Savannah morning news. [volume] (Savannah) 1868-1887, 1885-09-24
VALUED POLICIES.
Meeting OF Representative ofthe Build =
ing and Loan and Investment ComPR-
nies-The Board OF Trade.

Meeting OF Representatives ofthe Build
ing and Loan and Investment CompS-
nies-The Board of Trade.
According TO a suggestion made at the
last meeting Of the Savannah Mutual
Loan Association, a call was issued for
a meeting OF the representatives OF all
similar Associations interested in the
real estate OF the city, 10 be held yester-
day afternoon at O'Clock. At that hour
there was full attendance Of those in
vited. at Messrs Lawton &c Cunning
hams office. All Of the associations in
the city were represented, as follows;
The Chatham Real Estate and Improve
meut Company.
The Savannah Mutual Loan Association.
The Railroad Mutual Loan Association.
The Chatham Mutual Loan Association.
The Southern Mutual Loan Association.
The Jasper Mutual Loan Association.
The Pulaski Mutual Loan Association.
The Workmau's aud Traders Mutual
Building aud Loan Association.
The Merchants aud Mechanics Mutual
Loan and Building Association.
Mr.. George y. Nichols stated the object
Of the meeting, aud on his motion Col. K.
ID. Walker was called to the Chair.
A. X. Lawton, Dr., ESD was elected
Secretary.
Among those present, besides those
above mentioned. were: NJ. j. SOlomOns,
ESD, Hon. W. y. Harden, Hon. =. W.
Meldrim. Herman Myers, Esq, Capt. ID.
G.. Purse, Emile Newman, Col. J. Ii.
Estill, $. j. Wheaton, and j. l.. WhatleY.
After remarks by Messrs. Nichols, Har-
den, SOlOmOns, Meldrim, Wheaton, and
others, the following resolutions were Of
fered by Mr. Lawton and unanimously
adopted
WHEREAS, The changes sought to be eff
fected In The aw of Insurance upon real es
tate by the valued policy bill now pending IN
the General Assembly have been brought to
our attention; and,
WHEREAS, Nine-tenths or more of the
money loaned b. loan assOci atoms and insti-
buttons of similar character in Savannah re
secured by deel to real estate. most Ok which
Is improve The loan beng effected upon the
strength of the Improvement; and,
WHEREAS. The asSig lment to the loan as
soclations Of policy upon improved property
ia necessary, and without such policy the Sc
curity would be almost worthless; and
WHEREAS, the passage of the bill Will have
one OF two enecJs-either to make 1T difficult
or impossible to obtain insurance upon real
estate at all, or to advance the rate OF pre-
uni ms, and thus diminish the savings of the
small holders; therefore be ii
Resoi0ed, That representatives Of, and par
ties interested in large part Of the real es-
tate in this CITY, and with strong instinct OF
SOLE pItStE NdllOis Iut7t dsnptldilDuS TbCOS-
nize that they are deeply interested in the
pending question, and, believing that our
prosperity. If not our very existence may be
seriously imperlled by the passage OF the bill,
we earnestly request our Senator and Rep
resentatives to exert themselves in the prem
lses and use their best efforts for its defeat
The meeting then adjourned. Copies of
the resolutions we're sent forward last
night to the Representatives from Chat
ham county and to Senator Falligant.
A meeting of the Board Of Trade was
also held at O'Clock to discuss the meas
ure. The bill was considered in al its
features, and its advantages and disad-
vantages were debated. The general
sentiment was in opposition to its pas
sage, and the following resolutions were
adopted:
WHEREAS, A bill is now pending before the
General Assembly of Georgia known as the
valued policy bull, the provisions of which this
board believes to be contrary to sound policy
and eubyorsiye OF the public interests, there
fore it is
Reso{sed, That this Board Of Trade respect
fully protests against the passage of said bill,
for the general reason that it is not IN accord
ance with correct business principles; and 1t
Is further
Res0iUed, That our Senator and Represent
atlYes be furnished with copies of these resO-
lutiOns, and they are hereby earnestly re-
quested TO use their influence against the
passage of said bill, and TO present this pro-
test to the Legislature.
The resolutions were forwarded to At
lanta last night.