The news scimitar. (Memphis, Tenn.) 1907-1926, 1919-09-30
DOCTORS TO BUILD
BIG SKYSCRAPER AT
COURT AND THIRD

The site for the History $1,000, 900
office building which the Doctors
Building company. OF Memphis, pro.
poses TO erect has been determined
upon and an option has been secured
Tor the purchase OF the property, To-
Gated at the southwest corner Of Court
avenue and Third street, for the sum
OF 100000, II was announced Tuesday
by Justine II, Towner, who pending the
return OF the company's charter Is
acting as chairuan OF the committee
promoting the project, The property
belongs to the Lee estate and is liSm
feet square, The charter for the com-
pany IL expected daily and as soon AZ
Y arrives there win bo meeting OF
the subscribers OF stock to elect off
Gers and directors.
"The erection OF the doctors build
ing now IL assured" DR. Towner said,
"The problems OF financing the build
ing have all been satisfactorily arr
ranged, and many unsolicited applica.
tons for stock and for the bonds OF
the company rs well ~ for office re-
servation In the building, prove the
great need for such building here"
he said,
The building will cover ground
space Of jag feet fronting on . Court
II win be II stories high, and will have
about 500 rooma, Arrangements have
been made Tor tho disposal Of the part
OK the properly not 10 be used for the
building fAsent iadlcMtionH ATE that
all office Ese Will hc reserved hefere
The NV build y can be completed Dr.
II Is proposed to make the building
a strictly professional mems building:
with special consideration being paid
70 the requirements OF the medical and
dental professions, II viii bo divided
In suites TO be arranged for the needs
Of each Individual tenant and viii be
provided with every modern conven-
fence. There will he assembly rooms for
the free use OF the tenants, and a spe-
cial elevator entrance for the use OF the
doctors so that patients may be receiv-
ed by ambulance. Tho needs OF other
professions will be provided for In a
thoroughgoinE manner,
The first floor will be devoted largely
to business uses. applications for all
ground floor space already having been
received One Of the leading drug firms
Of the city will occupy ono OF the busi-
ness rooms, II Ia said.
The building committed composed OF
Dr. M. Gotman, Or, Elby ID. Martin
and Charles g. Smith, Ia preparing now
to take up the matter OF building de-
signs with architects,
A recent report OF the finance COM
mittee,e composed OF Drs. Edwin D,
watkins. John ], ogden and John L.
Jelks, indicated that the S2S0,000 com
mon stock of the company would be
oversubscribed by the professional men
OF the city there being $50 physicians
and dentists alone In the city, The
preferred stock and the bonds issued
will meet most favorable market, II
Is said.
Tho executive committee In charge
Of the preliminary organization work
Is composed Of Drs. Frank d. Smythe,
Ebert w Taylor and Willis G, Camp
bell Dr. Towner II chairman and Mr.,
Smith Is secretary OF the executive
committee.
The location selected for the build
Ing Is considered a most desirable one,
and II In proposed to make the struc-
ture one OF the handsomest office
buildings In the city.
A committee is now preparing pros
pectus OF the building for use in the
sale Of stock and the leasing of office
0nn