Arizona republican., 1919-03-16
PLANS OF HOTEL DISCUSSED BY
 BUSINESS MEN
Proposition to Finance and Build Luxurious Hotel Is Given Endorsement of 100 Citizens at Dinner

The proposal to build and maintain ,g Phoenix a tourist hotel of the very highest order was discussed and en- Jorsed by l0o prominent business men and citizens Of this city at a dinner ai the Country club Friday evening at which tune the plans of financing the project were discussed
 The officers of the new hotel com p9uy are as follows.
 Edward r. Parker. president, Chas. li McArthur. vice president. Sims Ely. secretary. H. W Asbury. treas urer; directors Edward r. Parker, 'harles IT, McArthur. Sims Ely II. W. Asbury Warren McArthur. l.. J. Ben n.tt T. w. McDevitt \. Randolph Crrf. F.. r. Conway. Hon. Joseph kib- Dty. L.. IT, Chalmers.
 The Arizona" is to be the name of tho new hotel the directors decided. and it was stated at the dinner that tho hotel should represent the very highest type Of structure of that kind. Nlth a service demanded by the most .astidious tourist Articles of incor- puration of tho new hotel company have been filed in the office of the state corporation commission.
 Plan of Financing
 To the business men attending the dinner at the Country club Friday evening the plan of financing the new corporation was presented and dis cussed. The capitalization of the com panv it is stated is sl,l00,000, of which 1000. 00O is preferred stock in 10000 shares of a par value of Sl00 each. There also are 10000 shores Of com mon stock al par value of S10 each.
 Of the preferred stock. it was au- uounced that 7.5OO shares will be sold at par. totaling S750,000; the balance of 2.500 shares of par value of S250.- O00 to be retained in the treasury. The preferred stock will carry per cent cumulative dividends
 Seven hundred fifty thousand dol lars accruing from the sale of pre- ferred stock is to be used in the com uletion of the hotel project. Of the issue of 10000 shares of common stock. 5000 shares are 10 he retained n the treasury tO he issued by the company to leasors 10 insure the sue oessful operation of the hotel, any or an part of this 5000 shares Of com mon stock if not so issued 10 remain iu the treasury.
 The remaining 1000 shares Of com mon stock are tO be issued to the or canizers in consideration of their or ganizing the corporation and for trans ferring to 1t options for the land in this project and services up to the time the hotel Is placed on an operat- ing basis This stock is 10 be issued tu the following: ' T. W. McDevitt. Leo L.. Mann. Charles N. McArthur. A.. knH1 T- fr.h Cerf.
 The capital available for the enter prise is to be secured from the sale of 1900 shares of preferred stock at a par value Of slo0 for total of s750 900.
 Plans for The Arizona detailed 10 men at this meeting provide for a hotel Of 100 rooms and bungalows con taining 72 rooms. They arc 10 he fire proof and modern in every respect. of handsome design and with appoint ments in keeping with the semi tropical surroundings.
 The main structure will embody the maximum in comfort and enjoyment to the guests among its features be- ing a magnificent ball room. dining room. music room. pipe organ, library swimming pool billiard room. solar ium. etc.
 There also are to be ample garage facilities. with chauffeurs' and helT quarters The Arizona is to be pre- pared and equipped to offer 10 the most discriminating tourist complete facilities for the enjoyment Of horse back riding. motoring. trap shooting. etc. They also are tO have access tc an 1S-hOle golf course with the sur roundings of the hotel landscaped ir beautiful gardens, tennis courts and other features.
 In the discussion of the plans foi this hotel it was the unanimous opin- ion that Phoenix should have one o the finest tourist hotels iu Amcric; and make it one of the best knowr resorts in the country; to permit bid ding for large conventions and as scmblies because it will provide sui Gciently large and attractive place t' entertain them: in addition to attract ing wealthy tourists it would resul in bringing added capital to the citl and valley. that it would aid greatly in placing Phoenix on a main lin' niroad that it would result in in ducing desirable people to mak' Phoenix their permanent home an, thereby add to the population of thu ely. that it would be the means O bringing a large amount of mone' yearly tO Phoenix and the valley: tha the labor in constructing the hotel a Inc present time is greatly needed
 A complete canvass of the city is {, be made by committees to give every one an opportunity to assist in the ii nancing of the hotel company. Tn official name of the company is "Th Salt River Valley Hotel company temporary offices having been opene, at the offices of Chalmers. Stahl. Fen nemore and Longan in the Flemin: