The Greeley tribune., 1906-03-29
COMMERCIAL CLUB DISCUSS
NEW HOTEL QUESTION
Committee to Dtaw Articles of
Incorporation for Hotel Com
pany to be Organized
at Once

The Commercial Club banquet
last Monday evening was smokeless
until $50. This did not prevent
the oratory upon the new hotel ques-
tion to be as two.sided as questions
that come up before the club usually
are.
After brief Introductory talk on
the subject President Clayton asked
B. D. Sanborn, chairman of the
hotel committee, to make report
on the matter so far as the commit
tee had gone. He stated that the
committee had decided upon the lot
at the northwest corner of Tenth
avenue and Ninth street as the best
for hotel purposes, and that options
had been taken upon two lots there,
and that steps had been taken to Sc
cure the short piece of alley running
north and south back of the lots
|
fronting on Tenth avenue.
Mr.. Sanborn was followed by j.
NJ. B. Petriken, also member of the
committee, who spoke on the tinan-
cial end of the enterprise. He stated
that the plan decided upon was the
issuing of bonds to the amount of
500, ,oo0,.. or as much as would he
deemed necessary for the building
of the hotel, that each dollars worth
Of bonds purchased would carry an
equal face value of stock in the COM
pany to be organized. The bonds
will carry 4 per cent interest, and II
the hotel earns more money than
this it will be distributed to the
bondhoders in the way of dividends
upon the stock, as the two. would be
identical.
C. J. O'Connor, manager and pro-
prietor of the Oasis hotel, was pres
ent and was asked to give some in
formation upon the hotel business.
He spoke il. favorable terms of the
DTODUSCt' ollC3 anu was VI LILO OPAhASAi
that tirst-class hotel at that place
would pay, but that the. Oasis hotel
could never in it's present form be
made to pay, as it was not arranged
right for economical management.
Mr.. O'Connor also advised the
Commercial Club or ""whoever might
constitute the new hotel company to
be most careful in the selection of a
manager for the hotel, as upon him
J depended entirely the returns on the
investment. If possible, man
! should be found who would be will.
ing to put not less than $4,000 of
his own money into the project.
The offer of d. A. Camtield to put
in fifty per cent of any amount
necessary up to $1,000 for new
hotel, providing others would raise
the other half. is still open, and
upon this fund the rest of the sub
scriptions to bonds and stock will
be built.
President Clayton appointed II. n.
HAYNES, John II. Jacobs and Frank
|. Ewing committee to draft suit
able articles of incorporation for
hotel company. An opinion by Mr..
HAYNES on the alley already mem
toned, and which is needed for the
hotel building was read, in which he
stated that if the city council should
yacate the alley this would revert to
the abutting lots. AS these lots are
the very ones this will be used for
hotel site, the matter would be SIM
plited.
J. W. McCreery, who..lives across
the corner from the proposed site OF
the hotel, then addressed the meet
ing in opposition to. locating the
hotel there, as it would be an i'm
position upon the home. owners who
had lived there for years to have
hotel placed right among them. He
also brought up considerable num-
ber Of, what he called, legal conum-
drums, in regard to the vacating OF
that alley. The solution of these
conumdrums he stated he was not
himself in a position to guess, and
only the court judge who had the last
guess at them would be able to de-
eide. He might decide everything
in favor of the friends of this. pro-
ject, and he. might net.
Other members talked along both
sides of this question, and then the
matter of more stone Sidewalks for