The morning news. [volume] (Savannah, Ga.) 1887-1900, 1891-10-22
CHATHAM BANKS NEW HEAD.
Capt. Gordon Resigns and Col. Ohm
stead Made Presidsu

Capt. Gordon Resigns and Col. Ohm
stead Made Presids emit.
At a meeting Of the directors of the
Chatham Bank yesterday the resignation OF
President Beirne Gordon was accepted and
Col. Charles II. Olmstead was elected to
FL the vacancy.
Capt. Gordon rendered his resignation 70
the directors last week in letter fully ex-
planning the reasons for his sctiOn. The
directo we're 10th TO accept Capt Gordon's
resignation, and eldeavored 60 prevail upon
him TO withdraw 1t, but he remained firm
in his determination 70 withdraw. The let
ter was before the board at its meeting yes
tsrday.
Capt. Gordon stated in effect that the
necessities of the cotton business. In which
he is engaged, were so great and so pressing
a. this season that 1t was impossible for
him to attend his duties as president OF the
bank without 20 some extent neglecting the
duties OF his cotton business, which, 10
justice TO himself, he could not do. He said
that during the summer months he found
no difficulty in fulfilling the position, but
that he had found it impossible to meet the
increased demand upon his time by both the
bank and the cotton business since the
opening Of the busy season without sacri-
6cing the Interests of one to those OF the
other, which be could not afford to do. he
suggested, therefore, in view OF this fact
that the vacancy caused by his resignation
be filed by electing some one to the presi-
deucy not actively engaged in other BUSH
ness.
Capt. Gordon's resignation was then &C
copied, and the following resolutions were
adopted:
RESOLVED. That we accept the resignation OF
President Beirne Gordon with sincere regret,
and only consent to this action because mis- con
yicions are so strong that his private interests
| demand his whole attention: And IN doing
this We desire to express our admiration OF tnaS
| conscentiouSness which, refuses TO hold Office
unless the duties Of that office can be fuliy and
| faithfully performed.
Resolusd That we tender orr thanks to Mr..
| Gordon for the careful attention and the marked
| ability which nave claracteriZed the admins
| tratis of mis- Office, and beg to assure him ira
| his I'm form courtesy has not only been pleas
| especially endeared him TO every member of
/ this board. WITH whom he has
had daily personal Intercourse. and
we are glad to know that IN parting with
| him as president We still have the benefit of
his counsel and influence as a director on this
| board.
| Resolved, That the cashier be requested to
| record these resolutions on the minutes of the
| board and send copy to. Mr.. Gordon.
Vice President ". w. Chisholm having
been in poor health for some time, the
| directors decided to adopt the suggestion
of the retiring president and elect some one
not actively engaged in other business.
In pursuance of this suggestion Col.
| Charles H Olmstead was unanimously
elected president of the bank.
Col Olmstead Ia so well and favorably
known in Savannah as 60 need no mention
in any respect. He has been identified
| with the banking interests of this city
for number Of years, having been the
senior member Of the firm of Charles II.
Olmstead g. Co.. private bankers, which
partnership expired by limitation Jan.
last, since which time he has not been ac-
lively engaged iu business.
A statement of the Chatham Banks
fnances appears on another page, which
shows 1t to be as solid as it is generally
supposed to be.
The change in the presidency will not af-
feet Cashier Burdel's position with the
bank, who will continue as heretofore.
Capt. Gordon will continue as q member
of the board Of directors.