Honolulu star-bulletin. [volume] (Honolulu [Oahu, Hawaii]) 1912-2010, 1917-05-02
Continued from page enep


t2J Buildings Enough for Work
land TO Rent-TheFe are sufficient
HMldiDgs on the ground not only to
accommodate the 4nmediate vneeessi-
ties Of the organization; but for rental
for store and ether purposes, sutfi-
Client TO give a considerable income
to apply toward operating expenses.
CIV Room for Expansion - There
is land enough in the premises under
consideration for all expansion that
the organization viii ever require.
ca There ale no other available
premises IN the citESso advantageous
| ly located. Of sufficient area Tor IRE
purpose. The location is ideal. 1t ad-
| joins the Masonic Temple.
II is across the street from the
Episcopal cathedral, Central Union
! church. the Y NJ c. A., the University
! Club and the Pacific Club.
1t is diagonally opposite the rarts
toll grounds and the Y. w. C.. A. 1t is
within one block Of the National
Guard armory of Honolulu, accommo-
dating II companies: OF the Young
! Hotel. the leading hotel of the city:
Of army headquarters. and Of the new
81 coo, 900 Federal building.
1t faces on four streets. three Of
them being main thoroughfares
Through the city; street car lines be-
| ing located on two of them. It is only
one block distant from King street
the Broadway" of honolulu. on
! which is located the principal street
car lines These street car lines lead
| 70 So, 90
and connect direct with the cars
which run to every other army and
navy post on the island.
II. is only eight short blocks, about
six minutes walk. from the station of
the railroad which operates to Pearl
Harbor and Schofield Barracks.
1t Is in the direct line of growth
and development of the city expan-
sion. The city must grow in this d.
rection.
~ The price asked, approximate
ly $3.50 per square foot is low one,
compared with other recent sales in
this vicinity.
10. Required Financlng.. The es-
innate of Messrs. McCarl and Horn
is that in addition to the, purchase
price Of $250,000 there will be requir-
ed for alterations, equipment and pre-
liminary expenses, say $4,000. Total
amount required, 1875, 000.''
II. Proposed Method Of Financing.
1t is proposed that the local commun-
ity be asked for 100000 to applV on
the purchase of the property, the re-
mainder of the principal sum and all
deficiencies in operating cost to be
obtained from the mainland and the
central organization.
II. Detail Of Estimated Receipts
and Expenditures. The estimate of
MessFsa-> McGarl and Horn Is that q |
portion of the property not now need
ed for the direct objects of the or.
ganization can be rented on a conser-
vative basis for $4,000 per annum
and that expenditures IN connection
with the same will not exceed $4,000,
leaving net income of $10,500 from
this source
Their estimates of receipts and ex-
penditures Of the Y. M. c.. A. proper
are:
Estimated receipts 900
Estimated expenditures. ......' 1880
Annual deficit to be made up. s $500
If the entire property is not paid
for at once, so that interest has to
be paid on a part of the purchase
price, there will be ample surplus in
come to pay such interest. Attached |
hereto are the details of such esti-
mated receipts and expenditures.
g. Ultimate Development. Of the
Local Organization, 1t is. estimated
that the future development of
this work will necessitate the ex-
penditure Of at least one half
million dollars, for as the number
of men at Pearl Hafbor and the vari-
GUS forts are increased, additional club
buildings will have to be provided at
these places in addition to the mod |
ern building to be erected in Homo
lulu.