The evening herald. [volume] (Albuquerque, New Mexico) 1914-1922, 1921-12-04
A Remarkable Achievement
land An Urgent Duty

XV ARIY in the prsent year a noteworthy evidence of community loyalty
and public spirit was given by a large number of the people of Abur
ot a parallel for severity, some 625 individuals, firms and corpora
hbas in this city subscribed for a total of 100000 of the stock of the
were made because the need for a modern hotel was recognized by all. AL
though the stock was then and is now recognized by conservative business men
menf, at chat time because all the funds of Albuquerque people were needed in
the conduct of their ordinary business activities The subscriptions were made
for the welfare Of AIbuqueT9ue, in a me spsrt OF community cooperation, to
meet a public need that could lot be long deferred.
derakng and its members pledged themselves to see it through. They quickly
rallied to their support the Chamber of Commerce. the Rotary club and bust
ness and property interests both large and small. All appreciated the merit of
the project and the necessity tor Its accomplishment.
project because this course placed it upon a business basis insured careful adj
minisrstion and the most speedy and efficient construction and operation.
qThee were many who felt that the undertaking should be delayed until bet
duced the remarkable result of 100000 of subscriptions, out of a total of
S350O0O required
qThe campaign was temporarily suspended, after the 100000 mark had been
reached, for these reasons:
qFira; it became evident to the hotel workers that there were many
Albuquerque citizens who greatly desired to participate in the pro-
jet but who, at that time, did not see their way to do 10 because of
uncertainties of the existing business situation. Men did not care
to pledge themselves for wen small amounts while unable to fore
tell what the coming day, week pr month would bring forth nt the
way of demands upon their resources
qSecond; it vas important that the site be determined upon and
that the hotel company have al opportunity 20 study the project
from every angle SO that the hotel would not be built o. toe large
or too small a scale; also that attention and investigation be given
to the matter of operation, by whom and upo what terms; to the
end that the interests Of the stockholders might be adequately
safeguarded and the complete success of the hotel assured.
g1he site for the hotel at Sixth street and Central avenue, has been purchased
and paid for; additional o bonus stock, having been subscribed by response
bic property owners to al amount $4,000 in excess OF the total purchase price
Git has been ascertained, after extended conferences with experienced hotel
operators, that the building az ongntly planned is practical in every way from
al operating standpoint; that it is neither too large nr too small for the con
muntys need from day to day, and that ise erection will involve a total outlay,
including the site, of approximately $35OOOO.
git has been ascetained that there is a active demand for the operating lease
of the hotel by practical hotel mn who have been successful elsewhere and
who see in Albuquerque community hotel project a favorable opportunity fr