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VIEW FROM THE SOUTHThe director* of the Bar Harbor Howl Co. issued the following statement this week in reporting progress cm the proposed hotel for which stock was sold through an intensive campaign last summer.On the sixteenth day of March, the Bar Harbor Hotel Company, Inc. entered into an agreement with Ambrose S. Higgins and Associates and Arthur W. McFarland, architects, to do the architectural work for the new hotel. The axchi-tecta have completed preliminary plans and sketches, and these plans have been favorably considered by the executives of the Sheraton Corporation, by Chester Wee-cott, former proprietor of the Malvern Hotel, and by Thomas Mour-kas of the Belmont Hotel. The Board of Directors of the Hotel Company have approved the plan» and the architects are now preparing plans and specifications to submit to contractors on which firm bids for the construction of the hotel will be received.The last payment under thesubscription agreements for stock is due on June let, and all subscribers for stock should see that their stock is paid for at that time as it will be necessary to *ate bo the Reconstruction Finance Corporation exactly how much capital the Hotel Company has before the Company can get a loan. The Reconstruction Finance Corporation representatives have been here and made a survey and the Hotel Company has been assured that a loan sufficient for the construction of the contemplated hotel will be made when the Hotel Company is in a position to submit data on which to base the loan.The Directors greatly appreciate the cooperation shown by the stockholders. Most of the pledges have been paid each month. Therenow remains less than 60,000.00to be collected and most of that will not fall due until May 1st and June 1st. This is not only heartening to those you have chosen as officers and director* to carry on the work, but it is a highly commendable spirit in the community where employment has not been boo good during the winter months.The hotel could not be built without money and it is impossible to get a loao, a* stated above, until the Board of Director® can gel all the facts together, but the Board has engaged architects, as indicated above, and plans have been made and the work is going on as expeditiously as possible. 11 » now expected that actual construction on the hotel will begir not later Chan the middle of Julj 1949.Directors of the Bar Harbor KotoCompany. Inc.Tristram C. Colket William Fenton Dale J. Foley Archie Getchell Clarence C. Little Donald MacLeod Harold MacQuinn George G. McMurtry A 3a Waegatt John WhitcombBy:R. C. Mastcnnan. President.
Newspaper Details
Bar Harbor Times
Bar Harbor, Maine, US
Thu, Apr 28, 1949
Page 1
Full Page
Clipped by
Earl B.
NA, 09 Jul 2017
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