The morning news. [volume] (Savannah, Ga.) 1887-1900, 1891-05-27
TO PUT Up A 100000 BUILDING.
The Frovident Life Assurance Society
70 Erect 7-Story Structure.

The Frovident Life Assurance Society
70 Erect 7-Story Structure.
The Provident Savings Life Assurance So
ciety Of New YORK has purchased the
buildings and lot on the
east side of Drayton street,
from Bryan to Bay lane. The lot is 90 feet on
Drzyton street. with q depth Of 60 feet
The price paid was $4,000 in cash. The
property was owned by the Savannah
Bank aud Trust Company.
The Proyident society win remove the
old buildings as soon as the leases Of the
present tenants expire on Oct. /, and will
begin at once the erection Of a handsome
structure Of five or seven stories, at cost
Of about s10o, 900. It is TO be completed by
Oct /, 1892. The building win be built for
once and banking purposes. The first floor
Will be arranged for two banks, and the
upper floors for Offices. The main Office
VIII be occupied by bearing & Hull, agents
Of the Provident society.
Tho building viii be built Of brick and
stone and viii be fitted with elevators
steam heaters, electric lights, gas fixtures
and ali other modern improvements. The
bricks will probably be OF the same mate
rial as those in the court house. The front
will be OF handsome pattern and there will
be tower at the Bryan street corner.
The plans will most likely be drawn by
Architect Preston Of Boston, who prepared
the plans Of the De Soto. as the handsome
hotel attracted the attention of the officers
OF the company when they were here sew
eral weeks ago. President Shepard
Honiaus inquired of Mr.. Robert NJ Hull at
that time the name of the architect, and
said he wanted to get him to draw the plans
OF the new Prevalent biiildirp
lt was the intention OF the assurance
society at first to erect the building in
Macon. President Romans and Vice Presi-
dent Parsons came here by the Ocean
Steamship Line about twenty-five days ago
and were met by j. o. Winn Of Atlanta,
general agent for Georgia.
Mr.. Hull impressed upon them Savan-
nah's importance and great future pros
poets. and told them If they would make
up their minds TO locate here be would be
able to get the Drayton street property
After considering the matter carefully the
officials decided to accept Mr.. Hull's advice,
and asked him 10 negotiate the purchase Of
the property. The papers were signed yes
terdsy.
The Provident society is one of the
strongest insurance organizations in Amer.
lea. 1t began business twenty years ago on
capital Of $100, 900, and to-day its assets
are over $1.000000. Its premium income
for the year ending June 1, 1890, was
81, 5l2, $50 SO. The statements for the year
ending Jan. l, 1891, have not yet been issued,
but the society did largely increased bust
ness over that of 1890. It recently completed
handsome five-story structure at Waco,
Tex. bearing & Hull have already received
applications for the banking portion of the
new building, and most Of the offices over
head.
President Romans gives Mr.. Hull au-
thority to state that the Provident society
will subscribe $4,000 to any bank which
will organize with capital Of from $780,
700 to $500, 600, and adopt the name OF the
Provident society The bank. furthermore,
will be gwen quarters in the new building.
The erection of the Provident building
will be big Improvement to Savannah.
Mr.. Hull deserves special credit for his pub
lie spiritedness in advancing the claims Of
his own city and inducing the officials to
change their intention as to the location of
the building.