The morning news. [volume] (Savannah, Ga.) 1887-1900, 1898-01-05
COTTON MILLS BOUGHT IN.
r,,rHy BANK SECURED THE
PROPERTY FOR 100000.


had a Judgment Amounting I" 93o'-
ono Against the Company The
- will Not Go Into Cotton MIL
- 1usiness-WOuld Like to See
s,,dicate Take Hold of the
-,,,.--ConsiderabIe Southwestern
- and other Securities Sold.
The Best sales Day in Several
Months.
,-,-,s- a Judgment in the city court In
# the Southern Bank against the
H-,,,ah Cotton Mills, Sheriff 7. ]. Shelf
-old the property of that company
,,,blic outcry yesterday. The amount
ia southern Bank is $4,000, and that
1.,t,tfon was represented at the sale by
a.. George A. Mercer, Jr., who was there
"a, mat the amount of the Judgment
was realized.
NV, adding started off by Mr.. Mercer,
~, FIRST offered $4,000 for the property.
,,s.ra was one other party bidding against
49,, which carried it up to $4,000. Mr..
,,,roar then bid $4,000 for the bank, and
49,, nroperty was declared sold to him at
that figure.
The capital stock of the Savannah Cot
ION Mills is 100000, all of which has been
mt into the plant. The plant is quite a
l,al,ab,e one and contains considerable
modern machinery. Money was borrowed
Fnoro the Southern Bank for the purpose
or improving the plant and adding to the
machinery. and for a while the company
did quite well, but recently has been I'M
able to make any money
What the Southern Bank will do with
the cotton mills is not known. The bank
is not going into the cotton milling BUSH
ness. Vice President Crane says, and
would be glad to see the plant taken in
charge by some syndicate, provided the
nroper arrangements could be made. 1t
* impossible to say just at present what
Will be done in the matter, but it is not
likely that the plant will be dismembered,
or sold out piecemeal. AL the bank de-
sires is to get the money due it, and per-
hans some arrangement will be made to
nav the amount and put the mill on its
feet again.
Mr.. l. d. LaRoche sold from the es-
tate of Robert Sisson the northern three
fourths of lot No. % CurrytoWn ward
fronting sixty feet on West Broad street,
near Charlton, and running back eighty
feet with three brick dwellings, for $500;
also the southern half of lot No. p Curry
town ward, 80 by 80 feet, with improve
ments, for $l,10O
From the estate of Clayton H. Brigham
NIr. LaRoche sold one share of the capital
stock of the Citizens Bank of Savannah at
1101b; one share Of the Merchants National
Bank stock at 80; five shares of South
western railroad stock at 9315; ten shares
of Georgia Railroad Company stock at
1871; fourteen shares of the capital stock
of the Central of Georgia Bank of Macon
at SO; one $1,000 bond of the Jefferson and
Gainesville railroad for 1852 80, and ten
shares of the Hydraulic Cotton Press Com
pany at 65.
From the estate of Claus Gerken Mr..
LaRoche sold lot No % at Beaulieu for
$500. From the estate of Josephine Haber-
stetter he sold lot No. 10 and the western
portion of lot No. 90 Choctaw ward, at
Guerard and Walker streets, with improve
ments, consisting of four houses and a
store, to Frank Werm for S2,400
Mr.. Charles II. Dorset sod lot with a
two-story frame house on Jefferson street,
between Jones and Charlton for $1,O25.
Mr. John Mclaughlin sold from the es-
tate of Ephraim Regular two shares OF
Southwestern railroad stock at 9SA. He
dlSO SOFA Twenty-Five SHARES u the Cdpl-
tai stock of the Germania Bank at 1882
also one-fourth of an acre on the Augusta
road, five miles from the city, for $50.
Mr. r. II. Tatem sold from the estate
Of Euphemia Cunningham fifty-seven
shares of Southwestern railroad stock al
90 3-16; also S2400 second preference in
come bonds of the Central of Georgia
Railway Company at 15A.
Altogether, yesterday was about the
most interesting sales day for the last -four
or five months. There was not large
amount of real estate sold outside of the
Savannah cotton mills property, but the
days doings gives fair insight into the
present local security market and from
that standpoint at least proved quite in
farnctiror