The independent. [volume] (Elizabeth City, N.C.) 1908-1936, 1928-01-20

hotel opened on Nov. /. In (
| SQ,0l7.92.
In 30 days the hotel Of 100 rooms
took in $l1.63625; its operating eX-
pcn>cS amounted 10 $l0.T43.02. Stop
there and you find Il profit of 1892.
:3S33. But wait a minute; we haven't
counted an administrative expense
of $Ii62C6 interest on the build
ing investment amounting to 81
9S2 q depreciation charge of
)! .922T3 say nothing Of insurance
aud other items. Figured up by
Harry Bundy uf the audit firm OF
\ Lee Rawlings 4 Co. it all revealed
loss of nearly $4,000.
Did the stockholders fall ont of
their chairs? No. Most of them
were frozen to stiff to fall. They
lust sat numb-aud dumb.
But they thawed out and warm
ed up before the evenin. was over.
voted their appreciation of and
confidence in the directors. re-
elected every member of the board
who would stand for reelection and
adjourned with pride in the enter
prise and confidence in the ability
of the best business minds in Eliz-
aheth City 10 make the Virginia
bare 4 satisfactory investment.
! Ii costs Il lot Of money 10 open
hotel: there are many extra eX-
renSe< incident To opening. And the
hotel opened in an off season; Nov
Cmhcr and December are two of the
worst hotel months in the year.
| business was bad those two months.
! I'm December the rooms were only
% per cent occupied. This month
! they are :s3 PER cent occupied. Bu>i-
ness is picking up. Also expenses
have been considerably .re'luced.s
And then mast of The sstnras-aai-
offices frCm which the hotel expects
/ to derive much revenue have not
been rented yet. Space in new
! buildings does not find occupants
right away. The Kramer Hulldln"
! had 10 wait for tenants in its day {;
SO did the Hinton Building. But
alreatIy there are desirable tenants
| i'm Sf"ht for most Of the space i'll the
] hotel arcade annex.
Figures show much loss. IN the
operation of both coffee shop and
a main dining rqom;. They started
OF .with TWO fpmBlete''c1rws f"r
both; lot Of that expense has "ccn
cut down. Many guests 10 out ot
thp hotel 10 eat IN Sunday 10 avoid
having $50 for the Sunday dinner.
The price of that dinner i< going to
lr cut 10 dollar. There Is more
money in serving 9OO dinners ut
Sl.CU Il plate than in serving - AT
S1.JO Il plate. The Virginia Dare
served only - $50 dinners last
Sunday.
Hotel Can BE Leased
Several chain hotel operators. IN
Guiding the Bland interests OF KAT
ei~h and Greensboro want "a lease
the Virginia Dare: they are Wiling
to rav 6 pcr cent on the hotel in
IycS,ment. leaving the hotel company
the arcade and garage on which 10
make profit. But it WAS the sense
or the Stockholders that the hotel
Should continue under its present
management
! G. q. Robinson. president "f the
hotel corporation. who has given the
greater part Of his time ami spent Il
Io, of his personal funds during inc
.r.ost wear i'm looking after the IN
tcrrSt of the stockholders. had "X'
pcctrJ to resign Monday night. For
wear hc had given the greater
part Of his time 10 the hOtcI, 10 the
neglect Of his personal interests
He wanted to bc free. But with 4
deficit of $9.9l7.12 and serious work
: to lr. done 10 keep from losing more
: mCurv TO the stockholders. Mr.
Robinson never presented his reSiS
p u,tinu The stockholders wanted
= him to carry on and he VIII give
his services to the hotel another
= year.
Il The directors elected Monda!
/. night were: e. o. Robinson }. W
: Fnrcman. W. Il. Love. Sr., Ia. I
t Blades. II. G.. Kramer, W. q. Gath
: or. J. Il .McCabe. L.. X. Foreman
. J. G.. Il. EhringhauS, Elisha Copper
smith, W. J. WOUdley, w. L. Cul
4 peppcr. ". \. Worth and 5. III. John
son. The only two new members OF
the board are MeSsrs. Worth an'
/ Johnson who were elected TO succeed
VI. L. GallOp and .. +. Gilbert.
More Mopey 10 Borrow
f After collecting S31G 2J3.Oo II
= stock subscriptions and after reallZ
G in- on a $2OO.O00 first mortgas
L loan from the Metropolitan Life In
t surance Co. the hotel company SUI
d owes Il little more than Sl0O.OW o.
: its inveStmeuC. The stakeholder
/ voted Monday night for the director
. pla-e = .us0nd -1crtgaze on II