The news scimitar. (Memphis, Tenn.) 1907-1926, 1920-01-24
c. OF c. BACK OF
new 100000
HOTEL IN MEMPHIS
Teams From Chamber Will Aid
in Sale of $3.50, 900 Stock.
General Meeting of Cham
Der Will Be Held.

Teams from the membership Of the
Chamber OF Commerce viii aid in the
sale Of $750OoO of stock in the new
Sl,5o0 900 hotel which the Tri-State
Hotel Building company will build in
Memphis this year
The Chamber OF Commerce. through
unanimous vote of the board OF direc-
tors, Endorsed the plans of the hotel
building company. after they had been
approved by a similar vote Of the con-
vehtion section, which worked all last
year In an effort to interest capital IN
such building.
A general meeting Of the membership
of the Chamber OF Commerce was
called Friday night by W. II. Fitz-
Hugh. the president. after such a meet
ing had been decided upon by the direc-
tors. However. owing to the order pro-
hlbittng public assemblages, issued by
Mayor Paine Saturday, the call for the
general meeting was Cancelled. II will
be held after the ban against public
meetings is lifted.
A meeting of the executive commit
tee OF the hotel company, on which
there are five members of the conven-
ton section, headed by the chairman,
ii. r. Chears, with five Of the incor-
porators Of the building company, head
ed by John 7. Walsh, the president.
was held Friday afternoon, at. which it
was decided to open the sale Of stock
to the public Monday morning.
The teams, however. will not begin
their work until after the general
meeting mentioned above. The meet
ing will be held. because of opposition
which has developed to the building of
another hotel from men connected with
the largest hotel operating company in
the city.
1t was decided that the entire mem
bershlp of the Chamber of Commerce
should be given an opportunity to learn
every detail of the building plans and
the reasons that led the directors to so
cordially indorse them,
These reasons already have been
stated in newspaper articles and ad-
Vertisements. The convention section
found more than year ago that 1t was
useless to attempt to bring any con-
ventions to Memphis as delegates could
find no hotel rooms in which to live.
An average of 100 persons every week
last year could not find accommoda
ton at any of the first-c class hotels
and were compelled to find rooms in
cheap rooming houses. Therefore, II.
k. Chears, the chairman, and the other
members of the convention section, find
ing 1t impossible to interest outside
capital in any hotel project, persuaded
the gentlemen interested in the new
AlVtVl " OiA1A sc IllCD pans, "ilNi COh-
templated a Bedroom hotel, to a plan
for a $1,500,000 building of the first
class and most modern equipment with
4S8 guest rooms The plan was worked
out in detail and accepted by the con-
ventton section and was then referred
to the directors who Endorsed it by d
unanimous vote.
No effort has been made to sell any
portion of the $75O000 of stock to be
issued, but the incorporators themselves
headed by John T. Walsh, have sub
scribed to $135, 000 They and their
associates will take probably in all
100000 or more. The remainder will
be offered as an attractive, safe in
vestment to business men of Memphis.
The remainder of the funds needed for
the building will be secured upon a
bond issue of $750,000.
The site will be that OF the old Ar
lington, which is under option to the
building company at $4,000, which is
$4,000 less than the recent state APP
praisal for assessment purposes. The
adjoining lot to the south is under OPP
ton at $4,000,
Subscription to the stock was to have
been opened Monday morning, but the
public subscription will probably be de-
ferred until after Tuesday nights meet
ing, which Mr.. FitzHugh in a personal
letter will urge every member Of the
chamber to attend