The news & observer. [volume] (Raleigh, N.C.) 1894-current, 1901-02-06
THE CITY TO BUY
AUDITORIUM STOCK
PAY With Proceeds From the
Bond Issue.
70 AMOUNT OF $4,000
Premium on Bond Issue Used For This
Purpose.
The Board Ct Aldermen, the Chamhar Of Com
merce and Merchants Association Have
All Endorsed the Measure and il
Seems 10 Meet With Favor.

The nlan for the city to assist in the
erection of IN auditorium by appropriat-
ing $4,000 of the 100000 bond issue is
rapidly taking shape.
Yesterday there was call meeting of
the Board of Aldermen to take the mat
ter under consideration. The Board pass
ed a resolution endorsing the plan. The
provisions of the resolution are tina: the
Board of Aldermen shall have power TO
appropriate a sum not greater than $4,000
for the building of the auditorium, pro-
yided the citizens of the city provide
like amount; the amount paid by the city
TO come from the premium of the 100000
bond issue. The stock shall be held in
the name Of the mayor and remain in
possession of the treasury of the city.
The Board of Aldermen are to have full
control of the stock; and the city shall
be represented on the Board of Directors
Of the Auditorium Company to the amount
of stock il shall own.
A joint meeting of the Merchants As
ISOLATION and Chamber of Commerce was
Mai. ]. b. Hill, President of the Merchants
Association presided over the meeting,
and Mr. George Allen, Secretary of the
Chamber of Commerce was secretary.
MIR. j. S. Wynne offered the following
resolution:
Resolved, That it is he sense of this
meeting that $4,000 of the proceeds of
the sale of the $1,000 OF bonds proposed
L,y o;f paI1 iab ha
applied to the construction of an audi
forum in Raleigh, n. c.: that the bill
now pending in the Legislature TO author
ize the issue of said bonds be so amended
as 10 authorize such subscription ana that
a committee of three be appointed by the
chairman to accomplish the purposes
above set OUT
Senator Broughton said that he was
afraid that the proposition is not legal
one; and furthermore it would be unwise
TO attach any sides to the bill authoriz-
ing the bond issue that might render it
unpopular. There has been objection to
the location and this question may come
up again.
MIR. Wynne replied that if there ever
was a question that had been fully and
completely ventilated, the matter of a
site for the auditorium was the one. He
said every foot OF ground in the city
available for such a purpose had been
investigated, and that the choice had
been made after open, free and full dis
cussion.
Mr. w. n. Jones said that the diff
Guilty arising in his mind is can city
go into private corporation and use
taxes to promote that corporation.
There is a diversity of opinion on this
point. They have the right with ref
erence to railroads, which are quasi
pbulic corporations. Mr.. Jones said
that he didn't think such a provision
wuold invalidate the act. but that there
was a provision in the city charter
making such action misdemeanOr.
Mr. A. j. Fields: The question is
whether such a provision would defeat
the bond issue or not. We haven't any
time for investigation Of legal ques-
tons. But whether the rider" wauld
make the bond issue unpopular is the
question for us tonight. But if 100000
was needed for street improvement,
then why will $4,000 do now?
Mr. Wynne said that the premium
on the bonds would be $4,000 and the
amount for the auditorium would some
frome that He thought that instead
of defeating the bond issue, it would
render it more popular.
Mr.. Haywood: The matter will be
sifted in the legislative committee, and
if it is illegal we will find it out in time
to remedy it.
Mr.. C. G.. Latta said he thought it
could be left at the discretion of the
aldermen, as to whether they should
make the appropriation or not.
Mr.. Fields stated that he did not
think proposition leaving the matter
in the discretion of the aldermen to be
legal.
Mr.. Josephus Daniels suggested that
the amount be made $4,000 instead of
$4,000.
Mr.. Jones stated that we had better
go slow. and that he felt the board was
taking dangerous step. / am sure
we will hear of this again. There are
always people to bring it up, and we
ought to go into it gingerly.
A vote was taken and the resolution
passed unanimously.
Mr.. Hill appointed the committee
provided for as follows: Messrs Ernest
Haywood, j. l. Johnson and w. n.
Joues.