, 1881-04-07
DOCKS AND DEBTS.
Annual Meeting. Of the Calumet G.
Chicago Dock company.s
TIA Affairs In Better Shape than at
This Tiulo Inst Year.
1 plan for runJlng lilo bonded n'bt Of the Concern
Views or Stockholders.

Views Of StUtkIloldtES*
rhc annual meeting Of tho stockholders Of
Mn Calumet Il Chicago Canal j. Dock CONT
pony wns held Mt 10 o'clnck yesterday MORN
iuu. IN The 0illce Of the cnrlnrnt'o. No. ~
Dearborn street. In previous ye"rs there
hnvn hrrn some tiaAErcelnenis md cto'vtttnE
nut NJ crr,uin s,ockhoilcrs, which caused 1t
Failing Of ,Iistrust, md the work tto1o ut tho
nu,,,al meetings hns not always given yell.
croI satisfaction. This year there was II
rreotrr spirit uf harmony, and lnoro u,,an-
;mlty of sentiment. All tll!s Is accounted for
Iv tic tact that times havn cliNNgcd,--
ami for the better, -nnd this llns
brnet1tcd this Company 10 n largo
extcut, SO that to-tlay It is perfectly solvent,
nnd. tt allowed to fund its debt, us as been
nroI,osstl, will In n few years bc abtt to pay
uff nil Its indebtedness md leave largo tlar-
ajn Tor lts Stockholders aver md above tla
stateti bnforc the meeting yesterday WIS
Harmonious and the reports received con-
gIdrred exceedingly satisfactory.
THEIR; WE'RE PRESENT
L. h. Otis, X. l.. Otis, George l.. Otis. Henry
s Z GESsc s1ar; CG E H. + Fa1fp IT, Watr,ss Al i 8"ws ss
trj.r, lIii'J j. W iieiiner, tIc,l JOHN I. Tor.
railcc, Il. A. Chils!s. Judge Oils, as Receiver
q te State SaynKs ln;stlton IT.; rsnresented g g
SSt Siiares q seosM .. lip pa s"u rnt,ra,'t. ~
5000 shares, equal ,to sSo,ooo tace value;
cs.utc Of Sheridan Walt, lio sllnres; j. Otis
Wtalherby, .Es shares. II will he renrl-
lie lie. stock OF tbs Coinruny hvid By tho S,ato'
Savings Institution, but afterwards wit
drew his offer. Gen. John T.: Torrnllcc for
himself antl the Juscpll II. Brown Iron y
Steel Company. represented 1:N s!larGs. Col.
G, j.. EiAtan represented 1,3l51l shares IN
behalf Of himself, the 1!ellNerY. al.d Judge
Elliott Anthony, who holds su5 900 ol thu
stuck. Tho total outstanding stock r. the
$I0O each, l.,00o Of which were voted Ut Tho
meeting. A tho stockholders meeting Judge
Otis WIS called upon to preside.
THE SECRETARY,
A. s, Downs, rendered thu following report:
TO The lttstdcnt aud l,osrs of Directors Of nc
GKkILEMEx: During tic twclvo, mo,.ths end.
inx March u. lssl; thVrc has DEVELOPED great "a
lhngiuH to this Cotnrany. and what IL alst1 Of
grrlt Importance IN this connection, contldettco
tales ss 1,S ,nanitests IN ths property ot Tic o
=,ADy, particularly since tho snlo to tho North
Ili9n&o Steel Company ard tho erection Of thoir
\ number Of settlements wero made during
Inst ycAr With tho curly lot purchasers, nr1 IL
ernltcrms Thls has tended 10 prtntty strenatiien
the friendly feeling for nl!d tho c1nflleiitc ~
hns f@s sa9 M Pra ~ yer Hs
IN cusi,, ST 71l3.s5, aud hulds notes secured by
trust deeda for tho baaanco. cyccpt that tho ~.
cent sn1es wcrc malv On urttcits OF agreement
f0r decd, Iii which e1scs ns,tes were not takcn,
but tho sttnc. .puy,ncnts nre covered by articles
Tie average sale price OF the 1o4 lots WINS aj0l
eteh. Tho Company nlHo sold ntarly twenty
acres q lnns deross tlio sout, enn ~. VI ssc: u
Aso, twcnty ACRES from thu northwest e',rner
of tho sautheast qurter OF sno. u, Town u
ninuuntIrlyio $ti,stI.EO.
The Col,,pn,.y hays received % for % rsl,ta t: col
Tas Gopsnx has paid tae pal4nSe ice, q ~ n9s. ,
for 1851, ind tlusu would haye brru pnl. hut
after tho tlnac for delivering his books to tho
County Treasurer. hespSgetIf,n,iy: I,a s,o.:t,r,,
Tho following table shows tho receipts
NIL expenditures:
Receipts amt expenditures yenr endsng Mnrct
y. 1ssl, Cnlumcnt s. Chicago Canal s Dock
'ompAoy' RECEIPTS.
Collected on bills rocciv-'
pay@en,s sSs: on io.a sol;i::: % ,ssss
Inynionts om lands sold. l5,xJM
Taxcs rcfuuded.. HG.@l-$ 7a,olo.W
EXPENDITURES
Taxes paid {lsso and for
Expenses, including in
eurE1lcu, buck rents faet.
tlesl In tEoU1, nbstrncts,
legal expenses, forc-
costng tei9hty}, trust
deeds. rcpnsrs, bills pay-
ns !t uRySie i,nort9asas "''s'' '''''
paid SiMco Mnscn 81, 1881 j., $1,000
The following is
A RTltTEMEST OF TIE INDEBTEDNESS
Of the Company, rs taken from the Sccre-
tAty's report. 10 this should be a,slGd, us IL
liability, 1900 shares Ut capital stock, repre-
sent!nE face value Of 81 ,Go0,0 ,0o0:
LtAnlLlTlEs
Indebtedness OF tho Cnlu1npt & Chicago Canal
Dock Company:
1,naa',S n1nas outstanding. a,s, s.....sl, l@,ooo@
INT. no,,s;; v, ;,11,;i: ;f4s''S'o"
SSs92G1s lss9: T. ,o,74os7- ss:nge-,l,4,ans7
Interest on oni, aamo to
Ceri'I1an;cs C'I,a !; .eoi''..'''''' ;sss"M @7'l'
lnterest 10 Aprli isl. EilM.0l- bt.ss1as
Accounts, .......................... l.:.sN,00
Total....... ...,...,.,............st,sg ,sg,, ,isi0J
Ihe Company owns l.0o5 acres Of land, sub
altidtd Into lnts, embracing South Chicago
Eluca. Iie lots In snn!li Chicngo arc sell
l!ig ut s51o, and aru G!gt to thu mere, nlaklng
ne ntre value Of this property S., 0U.. There
IS a.sn stS,oas due the, Co,npany, III bills re-
M"icu ut $S,70o,Oo0.
TAlsON'a LETTER.
:, 4 communication from ex-t;ov. Tabor, OF
Colorado, WIS received and reAd, addressed
70 III s,oekholdcrs mud Donrl uf Directors,
" which no stA1es tl.at through tho trustee,
Gen. Georg9 ", Smith, named III tho de,nl
q trust Which SECURED the bonds OF tho
Company, by reason uf default iii the ,,ay-
,nrnt Of interest Oh the ba,,dett tlUbt, llo gays
notlSe TUT lio w9uld soon commence nro-
Cepttlhg3 10 tOrGctUSG Tho traSt-uett[ This
letter led to sntllu discussion. aud tic udou-
tlun Of llle following resolutions:
:, Rrsn'rtti. That the I,ourtl Ut Directors ct this
Company TO And thDy nrG hcrt1Y authorized tu
take such measures rs they s!ialt deon OK
I'e.'!eht nnd lind u bs nrittlc!Glc, to fund tho
indebtedness ot thia E0Hlpns1y now pust due,
will tho Interest aecruct' thosuon. nna to that
tal. md thMt they hu. n1la atu hnreby. nuthor-
lkGu to Cause 10 DO executed by tho officers OF
ms CoMpany. notes Or other obligations, 0f
snrh tenor as tloy shall lind t'cst to 10 sscutcd
W murtKaYc, Or DthHrwfse, to hD likewise
properly r4cruted. alni to be pnynbIc Within
such tlsne ns thoy t1ay Ue nh!u to arrange, With
LS7Gltf 1.,$S, tsku. 1Lr4.i ~ I,F