The morning news. [volume] (Savannah, Ga.) 1887-1900, 1892-10-21
BAKING POWDER

ened by only having one class of share-
hoiders, and In this opinion am supported
BY number OF the board OF trustees.
1t may not be out of place to suggest
tnat In the event OF the sale of the lands of
series A shareholders could easily heoorna
purchasers, as with few shares of stock
and lot there w0uld be no difficulty in
/ borrowing what money might be necea.
sary from the company to pay for the
purchase. By this plan the shareholders
would get home or an investment on EASY
terms and the company benefited by the
interest earned upon the borro wed monev
TO secure the purchase
In referring to the officers Of the COM
peny, the president said: ''The board of
directors have, as usual, given their valua-
Die services free Of cost. Mr.. NJ. J. Selo-
mons, secretary and treasurer, has been
faithful TO his trust. His salary was raised in
August by the directors to $500, which is
responsible position"
The report was received and ordered en-
tered In the minutes
Inc recommendation for an amalgamation
OF the two SERIES the advisability Of which
the president urged, was brought before the
meeting by the following resolution BY G.
II. Dorsett, the adoption Of which was
moved by Capt H. NJ. Branch and seconded
by ). g. Ro Wand:
WHEREAS. 1t may become necessary before
the next annual meeting to provide for the
ehaigamatlen or series and B Of the stock
OF me company; and
WHEREAS, To effect such amalgamation It
may be found necessary to sell the real estate
or series A; therefore be il
ReSotUed, That the board of directors be and
are hereby authorized to take such steps as thew
ma necessary TO effect the amalgamation Of
series and of the stock of this COMPANY on
an equitable basis.
The sentiment Of the meeting was strongly
In favor OF amslgamation, but there was
some difference OF opinion how it was to be
Mr.. G. 8. Connerat moved to amend by dec-
laring In favor of amalgamatiop as soon as
possible, but that the directors submit plan
to the stockholders.
w. ID. krenson wanted the matter looked
into more fully, and moved to still further
amend by referring to the directors for in
vestigation and report to the stockholders
amendments were withdrawn.
Capt. Branch's resolution was almost
unanimously passed.
Inc amalgamation, which will be accom-
plished in time by The sale of the investments
OF series A and q division Of the profits
among the stockholders and then union
OF the two series, is desirable in
nomloal and satisfactory operation of
the company. During the discussion Of the
smalgametlon movement the value of the
oompany's Investments was commented
upon. The stockholders recognizes the i'm
portance OF their interests and expressed the
utmost satisfaction with their management
oy the officers OF the company. The old board
was unanimously reelected as follows.
Prestdent-J. II. Estill.
Vice PresideRt-C. Fl. Dsrsett.
PRESIDENT Pro fem.-W. P. Schirm.
Directors-H. P. Smart, Lee Roy Myers,
=. 3. Cennerat, F. H. Thomson, w. G.
Cooper, Il. G. Cunningham. William Kehoe
n. j. Solomons.
Auditing Committee-R. G. Gaillard. G.
a. Lamotte and Max Robinson.
In connection with the amalgamation Of
the two series the directors have in view an
Increase OF the capital stock OF the company
at the proper time to 81 ,00O, 900.