Extraordinary General Meeting.
An extraordinary general meeting of the shareholders in the Astor House Hotel Company, Ld., was held at the Astor House on Friday evening, There were present Messrs. W. S. Jackson (Chair man), ©. R. Burkill, W. Drosemeier, A. Vernon, Directors, A. P. Stokes, Legal Adviser, A. R. Leake, Auditor, and upwards of forty shareholders.
Mr. J. A. W. Loureiro having read the notice cot ing the meeting, The Chairman said that the first. resolution to be submitted to the meeting was as follows "That the Directors be authorised by the shareholders to conclude certain negotiations now pending and to complete without delay the purchase of the balance of the Lease of the property on which the Hotel des Colonies stands, and also the goodwill, business, furniture, and wines, ete., of the said Hotel des Colonies, the purchase price to be 1,500 fully paid up shares of the Astor Hotel Ca., Ld. (face value $100 each); such shares to rank for dividends accruing after 1/7/02, the business of the Hotel des Colonies to belong to the Company as from date of completion of purchase."
Continuing, the Chairman said that on the 23rd January a letter was received from Messrs; Browett and Ellis offering the Directors the purchase of the balance of the lease, the good will, furniture, stock, ete., of the Hotel des Colonies, in return for 1,500 fully paid-up shares of the Astor House Hotel Company, La. The Directors declined the offer on those terms, but tried to negotiate for the purchase for a smaller number of shares. They failed to negotiate the purchase for a less price and were also unsuccessful in obtaining from Messrs. Browett and Ellis the names of the vendors. Messrs. Browett and Ellis said that if the Directors did not wish to purchase on the terms offered, they could let the matter alone. The present Directors thought it would be a good thing to purchase, but their late Chairman was against it, 50 much so that he resigned his seat: rather than put the proposal before the meeting. That was the reason why ho (the speaker) was occupying the chair on that occasion. The property offered to them consisted of three lots. First, the Hotel des Colonies second, the Annexe; third, the two houses, with godowns, in the Rue clu Consulat. "He would describe the property so that they might know the full details. The hotel was owned by the Jesuit Fathers and leased to Mr. F. Ellis for twenty years, from January, 1902, at Tls. 400 per month, subject to an increase in five years; all repairs and taxes to be borne by the lessees. There was a clause in the lease which called for the consent of the owners before the hotel could be sold to a limited company, and if this resolution was passed the consent of the owners to the sale would have to be obtained by the
Text read from the printed page and cleaned; old type leaves the occasional error.