▁president . ▁Later ▁that ▁month ▁the ▁association ▁issued ▁its ▁initial ▁public ▁offering ▁of ▁$ 1 5 , 0 0 0 , ▁sold ▁at ▁$ 2 5 ▁per ▁share . ▁Stock ▁ownership ▁was ▁restricted ▁to ▁women . ▁In ▁May ▁ 1 8 8 9 ▁the ▁Pro py la e um ' s ▁stock hold ers ▁agreed ▁to ▁increase ▁its ▁capital ▁stock ▁to ▁$ 2 0 , 0 0 0 . ▁All ▁of ▁the ▁stock ▁was ▁sold ▁by ▁March ▁ 1 0 , ▁ 1 8 9 0 . ▁ ▁The ▁group ▁laid ▁the ▁corner stone ▁for ▁the ▁original ▁Pro py la e um ▁building ▁at ▁ 1 7 ▁East ▁North ▁Street , ▁between ▁Mer id ian ▁and ▁Pennsylvania ▁Stre ets , ▁on ▁May ▁ 8 , ▁ 1 8 9 0 ; ▁it ▁was ▁dedicated ▁on ▁January ▁ 2 7 , ▁ 1 8 9 1 . ▁The ▁Indian apolis ▁Pro py la e um ▁was ▁among ▁the ▁first ▁of ▁its ▁kind ▁in ▁the ▁United ▁States ▁to ▁be ▁" fin anced ▁entirely ▁by ▁women ▁stock hold ers ." ▁From ▁its ▁in ception ▁the ▁association ▁intended ▁to ▁offer ▁" ed uc ational ▁opportun ities " ▁to ▁men ▁and ▁women ▁and ▁establish ▁its ▁club house ▁as ▁a ▁cultural ▁center ▁for ▁the ▁city . ▁ ▁The ▁building ▁served ▁as ▁the ▁headquarters ▁for ▁the ▁Indian apolis ▁Woman ' s ▁Club , ▁as ▁well ▁as ▁host ▁to ▁several ▁other ▁social ▁and ▁cultural ▁organizations , ▁including ▁music , ▁dram atic , ▁and ▁literary ▁clubs , ▁the ▁Port folio ▁Club ▁(