The Cairo bulletin. (Cairo, Ill.) 1???-1928, 1905-12-20
ALEXANDER CLUB
HOLD A MEETING
Concluded From First Page.)

DaseDall court ana the attention o
members Is called 10 the fact that tn,
gymnasium at the present club house
Even deducting the space used for III,
swimming pool ample room is proyid
ed for chest weights, striking bags
dumb bell and Indian club exercis,
and, 10 an extent, boxing and wrest
ling Every facility may be and doubt
less will be offered to members de
string to exercise as a matter of bene
fit for which there is ample room a,
the plan shows.
Finance.
To provide the necessary funds fol
erecting, equipping and furnishing tn,
new club house your committee recon
mends, first, that the governing boart
be directed ana authorized TO CONVEX
into cash the building and loan asso
citation stock now held by the club
by surrender, sale or such other meth
cd TO be determined by said board a.
my realize the greatest amount or
said stock, provided only that sum
sufficient to cover the purchase OF the
site selected for the club house and
other preliminary expenses. or approx
imately $4,000, be placed in the club
/ treasury for the purposes mentioned
not later than the 2Sth inst.
II Is estimated that the amount de.
rived from, the 1870 shares of building
and loan stock which it Is proposed
l
| TO convert into cash as above sug.
| gested and which win place In the
club treasury somewhat In excess of
$1,000 will purchase the site and
with the furniture and equipment of
the clubs present home, furnish the
new club house complete, leaving only
the cost OF the new building to be pro.
vided. As voted by the club an amount
net TO exceed $4,000 may be expend
ed for the erection of the new building
ana TO provide this amount your com
mlttee, after much serious consider
alton, recommends that the proper of
ficers be authorized and instructed to
prepare and place bond issue of 500.
900 in installment bonds, drawing g
per cent interest and dated July
1906 such date selected as NAV
best serve the PLAN. with a maximum
period OF twenty years and secured by
trust deed on the real estate at that
time possessed by the club or in such
other manner as may be determined,
That the denomination of the bonds |
10 be issued consist of $500 and 500 |
Si5,0p0 IN amount or thirty bonds Of |
S5oU each and $4,000 in amount or |
nifty bonds of 800 each. Each bond
to reduce its principal every six
months, the installment of pr,ncinal |
so paid to be made part OF the con.
pom OF a $500 bond will pay $t25o on
account Of the principal to which will
be added the interest for the tern,
covered by the coupon. The first cou
pom, for instance, will be $25 s1250
for account of reduction of principal
and $3.50 representing six months
interest on the entire bond; the sec.
md coupon will be for $24.6S. s12.5O
or account of reduction of principal
md SELLS representing the second
TX months interest on the entire bond
nd so on. reducing the amount of the
interest as well as the principal ever,
TX months and accomplishing a re.
uction on the loan of 81 900 annually
apply pro rata on each bond
Your committee believes that this
the most economical plan that can
e adopted and one that will attract
lVestors. IL is considered especially
that at least a part of the "
ond issue shall be placed with pri. !
ate individuals and particularly with
ub members IL is reasonably Ger
lin that of $4,000 or one.fourth of the
'tal issue be SO taken the remaining
5000 can be placed with the local :,
,nks. Assuming only that the proper r,
'nditions obtain as to issuing and Sc n
ring the bonds your committee is
receipt Of assurances to that effect =
ON the banking institutions OF our =
ty y
To that end 1t is therefore recon. \,
ended that the members of Alexan n
II club be called upon TO support this ~
an 10 the, extent of subscribing for a,
least Oneforth of the issue or /,
900. That the subscription made
ay be paid in a manner that will a.
'rk the least hardship upon subscrib. 10
it is recommended that club mem.
RS may have the option of paying N
T bonds subscribed either upon date FIR,
issue or In monthly installments or wi
per cent of the principal on the be
st days Of January to October. 1906
elusive, receipts to be given for
ch payment by the proper officers Sp
the club the bond or allotment TO at
delivered upon payment of the final ms
'tallment 1t is recommended that wi
S popular subscription be at once an
nounced, tonight. and the subscrip. At
n books declared open forthwith. p.
Your committee recommends that no
funds applicable to the erection. laf
lipment and furnishing of the new Ar
b house shall be placed direct IN bet
general club treasury as received "a
d that all bills incurred BY the inf
lding committee or for account of
n work shall be first approved BY nj
of the building committee III
! presented each month to the regu
meeting Of the governing board
audit and approval, by which board
Ill