Savannah morning news. [volume] (Savannah) 1868-1887, 1886-10-22
A PROSPEROUS COMPANY.
The Chatham Real Estate and I'M
provement COmpany's Condition.

time, hoping that fresh arrivals would
add TO the number, but 1t appearing that
there was no possibility Of securing me
requisite number the meeting ADJOURNED
subject TO the call Of the President.
Printed copies of tue reports OF the
President, Secretary and Treasurer were
distributed to the stockholders, and there
was general expression OF satisfaction
at the condition of the corporation,
The report OF the Presidents a follows:
THE PRESIDENTS REPORT.
10 the Stockholdeys ofthe chatham Real Estate
md Improvement D,DdetV:
Tue resignation of Mr.. NJ. j. SulOiDons, who
was elected President at the organization,
created a vacancy which the Board Of Dlrec-
tors flied by electing the underslg n9d. Ny.
s0lOm DIS was subsequently elected % The
more important Office u secretary aud Treas-
Urer, in which he has given entire sa lsiaCtloL
20 his associates.
In compl auce with the requirements of the
cunsti tuition OF the company present tins re
port of ia business during { ne fiscal year enG
log he Goth OF June. / think the members can
congratulate themse YES upon the success
;hat has attended its uTst years upera'iCn
Tie plan upon which the business OF the Cum-
pauy IS conducted is altogether neN TO those
placed in charge OF its anIlrs. and hey had
much TO learn. 1t is, however, source OF
great satisfaction to me TO b. able to state
that In learning the Board Of Directors has
40 dearly bought experience, he company
not having sustained loss from any cause
what's )ever since It's inception.
This company. organized a little over year
aao, has proved not only beneficial TO is mem
bers in providing Il safe inVestme ut Tor their
savings. bat 1t mas become an lm portant fac
tor in building up our much loved city, sup
plying the means by which persons with mod
crate incomes can provide themselves With
comfortab e homes without paying eXorbltanl
rates of in terest for the money advanced to
them for that purpose. An important feature
IN this organization being its purely mutual
tOCknOl6prs. whether borrow
ers or not, participate in the profits. What
ever is earned by the company over and above
it's expenses Is returned 70 its members in the
shape OF dividends on their stock.
TO PROVIDE HOMES.
Every man owes 1t TO his family to provide
them with n nome. 1t Is solemn duty which
he should endeavOr to perform. The mother.
The wife, the children and others dependent
upon his labors can much easier fight the bat
lies OF lie, IL he ls sick or disabled or taken
from them forever, IL he has provided them
with a shelter, where no landlord comes every
month, or possibly every week. to take from
them their little earnings for rent. Yhia
company and others of similar character
AFFORD the means through which any man, by
Industry and self denial, can in a few years
become bis own landlord.
That that which il being done by this com
pany is appreciated by Its stockholders. il in
Dictated by the iromptness with which they
have paid their monthly lnstallments. In the
stock payments for the first year, Hggregatinc
y
of S299. No similar association IN this city,
venture TO assert, can make such favorable
showing,
At the close of the year under review the
issue OF stock amounted TO {, 1873 shares. on All
shares of which loans had been made. The
loans aggregated the sum OF $4,000, which 10
represented ny IA new houses built by stock
holders for residences Tor themselves; II
ready built houses purchased by stockholders
10 cheap class tenements; Il double TWO
story tOnements, and twenty loans made to
stocR holders to relieve membranes or re
pair property.
THE CoNPANY's STANDING.
The report OF the committee appointed to
examine the accounts OF the Secretary and
Treasurer shows the assets of the company to
he as follows:
On loans on real estate, secured by
mortgages, balance due
OF. ...................$ ,2l8 e
Interest due company. u Sc
Eac 5 and office iix'ts 235 q d.
Cdeh on hand .-. ....-.... $40 20-Sp2. Pol O.
The liabilities OF the COMPANY consist Of
Amount cOlPted on stocks 1888 90
Advance p'mts on stock 9,T44 90
Total stock payments sS3,S77 90
| Interest on advance pay
mems ..--.....-... 4E4 O3
Rents paid in advance 20 IS S4,o77 6S
! EXCESS of assets over liabilities sl73 q
The number of shares standing on the
| books. as before stated, is 6lSS, and the total
net earnings Tor the past fiscal year were
| stout 81 80 per share. The directors, on the
22d OF July, declared a dividend of 40 cents
! per share. payable on demand. The balance
| of earnings was passed TO the reserve profit
| fund.
APPLICATIONS FOR LOANS,
! The company has applications ON hand. &C
| cOmpanled 10y the best security, Tor ala the
| funds that Il will have TO loan ia the next
! three months.
For further Information as to the Affairs Of
! the company beg leave 20 refer To the report
OF the secretary and Treasurer. and his alb
s.raCt ana balance sheet, and also 10 tIe re
port of the Adding Committee, al of which
| are open To the Inspection % every mem her.
| This report relates only to the business OF
the company up to the S0th of .jpue the end
OF lis fiscal year. A statement of he affairs
OF the company Tor the three roonths which
have elapsed rluce that date docs not come
| within the legitimate scope OF this report. but
IL Is not out Of place. ami IL affords me pleas
ure to state that the business of the company
| Is still on the increase, and that the CUmpany's
prosperity has received no check.
The members OF tae Board of Directors have
! attended faithfully to their duties, and lie
serve the thanks Of their fellow stockholders.
| Had they known when they were eIeclco
| what sacrifices their newly ACQUIRED honore
| Of them could have been induced to accept
| the positions then rendered. However, the
| company's business being systemRtiEeu. their
duties Sr1 less eNactiug. and trust all of the
directors will consent to serve another wear
! should the stockholders sCe proper to re elect
| them. RespCctfuly submitted.
j. ii. EsIlLL, President.
The Secretary and Treasurer's report is
full and gives IN detail the operations o
the company FOR the year. The supple
mental report, covering the three month,
! SINCE June 80, makes an excellent show