The Savannah morning news. (Savannah, Ga.) 1900-current, 1903-10-30
TO DISMISS TRUSTEE
COL. EsTILL TRUSTEE FOR BOND
HOLDERS FOR 10 YEARS.
BONDS HAVE ALL BEEN PAID.
FIRST REGIMENT WILL RECORD
ENHANCEMENT OF DEBT.

100000 Mortgage Executed in 1887
and Long since Paid Up Has Never
Been Cancelled of RecOrd-Trus-
tee Has Not Been Discharged,
Matter Brought to Attention OF
Board of Officers and steps Taken
to Cancel Debt on the Records
and Have Trustee Dismissed.
Proceedings will shortly be had in
the Superior Court for the
dismissal of Col ]. H. Estill as trus-
tee for the bondholders of the First
Volunteer Regiment of Georgia, now
known as the First Regiment of In
fantry, Georgia State Troops.
With Col c. H. Olmstead, Col. Estill
was appointed trustee for the bond
holders in pursuance Of a resolution of
the board of officers of the regiment to
issue bonds fors 100000. The date of
the appointment was Dec. 81, 1887, and
though the bonds have long since been
redeemed, there is no cancellation of
record, and Col Estill still remains
trustee, Col Olmstead having removed
from the state.
The matter was brought to the at
tention of the board of officers a few
days ago. An examination of the rec
ord showed that no cancellation of the
trust deed had been entered of record
and the surviving trustee had
never been removed. The mat
ter has been referred by the board
of officers to Col A. r. Lawton, who is
familiar with the proceedings, and will
prepare the cancellation and other nee
essary papers at once.
How the Property Was Acquired.
The proceedings will recall some in
teresting facts in connection with the
issuance of the bonds and the purchase
of the property. Lots SO, Sc, 81, 60 and
81 Forsyth ward upon which the armo-
ry is situated, were bought by the
First Regiment in 1885, the first three
named having been formerly the prop
erty of the Georgia Military Academy,
containing the academy buildings, and
the last two having been conveyed to
tlG lGSlliGlll NY tic 4hdyOl anu AL
dermen of the city of Savannah. by
deed, dated Jan. IL, 1885.
Few people know that the two lots
which were bought from the city were
purchased at public sale at a total cost
of 81 each. The deed itself is an in
teresting document. 1t recites that the
regiment had made application for the
sale of the lots, and that under an al
dermanic resolution it was provided
that in an applications for sale of city
lots they should be appraised at a
minimum figure. In conformity with
this resolution. a minimum appraise-
ment of 81 each was placed on the lots.
They We're sold before the Court
House, July 1, 1884, by L. L. Good
win, city marshal. and were bid in by
the First Volunteer Regiment for 81
each.
some Interesting Signatures.
The deed was signed by the Mayor
and Aldermen, who were at that time
as follows: Mayor, Rufus E. Lester;
Aldermen Samuel p. Hamilton, d. r.
Thomas, William B. Nell, Andrew
Hanley, P. ]. O'Conuor, J. J. Wilder,
Ed M Green. ]. F. Minis, John Derst,
George NJ Nichols, David Wells and
a. II.
ment at that time were Clifford w.
Anderson, colonel; Peter Reilly. lieu
tenant colonel; John Schwarz. moj or;
G. A. Mercer, captain of Republican
Blues; John Flannery, commanding
Irish Jasper Greens; Robert Falligant,
captain of Oglethorpe Light Infantry;
John Derst, commanding German Vol
unteers, and Hamilton. M. Branch,
captain of the Savannah Cadets.
The lots were >mortgaged to E. A.
Well James K. Clarke and John Elan
merry, April 81 1887, for $1,000, the
mortgage being signed by former Capt.
Mercer, as colonel commanding, he
having attained that rank in two years.
The other commanding officers of the
several companies were the same, with
the exception of the Republican Blues,
of which William d. Dixon was cap
tain.
Trust Fully Discharged.
=, The same year that the mortgage
was executed, the bonds were issued
The $4,000 worth of bonds were to
run for thirty years, there being a pro-
vision for earlier redemption. 1t was
agreed in the trust deed that If the
trustees, or either of them, should die
or resign or be otherwise displaced, his
place should be supplied by the board
of officers of the regiment, or on fail
ure so to do upon application of any
bondholder. then the Judge of the SUI
perior Court should fill the vacancy.
There appears of record no application
of any bondholder for the appointment
of another trustee, and for some time
Col. Estill has been the sole trustee.
The trust imposed having been fully
executed. the proper proceedings will
be had to effect his discharge.