Rensselaer Semi-Weekly Republican, Volume 36, Number 116, Rensselaer, Jasper County, 7 October 1904 — STATE BUILDING FOR K. OF P. [ARTICLE]

STATE BUILDING FOR K. OF P.

Indianapolis, Ind., Oct. 5. The Indiana Grand Lodge Knights of Pythias, today voted to erect a building in Indianapolis at Pennyslvauia street and Massaoh assets avenue to cost $300,000. A committee will be appointed by the grand chancellor to supervise the construction of the building which will be of stone or terracotta and ten stories high, The top floors will be devoted to lodge uses. The proposed ocst of the new building is $300,000 The method in which the grand lodge intends to arrange for paying for the building was stated by Grand Chancellor Merril E. Wilson, in bis annual report. ■‘The building site now owned by us;” said the report, is worth fully $130,000 and the proparty c_n be bonded f-r an amount sufficient to erect this proposed building, without calling for the contribution of a single dollar 'rom the subordinate lodges. It can be rented at an annual income of SBO,OOO The bonds can be issued for a long time, and the payment of interest, insurances, mainenanoe and other fixed charges, will etill leave each year a comortable portion of the income to be used for the purpose of reducing the bonded indebtness, rnd the payment of the peroapita tax now assessed against the subordinate IcdgES. Only $28,000 of indebtedness now remains unpaid on this property,slo.ooo of the bonds having been reti.ed durirg this administration.”