The daily Gate City. [volume] (Keokuk, Iowa) 1855-1916, 1911-02-03
NOTHING TURNED DOWN
Declares That "a Proposition o
Large and Generous Proportions
Was Not Offered as
Reported

The hotel situation in Keokuk will
become an important topic within a
very short time and enlarged facilities
| for handling the people who come to
| Keokuk. must be effected The pres
ent largest hotel, The Keokuk, is be-
coming cramped for room and The
Gate City has given publicity to the
topic on several occasions.
VIM Ballinger, president Of the com
pany which owns the building, has the
following communication OF interest
on the topic Of enlarging the hotel:
To the Editor of The Gate City:
In the matter of enlargement of the
Keokuk Hotel Co. property, something
more should be said so as to put the
situation in clearer light. In your
issue of February 2 Iessees are re-
ported as saying that we turned down
"a proposition Of large and generous
proportions made by them and fur
Their President Chistian said that
with an investment of $4,000 forty
additional rooms could be construct
ed on the present property of the no.
tel company. In return for this in
vested money the directors and own
ers of the building would receive ten
per cent. the entire Indebtedness to
be lifted by the lessees in a period of
ten years" / must believe that
Messrs. Christian and Hedrick we're
not correctly reported, for am sure
they would not Intentionally make
any mistatement of any fact. The
truth is that they made no proposition
of any kind whatever. II we turned
down proposition of large and gem
erous proportions, as stated, such ac-
ton on our part would have been a
poor compliment to the business acu-
men of the seven Keokuk directors.
They did ask several OF us whether
we would subscribe $4,000 each for al
enlarged hotel, which we said we
would consider and answer later. In
turn we asked them If they would sub
scribe the money and they promptly
answered no. If the larger investment
would have been such bonanza for
us, who are not hotel men, why not
much more SO for them who are. But
while willing for us to put up our
money they refused to put up theirs.
While no proposition was made, plan
Of action was offered. This was to
sell the hotel property at auction to
the highest bidder and out of the pro-
ceeds pay off the two mortgages to
the loan and building associations, pay
the charges incident to the sale, and
divide what might be left among the
stockholders. This plan was unani-
mously rejected by the directors by a
vote to continue our present lease as
it is. If we had adopted the auction
plan, none of US want a hotel Git
would be like buying an elephanf and
would we not be at disadvantage at
the sale, and possible fail to do our
highest protect the stockholders
whom we represent? Ii SO sold Keo-
kuk would be no nearer to an en-
larged hotel than now. The situation
would simply be shifted to deal be.
tween the buyer and lessees. or to
lessees alone, if they should be the
buyer. We asked lessees If sold at
auction would they guarantee mini
mum bid SO that the interests of the
stockholders would not be sacrificed
They promptly declined.
The main question about the enlarg.
ed hotel is the money. Any citizen
who wants an enlarged hotel will be
given chance to put up his money
for it. 1t is no more up to the ex
isting stockholders to do this than to
him. Let him come in with his cash
About twenty-five years ago, the
stockholders Citizens of Keoknk)
from love of their city and in order