The daily star-mirror., 1922-07-31
LOCAL ASSOCIATION
7OlMARkET BONDS
EDUCATIONAL INSTITUTION
TO DEVELOP

mitOries for the use of the Univers
ity of Idaho within the next twelv
months are under way this Afternoon
at meeting of Moscow business men
called by Chris Hagan, president O.
the chamber of commerce. 1t is tht
hope Of the business men that through
the organization and incorporation 0.
building association, not profit
sharing, they may be able to marke
through regular channels sufficient
issue of bonds to finance the erect
ion of one of these dormitories dur
ing the coming fall, to provide accom-
odations at the earliest possible mo-
ment for the large additional enroll
ment Of university girls. The second
dormitory, intended for the use OF
boys, is planned for next summer, SO
as to be ready for occupancy year
from this December.
A representative gathering of the
citizens Of Moscow was present at this
preliminary meeting. All present
seemed deeply impressed by the grow
ing needs of the university and en-
thuSiastic-~ over this opportunity or
meeting those needs through the mar
keting of bonds which will attract
investors generally. 1t is expected
that these bonds will be guaranteed
not only by the usual mortgage upon
the property, but also by some form
of agreement with the university re-
gents to lease this property for def
mite term of years at a figure which
will ultimately clear up both interest
and principal and make the buildings
kho v,roportu of tho 11uiuoroifu
Before proceeding to the prelimin-
ary organizations of the association
the citizens listened to a detailed pre-
sentation of the growing needs Of the
university by President A. H. Upham,
after which a number Of those pres
ent spoke briefly in favor of the i'm
mediate establishment Of the necess-
ary organization to authorize and
dispose of the bond issue and under
take the erection of the buildings. Ne
Sgotiations will be begun Immediately
with some Of the representative bond
houses of the northwest looking to
the tissue and sale of bonds. Plans
are already under way for an early
meeting of the board of regents, at
which the necessary agreement with
the association may be drawn up and
signed
Growth of School Surprises
The enrolment and figures present
ed by President Upham proved a sur
prise even to the citizens Of Moscow
familiar as they are with the life and
activities on university hill. Pres
ddent Upham said in part:
"It seems unnecessary among our
Immediate friends and neignbors to
call attention once more to the ever
present problem produced by cur ra p
idly increasing attendance at the Uni
versity of Idaho. The very fact Ut our
being so close at hand, however, tends
to make us assume all too readily that
further increase in numbers will be
taken care of somehow as such in
.creases have been taken care Of in the
past, so that we need definite figurees
now and then to drive home to each
and every mind what we have to
worry about day after day on the nil.
/ present these figures fully consc-
iOus of the immense amount of help
the citizens Of Moscow lave given
the university in the last few years
in providing funds to finance numer-
Gus extensions Of our housing fac1l1-
ties. Every one Of our several at
tractive new fraternity houses owes
its existence to the Investment Of
Moscow money, which the investor
would gladly have employed in his
own business Lindley hail, repre- |
senting as it does the investment Of
nearly 100000 OF Moscow money,
a genuine sacrifice on the part
of number of you people who no
doubt have needed those funds many
times during the business depression.
am just as sure, however, that you
are willing to do still more to help
us meet our present necessity and
am happy indeed in the thought that
q way may be found to handle the
present situation with comparative
Iy small inroad upon local capital.
Before proceeding to a discussion
Of plans, I should like to rehearse
again some facts and figures repre-
senting our problem. My experience !;
over the state convinces me that the
University of Idaho has advanced i'm
during the last few years In
The esteem of our people in every sec
lion of the state A few years ago
his was the University of Moscow,
.hought Of generally as comparable IN
Iize and importance with the normal
schools and with other institutions
which were defended and fought for
It each legislative session by the citi-
sens of their particular communities.
Now, l feel sure, the idea sthOrOugh-
y established throughout the state
hat this is the University OF Idaho,
he pinnacle of the state educational
Iystem and the pride Of every county
md community in the commonwealth
"Coincident with the growth of this
ceiling has come fairly steady but
marked increase in our enrolment,
in the number of our
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