Omaha daily bee. (Omaha [Neb.]) 187?-1922, 1914-09-11
WE OWN AND OFFER
$50
First Mortgage
$500
Real Estate
Serial Notes
OF
Davenport Hotel
Company
Spokane, Washington
Description of Note Issue
otthe Davenport Hotel Go.

Description of Note Issue
Otthe Davenport HoteIC".
TRUSTEE IN MORTGAGE
Union Trust & Saving Bank,
Spokane, Washington.
TOTAL AUTHORIZED ISSUE:
Seven Hundred and Fifty
Thousand Dollars (STbO,OOO).
NOTES PAYABLE:
FIFTY notes or $50, 900 on the
first day Of November of the
years 1914, 1918, 1919, 1917,
1918, 1910, 1920 and 1921, and
the remainder on November I,
1922.
INTEREST PAYING DATES:
May ist and November 1st.
PLACE OF PAYMENT OF
PRINCIPAL AND INTEREST;
Mercantile Trust Company,
st. Louis, Mo.
RATE OF INTEREST:
six per cent (09o) per an
mum, payable semiannually.
REDEMPTION PRIVILEGE:
Privilege II reserved by tho
makers to prepay any Of the
notes maturing November i,
1918, or thereafter on any IN
terest paying date after Noyem-
Der I. 1914, by giving thirty
days' written notice and paying
three per cent (8Fo) bonus.
FORMS OF NOTES:
Coupon, with principal SUBJ
ject 20 registration.
DENOMINATION OF NOTES:
Five hundred dollars (s0OO).
TITLE:
All legal matters In connoc-
ton with this issue, including
title to property and form of
deed Of trust and notes, have
been approved by our Counsel
Judge Richard l.. GOode. In
addition, the title has been exc
amined and certified 20 by
Messrs. Wakefield g. Wither-
spoon, attorneys Of Spokane,
and n guaranty Of title issued
and delivered by the Spokane
Title Company I'm favor of the
Trustee In the mortgage.
NoTEHoLDERs' SECURITY;
A first mortgage on centrally
located real estate fronting on
three main thoroughfares OF
the City of Spokane, having a
frontage of 200 feet on Sprague
Avenue, 1856 feet on Lincoln
street and 200 feet on First
street. a total of 81 900 square
feet. valued ut $3.50, 600. The
building has Just been COM
pIeted at q cost of 81 $780,
and was opened September 1st.
II is twelve stories and base
ment in height, with sub-base.
ment under about one-thiro OF
the building and of the highest
Glass A construction. The
building contains 361 guest
rooms. 2a2 private baths, ball
room. committee rooms and
banouet hall. On the ground
floor there are twelve separate
stores facing the street, with
entrance to main lobby OF tiie
hotel.
The hotel has been furnished
and equipped by the owners at
n cost OF over $2oO,OOO. IL IL
ouerated by the Davenport
Hotel Company, with Mr.. Il. NJ.
davenport, of national fame as
a caterer, rs the managing d.
rector.
The notes are the direct first
obligation of the Davenport
Hotel Company, a corporation
organized under the laws OF the
state OF Washington, with
1uII Maid capital of 81 800, 900.
It's stockholders comprise many
weII-known bankers, capitaiists
and business men of Spokane
and the Northwest.
We recommend these notes
TO investors for the following
reasons:
First: They are secured by
first deed of trust In the nature
of a mortgage on a plot OF
ground and new building worth
oOsT tsOo and ons-hGH times the
amount Of the total loan.
mr. cha-arfar ~ 3ha
building and it's location assure
It's steady occupancy, cOnse-
auently its continuity as n pay
ing proposition.
Third: The security is the
ground and building. This Sc
curtty grows greater each year
by the payment OF fifty OF the
notes or $4,000.
Fourth. They bear the highest
rate Of interest consistent with
safety and business prudence.
q Selections should be made at
once while we still have a large
range of maturities. Reserva-
lions may be made for delivery
within thirty days. Copies of
mortgage furnished ON appli-
cation. Notes win be delivered
without expense, and ut our
own risk, TO any Post Office in
the United States.
Mercantile Trust Co.