The times., 1898-11-18
TALK OF CONSOLIDATION.
Two Large Real Estate Title Conn
panies May Join Issues.

panies May Join Issues.
II well-matured plans so through, there
is to be consolidation of the Real Es-
tate Title Insurance Company and the
Columbia Title Company in the near fu-
ture The proposition for the consoida-
tion will be voted upon at the annual
meetings of the stockholders of the COM
panies in January, and 1t is the opinion
of large holders in both that large ma
jority vote will be cast in favor of the
plan. If this proves to be the case. the
joining of the companies will take place
as soon as the details can be arranged.
Both companies are doing a fair busi-
ness despite the recent dulness in real
| estate transactions, and both are paying
per cent dividends yearly The stocks
of both companies are we'll held and con-
sidered good investments. The reason
advanced for consolidation by those who
favor the plan is that the one company
could do all the business now given to
| both and that, with expenses only very
| little larger than each is paying at pres
| ent
Only one set of officers would be requir-
ed and only one clerical force. and one
office building.
The weekly expenses of each company
! for. clerks and officers is something ike
| Sl,6e0. 4 large part of these clerks are
engaged in making very expensive dupli-
cate records of all transfers of District
real estate. One OF these records would,
of course, he superiuous.
John T. Arms. the principaI stockholder
of the real estate company. Is the chief
| promoter of the plan. He has secure!
control of a majority of the stock OF his
| company and the vote OF the company
| is assured for consolidation. The Column
! bia stock is held in small lots, scattered
! among the business men of the city ana
! il cannot be stated so accurately how Its
| vote will be thrown. 1t is known, how
| ever, that many of the largest holders
| are friendly. Mr.. Arms stated TO a re-
/ porter for The Times yesterday that he
! knew Of no large holder likely to express
! disapproval.
| 1t is understood that there has been
some talk of an attempt to delay or de-
| feat consolidation by officers In the COM
panies Mr.. Ashford. the president OF
! the Real Estate Company. Is known not To
! be entirely friendly 10 the deal. He Il
not opposed to joining the two compan-
les. but he believes that the Columbia
which is the younger, should make the
I NOl4ttSSiOiS, siCGtpllliS the PApPo7
sition of his company.
w. E. Edmonston, president of the Co
| lumbia. is not willing to accede to this
The consummation of the plan would. oi
| course. necessitate the resignation OF one
OF the presidents, or his acceptance OF .
lower position.
This partial opposition Of the officers is
| unfortunate. because of their influence
through proxy votes. which have enabled
them to carry their own plans as they
saw fit at previous meetings OF the stock
/ holders.
1t is understood that the plan provides
for the equalization of the capital OF tht
two companies, when they join. The Rea
Estate Company is capitalized at $4,000
and the Columbia at only Sl50.00O. ffft,
| thousand dollars may be added to tina
of the latter company or it may be agreed
to cut down the former.
One of the chief arguments for consoli
dation is that the strength of the new
company would be great and its It'll
guarantees in demand. The joint capital
ization would be at least $50. 900.