The morning news. [volume] (Savannah, Ga.) 1887-1900, 1900-04-17
ENCOURAGING TO sHAREHoLsERs
Atlanta Loan Association Likely to
Pay u Per Cent of Liabilities.

Mr.. G. B. Whatley, who has been for the
past ten years local counsel and represen-
tative of the Southern Home Building and
Loan Association of Atlanta, which has
recently passed into the hands of receivers
appointed by the United States Circuit
Court, returned day or two ago from
trip to the associations headquarters
where he made a careful examination OF
it's assets.
MIR. Whatley's trip was undertaken in
the interest of the local shareholders of The
association, who represent stock to the
value of something more than $4,000
There is $23,0e0 worth of stock now held in
Savannah upon which nothing has been
borrowed and probably the residual value
of the stock upon which something has
been borrowed will bring the associations
total liabilities TO its Savannah sharehold-
ers up to s32 COO or $33 600. 4.
While in Atlanta Mr.. Whatley had
conference with Judge John T. Pendleton.
one of the receivers appointed by the
court, who assured him that the associa-
ton would be able ultimately to pay to its
shareholders 70 per cent. of the face value
of their stock, representing approximate
the amount of their Investment. Mr..
Whatley himself made an examination of
the associations books aud accounts and
as result came to the same conclusion.
He took occasion to ask Judge Pendleton
also what course would be pursued by the
receivers in reference TO those sharehold-
ers and others who had borrowed from
the company ard had not completed the
payment of their loans, He was assured
that the receivers did not con template any
drastic measures to enforce the collection
of these assets of the association, that the
borrowers would be treated with all posi-
BILE consideration and permitted every in
Il Of ,af na
court would allow This will be a relief
to those of the borrowers living in Savan-
nah some of whom feared that the meas
ures that would be taken by the receivers
to collect these loans would result in the
loss of their homes.
There has heen some dissatisfaction
among the shareholders here at the APP
pointment as one of the receivers of the
association of Mr. w. II. Henderson, who
was one of its former officers The OBJ
lection was not, it would seem, to Mr..
Henderson personally, but was based on
the belief that some one who had not
had any previous official connection with
the association would have been better
able to protect their interests.
This objection is not shared by Mr..
Whatley. 1t became known TO him that
Mr. Henderson's appointment was with
the consent of counsel representing all
the parties interested and made for good
reasons. Judge Pendleton, the other re-
ceiver, is not a building and loan expert,
while Mr.. Henderson is, uniting to his
general fitness for the position a thorough
acquaintance with the business affairs
and interests of the company he is to
wind up under the direction of the court.
Both he and his colleague, Judge Pendle-
ton, are under $4,000 bonds in a surety
company. Mr.. Whauey feels much en-
couraged as a result of his visit and be
lieves that the company will be wound
up and the shareholders receive nearly or
quite the full amount of their invest
ments.