The Birmingham age-herald., 1914-07-02
NOTD|SCOURACEDBy INTIMIDATION OF THE AUDITORIUM BONDS
Matter Will Be Taken to the Legislature and Larger Issue Voted Next Time
 Is the General Belief

A strong sentiment of optimistic satis- l faction prevailed about town yesterday over the state supreme court decision de- nying the right of the city to issue pub lie auditorium bonds. It was generally
 stated that it appeared like case of good luck in disguise, in that in the long run the delay would rebound to the benefit of the city and result in the erection of larger auditorium.
 The first feeling of disappointment soon gave way to the general spirit of sat isfaction with the new footing upon which auditorium workers found their pet proposition.
 It was stated that in all probability q bond issue now will be voted for quar- ter of a million instead of for just $200 900 and that the result will be an audi torium more commensurate with the needs and aims of the city of Birmingham. The anticipated $250,00o issue which will be forthcoming as soon as the legisla- ture acts is being discussed as n per cent issue instead of per cent, as was the issue declared void by the decision rendered yesterday. $25o000 bond issue at per cent would be less expensive to the citizens than a $200 900 issue at 5 per cent, it is said. The difference in the interest on just $2o0o00 would be S60,00O during the life of the bonds--30 years-which would allow a s25o,0oo bond issue at per cent and the total cost would be about $10,00O less. That a 4 per cent issue could be handled with complete satisfaction is generally accepted. It is stated that 1t is highly probable the whole issue would be taken by local investors.
 President Paschal c. Shook of the Chamber of Commerce stated yesterday that nothing would be done now until tho next legislature met and a new law was enacted giving the city the power to issue the bonds. City Attorney Ro- maine Boyd, who has been handling the legal end of the test case almost ex- clusively, stated that he had largely an- ticipated the supreme court decision. al- though he had not said much about it. as others appeared so set in the belief that the supreme court would hold the Issue valid. The three city commission CTS were inclined to look with favor on the decision, stating that in the long run tho city would benefit by having a better and larger auditorium.
 Mr. Shook said that he, of course. was sorry that work could not be started inn medlately on the auditorium but stated that when the time came it would be erected on even a larger scale MT. Shook was chairman of the auditorium committee of the Chamber of Commerce during the administration of W. P. G. Harding as president last year, and 1t was largely due to the efforts of his committee that the vote was so over whemingly in favor of the bond issue.
 Robert Jemison, Jr., said yesterday that he believed the dicision of the supreme court really was a blessing in disguise. '"The amount of the issue would never have been large enough" said Mir. Jem- ison. with only s2Oo.0O0 we could not have hoped to erect a building anywhere within reasonable reach of the business district of sufficient size to accommodate large conventions and operas.
 'We have the hotel facilities and when the legislature meets we will renew the fight for an auditorium. We can build better next time, for we will make it larger and that will mean the coming to Birmingham of many large conyen- Hons."