The Mt. Sterling advocate., 1922-03-02

ton of the committee which has. so
carefully investigated the best
means of financing the project.
The plan that is under way is one
which has had remarkable success
in many cities in the United States
and in every case the funds have
~been raised. The plan cominends it.
self to the committee and business
men because of its definiteness and
straight forward methods.
1t has been decided to raise the
money required through the sale Of
common stock only and to avoid any
bonding or mortgaging of the prop
erty and to build ~;.hin the limit of
the city's ability, thus making it a
substantial and safe investment
for the stockholders. Stock in the
!. new hotel will be sold at $4,000 per
share placing it on basis which the
best managed enterprises of a simi-
lar nature in other cities. The pay
ments on the stock have been con-
veniently arranged over fairly
long period of time which will make
possible for practically every citi-
zen in Mt. Sterling and Montgomery
county to own stock in their own
community hotel.
Several meetings Of citizens have
been held this week and an executive
committee, consisting of several bus
mess, professional and farming men,
is now being organized. This execu-
tive committee will supervise and
direct all the work incident to the
stock sales campaign, which will
take place in the final week of
March.
The executive committee so far
as organized, consists of the follow
ing men:
! A. N. Crooks, M. N. Gay, J. O.
J Greene, A. S. Hart, j. w. Hedden,
Jr., ]. p. Highland, Fl. G. Hoffman,
John A. Judy, A. E. Lawrence, o. w.
Mccormick, c. B. Patterson, c. HI.
Petry, w. X. Prewitt, w. Lois
Thompson, l. F. Tabb, w. T. Tyler,
w. B. White and Ben 7. Wright
The committee has elected j. o.
Greene as the chairman and on
Wednesday night elected John A.
Judy to be chairman of the citizens
committee, which will be a sales
force composed of ninety of Mt.
Sterling's leading boosters. The ex-
ecutive committee feels confident of
the success of the intensive cam
paign now that Mr.. Judy has ac-
cepted this leadership. He in turn
will surround himself with the re-
quired number of leaders necessary
to organize the different divisions
and teams. At a meeting of the
executive committee Monday night |
the following official statement was
issued:
An executive committee of Mount
Sterling and Montgomery county
citizens has been organized for the
purpose of securing for our city,
through the sale of stock, new and
mo&ep hotel adequate to meet the
pre( Sat and growing needs of our
community.
The proposed new hotel will be
built for and by the citizens of MI.
Sterling and Montgomery county.
The project will be entirely com
munity affair, planned to be financ-
ed through the sale of stock with
no bonded or mortgaged indebted
ness to absorb the revenue. The rank
and file of the citizens will be given
an opportunity to purchase stock
during the final week of March.
The par value of the stock will
be 800 per share and the terms of
will be liberal. On all sub
scriptions the subscriber will be per-
mitted to give his note with pay
ments every three months, the last
payment coming due April Is, 1923.
The first payment for twenty per
cent of the total win be due and
payable April Is, 1922. All notes
will be 50 worded that in case the
subscriber desires TO pay for his.
stock sooner than the date Of ma
urity he may do 50. The stock will
,e sold on the principle that it is G
desirable and practical community o
Investment. =
The executive co.amittee entrust- n
d with the sale ef this stock has !. =
considered the rental possibilities Of =
he new hotel and from information I, .
eceived believe that there will be
o difficulty experienced in its rent
l; or II the stockholders so desire,