The sun. [volume] (New York [N.Y.]) 1833-1916, 1905-01-22
CRESCENT A. c. FLoURIsHING.
Surplus OF sI08, 3sO.3I Shown in Report
nt Annml Meeting.

Tho members OF tho Crescent Athletic
Club Of Brooklyn gathered In the Clinton
street house last night for the annual meet
ing OF the club. This club il In a lourisAng
condition and has a surplus OF siGG5sO3l.
which s TO be applied to the fund for the
erection ot a new town house TO be built
az once nt cost OF more than 100000.
President Charles NJ. bull IN his annual
statement 10 the members said that on Dec
u there were 100 life members. ~ nom
resident members and Lao resident meu''
bers making q total OF 2.0S7 This shows
a gain Of T. for the year There are scvernl
proposals for membership and 1t IL expected
that by March the limit OF . 900 resident mcm-
hers viii bo reached, In March the initiation
fee is TO be raised from rs to $50. Referring
TO tho financial condition OF the organization,
President Bun said The year Inns been
ono OF continued prosperity for the club. The
total receipts from all sources were $751;
623. 81 and the total expenses were Slis,3A3.?S
leaving balance OF $26.20o.27 There WIS
marked on Tor depreciation SOFT .03 and
carried to the surplus account SI.0l3.2'.
The surplus account is now slGG.asI.jl. Inc
rema inder OF tho purchase money. mort
gaze on our city property, was paid during
the year and We now own tins land free OF
incumbrancc. our funded debt is AS follows
First mortgage Bay hidge. $4,000 second
mortgage, subscriptions paid IN. $4,000
We expended during the year s29.2T7 %
for repairs 90 dock. new crib work and piling.
and for construction of new boat house and
purchase Of bouts and appurtenancea, OF this
amount we carry 1000 as the book value
OF the new structure and its contents The
balance, s12TOj. has been marked on Tor
deprechtiou.
The ori.unnl ten years lease on the present
clubhouse Will expire on May l. and as there
WAS no prospect OF getting into building oil
our own for "a, least year and a half from
that date new lease Tor a further term of
two years was mnde at the same rental
fIuDDsslDlp
on the site for the new city house for short
terms. and not wishing to take chances OF
delaying building operations by time leases,
your governing committee. for these and
other reasons, early in the year instructed
the building committee TO contract for their
removal. which was promptly done.
Approaching the entire change in the gen
eral financial and labor conditions from those
existing a year ago. your governing commit
tee Ht its meeting on Nov. Is instructed the
building COMMITTEES 10 proceed at once with
the erection OF the new city house, The
plans of the house remain practically As
originally laid out. the. changes beng prn-
cipally Of smaller details, made with view
Of insuring prompt serge and eco m 1HG9
ough examination and revision by the build
ing committee of the plans and specifications.
they were placed in the hands oil RESPONSE
bic builders and contractors, ana their bids
are now awaited with interest The adyan-
tages which the new house will ofer can hardly
be appreciated by members without iull
knowledge OF the interior arrangements.
detailed description in this report Is inn
practicable but later II is proposed TO place
the plans before the members in manner
that viii enable them TO lorm a clear con-
ccption Of what Is being provided. IL Is
sufficient az this time to state that your gov
erning committee from the start has had one
end in view, 1. g. to secure Tor the club and
for the borough of Brooklyn modern club
house OF unsurpassed conven!ence and at
traction, structure that viii be dignited
in its exterior appearance and complete in
It's Interior arrangement and equipment
and one that Will be an ornament TO our city
"a
President Bull then briefly told what had
been done in the different departments OF
sport. Referring to rowing he said that
in spite of the drawback resulting rom the
destruction OF the boat house and all its
contents. the club now owned what is con
sdered the largest and finest and best
boat house IN the country. The
new navy consists OF two eight Dared barges
one SIX Dared barge three four Dared gigs.
two double gigs. six single gigs and two
working boats.
Treasurer H. l.. Ganghaar in his report
Bay Ridge property, 20i city lots: buildings
&c. 100000 boat house and boats.
$4,000 Pierrepont street property. three
'ity lots. si05.0oO building account, pay
nents on account Of new building $685.
furniture and fixtures Clinton street house
10000 stock on hand, Ss.42o.47 members
total si0ialo.O5. Liabilities Funded debt
first mortgage Bay Rds", si5opoo scrond
mortgage bond subscriptions. S4gOc0 old
second morteage bonds. called Tor payneni
81 300. UNPAID bills. si4als74: Christmas
fund 1915; surplus finG, sl6e.3s0.M total
sIO1 .Di0 0i,
The expenses FOR athletics were: Basa-
ball. 81, 100 20. golf, 5i.d1 %; hockey. st5llj
lacrosse. s2.240St tennis. 81 3G5s shoot
ng Melted n credit balance OF SI7s1o, maxi
ing the total cost Of athletics. S6.6il.o2
The annual election OF governors resulted
as follows
Class Of 1905. Frank l.. Snircn. Frank .. Ared I
IT.. Lewis j. Doyle. Cornelius Van Brlnt. William
{, Rcdncd BENJAMIN 4 Kelley.
Glass Of 1900 George r. Stebbins. James T
CONWAY. Samuel X ProhAsco-
Nominating Committee for ii05--A Wallace
Higgins. William +. Powers. William ". share,
ifred 4. Adams. George Coon.
Tho new clubhouse which is to he erected I
viii occupy three lots at the corner of Clinton 1
md PierrepOnt streets.