The Pensacola journal. (Pensacola, Fla.) 1898-1985, 1909-01-15
Paper Which Was Submit
ted to That Body Yester-
day at the Annual Meeting
by Secretary Waterman.

The following is the annual report
Of Secretary G. A. Waterman to the
| Chamber of Commerce at its annual
meeting yesterday:
! Hen. Philip X. YOnge, president, and
Members OF the Chamber of Com
merce of Pensacola:
GentIemen+I have the honor TO
submit my first annual report as sec
rotary Of the Chamber of Commerce
OF Pensacola.
Despite depleted membership a
year ago and the virtual insolvency
OF the Chamber of Commerce when
the now retiring directory assumed
charge, the Chamber is now free from
debt, and the retiring board turns
over a balance of $3.50 and a mem
be~shiD that viii wed monthly rev
sHue of S252.50, which is $3.50 a
month more than your retiring board
has had the use of. The new board
will therefore start on a cash basis,
with funds in hand more than suffi-
cent to meet January expenses other
than the secretary's salary (which is
payable out of February cOllections)
and revenues in excess of the past
year more than sufficient to do not
little of the publicity work which
your retiring board has been unable
TO do because of lack Of funds.
Itself in an unhealthy condition,
with past due debts exceeding $500,
the chamber entered the past year
usder especially inauspicious circun-
stances because of the money strin-
gency. With basic conditions heavily
against the chamber il has meverthe-
less accomplished no small measure Of
success, and even in cases where eff
fort has rot crystallized in accom-
pIishment, the stereOtyped expression,
reports progress" can be fairly TAX
en- as bright prospect, if not the &C
tUal promise, of ultimate success.
In that which constitutes the most
convincing single proof that Pensa-
cola, is progressing, the Chamber of
Commerce can not Justly be denied a
great share of the praise due those
responsible. / have reference to the
new hotel, fiTeprOof and modern in all
respects, which, in its lessee and its
seven stories will guarantee visitors
to Pensacola accommodations second
to none in the south, if anywhere in
the country. But it is first in order
TO discuss the finances and the mem
beTship of the Chamber of Commerce.
Membership.
The new board of directors
took charge at the end of last
January with a membership of "a.
Since then, "a new members have
been added to the roll, have resign
Ell and two have gone out of business
"a net gain of Is members, with one
application pending, having been re-
ceiYed since the last meeting of the
directors. The membership counting
the pending application. stands today
therefore, at los. OF these, four are
probably useless delinquent assets,
are good for their dues,
though very irregular. Three mem
bers this morning paid 1909 dues in
adVanc The present membership
dependable for regular monthly pay
mGntS is therefore 80, yielding a regu-
lar revenue of S247-50 a month, with
two irregular payers who, on the pres
enJ roll, will make a monthly average
income of S252.50. Elsewhere I show
how the retiring board had the use of
hut $215.99 monthly average.
Finances.
At the opening of the last directory
year. on February l, 1908. tne books
showed a cash balance of S11.50. with
current revenue of S235.O0
Per month, and debts due and pay
able prior to February l of $413.33. !
All current expenses for February
were paid in March out of collections
OF February dues. and S395.43 of the /
old debts was retired with the pro-
CeCdS of delinquent collections and |
the collection of dues in advance from !
Is members. Old debts aggragating !
$3.50 were later proved and APPROX |
ed. and retired as soon as the claims !
were proved.
The collection in March of advance !
dues. March TO December. both incIus. !
i've from Is members. seriously Grip /
pied the finances of the chamber, but /
the administration was able to keep /
on a cash basis until last month. The /
secretary established the rule of pay
ing all other expenses ahead of the !
secretary's salary. Last month, in 4
order to pay the secretary in full for 4
the board was compelled /
to borrow from the fiscal agent. This /
note was retired this morning. The /
financial summary for the retiring di- /
reCt0ry. Feb l to Dec. 81, shows:
Balance, Feb. l, 190S.....S 11.50 /
Dues collected to Dec. 81. 2I1S.I5 !
Refunded by Pensacola Hotel
company, amt. expended by
the Chamber of Commerce
committee in promoting said
hotel company -. 49,. 1905
Banquet subscriptions 1890 114.00 |
Proceeds note for So at IS
days 800. ........ 1925
$3O25.55
Expended
tNG nQueI .s-.--S lUt-OU /!