The Indianapolis journal. [volume] (Indianapolis [Ind.]) 1867-1904, 1903-01-20
COMMITTEES AT WORK
CANVASS FOR COLISEUM FUNDS NOW
IN FULL BLAST.
Meeting This Afternoon-The SUBJ
scriptfon Agreement.

The coliseum canvass has begun. A
hundred men of means know ii, for they
were visited yesterday by the ten commit
tees selected Saturday. The committees
made it known that they were created for
purpose and that there was no evading the
purpose. Inspired by the sentiment, I'VE
must do it, the committees went forth
among the men assigned to them and built
the foundations for the subscriptions that
will come to-day and which will come in
the future.
The committees impressed first on the
men visited their ability to pay the amounts
solicited. These amounts were calculated
on the estimated present worth of the men
and were moderate. Next they were en-
lightened as TO the direct personal or COM
mercial benefit the coliseum will be to them.
The last argument was TO their pride in the
achievements of indianapolis, without
which the city would fail in it's progress
and the indirect benefit of institutions like
the coliseum to the whole community. The
economy of such an institution in the long
run was shown: for in the concentration
of public spirit into gigantic enterprises
there is always a direct and an indirect
pecuniary benefit to all; Indianapolis has
paid, heretofore, a premium to bring TO the
city large national gatherings. One of the
reasons why a premium was paid was be-
cause the city had no adequate place to
hold the largest meetings and other in
ducements were necessary. BY this sys-
tenn hundreds of the middle class organiza-
tons were brought here for their conven-
tons, but the larger ones escaped. With
coliseum of the size proposed there is no
national organization that would not be
provided for with the completest detail.
Hence there would be no obstacle to the
organizations seeking this city as meet
ing place and the money that is spent by
them is an increase of the wealth OF the
community. Great meetings, like those OF
the Presbyterian and Methodist confer
ences, the Y. p. S. c. E., the fraternities.
the Cattle Breeders Association. the ma
tional political conventions all leave their
contribution 10 the general wealth of a
community. Every class has its measure of
benefit and these facts are being impressed
on the men being solicited.
MEMORANDUM OF AGREEMENT.
The committees are taking their sub
scriptions on uniform blanks drawn in the
form of an agreement, which declares:
This memorandum witnesseth, that,
whereas, it is deemed desirable to form
corporation or association to erect and
maintain a suitable building for public
meetings and such like in the city of In
dianapolis. Marion county, State of Indiana,
and to acquire and hold real property to
that end, and 10 give entertainments
therein;
Now therefore, each of us whose name
is hereunto subscribed. hereby promises
and agrees, each with each, and each with
all. to subscribe for the number of shares
set opposite to his name, of the capital
stock of such corporation or association or
company, when the same shall be organ
lied.
And each for himself agrees, as afore-
said, TO pay to said company, corporation
or association, the of 81 for and in
consideration of each of such shares in
said company, corporation or association,
as follows: One-fifth upon call of the
board of directors, trustees or other man.
aging body within ten days after the or
ganiZation of the company, corporation or
association is effected the balance in in
stallments as called for by the board of
directors trustees or other managing body
provided that calls shall not be made re-
quiring payment at less intervals than
sixty days and that no installment shall
be for more than one-fifth of the amount
subscribed; all payments to be without
relief from valuation or apprasement
laws
1t also states that the stockholders shall
have vote for each dollar invested, and
that the majority of all shares voted shall
elect the directors, trustees or managers (;
that the corporation shall have the right
to begin business without waiting for all
the capital stock to be subscribed. There
are other details already we'll known stated
| in the memorandum.
While there was no report of the commit
| tees last night each was we'll satisfied with
| the progress made. Their reports will be
made at the meeting of the executive SUBJ
committee this afternoon at O'Clock.
The office of the committee in the Clay
| pool Hotel will be opened to-day, and the
| committees will make their reports there
| from day to day.