The Seattle Star Newspaper, January 23, 1924, Page 3

$2,000,000 OLYMPIC HOTEL First Mortgage Leasehold 6% Sinking Fund Gold Bonds Due November 1, 1943 terest (May 1 and November 1) payable at the National Bank of Commerce, Goattle form in Genominat jons of $1, 000 4 $100, regiateradi 23, Redeemable as « who m part, on November 1 b33, at 106 and accrued . oafter at 45% lesen © year to an id > maturity at 100 and acer int ATIONAL BANK OF COMMERCE, SEATTLE, TRUSTER ding these bonds has been summarized by A. 8. Kerry, President of the Community Hotel Corpora # for the purpose of completing The Com Hote! Corporation of Seattle was organized in 1922 and is {xsuing these bo \ everal years and has been the } a thoroughly modern h need for such a hotel has been recognized for objective of men rested in the civic and business development of the clty i . Building. The Olymple Hotel, now undér construction, will be a 13-story, fireproof, class “A” the latest hotel c y an entire block, centra located In the retatl sh i 5 e Leasehold. rickaa, oa gi y the University of Washington rc ber 1, 1964, at an If the ground were owned ted that taxes would be } $150,000 per year gre d rent and present taxes. Tax exemptlc e-owned Un } versity tract has been established by the State Su During the life of the borids will } times the principal amount of the {ssue and each year will be sufficient to nearly cover the First Mor age interest ar | ing fund requirements, By this feature, the monthly room charge of the hotel is reduced by one-half to the exceptionally low 1 figure of $20 per month. } } Management rn» hotel has been leased until October 81, 1954, to the Olympic Hotel Company, which will have a pala up capital of $750,000. This company is a subsidiary of the United Hotels Company of Amorica, which operates the ) largest chain of first-class hotels In North America. Mr. Roy Curruthers, who !s now managing director of the Waldorf Astoria Hotel, "New York City, will act us managing director of the Olympic Hotel when it is completed. Security. crore vonds will be secured, in the opinion of counsel of the Olympic Hotel building and site, The value of the building alone |s approximately 0% of the amount of the First Mortgage Bonds to be issued. No value been placed upon the ¢ aune of the low rental of $25,000 per year and tax exemption features, {t is a decided asset to the Community Hotel Corpor: mm and additional security to the bond. holders. ‘These bonds are followed by about $2,400,000 Second Mortgage Bonds and $270,000 Coramon Stock, owned by more than 3,000 representative citizens and leading business interests of Seattle by an absolute First Mortgage upon the leaseho _ Sinking Fund. The entire issue of First Mortgage Bonds will be retired by maturity through the operation of an z annual sinking fund beginning November 1, 1929, which will retire 1-15 of the issue each year. Bonds will be purchased in ® the open market if obtainable at or below the call price; otherwige they will be redeemed by lot at that price. Estimated Earnings. rn. estimated earnings of the Olymplc HotelCompany have been carefully complied and approved by experienced business men and hotel operators as follows Gross yearly income from hotel rooms (allowing 250% for vacancies) $ 995,355 Gross yearly income from stores, shops, concessions (allowing 10%. for contingencies) 165,420 Gross yearly income from dining and banquet rooms and semi-commercial sources Sescocsestecses 619,000 Total gross income... Total operating expenses, rental and taxes. . Aenea er rmermaanmememarecenneeeet Net earnings ....... ‘The above net earnings are equal to 2.95 times the maximum annual Interest and sinking fund requirements of these First Mortgage Bonds and more than 4.35 times the average annual principal and interest requirements during the life of the loan The Olympic Hotel Company agrees to pay the Community Hotel Corporation an amount equal to all charges, including = taxes and interest and sinking fund requirements on the funded debt, and 25% of net profits after dividends on {ts preferred stock. Such profits in any year may not exceed $17,500 Insurance. rho note: will be insured for an amount equal to 80% of Its insurable value These bonds are offered when, aa and if issued and received by wa. Temporary certificates exchangable for definitive bonds till be dvailable for delivery in the near future. All legal details pertaining to this issue are subject to approvat by Mesers. Peters & Powell, Seattle, : ; Price 934 and Accrued Interest to Yield 6.60% The undersigned banks and investment bankers offer and recommend these bonds for your in- vestment: Blyth, Witter & Co. Dexter Horton National Bank The National Bank of Commerce Carstens & Earles, Inc. The Union National Bank The First National Bank Bond & Goodwin & Tucker, Inc. @ Smith & Strout, Inc. John E. Price & Co. The Metropolitan National Bank Baillargeon, Winslow & Co. G. E. Miller & Company Ferris & Hardgrove Seaboard National Bank Marine National Company Seattle Title Trust Company Lumbermen’s Trust Company Drumheller, Ehrlichman & Co. Wm. D. Perkins & Co. National City Bank The Seattle National Bank Bank of California, N. A. The Canadian Bank of Commerce Information contained in this advertisement has been obtained from reliable sources and, while not guaranteed, is believed by us to be accurate. . PAGE 3 THE GROTE-RANKIN CO) OFTO F KEGEL, President Cynthia Grey: First Cousins in Love — Friend Fears They Wili Marry and Writes for Opinion Dear Miss Gray: I am writing to tell you of an instance (ui in the life of a young man very near and dear to me, and rove } to ask your helpful advice for him. If you can guide him A rightly in this matter I am sure he will be grateful, rhe situation is a simple one, but the solution seems to be difficult. The young man is head over heels in love with a girl one year younger than he, and has been for five years There is absolutely no doubt that he loves her as a man should love the woman he is to marry. And neither is there any doubt that the girl returns his love in the same manner. In fact they have waited these years in order that they might be absolutely sure on that point. There is but one obstacle, and that is a mighty big one The man and the girl are first cousins. Now, Miss Grey, on first thought, you will probably con-| demn these people for allowing such a feeling to grow be- tween them. But you would not had you seen, as I have, how they have tried to break it off; tried to forget each other, and how utterly they have failed, It doesn’t seem that the feeling has grown, but has always been existing be And so finally they have just about decided that God meant them to go thru life together, despite the fact that it will grieve their relatives. They will | probably be married, And I am wondering if they are right Do you think so, Miss Grey? Of course they realize that F Y there can be no children, and they are reconciled to this. 4 or our They also know they must go to another state to be married, a I am going to thank you from the bottom of my heart for the frank and honest answer I know you will give. Kitchen LR. mince FINISHED ; ‘pep oe tay|{ Cynthia Grey will receive call- pity th sung people be-|| ers on Monday, Wednesday and hey tt “iy ads amie from 1 to 2 p. m. and on ia 4 and Thursday from 11 m. at her office in The nda iy nats? Star Bidg., 1309 Seventh ave. go ie aie Be Malleable Range et But if they do|the scheme of things and no love) thing, little doubts and fears)is strong enough to survive tt HE most important part of your kitchen is the t forever haunt them. | Perhaps I cannot say anything f will cause this young man and range— an to alter their course. I only If they marry, they will defy the) ge, that of|¥ tolsh it were within my power, But for of marria —it must be economical Arscadhe Bll : jeri petty the world ts wide and time, new —it must be efficient Idten—no ho is entirely com-|faces, and changing scenes will —it must be good looking The Monarch has all these features and is .pro- nounced by more than 20,000 Seattle housewives as being the most satisfactory range one can buy. Buy a MONARCH now! Ask the housewife who owns one! cithout them. It ts easy for| ork wonders. I hope they will re but| Consider and earnestly look about them for the right solution to their problem jouth to become reconciled; lonely old age begins to ate er them, they will realize the full significance of tt all. And I know ‘| FACE OUSTER. homes. It ts unde miably a Part o of Ben and Lou’ Evans, directors of res! ectively, are again threatened Powerful Influence Over the same. forces which. sought |||—Lncirely ° thelr removal from “offle e differe nt , from 1 any Has Also Proven Remarkably Suc-/at the request of the park board. ther cessful in Severe Cases of The board had requested the civil ou Rheumatic Neu xervice commission to provide a We ashing Wy |"promotional” examination. The James H. Allen suffered for|commission advertised an “original” Machine ra with rheumatism. Many times |examination, which, it-ts feared will ft him helpless |oust the Evans boys, both Seattle jborn and educated, | {ter years of] Kennedy is to rule which type of —Water > one can belexamination, promotional or origi:| (only) free from rheumatism until the ac-|nal, will be given. - jo disease to wor He finally dec a, ceaseless study, that cumulated {mpurities, commonly} a3 ie a, comes called uric acid deposits, were dis-| i olved in t sand muscles and| Five Mesias to m expelled from the body With this idea in mind he consult Disport in Show | °”/act miclans, "ease experiments and): ive girs af tho Madame: Ples with compounded a prescription mbounded ‘a Prescription | private school, who passed the Red kly and completely banished | Cross lifesaving testa this week ar ||] YOU? “da Pracraparphpiess s5 Of rheuma-| scheduled to appear in an indoor| clothes bata: Sybeih. pea |W, cienovery: water carnival later this spring, it | *lwas announced Wednesday. The jWhich he called Allenrhu, to others, cig ranging in age from 10 to| who took it with what might be/7 are: The Misses Lucille and alled marvelous success. After! Verna Satterlee, Doris Greenwood, | years of urging ho decided to let] Ouye McPhail ‘and Helen Balder sufferers everywhere know about hi8' ston. ‘The pageant ‘will be under discovery through the newspapers.;ehe direction of the board of di-| He has therefore instructed drug-| rectors of the lifesaving Corps. gists everywhere to dispense Allen:| Jsxaminers for the ific: e 4 rhu with the understanding that If] were: Annabelle Borst the first pint b does not show) of the board of directors; Clara Puts a the way to complete recovery he willl weber, sect ot the board: and gladly return your money without] sfisy Hazel Chase Electric Washer superior court Tuesday. Fukuoka is omment.—Advertisement board said to have fired four shots at C, In Your Home If Headachy, Bilious, Sick, |7'0.,* recon? Japanese barber, In aj}/ _Washes a tub of laundry—equivalent to seven bed” Constipated | sheets—in ten minutes. * —Built entire of aluminum and brass—with all metal Mrs. Miracle Is frame—no parts to wear out. Campaign Speaker ||) —Demonstration now going on. Come and see how In connection with her campaign the Maytag is different from all other electric for the office of mayor, Mrs. Kath- washing machines. ryn Miracle will speak Thursday A afternoon at 3 o'clock before the —Arrange liberal terms. Totem club, Arcade building; before | the University Commercial club at Rogers’ banquet hall at noon Fri- day, and before the Women’s Civic club at the homo of Mrs. B, Si | art, 720 Nob Hill, at 1:30 Friday i ‘ | [ ee she announced Wednes- he Where | (WORK WHILE YOU SLEEP) the answer | No griping or inconvenience fol- liows a gentle liver and bowel , & member of the BEST LAXATIVE 3°? sires Fei ges | Praises Schools | auianse yon "FLU" jcleansing with “Cascarets.” Siok | Sih rn, ey. L.A, ‘Wocdabole ® lose | Headache, Billousness, Gases, Indi. | P°tt of the country, Bi. A. at} BRONCHIAL COUGHS, woman secretary of the educational depart- | gestion, and all such distress gone | " 3 ms , by morning. Moet harmless laxa- jment of the ¥. M. C. A., told mem. TICKLING THROAT, wants to know tive for Men, Women and Children |D¢ts of the Religious Educational TROUBLESOME 100 boxes, also 267 and b0c sizes, | Workers at Dartnall’s cafeteria Tues- jany drug store—Advertisement, | | 4Y noon. NIGHT COUGHING, CROUP AND WHOOPING COUGH. Seattle's public schools are un what every equaled for efficiency in any other Rupture Expert Enact Pageant Symbolizing the work of the Y. W. Watel eels ag lef don't 1}, A, thruout the world, a pageant, x ‘i “The Golden Trail,"" was enacted as tomort a feature of the annual banquet of the Seattle branch of the associa. tion Tuesday evening. Mrs. Howard| ff nerves Substitutes-Seld Eve Darlington directed the pageant. - BONY CEAT oP ANYDAT SD ER wens, EN CHD SS NOTHING CHANGED THE PRICE, (Including the Tax) Children, 10¢