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Article QUE AEOHIIECTUEAL CHAPTEE. ← Page 3 of 4 →
Note: This text has been automatically extracted via Optical Character Recognition (OCR) software.
Que Aeohiiectueal Chaptee.
enabled to possess Masonic halls by judicious combinations . The plan is to constitute a limited liability company in £ 5 shares . Thus a . hall costing £ 5 , 000 would consist of 1 , 000 shares . By temporary loans from neighbouring Lodges and provinces the undertaking is started in other places , and might be started here . There is no restriction of the proprietary to members of the Order , but there is a restriction so far as the trusteeship and appropriation of the building is concerned ; and in some cases power is
reserved to acquire shares for the Masonic trust , or to apply a sinking fund so as to secure the eventual possession of the " building by the Craft . It would be worth while for Grand Lodge to bestow some attention on this subject , to inquire what Masonic halls and buildings exist , and on what trusts they are held ; and efforts should be made to secure the freeholds and the possession of the buildings in the same way as Freemasons' Hall is secured . By a little care and attention . ' considerable addition- ' would' thus be made to the property and resources of the Order .
Where properly arranged , a Masonic hall gives a fair return , by being let out for public meetings ^ concerts , and lectures , and by the rent of the refreshment department and cellarage . A hall costing £ 5 , 000 requires a rental of £ 350 a year , or about a pound a day , on the average , to pay its dividend of £ 5 per cent , to the shareholders "; land in a decent town this is easily made up , and the property becomes a good security .
By judicious arrangements , under the advice of a central authority , Craft objects would be secured without virtual outlay . There should first be a provision for the property being in trust or possession of Grand Lodge or of the Provincial Grand Lodge , but never of the local Lodge , or even Lodges , though it may be held in trust for their nse . In the next place ,. the free use of the hall for Lodge and Chapter purposes must be provided . Then , in the contract for refreshments , the tariff for banquets
must be put as low as possible . A stipulation must be made , by the stewards , or others intrusted with the management by the Grand Lodge authorities , against the letting of the building for any objectionable purpose . An arrangement must be made that , after the payment of 5 per cent , to shareholders , all further receipts shall be applied—first in reduction of mortgage debentures , and subsequently in the redemption of shares
at par—whereby in the end the whole building would become the property of Grand Lodge . As the rental became more stable , supposing it to produce a net rental of 5 per cent ., then the trustees might raise the cost price ( at 3 | , 3 § , or 4 per cent . ) on mortgage , and redeem the whole of the shares , establishing a sinking fund of from 1 to 1 A per cent ., increasing
by the accumulated interest for paying off the mortgage debt . By careful management , in some forty years the whole building would be free , and afford a considerable rental , applicable to Craft purposes for local and benevolent institutions . In order to promote such a result , it would be well worth while to lend from Craft funds £ 1 , 000 or so for three , five , or seven years , selling out of the three per cents . Twenty Masonic halls belonging
to the Order , would relieve in his old age many a Brother now living , place many an orphan at school , and succour many a widow , without the outlay of one shilling from the general or Lodge funds . £ 4 , 000 or £ 5 , 000 a year added to the general and benevolent income of Grand Lodge and
charities , we all know would confer the greatest benefits on many a worthy object . This is a matter that should be looked into , for there are numerous towns having a so-called Freemasons' Hall or Masonic Hall , which has the patronage of the Order , but which is not under its control , and the revenue from which goes into the hands of strangers , perhaps speculating 4 i
Note: This text has been automatically extracted via Optical Character Recognition (OCR) software.
Que Aeohiiectueal Chaptee.
enabled to possess Masonic halls by judicious combinations . The plan is to constitute a limited liability company in £ 5 shares . Thus a . hall costing £ 5 , 000 would consist of 1 , 000 shares . By temporary loans from neighbouring Lodges and provinces the undertaking is started in other places , and might be started here . There is no restriction of the proprietary to members of the Order , but there is a restriction so far as the trusteeship and appropriation of the building is concerned ; and in some cases power is
reserved to acquire shares for the Masonic trust , or to apply a sinking fund so as to secure the eventual possession of the " building by the Craft . It would be worth while for Grand Lodge to bestow some attention on this subject , to inquire what Masonic halls and buildings exist , and on what trusts they are held ; and efforts should be made to secure the freeholds and the possession of the buildings in the same way as Freemasons' Hall is secured . By a little care and attention . ' considerable addition- ' would' thus be made to the property and resources of the Order .
Where properly arranged , a Masonic hall gives a fair return , by being let out for public meetings ^ concerts , and lectures , and by the rent of the refreshment department and cellarage . A hall costing £ 5 , 000 requires a rental of £ 350 a year , or about a pound a day , on the average , to pay its dividend of £ 5 per cent , to the shareholders "; land in a decent town this is easily made up , and the property becomes a good security .
By judicious arrangements , under the advice of a central authority , Craft objects would be secured without virtual outlay . There should first be a provision for the property being in trust or possession of Grand Lodge or of the Provincial Grand Lodge , but never of the local Lodge , or even Lodges , though it may be held in trust for their nse . In the next place ,. the free use of the hall for Lodge and Chapter purposes must be provided . Then , in the contract for refreshments , the tariff for banquets
must be put as low as possible . A stipulation must be made , by the stewards , or others intrusted with the management by the Grand Lodge authorities , against the letting of the building for any objectionable purpose . An arrangement must be made that , after the payment of 5 per cent , to shareholders , all further receipts shall be applied—first in reduction of mortgage debentures , and subsequently in the redemption of shares
at par—whereby in the end the whole building would become the property of Grand Lodge . As the rental became more stable , supposing it to produce a net rental of 5 per cent ., then the trustees might raise the cost price ( at 3 | , 3 § , or 4 per cent . ) on mortgage , and redeem the whole of the shares , establishing a sinking fund of from 1 to 1 A per cent ., increasing
by the accumulated interest for paying off the mortgage debt . By careful management , in some forty years the whole building would be free , and afford a considerable rental , applicable to Craft purposes for local and benevolent institutions . In order to promote such a result , it would be well worth while to lend from Craft funds £ 1 , 000 or so for three , five , or seven years , selling out of the three per cents . Twenty Masonic halls belonging
to the Order , would relieve in his old age many a Brother now living , place many an orphan at school , and succour many a widow , without the outlay of one shilling from the general or Lodge funds . £ 4 , 000 or £ 5 , 000 a year added to the general and benevolent income of Grand Lodge and
charities , we all know would confer the greatest benefits on many a worthy object . This is a matter that should be looked into , for there are numerous towns having a so-called Freemasons' Hall or Masonic Hall , which has the patronage of the Order , but which is not under its control , and the revenue from which goes into the hands of strangers , perhaps speculating 4 i