The morning news. [volume] (Savannah, Ga.) 1887-1900, 1892-04-05
TITLE GUAeAN EE's SHOWING
me Conpany's Operations During the
Last Twelve Months.

Ane Oompany's Operations During the
Last Twelve Months.
The annual meeting Of the stockholders of
the Title Guarantee and Loan Company OF
Savannah was held in the banquet room OF
the Odd Fellows hall last night. The hold
erS Oh 9o| shares Of stock were represented
In person and by proxy. The meeting was
very harmonious one, and the mem bers
seemed we'll pleased with the showing Of
the business of the last year.
Dr. u. ID. Stone, president OF the COM
pany, called the meeting to order and APP
pointed =. w. Saussy, John J. Powers and
l.; M; Appel committee on proxies Mr.. a.
hoC. duncan was chosen chairman of tho
meeting and Mr.. Isaac Beckett secretary.
Inc chairman on motion appointed z. J.
Kennedy, K. W. Cubbedge, Jacob Gardner.
Joseph Horseback and w. G. Smallwood
committee to nominate persons to act as
directors for the ensuing year.
Inc president then submitted his report
OF the operations Of the company. After a
orleI reference to Its organization in 1883,
no TOOK up che earnings and dividends.
At the expiration Of the second year a
dividend was declared of Sc per share and
credited upon the stock Series Al, which
reduced the payments to AZ instead of so
1he amount thus expended, if added to the
present surplus will make the net earnings
since the organization of the company S15.-
245 80.
The question of declaring dividend at
tne present time has been carefully cousid-
cred by the board of directors aud has been
decided adversely, the president said, for
tne following reasons: !. That financial
policy that looks to the future interests of
the company would dictate the accumula-
tlon OF reasonable surplus to provide for
future contingencies without having to i'm
hn tknlA o.
surplus Will strengthen confidence in the
stock. and thus do more to maintain 1t at
par value, or at premium, than to pay
out the earnings as fast as accumulated
.. We believe that with the surplus retained
In the stock this year the board will be- able
In short time to accumulate a sufficient
surplus to almost guarantee dividends for
the future. which will make this one of the
most desirable stocks in the market
The savings department is in a healthy
oondltion. 1t has not been deemed ex.
pedient to push the business of the title
guarantee department until the capital
CLOCK reaches point that will make the
guarantee of some worth. The COMPANY Is
now prepared to indorse commercial paper.
charging small fee for same, this indorse-
meut being secured by mortgage on real
estate.
The nominating committee submitted the
Following persons for election as directors:
Dr.. G. H. Stone, s. Krouskof, Charles II.
Dorsett, j. H. Furber. W. G. Cooper, Louis
Collat and Col. J. H. Estill Mr.. Kennedy,
the chairman, supplemented the report by a
statement that the committee recognized
the great value Of Mr., A. r. Fawcett Of the
board, but his services as treasurer and gem
eral manager of the Liberty Manufacturing
Company rendered ID impossible for him to
attend the MEETINGS regularly. The di-
rectors expressed their regret at his retire.
ment.
1t was decided that the fiscal year Of the
company shall end hereafter on the last day
of February.