Ritz Carlton Hotel
Charles Meredith owned a plot of land at Drummond Street and Sherbrooke Street in Montreal, valued at "one dollar, but with good and valuable considerations". In 1909, he sold the land to the recently created Carlton Hotel Company of Montreal. The principal investors for the company (led by Charles Hosmer, a personal friend of César Ritz) were Sir Charles Gordon (vice-president of C. Meredith & Co., and later President of the Bank of Montreal), Sir Montagu Allan and Sir Herbert Holt. Aside from the cursory one dollar, Meredith received $787,500 in preferred shares in the Carlton Hotel Company, of which $314,404 was paid to him in cash and the balance of $469,096 was covered by "goodwill, benefits and advantages". Meredith's share made him a principal shareholder and he had a major influence on how the Ritz-Carlton Hotel was run, and its future.
Read more about this topic: Charles Meredith (banker)
Famous quotes containing the words ritz and/or hotel:
“I’d take the bus downtown with my mother, and the big thing was to sit at the counter and get an orange drink and a tuna sandwich on toast. I thought I was living large!... When I was at the Ritz with the publisher a few months ago, I did think, “Oh my God, I’m in the Ritz tearoom.” ... The person who was so happy to sit at the Woolworths counter is now sitting at the Ritz, listening to the harp, and wondering what tea to order.... [ellipsis in source] Am I awake?”
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