The morning journal-courier., 1908-12-03
Practical Proposition for It's Construction Made by c, E, Julin, of This City, to
 Alumni Weekly.
BOND ISSUE TO GRADUATES
To Have Face Value in Reserved Tick cts for Ten Years--Method Would Appeal to Alumni
 in Many Ways.

Tn connection with the agitation for better seating accommodations at Yale field or at some other place where stands may be erected in the future, the Yale Alumni Weekly has sent out letters to some of the graduates sollc- jtlng their opinions on the project In the issue of this week letters are published from John Edward Heaton of this city. r. M. Barber Boston manager of The Associated Press; c, F. Chapin of tho Waterbury Amer ican," and Charles E, Julin of this city. Of the various letters. the one of Mir. Julin contains the most feas- ible proposition, and one which doubt less will meet the serious considera- ton of the graduates. His reply to the query of the Weekly follows; Editor Yale Alumni Weekly:
 Sir: May I through your columns make a suggestion concerning your proposal to erect larger football stand. coliseum, stadium, or whatever he its final form?
 The general and unsatisfied demand for tickets of admission, demand that is growing annually and threat ems to swamp the present ticket dis tribution agency and involve 1t in end less trouble, makes timely and perti- nent consideration of the financial question. And that consideration may be an important factor in determin- Ing to what extent Yale ought to go in< the premises.
 It occurs to me that bond Issue to graduates of Vale would be likely to bring forth a big subscription if the money dividend feature be eliminated Graduates of the university would consider a benefit in convenience and freedom from the annual worry larger dividend than Q small check written In figures.
 beg leave to propose as a tenta- tive working plan the following
 Offer to graduates of Yale subscrip- ton lists for bonds in denomination of S100. redeemable in five tickets for each home championship game for ten years, a face value of S10O. be- 1ieve that graduates subscribing to such scheme would consider that the use of $1C0 from the first year to the tenth would amply be repaid in freedom from the recurring wory over their applications. Each coupon should properly be a mortgage as 1t were, upon certain block of five seats in the specified section of the stand as shown on the bond.
 Assuming for the p,tpose of matl- ematical demonstration, that 500 graduates subscribe $1O0, that would bring In s50O00 at once; were the number of subscribers 1000 persons, which is quite within bounds of req son, the sum realized would be $10O 00O, on which there would be no fixed interest charge, but merely tho lien upon 5000 seats for ten years. And what would reservation of 5,000 seats amount to if the stands he built to ac- commodate 50,000 spectators?
 Assuming again that the stands would cost $500, 900, one-thlrd of the cost of construction would thus be met at once; another sum of equa proportions could possibly be taker from the surplus already available from the University Athletic associa. tion's account, and the remainder s100.OO0, could readily be borrowed.
 The interest charges on that sun (one-third of the total cost) would ht so small that the first champonshil game would wipe out at least a. fourt' of the principal, plus the Interest fo the year, and in four or five years th big stands would stand free of all en cumbrance. save the lien as to seat 10 bondholders.
 Another feature of such an arrange ment would be that the general publi 10 which Yale owes courtesy, g least moral if not actual would thu he given opportunity to come in an share with Yale the loyalty to ou team that is latent In many New Ha ven and Connecticut hearts
 The matter of transferableness o seats issued to bondholders would be detail that could be arranged later upon fuller consideration ! offe these suggestions merely as a possibl starting point.
 CHAS. E. JrfLrN '99.
 New Haven, November 27, 1908,