The Topeka state journal. [volume] (Topeka, Kansas) 1892-1980, 1921-05-26
FORM HOTEL PLAN
Chamber of Commerce Direc-
tors to Start Action at Once.
Consider Report of Special
Committee Today.
SUGGEST ITS ROOM HOTEL
Finance Plan Is Arranged by
Clearing House.
To Appoint Temporary Direc-
tors to Start Project.
SUGGEST ITS ROOM HOTEL


This was decided finally today at
noon by the members of the board of
directors of the Chamber of Com
merce, after data collected, since Janu-
ary 26 had bee read and the in
vestigations verified.
Stock will be sold, both common
and preferred and action will be
taken Immediately to put the project
into operation.
@. of c. Directors Make Statement
The following statement was issued
today after a special meeting of the
BOARD of directors of the Chamber of
Commerce had considered the reports
and recommendations of the Topeka
Clearing House association committee.
AN investigation has been under
way since January &c concerning a
new hotel in Topeka. Believing that
| it should not be started until every
effort had been made to assure a hotel
of the right size, surrounded with ev-
| cry measure of financial safety that
could be, dinner was held in Janu-
| ary attended by the presidents of all
| the banks in the city. Later, a COM
| Clearing House and seven by the
president of the Chamber of Com
merce- Several meetings were held
and a subcommittee was then ap-
pointed to make the actual investiga--
ton.
! THE main committee consisted of
J. r. Burrow, F. w. Freeman, S. E.
Cobb, George W. Snyder, H. G. West,
o. B. Cutler, E. H. Crosby, Henry A.
Auerbach, H. L. Hall, ]. S. Dean and
]. c. Emahizer.
The subcommittee consisted of
Fred W. Freeman, chairman; H. L.
| Hall, H. G. West, Geo. w. Snyder H.
L. Hall, E. H. Crosby, and J. S. Dean.
| This sub committee worked for weeks.
They called before them separately
| vi of q
tel company, of Chicago, the greatest
| concern in the country exclusively en-
4 gagged in the construction of hotels;
| Mr. J. W. Wiser, of Shepard & Wiser,
and hotel operators. An exhaustive
survey was conducted into the bust
ness done the past two years by ho-
tells here.
The Committee Report
1.-The committee reports show:
| First, that a hotel is needed here
and can make money.
| Second, that it can be so con-
structed to return 6 per cent net to
the investor, above taxes, insurance,
repairs and depreciation.
| "a long time lease, secured by the
! furniture of the hotel, which will be
put in by the lessee and which would
cost from $4,000 to 100000 guaran-
teeing such a return, can be made.
THE common and preferred stock
alike should earn 6 per cent, no more
and no less. 1t was believed that
those who had peculiar interest in
a hotel, other than the general COM
munity interest, should subscribe to
the common stock. SO that it would
serve as a cushion for the preferred.
That is, if an unexpected loss oc-
Cured, it would fall on the holders of
the common, and they in turn would
benefit by an unexpected profit.
| TT is believed that those who buy
the stock should say where the hotel
should be located, determine the eX-
act size, who should build it, and what
it should be named. 1t will be neces-
incorporators. These will be selected
by the Chamber of Commerce, and
their designations will be in the hands
of the president as soon as the stock
is subscribed and the stockholders
| elect directors the temporary directors
will resign. In the meantime, they
will agree not to choose a site, nor
let the contract nor name the hotel.
1.-The extensive work done by the
! committee makes this certain: To
peka should either build this hotel, OF
forget the whole proposition. 1t Is
believed that this is financially
sound
Committee Suggests Specifications.
Complete recommendation as to the
type of hotel which should be built
and the manner in which the project
: should be financed, are included IL
the repor, of the Clearing House asso
cations sub committee, given below
: your committee. named at the re
; quest of the president of the Topeka
= Chamber of Commerce for the purpost
of investigating the local hotel situa'
4 ton, tn determine the imm ediate need
s for increased facilities and to recon-
e mend a feasible plan for locating anC
i financing the construction of a new
= and modern hotel of adequate size
V beg leave to report:
e That Citizens. interviewed. favo
s the proposal and almost unanimousl!
promise financial support.
THAT: The present hotel owner
and operators favor the addition of
e hotel of such character and size as will
a attract patrons to our city and perm1
s profitable operation.
That: Conditions seem to warran
n the construction of a new hotel con
y tanning ITS guest rooms with reason
able provision for lobby, dining an,
assembly rooms and for other publ
Iuses: 20 to Is per cent guest room
with baths, balance toilets or station
larry wash bowls, or both.
: THAT: Main or ground floor shoul
be constructed to produce maximum
Isub-rents.
THAT: Building should be locate,
u u on a corner on Kansas avenue betwee
= 4th and 10th streets, and occup
Il ground space not less than seventy
five, nor more than 100 feet on Kan
y sas avenue. by $50 on other side stree
y That: Construction must be fire
IL proof and of the best materials, an,
o of such strength that at least tw
II storf es may be added.
That: Plans. specifications, an,
: supervision must be by and under
d competent hotel architect, and hav
IS approval of hotel lessees as well as di
ID rectors of the owner company
sr That: Competent architects ca
r. (Ccntinued on Page SKI