1668-66 Economics, Development, & Real Estate 1895-1926 I
LA OFFICES t�
SHUTTS, SM141">5C. BOWEN •
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FRANK B.SHUTTS
WILLIAM P.SMITH - •
CRATE D.BOWEN M IA M I, PLO R I DA, July 28, 1919.
LOUIS F. SNEDIGAR
GROVER C. MCCLURE
Mr. Carl G. Fisher,
434 North Capitol Avenue, V/
Indianapolis, Indiana. •
Dear Carl:-
Miami Beach Bay Shore Company
Your letter of the 24th instant is received. I have seen Yr.
Pancoast and he agrees with your understanding of the arrangement as to divi-
sion of Stock.
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I am hoping to hold the first meeting of the incorporators on
August 16th, if possible, although, as the Governor is campaigning a good deal
these days, he is not always at his office to sign the Charter when it is ready
• to be issued. I shall hold it immediately after the Charter is received, and
want to have all the minutes and papers ready in advance.
I must have the description of the property which The Miami Beach
/ Improvement Company is tourn into the new company at an early date. I under-
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stand Mr. Brown is working/that out and will give it to me in a few days. That
`�i company must also hold a tockholders ' Meeting on the same dayto authorize its
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deed to the new company. , It will also be necessaryfor me to have the descrip-
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tf tion of the Richardson tract. If you have the deed for that tract, or can let •
me know where I can find the description, I wish you would get it to me as soon
as you can. Then at the first meeting of the Stockholders, we will adopt the
By-laws and authorize the issue of stock both to you and the Pancoast crowd and
for such cash as has been put into the work up to the date of the meeting. I
understand your land and the Collins' land is to ro in at $200 per acre. New
stock can thereafter be issued as rapidly as money is advanced to the company.
If the Richardson contract is held in the name of The Alton Beach
Realty Company, we shall also have to have a Stockholders ' Meeting of that Com-
pany authorizing the transfer.
Regarding the interest on advances heretofore made, that can be
`° handled with new stock on the date of the organization, as far as $1,000 shares
CUr can be used. If the amount of interest is less than $1,000, then we will have
to issue a promissory note to both you and the Pancoast crowd for the accrued
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interest on the amounts, respectively, Haid in by you.
I am enclosing a proxy to be signed by you for this meeting and
one for Mr. Van Doren, both running to me. Crur Mr. Bowen will represent Mr.
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Irving A. Collins at the meeting, and we will thus have Mr. Pancoast, Mr. Brown,
Mr. Bowen and myself to transact the business. I am sending a copy of this let-
ter to Mr. Irvin;* A. Collins.
As it takes about a week for letters to get back and forth between
you and me, I hope you will advise me quickly (wire preferred) where I can get
the description of the Richardson contract and as to whether it is now being
. eld by The Alton Beach Realty Company. If so, I will arrange for meetings of
all three companies at the same time. There is a good deal of work in connec-
tion with this transaction, and time is important.
Yours sincerely,
2 enols. /-- ---v>r All--4-In ,
PBS:h
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