Evening star., 1920-05-27
VOTE TOPOSTPONE
CITY CLUB BUILDING
Members Are Unanimous in
Adopting Recommendations
of Two Committees.

RECOMMENDATION that the CITY Ciuo
postpone indefinitely its project for
the building of a clubhouse on the
site now occupied by 1910 to 1920 9
street northwest was approved by
unanimous vote of the club at its
meeting in the large ballroom of the
Willard Hotel last night.
The recommendation, contained in
reports of the finance committee and
the special building committee. cited
costliness and difficulty of financing
the project, cost of materials and Ia
Dor. uncertainty of obtaining supplies,
etc. as reasons for postponement.
The postponement was exclusively
forecast in The Star last Monday
Milton f.. Allies, chairman of the
finance committee, in his report, made
to the board of governors May is and
read 40 the club last night, related
the plan of floating a Arst mortgage
loan of 500. 600 to finance the project,
small local syndicate first being ap-
preached. The syndicate was COM
posed of the American security and
Trust Company. the Washington Loan
and Trust Company, the Union Trust
Company. the National Savings ana
Trust Company and the firm OF
Glover x Flather Two OF these sig
nified their Willingness to undertake
one-hth of the amount each. Dul
failure of the others to support the
plan made il necessary to formulate
d new plan.
Decided to Reduce Amount.
1t was then decided to reduce the
amount to $780, 900. half to be raised
here and the other half in New York.
u vas found, however. that the
Metropolitan Life Insurance Company
of New York. which was asked to
handle one-half the amount. would not
consider such proposition. saying
that it would undertake loan OF
s450.000 on a first mortgage. Tor
term of ten to fifteen years, at per
cent, but would make the loan ony
when the clubhouse was completed
and all liens and other incum oranceS
were cleared off. This. Mr.. Flather
said. would make it necessary to f1oat
an issue of approximately Ss0O.Ooo
second mortgage bonds. to be bought
by club members, and this plan, IL
was felt. was not feasible at this time
Maurice Rosenberg. chairman OF the
special committee. in his report. con-
CURED in the findings of the finance
committee, adding that excessive costs
of building materials. etc., rem
deredka poStponement not only neceS-
sary but good business. as IT was tne
general opinion that such costs would
he lower six months or a year hence.
Would Repair and Rent Buildings.
mendation that the present build
ings on G street be put in repair and
rented for enough to meet carrying
charges.
William GUIDE offered a motion to
adopt and concur in the reports OF
the two committees. An amendment
was offered by Samuel Herrick that
no expenditure be made by the board
of governors for repairs on the 6 /
street buildings without approval OF |
the entire club. After spirited debate
in which John Dolph. Frank j. Hogan
and others took part. Mr.. iierrick's
amendment was voted down and the
motion of MIR. Guide was adopted unani-
mousy.
Following the business session w.
Jett Lauck spoke on some phases Of
profiteering. and offered some sug
gestions for remedying existing con-
ditions.
The entertainment features were by
the Aloysius Quartet, composed of
r. NJ. OsHare. C. j. Reagan, +. A.
Duffy. and T. E. Pyne: operatic- selec-
tions by Miss Gretchen Hood. with
George Wilson at the piano: Luke
j. Fegan, in "A Wee Bit o. Scotch and
the City Club Ladies' Orchestra. A |
buffet supper was served. President
]. A. Whitfield presided.