The news & observer. [volume] (Raleigh, N.C.) 1894-current, 1902-04-01
Circular From the Masonic Temple
Committee.

The committee appointed by the Cham
Der of Commerce to. solicit subscriptions
for the Masonic Temple has distributed
the following explanatory circular to the
business men of the city:
''The Grand Lodge of North Carolina,
A. F. and A. NJ, has determined to build
a Masonic Temple somewhere, upon
plan somewhat as follows: The title to
the property will be in the Grand Lodge,
or in construction company OF which
it will be the owner of the stock. 1t ex-
poets to raise the necessary funds for
its erection by the issue and sale of
two classes of bonds, of $4,000 each, and
each secured by mortgage on the Temple.
ut is known that if the second mort
gage bonds are all sold and the proceeds
invested in the property there will be no
difficulty in floating the first mortgage
bonds. The Grand Lodge, the subordi-
nate lodges throughout the State and
number of individual Masons will sub
scribe for the larger portion of the sec
ond mortgage bonds which will bear four
per cent interest. The remainder OF
these bonds must be taken by the resi-
dents of the city of Raleigh, which is es-
timated to be at least $4,000, if we de-
sire to secure the location of the Temple
here.
cit is expected that the entire cost
of the building and site will be $780, 900.
The ground floor will be used for bust
ness houses, the next two floors for offices
and the like, the fourth floor for the use
of the local Masonic organizations, while
on the fifth floor will be a large hall in
tended for the accommodation of the
I foI1 he for
numerous other purposes. OF course COM
modious elevators will be provided. 1t is
the intention to make it a handsome
structure that would be the pride of any
city, and IL located on an eligible site on
Fayetteville street it will be one of the
most conspicuous buildings in the city.
"Those who subscribe to the second
mortgage bonds will not be making do
nation to the Temple but will simply be
loaning their money to the Masons at
four per cent, with good security. The
Grand Lodge will be obliged to take care
of he interest, and the bonds at their
maturity, even if the rent rolls from the
property should be insufficient. That
they will be sufficient we may reasonably
expect.
1.-The Masons of the city of Wilmington
easily erected a most magnificent Temple,
on somewhat similar plan, and it has
been paying investment to both the
Masons and to the city. Theirs was an
entirely local enterprise, while this has
behind it the official organization as we'll
as more than 10000 Masons. There should
not be the slightest difficulty in raising
a sufficient sum to accomplish this pur-
pose if the business men of the city, who
have the future of the city at heart will
each do a little. If this is done it will
not be necessary for any one to assume a
large burden.
Enclosed you will find blank subscrip-
tion for these bonds which you will please
fill in with as large a sum as you think
you can possibly afford, sign and return
to the undersigned at once, for we must
know by Tuesday next, when the commit
tee of the Grand Lodge meets, whether or
not the business men of the city of Raj
eigh will buy sufficient number of these
bonds to insure the building of the Ma
sonic Temple here.
''F. H. BUSBEE,
IN. B. BROUGHTON,
"W E. FAIS0N,
sc. l.. HARRIS,
"T. B. WOMACK,
Committee"