Evening public ledger. [volume] (Philadelphia [Pa.]) 1914-1942, 1917-06-27

Well, it is Atlantic City 7ohieh furnishes the
setting for big enterprise, which we are putting
through in spite of the fact that our country is
engaged in war
We planned this enterprise before war was
declared and have continued to deUelob it since,
despite the hysteria that stopped many lines of
business from going ahead with that confidence
and enthusiasm which is required of all business
if we are to place our country in the position to
meet promptly the demands Of war
While we have consistently followed for
Ward-gOing business course, we stopped long
enough to do our share in making the Liberty
Bond Loan a success and to heed the call for
funds to sustain the American Red Cross in its
magnificent and unselish work; and we will stop
again long enough to help the next Liberty Bond
Loan to quick success and to do all else asked
of us in service to our country.
FOR TWENTY-FIVE YEARS Atlantic City has
hadmany people knock at the doors of its hotels
and boarding houses asking to be housed and fed than
it could possibly entertain.
You know that this small city by the sea, endowed
by nature abundantly than any other resort in
the world, is AN EVER-INCREASING ATTRAC-
TION TO MILLIONS OF PEOPLE.
Its Boardwalk is the greatest highway in the
world! Easter Sunday on Fifth avenue New York is
the only parallel demonstration of a crowd that
santly surges up and down this great highway.
Further development of the Boardwalk front at
Atlantic City has been retarded in recent years because
property was held in small pieces by great many
people Not enough of it could be secured for the build
ing of more big hotels on the front for which
there is great demand - thousands of people being
turned away yearly by owners of the present fine hotels
the Boardwalk
Then again property held at a very high figure
each owner placing his own valuation on it. AS
illustration, offer of nearly $2O 900 front foot was
recently refused!
Some time ago a syndicate of able inanciers inves-
tigated property on the front and discovered
fine site, extending several blocks, which is located
right in the heart of Atlantic City. The site is known
as The Bowery" with which most of you familiar.
You have wondered no doubt why this magnificent
frontage was never converted into beautiful ocean
plaza.
The difficulty that stood in the way of purchase of
this site was that it was owned by 72 different people,
controlling SO different pieces and no two of them
let alone all of the To- could ever be induced to agree
upon price until the Syndicate checkmated them
6y Send1ng out enough statesmen IN one day to them
all and get their signatures to agreement to sell
before they had chance to consult aOh one another!
The Syndicate bought the property for the sum of
$6OOO,O0O
We were consulted very after the property was
acquired about forming an Operating Company to
lease and manage three big hotels to be built of rein
forced concrete by the Atlantic Manhattan Construc-
tOn Company
All of us have known for many years that Atlantic
City offered exceptional advantages for more hotels on
the Boardwalk - Notwithstanding the manv fine and
prosperous hotelS already therebut apparently there
was no site to be had until the Syndicate acquired the
several pieces of property mentioned.
Knowing that there exists ver great need for more
hotels on the front and feeling absolutely certain
OF our ability to successfully direct three big hotels we
quickly organized under the Laws of the State of New
Jersey, an Operating Company capitalized at Ten
Million DolarsFive Million Dollars in TO preferred
stock and Five Million Dollars in common stock both
OF par value One Hundred Dollars.
We ourselves Immediately subscribed for stock to
the amount of $1,3000OO.
That would be a very shaky enterprise indeed which
sought the confidence and money of others if those
fathering it did not back it with their own condence
and money-would it not?
Preferred stock to the amount of So 100000 is now
offered to the public and to every purchaser of our
preferred stock will be given 509o bonus in common
stock-that is to say, purchaser of 81 900 of pre
1erred STOCK VIII receive gift of $500 of common
stock. - ~
You may be curious as to why $5,O OOOOOO-S3 7OO
Officers and Directors
JOHN Nee. BOWMAN of New York City, Presidsnt ~ +b
companies respectively operating the Hotels Bltmore
manhattan and Ansonia, and the Hotel Commodore now
under construction-Presdent; NV"
Won H. HERR of Atlantic City, NJ j. Vice Prosidert % .h
Herr Corporation-Vice President; N VIM
FRED A. REED Retired formerIv Pronr;O+or ., A. NJ,
Avenue Hotel in New York-Treasurer w N
LOU WALLIcK, New York. Proprietor of Wa,lil, tJ.,
New YORK the Hotel Secor of Toledo and the Hoe Desh
Ter Of Columbus, Ohio ~ WV ' Oe'iF
DAVID H. KNOTT, Of New York Pronriator - +b. ~.
Hotels including the Madison Square the Earle LIE Maronis