The Indianapolis times. [volume] (Indianapolis [Ind.]) 1922-1965, 1928-01-25
DELAYS
CHOOSING SITE
FOR COLISEUM
Three-Hour Heated Debate
Waged on Slack Advice
to Defer Decision.
HUGE EXPENSE CITED
Mayor Thinks Finances of
City viii Be Better
in Near Future.

Selection Of municipal coliseum
site was postponed by the coliseum
board, after three hours heated dis
cussion of Mayor L. Ert Stacks
recommendation to defer decision,
Tuesday afternoon.
Final decision on the three re-
manning sites was scheduled for
Tuesday but Slack explained to the
board that he and Oren S. Hack,
new works board member, were not
familiar with the boards activities
since September.
Slack reviewed the city's financial
situation, citing that the bonded in
debtedness is about $15,000,000 and
that the general fund is bonded for
more than 100000. The general
fund bond limit is $14,000,O00, he
said.
Cites Huge Expenses
Slack declared several improve
ments in the sanitary, health and
board Of works departments would
require huge expenditures. He cited
the running account of $4,000 for
electric light, heat and water bill
which the city had to meet.
With certain economies inagu-
rated and carried out in various de-
partments," Slack said he expected
the city's financial condition to be
improved in the near future, so that
erection of a coliseum would be
advisable. He said he realized the
need.
81 do not desire to fix time for
beginning the enterprise, but favor
it as soon as our conditions will
permit" said Slack. He indicated
conditions may be improved at the
close Of 1928.
Favor Building by City
Slack and Corporation Counsel
John w. Hoffman indicated they
favored the plan whereby the city
would build the coliseum, instead
Of the proposal under which the
city leases the site to a private
corporation which will erect the
building. The statute provides both
plans.
wherein can we benefit by per-
hitting a private corporation to
erect the building?" asked Holtz-
man.
Julian j. Kiser Of Meyer-Kiser
Bank, which submitted site, ex-
planned the city could protect its
bonded indebtedness under such
plan.
Under the private corporation
plan, the city would pay an added
interest rate to buy the structure
over a thirty-year period, but it
would keep the present bonded in
debtedness down for an emergency"
Kiser declared.
Await Site Selection
Kiser said a group of bankers had
been asked to underwrite the project,
but was waiting on selection of a
site.
j. S. Cruise, realtor, commended
Stacks conservative stand, but
urged that the city forge ahead"
Fred Sillery, real estate dealer,
who has options on the site 'front.'
ing the World War Memorial plaza,
scored the city lighting contract.
"It may be that it is not proper
that the light bills be paid, in view
of the contract which was perpe-
trated on the CITY," he said.
Sillery cited the fact that four
light standards were erected at
street intersections and two OF
them had been tied up like sore
thumbs"
Necessity Is Cited
"a coliseum is as necessary TO a
city as a football team and stadium
are to a college," he said. He
cited Chicago's program to spend
SITS, 100000 for civic improvements,
including a coliseum.
Several speakers, including Presi-
dent j. Edward Krause, Chamber
of Commerce representative, cited
the need for a coliseum to keep
pace" with other cities in the con-
vention field.
''I think it would be sound bust
ness to go ahead now. even though
the city has big bond debt. In
private business we go ahead when
we are in debt.
"Show me a taxless city and I'll
show you graveyard. do not
think things are unhealthy"
Krause declared.
Samuel Ashby, attorney, repre-
senting property owners and the
Central Christian church, protested
the closing of Ft. Wayne Ave-, con-
templated in connection with the
plaza site.
Wants Municipal Center
Walter T. White, realtor, urged
building Of municipal center near
city hall.
Statement Of Slack that "my at
tention has been called to an ad-
location downtown which
could be obtained $250,000 cheaper"
gave rise to the belief that new 10
cations may be considered.
The board some time ago elimi-
mated all twenty sites except these
three:
Alabama, New Jersey, Ohio and
st., submitted by Meyer
Kiser Realty Company.
Vermont, New York, Alabama and
New Jersey SITS, by j. S. Cruise Com
pany.
Pennsylvania, Delaware, North
and Walnut StS., facing the Indiana
World War Memorial Plaza, sub
mitted by Fred H. Sillery.