Letter from Joshua Coffin Chase to Sydney Octavius Chase (January 5, 1923)
Dublin Core
Title
Letter from Joshua Coffin Chase to Sydney Octavius Chase (January 5, 1923)
Alternative Title
Chase Correspondence (January 5, 1923)
Subject
Chase, Sydney Octavius, 1860-1941
Bonds--Florida
Chase and Company (Sanford, Fla.)
Chase, Joshua Coffin, 1858-1948
Sanford (Fla.)
Banks and banking--Florida
Description
An original letter of correspondence between brothers and business partners Joshua Coffin Chase and Sydney Octavius Chase. Topics discussed in the letter include a paving bond for property in Sanford and the offer made by B. H. Barnett.
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. Randall Chase joined in the family business soon after his brother, Sydney Chase, Jr., did in 1922. Randall became the president of Chase & Company from 1948-1965.
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. Randall Chase joined in the family business soon after his brother, Sydney Chase, Jr., did in 1922. Randall became the president of Chase & Company from 1948-1965.
Creator
Chase, Joshua Coffin
Source
Original letter from Joshua Coffin Chase to Sydney Octavius Chase, January 5, 1923: box 173, folder 2.51, Chase Collection (MS 14), Special and Area Studies Collections, George A. Smathers Libraries, University of Florida, Gainesville, Florida.
Date Created
1923-01-05
Is Format Of
Digital reproduction of original letter from Joshua Coffin Chase to Sydney Octavius Chase, January 5, 1923.
Is Part Of
Chase Collection (MS 14), box 173, folder 2.51, Special and Area Studies Collections, George A. Smathers Libraries, University of Florida, Gainesville, Florida.
Sanford 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.
Format
image/jpg
Extent
127 KB
Medium
1-page typewritten letter
Language
eng
Type
Text
Coverage
Sanford, Florida
Accrual Method
Donation
Mediator
History 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
"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.
"Joshua Coffin Chase (1858-1948)." Florida Citrus Hall of Fame. Copyright 2012. http://floridacitrushalloffame.com/index.php/inductees/inductee-name/?ref_cID=89&bID=0&dd_asId=960.
Transcript
Jan 5th 1923
Mr. S.O. Chase,
Sanford, Fla.
Dear Syd:
I am returning herewith your letter of Jan. 4th with all papers attached regarding $300,000 Sanford, Florida, Improvement 5-1/2% paving bond issue for paving certificates due in one to ten years. I have just returned from a talk about them with Mr. D. H. Barnett, President of the Barnett National Bank.
Mr. Barnett would not be interested for the bank in such an issue without knowing more about it. There was an uncertainty in his mind whether such bonds were tax free as you claim. There was also a doubt in his mind whether it was a regular recognized obligation on the part of the State. In event of any default, he was under the impression that suit would have to be instituted and a levy of some kind made in order to collect.
He appeared to think that the price submitted through the Atlantic National Bank was just a preliminary bid and there was no obligation upon your part to accept. Bonds of this kind are being sold on about a 480 to a 5% basis for those that expire within a short time, with a better premium on those of longer time to run.
Why don't you turn this offer down as being unsatisfactory and advertise for new offers, unless you have already advertised and this is the best proposition that came. In the meantime, Mr. Barnett appeared to think that it would be advisable for you to secure an opinion from Mr. John C. Thompson, of New York City, or some other authority as this would add value to the security and enable you to obtain a premium.
The writer is under the impression that Mr. LaMater is now boarding at the Munoz[?] House, with a son at Princeton. The writer has met the father and mother but does not know them very well.
Yours very truly,
JCC/s
Mr. S.O. Chase,
Sanford, Fla.
Dear Syd:
I am returning herewith your letter of Jan. 4th with all papers attached regarding $300,000 Sanford, Florida, Improvement 5-1/2% paving bond issue for paving certificates due in one to ten years. I have just returned from a talk about them with Mr. D. H. Barnett, President of the Barnett National Bank.
Mr. Barnett would not be interested for the bank in such an issue without knowing more about it. There was an uncertainty in his mind whether such bonds were tax free as you claim. There was also a doubt in his mind whether it was a regular recognized obligation on the part of the State. In event of any default, he was under the impression that suit would have to be instituted and a levy of some kind made in order to collect.
He appeared to think that the price submitted through the Atlantic National Bank was just a preliminary bid and there was no obligation upon your part to accept. Bonds of this kind are being sold on about a 480 to a 5% basis for those that expire within a short time, with a better premium on those of longer time to run.
Why don't you turn this offer down as being unsatisfactory and advertise for new offers, unless you have already advertised and this is the best proposition that came. In the meantime, Mr. Barnett appeared to think that it would be advisable for you to secure an opinion from Mr. John C. Thompson, of New York City, or some other authority as this would add value to the security and enable you to obtain a premium.
The writer is under the impression that Mr. LaMater is now boarding at the Munoz[?] House, with a son at Princeton. The writer has met the father and mother but does not know them very well.
Yours very truly,
JCC/s
Document Item Type Metadata
Original Format
1-page typewritten letter
Collection
Citation
Chase, Joshua Coffin, “Letter from Joshua Coffin Chase to Sydney Octavius Chase (January 5, 1923),” RICHES, accessed December 22, 2024, https://richesmi.cah.ucf.edu/omeka/items/show/2537.