00100	1 August 1972      PROSPECTUS FOR A PURIFYING PONY	   L. Earnest
00200	
00300	A  number  of  people  have  expressed interest in having a sauna and
00400	showers somewhere  in  the  laboratory.   Preliminary  investigations
00500	indicate  that  showers  cost about $100 each plus any extra plumbing
00600	costs for bringing in hot and cold water.  Saunas  range  from  about
00700	$1000  for  a  unit  with room for 3 persons to $1600 for a 10 person
00800	unit.
00900	
01000	There are at least two possible locations for the  installation:   in
01100	the  unused  women's  room downstairs or in a basement section in the
01200	middle of the building, which we plan to acquire shortly.
01300	
01400	FINANCING
01500	
01600	I  propose  that  we  attempt  to  pay  for  the  new  facilities  by
01700	subscription.   In particular, shares will be offered at $10 each and
01800	subscribers will be permitted to buy as many  as  they  wish.   There
01900	will be certain benefits to shareholders, as described below.
02000	
02100	At  least  110  shares  must  be  sold to cover a small sauna and one
02200	shower.   With greater support, we can increase  sauna  capacity  and
02300	the number of showers.
02400	
02500	CONSTRUCTION
02600	
02700	In order to keep costs down to the figures given above, we will  have
02800	to do most of the construction ourselves.  The estimates are based on
02900	a kit with precut lumber for the sauna and a commercial shower stall.
03000	
03100	OPERATION
03200	
03300	The  sauna  and shower facilities will be operated on an honor system
03400	basis similar to the Prancing Pony.   There  will  be  a  reservation
03500	system and door latches to insure privacy for those who want it.
03600	
03700	I propose that we charge $1.00 per person  for  a  sauna  (commercial
03800	rates  are  $2.50) and $.25 per shower, with shareholders receiving a
03900	20% discount for each share.  Thus a person holding  5  shares  would
04000	have free use of the facilities.
04100	
04200	PAYOFF
04300	
04400	The use charges will be accumulated  and paid back to shareholders in
04500	$1  decrements.   When  shareholders  have  been paid back fully, the
04600	facility will become free to all  Laboratory  staff  members.   Thus,
04700	while  shareholders  will  not make any money, they will benefit from
04800	discounts during the payoff period.
04900	
05000	Subscribers may sell their shares to someone else  at  any  time  for
05100	however  much  they  can  get,  but shares are redeemable only as use
05200	charges accumulate.
     

05400	SUBSCRIPTION
05500	
05600	You are urged to consider the extent to which you  can  support  this
05700	undertaking.   Initially,  we  will  ask for pledges to buy a certain
05800	number of shares, but will not collect money until  plans  are  firm.
05900	See Norm Briggs if you are eager, or wait until he contacts you.