The Washington herald., 1907-06-01
HEAR BUILDING PLAN
Chamber Of Commerce Com
mittee Considers Scheme.
OUTLINED BY R. N. HARPER
President of Organization Suggests
Arrangements by which Home for
Erected-Is TO Be Paying PROPOSE
tiOn-MethOd Received FavOrably.

The building committee Of the Chamber
of Commerce met yesterday afternoon, at
the call of the chairman, organized, and
took up the preliminary consideration Of a
plan TO erect a building for the permanent
home of the chamber. About 10 of the
100 members of the committee attended
the meeting. and substantial progress was
made toward the object the committee
has I'm view.
In organizing the committee Z. c. Gra-
ham was elected vice chairman and Mon
roe Luchs secretary.
In calling the meeting to order Chair
man Bell stated that il was the intention
of the Chamber Of Commerce TO erect a
permanent home as soon as it could be
accomplished, and that his committee had
been named TO take up the work and
prosecute il to a finish He said the pro
posed building would be an investment
TO the stock and bond holders and not in
the nature Of a free gift to the city. Mr.
Bell believed the project was feasible
and he thought that it ought 10 be ac-
complshed without undue difficulty OF
any Herculean amount Of effort.
Mr.. Bell called upon President Harper
Of the chamber to present the general
plan worked out by him TO provide funds
and erect the structure.
Harper Outlines Plan.
Mr.. Harper stated at the start that the
project had been considered only in the
light Of a paying investment for the stock
holders. He said he wished 10 disabuse
the mind Of all of any impressions that
subscription 10 the building fund was
charity or any sort Of a sacrifice for the
chamber or for the community in the up
/ building Of Greater Washington. Mr..
Harper stated that it was proposed TO
/ pu. up such a building as would provide
/ "A suitable home for the Chamber Of Com
merce, and at the same time yield a good
/ revenue upon the amount invested. II
this cound be done by private firms and
| individuals. he could not see why It
could not he done by "a stock company OF
possibly 1oo or 200 stockholders.
! Mr Harper stated that the amount of
/ money required 90 buy site and erect
/ the structure would depend upon certain
conditions regarding location. the size ot
/ the edlfce, and the Judgment Of the com
mittec in charge of the project Mr.. Har-
/ per thought the building ought 70 stand
/ upon one Of the principal streets I'm the
! business center Of the city. where the
opportunities Of revenue would Doe greatest
and where they would be permanent for
/ a long period Of time. That fact alone,
/ ne said. would increase considerably the
/ cost Of the site.
Could BE Made to Pay.
NIr. Harper thought the Judgment AMI
| experience Of a competent architect ought
to be taken into account, both as to the
size and general arrangement OF the build
\ ing. AS the production of revenue was
/ one Of the chief objects sought, AIr. Har-
h per conteuded that every available foot
of the building should be utilized TO the
best advantage.
Il As to the general plan Of the building.
I Mr. Harper said the ground floors should
be given up 20 stores or business places
Of some character. Then should be pro
vided several stories Of Office rooms. made
attractive for rental purposes.
The tcp floor Of the building. with q
ceiling perhaps fifteen feet high, should
be reserved as the headquarters of the
/ Chamber Of Commerce. where should bc
provided dining-rOpm, ClubTOOm. pri
vate rooms. two or three in number, and
an assembly hall for the meetings of the
chamber. lie suggested that the dining
| room and assembly hall might be sepa-
! rated by a movable partition, Sd that the
two rooms could be made into one OF
/ occasions when large gatherings were III
/ attendance. Mr.. harper also described
how the club and dining-room features
should be conducted by a special com
mittee Of the chamber, which would ac
in the capacity Of a board Of governors.
Scheme for Financing.
Mr.. Harper suggested a general plan
! for financing the enterprise. as follows
Procure $4,000 by the sale Of bonds; Dor
row sl00 600, to be secured by a first trus
upon the property. The site purchased
would then have title in the Chamber OF
Commerce He thought a part Of the pur
chase price of the site would be taken in
bonds. To erect the building, Mr.. Harper
said It would be necessary to raise about
$4,000 in bonds, to he issued and sold Fl
the open market These bonds, he said
would have a per cent guaranteed divi
dend, secured by a second trust upon tn,
property. The building once erected. tht
= surplus Of its revenue would he devoted t,
paying off the first trust, which would b,
liquidated within a few years.
Mr.. Harper suggested a plan for raisinl
the money needed to finance the project
that twenty persons should purchas
$500 In bonds each. making s100C00
twenty more should take 5000 in bond
. each, making $4,000; forty should TAX
81. 900 in bonds each. making $4,000; fift!
persons should buy 500 IN bonds each