Mr. Ell. c. Smith opposed the mo-
ton, said he:
Nobody hates to take issue with
the gentlemen who compose the COM
mittee more than / do, but | cannot
see the matter in the light they pre-
sentsit. My idea is, that to associate
the auditorium with a proposition OF
pay, is a mistake" He favored get
ting permission from the Legislature
to erect a BUILDING on Moore square.
Judge T. B. Nomack, the attorney
for the real estate company, took the
floor and explained the proposition
made by the company. lie spoke at
some length and his talk seemed to
impress every one with the desirable
ity of the lot.
The discussion then became general.