The Savannah morning news. (Savannah, Ga.) 1900-current, 1901-10-18
CHATHAM REAL ESTATE co.
u.,d It's sixteenth Annual Meeting
Last Night.

company was held last night at |
49,. eompany's office. No. IA Bryan
~ east. The attendance of stock
sues was larger than it has been for
rs Five thousand four hundred |
rhirty-six shares were represented |
ether in person or by proxy.
The meeting was organized in calling
So, n B. Morgan to the chair, and
49,. election of Mr.. NJ. S. Baker, sec
rotary. 49,. ,s;s+ine oe Messrs
-, We'll, Edward DeMere and F.
4, Garden was appointed to examine
.,o,,ies and after their report, the min
p.os If the last meeting of stockholders
'.sra read and approved.
rba treasurer's report was presented
- ordered spread on the minutes. 1t
at'o,vad the condition of the company,
I,ne so, 1901, to be as follows:
series A-To loans to stockholders,
,otT 502 %: to office furniture and fix
go S9O2. SO; to real estate, $65,04S.41;
~ interest due, $1,S50.25; to Series B,
sSo6 40: 10 cash on hand, 1888. 95-$Sl4,-
CO. "a BY due stockholders, $3OO,OOO.00;
Sy, loans passed and not discussed,
- 900 II. by dividends unpaid, $4,000;
%v dividend No. o. payable July 8, 1901,
"a 10000; by surplus, ~, 2f.S2-$Sl4,-
SO443 ..,.,o,s
s1S7 211.74: to Office furniture and nix
tI,rss Sl99.O1; to real estate, $2S,6l0.79;
~ interest due, 81, 1880; to cash on
bsrd SSS6. 20-$212,S 42.74. By due stock
hoiders $500 100000; by bills payable,
20 eSl a: by loans passed and not dis
Snrsed Sl2O.16; by dividends unpaid.
s2S9.0O; by dividend No. 16, payable
July s, 1901, 100000; by surplus, $S,-
95SS5; by Series A, O0.O0-$2l2,S4274.
follows. and it was received ana Or
dered inserted in the minutes:
...Tbis is the sixteenth annual meet
tho The business of your company
for the fiscal year ending the 3Oth of
Tnne is fully presented to you in the
rAnort of the treasurer, which you nave
before you.
"In Series "a" there has been a re-
duction of 81, 7OO.S3 in the surplus, part
ot which is due to having to ADJUST
hack taxes, and the balance to the
usual fluctuations IN such an account.
In the same series the real estate ac-
count has been reduced by sales OF
property in the amount of $5,S77S0, as
compared with it's holdings at the date
of previous report, June 80, 1900.
In Series "B" there has been an IN
crease in the surplus of $1,711 Sc, max
ing the total surplus of the company
practically what it was in the previous
annual report. The real estate in =" b
has been increased 5000 sc, due to the
taking on of piece of property on
which we had loan, and which is now
leased to it's former owner, and is earn
ing 7 per cent. net. This property can
be readily sold for what we had to
take it for, and will probably be dis
posed of during the coming year.
In the real estate account there are
S. unimproved lots on the eastern side
of the city, and on the western side.
The remainder of the real estate &C
count comprises pieces of improved
real estate, which were taken for I'M
paid loans from which the company is
now receiving rent.
1T is the policy of the board of direc
tors to dispose of your real estate as
rapidly as possible, but there is no
necessity for making forced sales.
These holdings afford an excellent
opportunity for stockholders to secure
lots and build homes, or buy improved
property, which they can pay for on
our liberal instalment plan. and hope
tina ONE of them will avail themselves
q of it,
Since the annual report was made
Il Up lI4C lEdl GcLd le account OF series
"A has been reduced $500 by sale of
improved and unimproved property.
1T only remains for me to state that
the affairs of the corporation are in
Their usual satisfactory condition, and
us business is being conducted on the
same lines as heretofore.
Inc death of your secretary and
Treasurer, the late M. ]. Solomons. is
known to you. He was not only an
oHcer OF the corporation, and devoted
70 JUS interests, but the personal friend
oI each stockholder. He was the orig
Hidtor OF the plan on which the com
pany is operated he studied out the
scheme by which a building and loan
ASSOCIATION could be operated upon a
mutual plan, and loans made upon
property at comparatively low rate
oi interest, with safety and profit to
tHose VINO were not borrowers. He
submitted the plan to a number of
Ii!enus' VINO were or had been inter-
esteu IN the management of what are
ow known as the old time building
anu loan associations, and with their
approval and support organized this
oGHlpany. l do not intend to lessen
mllat credit may be due to other as
SUIVldtlohs, when / say that to the
CHetham X. +. e. l. Co., the offspring
VI mr. Solomons' brain, is due the
SIedler part of the improvements in
savannah during the past sixteen
years. Mr. Solomons was a man of a
hinuiy and familiar disposition, and
ms ms friendly manner fitted well with
ste uulles of the office which he filled
o any Tor many years. He has passed
way nut his good work, this liberal
ia .u successful company, is an endur-
is monument to his memory, more
ling IMAM one of brass or marble"
ne election of officers was next in
Co, Mr. John Powers nominated
, Uol Estill for president, and he was
una nlmously elected.
mr. Ed Demere nominated the fol-
ling gentlemen for directors, and
SS We're unanimously elected: H. P.
mart Lee Roy Myers, c. S. Connerat,
WI Dorset. II. c. Cunningham,
'mudm kehoe, j. Randolph Anderson.
III ,. Platchek nominated the follow
ps gentlemen as auditing committee
~, w. (Iaillard, M. S. Baker, F. G. Bell,
'',I they were elected.
MI' {. S. Wood moved that the ap-
r, Yaul'Ihent of the same committee that
ns Nc" appointed by the directors to pre-
NJ resolutions on the death of Mr..
d. Solomons be authorized to repre-
sr AMY ms ms meeting for the same purpose,
me motion was carried.
hlTES VERSUS BLUES.