The morning news. [volume] (Savannah, Ga.) 1887-1900, 1896-01-26
WILL GO OUT OF BUSINESS.
MUTUAL CO-OPERATIVE AssOCIA-
TION TO DISSOLVE.


Into Courts and VIII Probably Ask
for a Receiver In order to Prevent
Dissolution of the AssOciatiOn-A
Lively Fight Against Dissolution
Made by the MinOrity-Tney Charge
That sixty of Those Present and
Voting Were Made Members After
IL O'Clock Yesterday.
A meeting Of the Mutual Cooperative
Association was held last night TO pass
upon the question Of its continuance or
discOnunuance II was decided by a
vote Of a TO 2 10 dispose Of the assets or
the association and wind up its affairs.
The minority stockholders viii take the
question into court. however. and viii en-
deavor 10 prevent the carrying out Of the
resolution. If necessary. they say they
will put the concern into the hands of a
receiver.
The meeting was held in the supper
room of the odd Fellows hall. and was
! largely attended by the stockholders the
room being entirely filled. President A.
a. Aveilhe having rendered his resigna-
ton, Vice President II. +. Hutchens, pre-
sided. As was expected, the meeting was
lively one. and the discussion lengthy.
1t was after IL o'clock when the meeting
adjourned. There was an avoidance or
acrimonious discussion and unpleasant
personalities, however. which was ex-
pected on account OF the charges when
/ have been passing back and forth since
the fight between the two factions devel-
] oped. The chairman. in taking the chair,
very wisely cautioned the members on
/ this point, and his request was acQuiesced
| in.
The first matter which came before the
| meeting was the resignation of President
Aveilhe. An objection was raised to the
acceptance Of the resignation while mat
ters pertaining TO his official duties were
under consideration. The resignation was
| accepted, however, by a small majority.
The next business was the report of the
committee appointed at the previous
meeting to investigate the matter Of the
/ lease Of the store for the purpose Of find
! ing out now It was that the management
! mad allowed the store occupied by the
association to be leased away from it,
me report entered into a lengthy eXpla-
! nation of how the lease was lost stating
! IN erect that Mr.. A. r. FaWcett repre-
! sehtlng the owners of the building, had
! gone 10 Mr. Van Horne the associations
/ agent, and demanded a written contract
/ Tor three years, which Mr.. Van Horne
MI. AVeilhe and Mr.. T. L. Youman, sec
IetdTy ana treasurer, would not agree TO /;
/ now there had been various. conferences
! between these officers and Mr.. FaWcett
without result; how the officers had ex-
! amined other buildings with a view 10
! changing the location, with a final result
/ mat the building was leased by unknown
| parties
The report brought on a lengthy discus
| sion. 1t had been freely charged since
! inc previous meeting that Messrs.
| AVellhe Houmans and Van Horne had
| leased the building with a view TO secur-
| ing the control of the business and that
! their purpose i'm winding UP the business
hnr I'll
| charges could not be substantiated how
| ever, and were not made before the meet
| ing. This was the inwardness Of the
| Wnole HBht however, and was known to
| all present. Mr.. Youman stated that he
mad nothing TO do with leasing the place
ana that ne knew nothing about the lease
motion to have Mr. Van Horne come
| before the meeting and make a statement
or the manner in which the building came
| TO be leased away from the association
was carried after much discussion.
| Mr.. van Horne's statement was sub
stantially on the same line as that made
! by the committee. He asserted positively
! that he had no hand in the leasing of the
! building, and that he did not know who
| that Mr.. Fawcett had refused to inform
/ him who We're the lessees of the building
! but that he had said positively that
| Messrs. AVeilhe, Houmans and Van Horne
| We're not the lessees. Mr.. Mcguire said
! that he stated this in justice to the three
| gentlemen named. The report was finally
| laid on the table
One of the main features Of the dis
| cussion was the continued objection of
| the minority to the presence and partici-
! patton in the meeting of a number of new
| stockholders. whom IL was charged had
! become stockholders sine noon yesterday,
! having had stock transferred to them by
! the majority stockholders. Under the
| constitution of the association a stock
holder Is entitled to only one vote, no
matter how many shares of stock he may
| own
The. association was an outgrowth of
the Employees Mutual Relief Association
OF the savannah, Florida and Western and
| Charleston and Savannah railways, and
| to become a Stockholder 1T was necessary
| to first become a member of the employees
| association. The minority, led by Messrs.
| j. f. Mcguire and James Gallagher as
serted that a majority of the entire num-
Der present were of the newly manufac-
tured stockholders; that these transfers
| of stock were for an improper purpose,
and that the new stockholders should not
| be allowed to participate in the proceed
! ings of the meeting. The chairman ruled
against them, but protest was made on
| each vote taken.
The question of dissolution came up on
| the following resolution offered by Mr..
w r. Pinckney of Charleston
Whereas, The affairs of this association
| are not in a satisfactory condition by rea-
! son of the loss of the commissary trade
| heretofore enjoyed by it; by the leasing of
the premises now occupied by the associa-
the failure of the cooperative feature of
the association.
Ana, whereas, lnefe mas Deen partial
distribution in August, 1895. of the assets
to-wit the sum of $l1925.00. in cash. among
the stockholders equal to $50 per cent of
the capital stock. where by the CONNER
cial credit of the association has been inn
paired,
And, whereas, There is a want of har-
mony among the stockholders, resulting
in the resignation of the president and a
destruction of that unity of purpose which
is essential to the success of cooperative
| association.
And whereas There are outstanding
contracts with employees for terms of SER
vice not yet expired and for rent. amount
ing to about s., 500; and for purchases OF
goods and incidental expenses amounting
on December 81, 1895, to S7.75445
And whereas continuance of the bust
ness of the association viii probably re-
suit in a great loss to the stockholders,
Therefore be il resolved:
!. That the corporation be dissolved by
the surrender of its franchises, and that
the president be authorized to take such
steps as may be legally necessary to effect
such dissolution.
2 That the president be instructed to
advertise daily for one week in the Morn
ing News and Savannah Press, for cash
bids for the assets of every class and char