The Hawaiian gazette., 1909-08-10
MORGAN TELLS Of
HUIlDING PLANS
fcentlnusa rrom 90 pnsl

Of the United siaies, and u we hope
20 strengthen our influence in Con
gress and elsewhere.
"The business Interests Of not only
Honolulu but Of the entire Territory
will be- benefited by such an enterprise.
while the work of the Chamber in tho
past has proven Of distinct benefit TO
the Islands. ] feel that IL should be
bfoadened and extended. and this Ger.
tainls can be much better accomplish.
ed II we own our building than IL we
simply continue to occupy small
room in another Office building. The
people generally viii. / am sure, take
a deep interest in such an undertaking.
which viii tend to make them realize
that the Honolulu Chamber of Com.
merce has a distinct and forceful en-
tity. and that the organization must be
counted with in all that pertains to
the advancement and betterment Of
conditions throughout the Territory.
"Stfangers coming TO Honolulu from
the mainland and abroad are constant.
~ asking: Where is your Chamber
Of Commerce buildingi Where are your
exhibits If the products and industries
Of the Territory such as we find in
other progressive cities7' Standing as
we do at the Crossroads of the Pacific,
much more is expected Of us than Of
other cities elsewhere ten times the
sizc Of Honolulu.
"In the present room Of the Cham
Der. third floor Of the Stangenwald
building. may be seen the plans for a
Chamber Of Commerce building, sub.
mitted by two of our local architects.
BY these it win be noticed that the
cntire~upper floor Of the building is
reserved for exhibits, excepting a small
space to be occupied by the Sec
retary's Office and the Information
Bureau.
"The ground floor and basement will
be rented for business purposes; the
second story will be arranged for Of.
| fees; the third story will have n
Directors Room, Assembly Hall, capa.
bic Of scating fully FIVE hundred peo.
pie, besides another large room, which
can be leased to the Stock Exchange
or some similar organization.
"The contemplated cost VIII be
about as follows:
"Price Of land, $4,000; suitable
| fouT'story building, modern in every
detail, finished complete, $50 900; max.
| ing total of $4,000.
'In order to provide the necessary
| funds to carry through the enterprise
| it is proposed to receive cash dona-
| tions from such members and friends
having Hawaii's prestige Mt heart as
may be able and willing to contribute
and to issue shares of building stock
to members only of a par value of
800, upon which it is proposed to pay
interest at the rate Of per cent. BY
these two methods I feel assured that
fully $4,000, the balance ($7500O) ia
be obtained by the issuance Of bonds
bearing interest Mt the rate of or
per cent.
"Applications have already been re-
ceived for all of the ground floor, and
number Of inquiries have been made
concerning Office floor space. Upon the
completion of the Federal building
both stores and Offices will, in my
opinion, be at a premium.
"As previously stated, plans have
already been submitted by two of oul
architects (Messrs. j. II. Craig and II
l.. KERR, and additional plans are ex
pected from Mr.. W. L. Emory and Mr.
Edward G. Duisenberg.
"The option on the lot am de
sirous of securing will soon expire
Therefore, prompt action on the par
Of the members Of the Chamber i
necessary.
, ''I enclose herewith a statemen
showing average monthly receipts an,
5 expenditures. Please look over tn
same carefully, and l feel assured yo
/. will be convinced that l am offerin
;, you a safe business proposition, on
. that merits your approval and supper
aside from your desire as membe
TO build up and strengthen the Hone
0 lulu Chamber of Commerce.
: To the letter is appended the follow
!. ing estimate Of the cost of operatin
}. the building and the income that ca
I. bc counted upon:
IS Monthly Receipts ESTIMATED -ReI
). ground floor and basement, $500; rel
:. second floor offices, $3.50; rent thin
"a floor (Chamber of Commerce and 9th,
!, rentals), $3.50; rent fourth floor exhib
2 and information bureau, 800; maxim
I. $1,000.
r, Monthly Expenditures ESTIMATED
=. Taxes, $i3;Nelectric power and ligh
" $50; janitor service and labor, $l0l
d patrol, 80; supplies and light repair
$50; water rates, So; sewer rates,
h. insurance, $25; interest on bonds, $7i
', 900 at per cent, 1915; per cent /
|. tcrcst on 100000 stock, S75; bon
I. redemption fund.-, 1885, rhakii
10 $1,000.
/