The Savannah morning news. (Savannah, Ga.) 1900-current, 1904-10-14
REALTY COMPANY
WAS ORGANIZED
TO ERECT BANK BUILDING.
OFFICERS ELECTED YESTERDAY
AND CONTRACT WAS THEN SIGNED.

National Realty Company Will own
New Building That Is to he Put
Up tor the National Bank of Sa-
vannah and the OgIethOrpe Saw
ings and Trust COmpany-Al1
stock in the New Company, How
ever, Is Owned by Bank or Trust
COmpany-AIready Started to
Tearing Down Old buildings.
Building Permit Issued.
The National Realty Company,
building for the National Bank of Sa-
vannah and the Oglethorpe Savings
and Trust Company, was organized
yesterday. A charter for the company,
it will be remembered, was secured
several months ago from the Superior
Court.
Only the officers of either the Ma
tional Bank or the Oglethorpe Com
pany are officers in the new company.
All stock in the company is owned by
the bank and trust company. Mayor
Herman Myers, the president of the
bank and of the trust company, was
made president of the realty company.
The contract for the building was
signed yesterday afternoon at 4 o'clock
in the office of the architect, Mr.. H.
W. Witcover. Mayor Myers signed the
contract for the new company, and Mr..
r. P. Taylor signed for the General
Supply and Construction Company of
New York, which is to put UP the
building.
Officers of Company.
The board of directors of the National
Realty Company is composed of Her
man Myers, George j. Baldwin. Jacob
Paulsen, Samuel Meinhard, James M.
Dixon, Jacob Collins and William
Kehoe. Mr. Myers was elected presi-
dent and John NJ. Bryan, secretary
and treasurer. Until the company was
formally organized, the contract for the
building could not be signed.
The title to the new building will
be in the realty company, though the
bank and the trust company together
own all the stock in that company
This Independent corporation will erect
and run the building, collect all rents
the trust company will receive the
proceeds from the building, less ex-
penses, as dividends at stated inter-
walls.
Work Already Started.
The work of tearing away the old
structures on the building site was
started yesterday morning. Some OF
the tenants. however, have been given
permission to remain until Monday
and work on all the buildings will not
be begun until next week, therefore.
Masterson's cigar stand, Nichols shoe
store and Wilson's photograph gallery
have all been given permission by Mr.
Taylor to stay until Monday. Some
of them will move out Saturday, how
aver.
The clearing away of the old build
ings will take a very short time, it is
thought. A plant of the General Sup
ply and Construction Company, which
is at Galveston, where the company
has just erected a large building, has
been wired for. 1t will be about Nov
/, Mr.. Taylor says, before work or
the foundations of the building il
started. It will take some time to gel
the material here and to make the ex-
cavations. After signing the contract
Mr.. Taylor accompanied by Archi.
tect Witcover, called at the Office Of
the building inspector and secured E
permit for the building. While the
building is being erected, Mr.. Taylor
will have an office in Johnson Square
just where the office of the contractor
for the Germania Bank building was
located. Work on this temporary
structure will be started at once