The times dispatch. [volume] (Richmond, Va.) 1903-1914, 1910-05-27
CHAMBER AGREES
ON BUILDING SALE
Stockholders Hold Meeting and
Concur With Active
Members.
NEW STRUCTURE LIK ELY
President Wood Believes $4,000
Front Foot Is Low
Price.

BY unanimous vote the stakeholder:
/ OF the Chamber of Commerce. at
meeting held yesterday afternoon, con.
| Cured in the recent action of the ac-
| tive members in declaring that 1.-THE
best interests of the chamber Will be
| promoted by sale of the present
building and the ground on which it Is
located" Following this action the
stockholders adjourned to meet rcxi
Thursday afternoon with the active
members. when the joint meeting will
receive the report of the committee
appointed to dispose of the building.
An Intellectual attempt was made ny
John Garland Pollard to secure the
adoption of an amendment empower
ing the committee merely to treat for
the sale of the property, receive bids
and report While 1t was agreed tina:
the committee could not take action
Commerce, it was deemed best to let
the resolution stand, so as to make 1.
uniform with that adopted by the &C
tive members.
Meeting To-Day.
II Is stated positively that no prop
osition for the purchase of the proper.?
has as yet been made, that being de-
ferred until after yesterdays action ol
the stockholders The committee ha.
been called to meet this afternoon at S
O'Clock. when II Is presumed some den-
mite action will be determined upon
for the sale OF the lot and building.
President Henry w. Wood presided
It was found that 3sI of the 622 shares
of stock were represented.
L. 2. Morris offered resolution
which. after recounting the terms OF
the action taken on May 5 by the activ,
members. proceeded:
"Therefore be It resolved. That this
meeting of the stockholders of ths
chamber approves of, and concurs In
the recommendations and resolutions
adopted at the general meeting of the
chamber held on May 5. 1910. and. sec
| ond. that the question OF disposing ri
I said building and the ground on which
| 1t is located he, and the same is hereby
referred 10 the executive. finance ant
building committees of the chamber
with nower TO dispose of said buildint
and the ground on which it is located
on the best terms obtainable, said com
mittees to report to an adjourned
meeting of the stockholders and cham
her, respectively. their action hereun
der for confirmation or rejection. THIRD
that this meeting be adjourned until
o'clock on June .. 1910. at this place.
Discussion Unwise.
j. c. Freeman said he realized
, might be unwise to have discussio
al this time of the reasons for sellin
the property. and that for his part r
was willing to agree in whatever de
i y, On ,,,1if
tee. so great was his confidence In II
4 Judgment and patriotism. He there
fore seconded the resolution
Judge George l.. Christian cxpla.ne
the legal situation. showing the Tow
ers vested in the active resident mon
/ hers and the interest of the stockhold
ers in the property. 1t had nee
thought best, he said, that the ccnsen
4 Of both bodies should be obtained.
That the language of part of tn
Morris resolution appeared To cloth
the committee with full power 70 50
was the opinion of John Garland Pc
lard Mr.. Pollard thought thu resolr
ton should be amended so as n pei
nit the committee to negotiate for n
sale and then report to the ioint rncsl
.,nr of members and stockholders.
.Iidge Christian at first saw no OF
lection to this. hut later decided
would be best TO let the matter stan
as in the original, since IN that way
agreed In wording with the resoluto
adopted by tho active members,
said that the language was the san
as that used bv all courts In this sta
IN decreeing the sale of property, a
though reports were always necessas
for ratification or rejection.
WIN Committee.
some little discussion Of the prop
: sition followed One stockhold
thought a better sale might be made
: (. we're understood that the commit
= mad fun power to treat. Another sa
g the stockholders did not attend Z
I'll meetings anyway thereby shown
= that they were satisfied with the a
:, tions OF their proxy holders
"a Mr. Pollard however, Insisted up
q biz amendment, which was lost by
= decisive majority, The resolution
Y. offered By Mr.. Morris was then ADOPT
:. Followine this action, Preside
Wood made a short talk lie said
m thought a mistake would be made
q. thn committee agreed 10 accept i
" ,bnn $4,000 a front foot for the proper
e. In tho city OF Toronto, Canada, he said
~ lot not so well situated brought ss,f
foot and an offer Of 10000 "
made for another piece OF property.
understood also that Atlanta Yalt
were higher than In Richmond AZ
pethcr. considering prices IN OIL
cities at $4,000 o foot y would pe
I fine Investment for capital ENe
\ thousand OF population adheo 10 IN
\ mond" he said, "increaGcs the Yalue
property In the central BUSINESS -