The Topeka state journal. [volume] (Topeka, Kansas) 1892-1980, 1919-03-28

lows.
The Official Report.
Topeka. Kan, March IS, 1919.
The charter board met in special session.
Present: Attorney General Richard J.
Hopkins. Secretary of State l.. !. Petit
john and Bank Commissioner Walter E.
The application of the Renker Hot-1
GO mpany of Topeka. Kan, was taken up
and considered and after due considera-
tion and deliberation the charter board
finds that the promoters plan of business
ond hotel in Topeka. Kan: is unfair and
inequitable, that the securities Offered in
payment for property are in excess of the
reasonable value thereof and that the enter
prise is merely scheme of the promoters
to get rich quick at the expense OF the
RICHARD i. HOPKINS,
Attorney General and President of
the Charter Board.
L. ]. PETTIJOHN,
Secretary of State and Secretary of
the Charter Board.
WALTER l.. WILSON.
Bank Commissioner.
The investigation by the charter
board at which the findings were
made was special one. incidentally,
the findings recognized the Hotel
Kansan. Ninth and Kansas avenue, as
the original reliable hotel project in
| Topeka, by CHASING the Hotel Renker
as a second" project.
Recognize Hotel Kansan.
The Renker hotel is in no way con-
nected with the Hotel Kansan. now un-
der construction at Ninth and Kansas
avenue.
The Kansas Hotel company, erect
ing the Hotel Kansan," has been
granted a charter and the right to sell
stock for some time.
President MacLennan Writes IA Letter
Frank p. MacLennan, president of
| the kanSSS Hotel company, the con-
Germ now building the 'Hotel Kansan"
at Ninth and Kansas avenue, sent the
following letter this morning to Walter
z. Wilson of the Kansas blue sky
! board:
OFFICE OF
THE KANSAS HOTEL COMPANY
Owners The Hotel Kansan
Frank Z. MacLennan, President.
II. A Auerbach. Vice President
G S. Elliott, Secretary.
David Bowie, Treasurer.
Directors:
| Frank p. MacLennan Geo: 2; McEntire
! c. s Elliott II. y. Yoder
| Geo. Godfrey Moore
! Topeka. Kan. March 2S 1919
/ Mr.. Walter f Wilson, Blue Sky Board,
Dear Dear MIR Wilson; notice large ad-
vertisement in the Topeka Capital this
| morning about proposed ten-Story hotel
| at Tenth and Kansas avenue, wherein the
| hotel company announces: OFFERS for sale
| 10 participating. preferred stock, par
| This advertisement recites that Robert
| Stone, J. c. Slonecker and J. X. Burrow
are trustees for the company.
| In the advertisement ii is also stated
! that the company is endorsed by many of
! Topeka's best citizens. In the list OF
! endorSers are Charles II. Trapp. one of the
/ directors of the Chamber of Commerce of
! Topeka, and Frank T.. Brown, publisher
of the official organ of the labor unions
| My understanding has been that your
| Board has refused to grant this particular
company permission TO sell ITS stock. If
| The Blue SKY Board having given per
] mission to the Kansas Hotel Company to
1 sell its stock for the completion of the ten
| Avenue. does 1t not think that to give a
/ second hotel permission to sell its stock
! pekanS who have invested their money in
! the hotel at Ninth and Kansas Avenue?
/ 1t is difficult proposition to build even
| one ten-story hotel here in Topeka. and if
! two are to be built one would injure the
stock of the other. InaSmuch no per
mission has been given to sell the stock of
advertise this stock and confuse the public
and hurt the sale of the stock in Topeka
/ and Kansas necessary to complete THE
J Hotel kansan.
| Please advise me at once. officially,
! WIeIuer You nave really granted the second
! hotel permission to dispose of its securi-
/ ties.
! NV duties as President OF the Kansas
} Hotel Company to the stockholders. who
( have already paid in $1J0.00o of the $4,000
subscribed. make 1t imperative that /
| should have this information promptly SO
that | may know whether these stOckhoId-
( erS are going to be protected 50 far as
( the Blue sky Board may protect them; or
/ whether the town is to be canvaSSed by
/ two wOuld-be rival companies. each alleg-
: irG to be about to build ten-story hotel.
! | am quite sure that under similar cir
I cum>tauces your Banking Department
/ would not permit the sale of stock for a
1 new bank in town where you thought ii
would be detrimental to the community to
/ have sold the stock of a bank which you
I did not deem necessary for the welfare of
J the business of that community.
/ Yours very truly.
FRANK p MAC LEHMAN.
| President, The Kansas Hotel company.