The Washington herald., 1911-03-26

Before the expiration OF eight
cen months first ground will have
been broken for a $250,0O0 or
100000 building for the Washing
ton Chamber of Commerce, if the
movement now taking form within
the membership of that body accom-
plishes its purpose.
The recent introduction Of a
resolution calling for the incorpo-
ration of the Chamber under the
laws of the District of Columbia
was the first step in that direction.
FAVORABLE REPORT READY.
The announcement last week that a
subcommittee to which the resolution
had been referred had decided on 4
favorable report and would present a
plan Of incorporation at the next meet
ing uf the committee on laws and leg
islGtion was. in the minds of many, a
virtual promise of speedy building opera
tionS.
Approaching the added prestige that
has attached to the Chamber in the last
two years and certain that the almost
phenomenal growth both in size and
power. that has marked the history of
the institution in thai time will con-
tinue, the progressive members of the
Chamber favor a speedy incorporation
and stock issue as a means of begin
ninS building operations in the near fu-
turc. Eighteen months is believed to
be a conservative estimate of the brevity
OF the time that will intervene between
the Incorporation of the Chamber and the
breaking of first ground for the new
building.
In the face of the expense the Cham
her is now under for rented quarters,
lighting. and incidentalS, the issue of
sufficient stock to insure the erection of
a fine building would be a measure of
economy, in the minds of many. More
over, there has often been repeated in
the Chamber offers by the wealthier or
more confident members to take over
along with their own share, the addi-
tionaI stock of those members who do
issue is made. 1t is believed that the
entire issue would be taken up by mem
Ders of the Chamber.
Chamber Growing Fast.
In the last two years the Chamber
has been growing at he rate of about
twenty-four members 4 month. This in
fux OF members has been the result of
tireless efforts on the part of Secretary
Grant and the membership committee.
and little doubt is expressed but what
such growth could continue. But the
committee and Secretary
Grant are not satisfied even with that
showing, and within a short time-prob-
ably at the close of the summer lull
possibly before that time-a carefully
thought out plan of operations will be
put into action and will. it is believed
bring the membership of the Chamber up
TO the 1000 mark within twelve months
after II is started
Given a membership of 1000. any argu-
ments anent the unwisdom of building
would be mere airy pesif1age in the opin-
ion of the pro-building faction. A paid
up membership of ZOO would mean an
income of s+0,OOo-this leaving out
of consideration the income to be ex-
pected from the rental of Offices in the
home of the Chamber. According to fig
ures already compiled. the Chamber
could run. with a membership of 1000 on
$1,000 year. leaving a net surplus of
IS, 900 each twelve months.
Sinclair for Building.
A Leftwich Sinclair. chairman of the
on law and legislation, is
heartily in favor of such a move
The Chamber OF Commerce has become
a big. live influential body" said Mr..
Sinclair yesterday.
1T has several thousand dollars invest
I'd in interest-bearing securities, and is
surplus at the rate of about
s. 900 a year.
1t will not be long before the Cham
Der will have enough OF a neSt-egg to
take up the question of erecting a build
ng. Then, OF course, it will be highly de-
Sirable for the Chamber to be incorpo-
-ated
1T seems to me that we might as well !
incorporate now as a little Iater-espe- |
,ially in view of the fact that other !
benefits and advantages would accrue to !
he Chamber from fncorporation-but this |
s matter to be settled by a committee |
IT the Chamber, TO which the question of |
Incorporation has been referred for care !
ul consideration and report.
IF We do not incorporate before we start |
purpose would have to be held by trus-
ees for the Chamber-which would be |
'ery unbusinesslike and unsatisfactory"
Secretary Grant Favorable.
Secretary Grant was equally favorable
Since the organization of
he Chamber he said, 1T, has had a
apid growth. and has accomplished much
or the city. From time to time men,
'ers ask the question. Why can't we
AVE our own building? would be glad
o take stock in a company which would
rect building, with large han suited |
o convention purposes, as well as hav-
ng club features. gymnasiums, &c.
The erection Of such building should
10 much to bring about a Capitalization
Il the various organizations now working
or the city's advancement, a result much
o be desired. and one not so difficult to
accomplish. as is shown by the unfailing
egularity with which all organizations
merge in the way of joint committee
YORK when any really large and beneficial
,roject is advanced |