The Lakeland evening telegram. (Lakeland, Fla.) 1911-1922, 1922-06-27
EleHT-sToeY HOTEL
PROJECT is LAUNCHED
Continued from Page H.

In agreeing to buy 20 per cent of
the hotel bonds, the Adair Realty Com
pany includes in the cost the archi-
tects fees and the interest on the
money during construction. The price
offered is the same as or better than
can be secured for bonds on a similar
enterprise in New York, Washington
or Chicago, and better than has been
secured by certain other communities
in the state. In addition to this, the
Is to 90 prospective lessees have eX-
pressed a willingness to buy stock in
the hotel, and to agree to an arrange
by which the lessee gets no profit I'M
til the net yearly earnings have re-
turned per cent to the common
stock.
The shares Of 500 each are to be
paid fer Oh the easy ;Crms of $50
down ard SO a month for eight
months. The amount which Lakeland
citizens must buy to secure the hotel
is 100000 The balance of the cost
of the $d15,00O structure vii! be out
side capital.
Mr. Appleyard took occasion to state
further that nobody is getting any
thing out of it," 1t is clean PROPOSE
tion straight through.
There were also figures to show the
probably income of the hotel, or rath-
er to show that the income will prob
ably be beyond expectations.
f. l.. Mack was called upon to state
in his position as president of the
Polk County Trust Company, what he
thinks of the soundness of the propo-
sition, and gave it a straightforward
endorsement.
c. f. Todd one of the city's leading
business men, also spoke few words
for the proposition, and stressed the
point that it is not giving but an
investing proposition.
Only a few minutes were allowed
for the volunteering of subscriptions,
as the teams were to make canvass
today. A. d. Hartsell, w. f. Sneed,
Seth Collins, w. s. Rodgers and A.
r. Carver promptly subscribed five
shares of $500 apiece.
Mr.. Collins later amended his sub
scription by saying he would be one
of ten to subscribe $1,000 apiece.
Temporary Organization
A temporary Hotel association has
been formed with the following Off
GERS: Ben NJ. Pullam, president; A.
II. DeVane. LIST vice-president; A. F.
/ Pickard, 2nd vice-president; f. l..
Mack, Bird vice-president; ]. F. Coun-
ell, 4th vice-president; Chas. p. Zaz
zal treasurer; II. NJ. Phillips secre-
tary: w. w. Chase, c. |. Dwiggins
! Winton Hall. H. NJ. Senior members
of the board of directors. A per
manent organization will be formed
after the stock is sold.
! Teams Of workers are making a
/ canvass of the city in the interest of
| the sale of the necessary amount of
| bonds.
/ Hotel Plans
The plans for the hotel as outlined
at last nights meeting contemplate
an eight-story building containing $50
rooms. The building will be OF hol-
! low tile and concrete construction,
and modern in every respect. The first
! floor will be given over to lobby, din
| ing room, etc. The dining room is
planned to seat 300 people. There will
| be two stores located on the Main
street side. The top story will be
built but left unfinished for the pres
| emit so as to allow room or expansion
as ii becomes necessary.
Teams Soliciting Stock Today
! Selling of the stock is already going
/ forward rapidly. This morning fwen-
ty-three teams of men and women
started out bright and early at nine
o'clock each team bent on selling
more stock than its competitors. Ev-
cry one in Lakeland will be given a
chance to subscribe for stock if he
wishes. This is local proposition,
open to everybody. If the teams that
are out soliciting don't get around to
your door, come into the Chamber Of
Commerce and subscribe for some
stock anyway. 1t is being sold at
$l00 IA share, $40 cash and the balance
in eight equal monthly payments OF
SO each month.
The teams that are on the job today
are rs follows:
&c. II. Bland, Chr.
w. +. Boyer.
-. Y. BenlOrd, Chr
J. h. Boulware.
3-P. f. Collins, Chr
l.. h. Curtis.
I'll. w. Conibear, Chr.
Zerney Barnes.
90. w. Drane, Chr.
H. l.. Collins.
Cd. j. Haldeman, CHR.
II. X. Clonts.
7-E. NJ. Patterson, Chr.
w. l.. Law.
81 V. Stevens, Chr
Miss M. Reynolds.
9-Miss M. Tomlinson, Chr
=. G.. Mitchell.
l0-W. w. Chase, Chr.
III. Il. Melton, Chr.
b. NJ. Pulliam.
l2-B. f. Wilson, Chr.
o. G. Lanphear.
1911. ID. Mendenhall, Chr
DIR. ]. w. Kutrow.
I'm. G. Warning, Chr.
G. |. Dwiggins.
lib. ii. Harnly, Chr
T. M. Phillips.
16-J. r. Weeks, Chr.
Otto Kline.
III. S. Jewett, Chr