Arizona republican., 1919-03-18
START TODAY ID
 CANVASS CITY
 FUR NEW HOTEL
More Than Two Score Com mittees Are to Solicit Co., Operation of Citizens In Enhancing This Project

Committees numbering more than two score win start out at o'clock this afternoon to' make a systematic canvass of Phoenix for the purpose Of giving citizens Of this city an oppor- tunity 10 assist in the financing Of The Arizona" the proposed high class tourist hotel which leading business men lave decided is an urgent need for this city and valley.
 These men. who in addition Co sub scribinr for preferred stock of the new hotel company arc giving their time in order that this long needed im- provement may become a reality. arc very enthusiastic and believe that they will meet with cooperation on every hand. 10 is believed that by the com ing Saturday night there may be am over subscription for tho stock.
 The plan of financing the promoters lelevp, will assure the cooperation Of all. for it calls for no bonus ot any kind as is SO common in propositions of this kind. The present plan, hey point out calls for the spending of every dollar subscribed in the building Of the hotel itself and in the improvement of the grouncs. The value of the common stock. part of which is to be offered as bonus Co the operating hotel com pany. will have a value only through The actual profitable operation of the hotel.
 Enthusiastic Meetings
 Attended with enthusiasm, several meetings were held yesterday at the chamber Of commerce at which were present business men deeply interested in the successful conclusion of this new project the financing of "The Arizona" the new tourist hotel.
 The value Co the business of the Salt River valley of having a tourist hotel of the highest class in operation within three miles of Phoenix and housing for several months each year hundreds of wealthy tourists has long been recognized. these men insisted and they agreed that not until the present time had the people of this city and vicinity had a real opportunity to create such a condition.
 Tn addition 10 the innumerable ad- Vantages ot the hotel. they stated. tho investment in the preferred stock of the Salt River Valley Hotel company gives the investor Q unique security on account or the manner in which the board Of directors and incorporation of tho company have drawn up the articles of incorporation.
 The indebtedness of the companv is limited to Sl00.000 in any one year which indebtedness cannot be increased except by the vote Of the majority of tse outstanding preferred stock. h addition to this. there is a clause stat ing that the articles cannot be amende, except by consent of the majority o' the preferred stock outstanding.
 Asks First Reservation
 The first reservation for the new hotel The Arizona" has been made Almost before inc ink was dry on th, edition of tho paper which publishe, the announcement of the new hotel here came William H. Day. IT,. wealthy resident of Dubuque. Iowa ii an effort to be the first one 10 mak reservations for it's opening in th coming autumn.
 Mir. Day stated that he not onr wished to reserve accommodations ii one of the bungalows for three months but he also asked that the compan reserve several others for his friend who. he said, would be more than anN ious to spend their winters in Phoenf with tirc assurance Of a high clas hotel and bungalows to meet thei needs.