Honolulu star-bulletin. [volume] (Honolulu [Oahu, Hawaii]) 1912-2010, 1917-05-07
SPLENDID ADVANTAGES OFFERED BY
ARMY AND NAVY Y. M. EMPHASIZED

est way, TO rent small building Tor
a start or to buy one.
''Wefl. we found II couldn't be done.
; There was nothing suitable on the
market. Then there developed this
possibility Of acquiring the Royal Ha-
waiian Hotel property.
II is the opportunity OF a lifetime.
For reasons / needn't go into, but with
which many business men are fami-
liar. the owners find themselves in a
position where II is more profitable
for them to release the capital tie d up
In the Royal Hawaiian property and
apply II elsewhere than to carry It
over into the future for the figures Ii
undoubtedly will command. In other
words. We are acquiring the property
for less than it actually is worth.
Probably no other purchaser could
buy for the price we have been quot
ed Part of our good fortune is due
to the public spirit OF the owners.
They can see what the establishment
of an Army and Navy Y. M. c. A. in
the heart of the town will do for the
community. And part OF our 59o1
fortune Is our rightful increment,
The mere fact that we are the buyers
assures the future~of the property. A
rival hotel company, for instance
C uldnt expect to get the quotation
offer US. In a word, as / started 0It
by saying, the whole combination CT
circumstances just fits in to make he
opportunity Of lifetime.
/ 81 think the committeeman actively
In charge of our campaign here fully
realize all this. No doubt they were
alive to much of it before / was. They
saw it first But want to. pass It on
to the general public. The more OF
a community enterprise this is, the
better II will succeed.
There have been instances. where
the international Committee put up
the whole plant out of its own funds.
These were cases where the need WAS
greater and the home people absolutely
could not finance, their share. So New
York assumed the entire burden. i"
Frankly, we did not expect from
Honolulu the reception we have net.
We knew What ID great work for SO
small an Amer ican population is be-
ing done here now. So We came pre-
pared to open our campaign nnodestly
and feel Our way along. -
Then came this opportunity. Head.
quarters in New York saw It and was
willing. to help Honolulu saw II and
Is helping more generously than We
expected. With the active eoopera.
ton OF the two branches of eRdeavor
there is no doubt that we shall carry
through. r. ~. ~
Il have looked inte the situation
thoroughly. Our operating expenses
estimate at SIT 500 a year, and our
probable income $4,000 in round
figures. i have been generous with
the expenses snd cautious with the
income. - =.
THE deficit viii be cared for cut
Of the revenue froIa our endowment
fund, provided for just this purpose.
The point / wish to make is that,
once the plant is put in running con.
dition, there Is no chance Of its go
ing bankrupt. The international COM:
mittee stands behind It, with its vast
assets. OF course our earnest en-:
deayor is to make It as nearly sell
supporting as We can. :.
some idea oil, cur resources may be
had from the last annual report We
own 1872 building, scattered all over
the country, valued at ninety-two mil
liens Of dollars. Our expenditure for
fhe last fiscal year was St4 ,345,722. e