The Washington herald., 1922-08-20
SALE0F WALKER
HOTEL STOCK IS
NOW UNDER WAY
Corporations Report for
Week Shows Security
Finding Favor.
SPELLS SUCCESS
Local Investors Taking Blocks
OF Substantial
Amounts.
SPELLS SUCCESS

The first week has witnessed the
sale of a substantial amount of
the s750.O00 offering of per cent
cumulative participating preferred
stock of the Walker Hotel Corpora
tfon. according to an announcement
made at the company's Offices in the
SSouthern Building yesterday.
Officers and directors of the COM
pany are highly gratified over the
enthusiastic reception that has been
given this security and the tre-
mendous general interest in the
great hotel enterprise.
1t Is stated that large stock
reservations have been taken by
local investors. who have entered
their subscriptions without solicita-
tion. and that the success of the
offering is now assured.
Throughout the city generally
the Hotel Walker enterprise is re-
garded as being very necessary to
Washington. Public spirited citi-
zens have banded together and as
sured splendid auditorium for
Washington. 1t is believed that. it
Is possible to make this city the
foremost convention place in Amer
lea. and that only sufficient and
suitable hotel accommodations are
necessary.
Hotel walker, with over 1000
rooms. will do much toward supply
ing the necessary accommodations.
Some very interesting facts re-
garding Washington are brought
out in the information divulged by
the Walker Hotel Corporation.
1t is cited that during the past
twenty-five years Washington has
suffered little through every panic
that has gripped the nation. Prop
erty values here have remained
stable and conditions have been
affected only in mild degree. a fact
which has drawn to this city mill
lions of dollars of Insurance and
trust company funds for loans on
real estate.
The company further calls atten-
ton to the fact that washington's
income tax payments increased
s350.00o in 1920 when the remainder
of the nation showed a decrease of
s1s5.000, 900.
Though census figures show the
city's population to be 437, 900. great
numbers of oficial Washington.
claiming residence In their home
States, are not counted, nor are
many thousands living in Maryland
and Virginia. who do business in
Washington. These would raise the
total to well over the half million
mark. 1t is shown that Washington
has gained, not lost in population
since the war.
The company cites other interest
ing points to show the city's
growth. and its future- 1t calls at
tention to the great number of busi-
ness, social and political organiza-
tions that are establishing head
quarters here and maintaining large
STATS, to the influx of large NUM-
bers of business and professional
men on business with Congress.
various bureaus and departments.
1t is further called to mind that
each Washington social season at
tracts larger numbers to this city
and that -many retired men and
women of wealth are constantly
coming to the Capital as a pleasant
place to live. a proper environment
for their families and a most de-
sirable place to educate their chill
dren.
These things. the growing great
ness Of Washington. and the con-
stantly increasing values in the
Connecticut avenue section. together
with the real need for a hotel the
equal IL not superior to any In the
land, are important in connection
with investment in the hotel enter
prises. and in a way. aside from the
urge of civic spirit, they account
for the large reservations of stock
In the company.