Articles of incorporation of the Diamond Hotel company were officially filed today by attorney Richard White, says the Chico Enterprise. Chico is the principal place of business. The capital stock is fixed at $15,000 divided into shares of the per value of $100 each.
The sum of $5,200 is actually subscribed as follows: W.F. Rau, $5,000; George E. Kremer, $100; Donald McLain, $100. McLain's stock will be transferred in a few days to J.F. Clark, a Los Angeles lawyer who was unable to be here. McLain permitted his name to be used in order to facilitate the organization of the company.
There are still 98 shares of stock in the treasury of the company, and if Rau and his associates cannot conduct the hotel on the basis they desire, more stock will be sold in order to increase the hotel facilities, open to enlarging and modernizing to a greater extent.
The hotel office has been moved to the west side of the building, or in the space formerly used as a grill lobby and orchestra room. Rau will remove all hotel boxes and have sample rooms for travelling men in the hotel instead of in Third Street, as under the old regime.