Saturday, October 04, 2014
Way Back When
This is a photo of the opening day of the Hawthorne Hotel in July 1925. There was clearly a LOT of interest in that special occasion. The reason for the interest is clear if you know the history of how the Hawthorne came to be built. The hotel was built by "public subscription" in that shares of stock were sold to whomever wanted to participate. Rather like "crowd funding" of today, but with an actual share of ownership accruing to the purchaser.
Over time all of the shares were purchased back, so if you happen across any of these in grandma's attic, I can assure you they are worth only their value as a curiosity.
I hope you enjoy this look back in time.