Lubbock National Bank plans to build eight-story building
1939 Lubbock's long and vitally needed office building became about as nearly a certainty Saturday as could be possible to make it.
The board of directors of the chamber of commerce, according to President Mark Halsey, voted unanimously and enthusiastically to undertake the sale of $100,000 in 5 percent $100 per value preferred stock in the enterprise.
It was the first time during the several years that the need for an office building in Lubbock has been subject of almost constant discussion, the chamber president emphasized, that any kind of office building project has been submitted to the chamber board for its approval or disapproval.
The project is that of the recently organized Lubbock National company for which C.E. Maedgen, president of Lubbock National Bank, and associates recently were issued a charter with a paid-in capitalization of $100,000.
For that $100,000, common stock in the office building is to be issued.
The building, to be of eight stories, is to be erected on Main Street on the three lots directly east of the Lubbock National Bank building.