The morning news. [volume] (Savannah, Ga.) 1887-1900, 1895-10-18
THE CHATHAM REAL ESTATE.
The Annual Reports of the COmpany's
Oniccrs snhmifteh.

Officers submitted.
/ There was not "a quorum al the annual
meeting OF stockholders OF the Chatham
Real Estate and Improvement Company
last night. A number Of stockholders
met in pursuance 10 the call for the an
/ nual meeting. Mr.. d. j. Morgan was
I elected chairman and Mr.. 81. J. Solomons
] acted as secretary. a count Of the prOX-
I les showed that but l.6l3 shares were
I represented and the meeting adjourned
until next Thursday, oct. p at S o'clock
/ p m.
The annual reports Of the president and
Z of the secretary and treasurer We're read
last night President j. II. Es-in, after
I aluding 10 his absence from the city on
T account Of the illness Of one Of his fam
I ny said.
THE affairs Of the company. / am pleas
I eli TO be able TO say, are as they have al
ways been, in a prosperous condition. Tie
troubles which have attended the careers
Of some somewhat similar institutions
have been unknown to ours our reputa-
ton as one of the solid and solvent mutual
loan companies OF the country has been
funy maIntained, as is evidenced by the
premium paid in open market for It's two
series OF stock.
we have assisted during the past year
number of stockholders who were un-
able to meet their assessments, by es-
tending their loans 10 longer periods,
and thereby reducing their monthly pay-
ments. OppOrtune relief Of this kind has
enabled such stockholders to weather the
hard times. Ii is only possible TO carry
out the OstcnSible purposes of a mutual
loan company by protecting borrowing
stockholders as TAR as II can be done
without jeOpardizing the interests of the
other stockholders.
our company is managed in behalf OF
every
granaizement ef the favored few, VINO
receive large salaries for their services
ana large percentages for their invest
ments Its dividends are alike to all STOCK
holders, and its salary list is probably
the smallest known for a company with
a capital OF nearly half million Of dol
lars.
Il think we can. with commendable
PRIDE, point TO our record of ten years.
The tenth year of our corporate existence
was completed on June 30 last, being the
end of our fiscal year. The success or
the company has been phenomenal it
mas been successful not only in pay
ing large dividends regularly TO
It's stockholders, but Its greatest sue
cess has been in giving material assist
ance 10 the home-seekers In securing
homes and in building up the waste places
OF our city. We represent nearly a hair
million OF dollars, gathered IN small
amounts from our own people-home CAPT
tai invested entirely at home for the bene-
nj OF our stockholders and the community
in which they live
Gould history be written Of the assist
ance rendered. of the houses built, of the
homes procured, repaired and improved
NE volume would be amazing, even tc
those VINO nave for ten years been ac-
lively at work in these matters. You.
the stockholders, are to be congratulated
upon the results accomplished from the
aggregation of your savings in the mag
nihcent corporation which commands the
respect Of the capitalists of this solid
conservative city. Every stockholder can
contribute to the continued prosperity of
the company by recommending il TO friends
as the best means through which to OBJ
tain homes.
During the present year there have
been at times large Accommodations Of
money on our hands, caused by the dun
times ana the cessation of building. ANY
long con tinued idleness of capital tells
greatly in the semi-annual summing UP
OF earnings 1t is to be hoped that new
STIMULUS Will be given by the general i'm
provement in the times to our stockhold-
ers TO become borrowers from the company
ana keep our capital in active use.
IN this connection the attention Of the
stockholders Is directed to the lots be-
longing TO the company, which are al
mlranly located for houses. Special ad-
Vahtages are extended to stockholders for
the purchase OF these and the building az
residences on easy terms.
Under the resolutions passed at the
last meeting OF stockholders the direct
ors nave given careful consideration to
the SUBJECT OF consolidating the two Sc
rTes Of stock, "A and b. but so far
they have been unable to mature a plan
OF amalgamation, which, in their opin-
ion. would meet the approval of the hold
ers OF both series, The proposed consoli-
cation IS more a matter OF sentiment than
one or necessity, and action upon il can
be postponed indefinitely without detri-
ment to any interests. The directors how
ever viii continue TO give the subject
their attention and may agree upon a
plan of amalgamation which will be sat-
lstaetory 10 all concerned before the next
annual meeting.
Nothing has been done towards dispos-
ing or the real estate owned by series A
but Il is to be hoped that with the return
ing business prosperity of the country, in
which Savannah will undoubtedly share
those valuable investments will find a
ready sale
The details of the financial transac-
tions of the company for the last fiscal
year VIII be found in the annual report
OF the secretary and treasurer, which it
VIII repay You to examine.
The books and accounts of the company
nave been examined and reported upon
every month by your auditing committee
This committee, Independent as il is of
your officers and directors, is one of the
best safeguards to the prosperity of YOUR
company and its reports guarantee that
your investments are safe and are prop
erly managed.
I'm closing this report. allow me to say
that the prosperity of the Chatham Real
Estate and Improvement Company is
largely due to your efficient secretary and
treasurer, and his capable assistant, and
to your vice president and directors, all OF
ing its best interests"
Secretary and Treasurer Solomons' re-
port makes an excellent showing for the
company. The report is for the year end
ing June 80, and shows for series A, loans
to stockholders, S2S1. 933. %; property ac-
count SS75.6l; stock interests az A, 10
b, $l272.0S. real estate, improved, Sc 026. 81 /:
sundry interest due, 81 S42S7; in
vestments. S26. 550.14; cash on hand, 81 2S5. al
a total of 1922 .2S6.1S; due to stockholders,
SS00000.00; unearned interest, So 72S. 10: un-
paid dividends S152.25 dividends declared
H.75 per share, $lO,5000O; payments in ad-
99l .9S w.
Series p under the following showing:
Loans to stockholders, HSS, 1851; real es-
tate. SS.22002; recording account, 1874; in
terest due, $24S. Is; property account, S246. 76:
stock investments, Is b. $500 40; cash on
hand, sS,529.57; total 1886, S52.7I Due to
stockholders. $lSS.05O; payments in ad-
vance, $50; dividends unpaid. sl50.5O divi-
dends declared, $l75 per share, S6.5Sl. "a:
balance profit and loss, $1,5l5.46.
Copies of the secretary's and treasurer s
report will be distributed from the compa-
nys office.
THE LYCEUM'S ATTR q CTIONS