Yorkville enquirer. [volume] (Yorkville, S.C.) 1855-2006, 1904-04-08
THE COMMERCIAL CLUB.


cial club In the parlors Of that organ
ization last Wednesday night for the
purpose Of hearing reports of commit
tees appointed at previous meeting
to confer with the county board of
commissioners with reference to site
in the court house yard for the pro-
posed Confederate monument, and to
consider ways and means for the erec-
ton of a creditable hotel building in
Yorkville.
The committee appointed to attend
to the matter of a site for the monu-
ment reported through Mr.. ]. w. Sni-
der, its chairman, by submitting the
official action of the board, as outlined
in the report Of the boards proceedings
published elsewhere in this issue Of
THE ENQUIRER. On motion the re-
port was accepted as Information, WI
instructions that the action Of the
board Of commissioners be communi-
Gated to the Winnie Davis Chapter U.
D. c., for such further action as that
organization may deem proper.
The committee on ways and means
for securing the erection Of a modern
hotel reported through its chairman,
Mr.. w. R. Carroll. His report, which
was verbal, will be fully comprehended
in the following:
After giving the situation a good
deal Of earnest thought, your commit
tee has decided that the most practical
plan to be suggested, and one which
seems to us to be entirely satisfactory
Is that which has developed as the re-
suit of a conference with Mrs. Parish.
Mrs. Parish, as you are aware, Is the
owner Of the lot occupied by the old
hotel, and that lot with what is on 1t.
Is easily worth s3.500. I will give that
much for it, and there are others who
would be glad to take it at that price.
The lot cannot be bought for $4,000.
A suitable and desirable hotel building
will cost from $4,000 to $15,0OO-just
how much we cannot saw certainly.
Mrs. Parish proposes that If we will
organize a syndicate to raise the nee
essary money and lend 1t to her at s
per cent, she will agree to allow
committee Of this syndicate to make
contracts and superintend construction,
and will secure the loan by conveying
the entire property including $4,000
worth Of furniture to a trustee. and
executing a mortgage on the whole.
It will be stipulated that the interest
will be payable annually and at least
$500 Of the principal will be paid each
year."
Mr.. Carroll went on to say that he
thought this proposition a very attrac-
tive one. The bondholders would be
running no risk whatever. The only
possible objection was the low rate Of
interest and that was more apparent
than real. He felt satisfied that so soon
as the proposed improvement is COM
pleted, all the bonds can easily be sold
at par; il not in Yorkville, then to
parties elsewhere. AS a matter Of fact
the thing can be so arranged that In so
far as the subscribers are concerned,
they will only be required to lend their
credit for the amounts subscribed for
a year or such a matter. If we show
our confidence in the enterprise to this
extent there will certainly be no trou-
BILE about enlisting the confidence of
others.
There was a pretty general discus
sion, but it developed no objection to
the plan. Everybody present seemed
to concede its entire practicability, and
on motion it was decided to draw up a
subscription paper embodying the re-
port Of the committee in the form Of
a contract and circulate 1t for sigma
lures.
The paper was duly drawn, and men,
bers Of the committee pledged them
selves to subscribe s4,OO0-three put
ting down $1,000 each and two others
$500 each.
The committee Is now presenting the
proposition to the business people of
the community, with strong hope of
being able to raise the sum desired.