The log cabin Democrat., 1920-03-06
DECIDE 10 ERECT
 SPLENDID HOTEL
10 SELL SHARES OF STOCK
Commercial Club Committee Sets Min imum at $10O,OO0 for Co.,
 Public to Subscribe

Formation of a stock company with capital between $100,000 and $150,- 900 was decided upon by the Conway Commercial Club committee as the way to he used in erecting the much needed hotel. The committee met Fri day afternoon with Lex B. Davis of Memphis, and this plan w~s decided upon. Stock will be sold yo the pu lie, and sales will be in charte of the committee, composed of C. E. Durham, G. L. Banner ana Arthur Bradley. Mir. Davis and Tom Davis. president of the club, will also take part in the sales campaign.
 Plans for the structure and other details of the enterprise will not be undertaken until the sale of stock jus tifes, it was said. The committee con- sidered $10o,000 as the minimum amount with which the hotel could be started, and is hopeful of securing the sale of $159,00G, which would en- able the construction of larger and more commodious building Mr. Da- wis, who is a representative of John Wade X Company. well known Mem phis firm, will be the chief salesman. The committee voted to give him five per cent of the sales as his comms- sion. Mr. Davis is neither a hotel man or a promoter, his interest in the hotel proposal coming from his real 1 ization of the need of a modern hos telry here, and his interest in the city which was formed during his stu dent days at Hendrix.
 Stock in the hotel company will be offered to the public upon 25 per cent cash payments of the total amounts subscribed and the balance on terms. As the enterprise is purely a local one, it is felt that the bulk of the stock must necessarily be sold in Con- way. However, the sale of stock will be upon a strictly commercial basis, being offered as a bona fde investment with the expectation of dividends re- paying subscribers for the use of their money. This point, together with the well known public spirit of Conway's entire citizenship, is count ed upon by the committee to make sale of the stock matter of only few days. The sales campaign will be started as soon as possible, probably next week.
 II. L. Remmel president of the Bank CTS Trust Company, little Rock, is a booster of the Conway hotel, and has already pledged the purchase of s1.- coo of stock in the company. MT. Remmel has been a visitor in Con- way several times, and has advocated the erection of a hotel here as a busi- ness proposition, aside from it's civic aspects. He is head of probably the fastest growing banking institution in Little Rock. Another source from which MT. Davis expects subscrip- tons to the enterprise is the travelling men who make this territory. Mr. Davis said that several commercial travellers have told him they would take stock in hotel company at Con way. and a part of his duties in the sales campaign will be to see this class of prospects. The travelling men who make Conway are all enthusiastic about tha hotel, and subscriptions from this source may reach q considerable total
 As ted ty Mr. Davis to the Com mercial Club at it's banquet on Thurs
 av right. between f5 and 125 traveline sale meg arc in Conwav every day, taking good care. however, to leave before nigs~ With adequate hotel facilities, thov would remain here for longer periods of time. and an addition 70 thc'r patronage would be the prac- tice of spending the week end in Con, way instead of Little Rock. Another class of patronage which Mr Davis Hrophosied would come to the new ho- tel would be the relatives of students here. Under present conditions rel atVes of the student population do not spend r'""h ''r'e in Ccrwqv. condi- ton which Nr Davis says would he changed by the addition of first class hotel to the advantages the city al ready offers
 Don't neglect signals of distress in