Letter from Sydney Octavius Chase to Joshua Coffin Chase (July 11, 1924)
Dublin Core
Title
Letter from Sydney Octavius Chase to Joshua Coffin Chase (July 11, 1924)
Alternative Title
Chase Correspondence (July 11, 1924)
Subject
Chase, Sydney Octavius, 1860-1941
Chase, Joshua Coffin, 1858-1948
Citrus fruit industry--Florida
Florida Citrus Exchange
Insurance--Florida
Description
An original letter of correspondence between brothers and business partners Sydney Octavius Chase and Joshua Coffin Chase. Topics discussed in the letter include the Florida Citrus Exchange's guarantee policy with the Hartford Insurance Company, the freeze on co-operative associations in 1923, and the burden placed on taxpayers for this type of financing.
Chase & Company was established in 1884 by brothers Sydney Octavius Chase and Joshua Coffin Chase. The company sold insurance and later invested in storage facilities and fertilizer sales. Chase & Company was known mainly for its agricultural interests and maintained a series of citrus groves throughout Central Florida. The company was based out of Sanford and became one of the city's largest employers into the early twentieth century.
Chase & Company was established in 1884 by brothers Sydney Octavius Chase and Joshua Coffin Chase. The company sold insurance and later invested in storage facilities and fertilizer sales. Chase & Company was known mainly for its agricultural interests and maintained a series of citrus groves throughout Central Florida. The company was based out of Sanford and became one of the city's largest employers into the early twentieth century.
Creator
Chase, Sydney Octavius
Source
Original letter from Sydney Octavius Chase to Joshua Coffin Chase, July 11, 1924: Chase Collection (MS 14), box 7, folder 14.11, Special and Area Studies Collections, George A. Smathers Libraries, University of Florida, Gainesville, Florida.
Date Created
1924-07-11
Is Format Of
Digital reproduction of original letter from Sydney Octavius Chase to Joshua Coffin Chase, July 11, 1924.
Is Part Of
Chase Collection (MS 14), box 7, folder 14.11, Special and Area Studies Collections, George A. Smathers Libraries, University of Florida, Gainesville, Florida.
Florida Citrus Exchange Collection, Citrus Collection, Chase Collection, RICHES of Central Florida.
Is Referenced By
Folder referenced in Chase Collection finding guide, http://web.uflib.ufl.edu/spec/pkyonge/chase.htm.
Requires
Format
application/pdf
Extent
1.35 MB
Medium
1-page typewritten letter on Chase & Company letterhead
Language
eng
Type
Text
Coverage
Sanford, Florida
Jacksonville, Florida
Accrual Method
Donation
Mediator
History Teacher
Civics/Government Teacher
Economics Teacher
Provenance
Entire Chase Collection is comprised of four separate accessions from various donors, including Cecilia Johnson, the granddaughter of Joshua Coffin Chase and the children of Randall Chase.
Rights Holder
The displayed collection item is housed at Special and Area Studies Collections at the University of Florida in Gainesville, Florida. Rights to this item belong to the said institution, and therefore inquiries about the item should be directed there. RICHES of Central Florida has obtained permission from Special and Area Studies Collections at the University of Florida to display this item for educational purposes only.
Contributing Project
Special and Area Studies Collections, University of Florida
Digital Collections (UFDC), University of Florida
Curator
Cepero, Laura
Digital Collection
Source Repository
University of Florida, Special and Area Studies Collections
External Reference
"The History of Seald-Sweet." Seald Sweet International. http://www.sealdsweet.com/welcome/our-history.php.
Warner, S.C. "Development of Marketing Citrus Fruits in Florida." Florida State Horticultural Society vol. 36 (1923): 198-200.
Hopkins, James T. Fifty Years of Citrus, the Florida Citrus Exchange: 1909-1959. Gainesville, Florida: University of Florida Press: 1960.
"Sydney Chase Sr. (1860-1941)." Florida Citrus Hall of Fame. Copyright 2012. http://floridacitrushalloffame.com/index.php/inductees/inductee-name/?ref_cID=89&bID=0&dd_asId=600.
Transcript
CHASE & COMPANY
GROWERS’ MARKETING AGENTS
PACKERS AND SHIPPERS
FLORIDA FRUITS AND VEGETABLES
SANFORD, FLORIDA
July 11, 1924
Mr. J. C. Chase,
Jacksonville, Fla.
Dear Josh:
Stockton, of the Hartford Insurance Company, told Leffler today, confidentially, that the Citrus Exchange had taken out a guarantee policy with them for $750,000.00. This policy was to be used as security to a loan of like amount being made by the Growers Loan and Guarantee Company, or whatever the name is, in Tampa, who are financing these various advances to the Citrus Exchange growers.
Stockton told Leffler that he had sat in at a meeting of the Farm Loan Land Banks, who are backing up all co-operative activities, and during the conference he learned that the banks last year had advanced the various co-operative organizations seventy six million dollars, and when the notes from the various organizations fell due they were only able to collect twenty three million dollars, in other words 75% of the loan made these co-operative
associations are frozen, and frozen so hard that I doubt very much whether they are ever going to get more out of the seventy six million than the collections already made.
It strikes me that the government ought to call a halt on this method of financing men that cannot successfully work for themselves. The income taxes are pulled on to make up deficits of this character, and it is not fair that the public at large should support people who have lots of theories, and are not practical in their operations and are never included in the successful or efficient class.
I am sending a copy of this letter to Mr. Skinner with the request that he consider same strictly confidential and destroy after reading.
[Handwritten note: Geufite (?) has a 200 M guarantee policy.]
Yours very truly, S.O.C
SOC: HMR
DISTRIBUTORS
Sunniland
Trademark
FRUITS AND VEGETABLES
GROWERS’ MARKETING AGENTS
PACKERS AND SHIPPERS
FLORIDA FRUITS AND VEGETABLES
SANFORD, FLORIDA
July 11, 1924
Mr. J. C. Chase,
Jacksonville, Fla.
Dear Josh:
Stockton, of the Hartford Insurance Company, told Leffler today, confidentially, that the Citrus Exchange had taken out a guarantee policy with them for $750,000.00. This policy was to be used as security to a loan of like amount being made by the Growers Loan and Guarantee Company, or whatever the name is, in Tampa, who are financing these various advances to the Citrus Exchange growers.
Stockton told Leffler that he had sat in at a meeting of the Farm Loan Land Banks, who are backing up all co-operative activities, and during the conference he learned that the banks last year had advanced the various co-operative organizations seventy six million dollars, and when the notes from the various organizations fell due they were only able to collect twenty three million dollars, in other words 75% of the loan made these co-operative
associations are frozen, and frozen so hard that I doubt very much whether they are ever going to get more out of the seventy six million than the collections already made.
It strikes me that the government ought to call a halt on this method of financing men that cannot successfully work for themselves. The income taxes are pulled on to make up deficits of this character, and it is not fair that the public at large should support people who have lots of theories, and are not practical in their operations and are never included in the successful or efficient class.
I am sending a copy of this letter to Mr. Skinner with the request that he consider same strictly confidential and destroy after reading.
[Handwritten note: Geufite (?) has a 200 M guarantee policy.]
Yours very truly, S.O.C
SOC: HMR
DISTRIBUTORS
Sunniland
Trademark
FRUITS AND VEGETABLES
Document Item Type Metadata
Original Format
1-page typewritten letter on Chase & Company letterhead
Collection
Citation
Chase, Sydney Octavius, “Letter from Sydney Octavius Chase to Joshua Coffin Chase (July 11, 1924),” RICHES, accessed April 26, 2024, https://richesmi.cah.ucf.edu/omeka/items/show/1597.