Evening star., 1921-12-18
MAS0NS TO DECIDE
TEMPLE ERECTION
Expect Finance Committee to
Make Definite Announce
ment Wednesday Night.


From a report of the finance COM
mittee of the general committee OF
| the Grand Lodge OF Masons OF the
District of Columbia which is to be
made at the annual session Wednes-
| day night, it is expected will be made
an announcement, whether or not the
erection of the proposed new United
Masonic Temple here will be carried
out.
Matters pertaining to the erection of
the proposed structure, which have
been in the hands of the Grand Lodge
committee for more than year, and
are now assuming definite shape. were
presented at the last meeting OF the
general committee, at which all inter-
detailed plan of procedure was laid
down and the project presented IN con-
crete form.
Finance Committee.
The finance committee. of the gen.
eral committee, which is to make the
report at the annual session consists
of Eugene Thompson, chairman; w.
liam T. Galliher, William F. Guide,
Carter B. Keene, William Mont
gomery. Edward s. Brashears and
Gratz E. Dunkum.
The cost of construction of the pro-
posed building, according to the
is based on the cubical contents of
the building, at SO cents per cubic
foot of space, as indicated by each of
the bodies to be accommodated for
their requirements. In estimating the
space needed each of the bodies has
included banquet hall and kitchen
space, etc. and the figures presented
to the committee are as follows:
Estimated Space.
Blue lodges. $4,000 cubic feet; Royal
Arch chapters and commentaries.
$4,000 cubic feet: Order of the East
ern Star, 755,O00 cubic feet: Masonic
clubs, 100000 cubic feet; Shrine. 375.-
600 cubic feet; Grotto: 262.5o0 cubic
feet; Scottish Rite. 100000 cubic
feet; total for all bodies, 5.277.50O
cubic feet; auditorium, 6,277,500 cubic
feet.
In some cases. it ia stated. how
ever, that more space has been esti-
mated than would actually be needed,
and any reduction in the foregoing
estimated requirements would mean
a corresponding reduction in the cost
Of construction. The cost OF the
land upon which to erect the building
has been estimated at $750.000. and
the cost of furnishings at $250.OO0.
1t is proposed to raise the neces-
sary money by the sale of two classes
Of stock, namely. preferred non-vot-
ing shares to individual members of
the fraternity. and common or vot-
ing shares to the organized Masonic
and collateral bodies.
No estimate was made for the MEM
bership of the Masonic clubs. but it
is said they will Join in the enter
prise on the same basis as the other
Masonic bodies.
Cost Of Temple.
Based on a cost of $2.500,000. it is
estimated that the annual expenses
Of the temple would be as follows:
interest, $150.000; repairs and taxes.
$4,000; running expenses, $275,000.
Rental for space in the proposed
basis OF 10 per cent of the rort "e
construction OF the space requested
by each organization, exclusive of
land and furnishings. being paid by
the several bodies now occupying the
present temple approximates ten
definite figures can be presented at
this time. the rental of space in the
new building. it fs stated. will be
considerably less than that amount
upon the cubic foot basis. inasmuch
as each body using the temple would
receive 6 per cent dividends from
its holdings of stock.
Sources Of Revenue.
Besides the income to be had from
rental Of space to the various bodies
that will occupy the structure, a care
fully prepared estimate has been sub
mptted. showing additional revenues
from sources other than fraternal
that may be obtained from twenty
weeks use Of the immense auditorium
which is included in the plans for the
temple, amounting to $36S.500. or a
larger sum than has been estimated
as necessary to pay all running ex-
penses and dividends. The auditorium
10 to be at the disposal OF the
Masonic and collateral bodies at q
suitable rental at such times as the
proposed outside activities are not
In progress. The seating capacity is
planned to be $500,
It is proposed, in the event that no
mortgage is placed upon the property,
there be created a sinking fund OF 50
per cent of all net earnings after
the payment Of operating expenses,
taxes. repairs and dividends, said fund
to be used to purchase the preferred
stock in the open market. at a price
plus whatever premium may be de-
cided on and accrued dividends. In
the event that preferred stock cannot
be purchased the accrued amounts in
the sinking fund are to be invested
in high grade securities. The idea
in proposing to repurchase the pre-
ferred stock is that eventually the
ownership and entire profits Of the
enterprise shall be in the hands of
the holders Of the common stock
that is. the organized Masonic and
collateral bodies.
Plans for the proposed new temple
have been drawn by Frank Russell