Staunton spectator. [volume] (Staunton, Va.) 1849-1896, 1881-02-08
Spring Kale daily, at PEARMAN's,
No lis Augusta Stree

THE STAUNTON PERPETUAL BUILDING AND
LOAN CoMPANY.-This Company was organized
on Monday night week by the election of the
following officers:
President-Isaac Witt.
Directors.-J. c. Marquis. N. Wayt. ]. B. Ev-
Burnett. M N. Bradley, E. M. Cushing "
Cdshier.-C A. Richardson.
Solicitor.-Wm. Patrick.
ITustees-Arista Hoge, Jos. B. Woodward, J.
s. Gillian.
The charter Is modelled on that of the "Kich-
mond Perpetual Building, Loan and Trust Com
pany," which has been operated SO successfully
In that city since 1875. Its plan differs essen
TALLY in two particulars from that with which
our community is familiar. The stock is sub
scribed to and paid up on the ordinary plan of
building associations, but is owned and held as
person would hold stock in any other joint
stock concern, there being no time at which it
is proposed to divide out. Every six months a
dividend of profits will be declared which will
go to the credit of the shareholder until such
time as the monthly payments, together with
these dividends, shall have made the share of
the par value of two hundred dollars. After
which time the half-yearly dividends on the
value Of the share will be paid in cash to the
holder. The other point Of difference is the
plan the party applying to have his share re-
deemed gets the full par value, less whatever
premium may be fixed on redemption, and
contracts to pay this back in a certain fixed
time, from one to ten years. according as the
contract is made, and his monthly payments
are divided out in such sums as will pay the
amount borrowed in the time contracted for,
instead of contracting to make monthly pay
ment as long as the association is in existence.
as he would be required to do under the old
plan. The advantages Of the scheme are OBJ
vious, and it is hoped by those organizing it,
that it will meet need of the community and
enable many persons to make gradual invest
ment in good paying stock whose means would
not allow them to invest in stocks where a
large sum in cash would be required, and at
the same time enable many who need it to bor-
row money when their means of payment and
credit would not allow them to command the
money from the usual sources from which it is
obtained, All those who have not paid on
their shares are requested to call at the office of
c. A. Richardson and make their first monthly
payment,
CHURCH NoTEs.-Rev. Geo. L. Cook, a native
of this county, but now Of North Carolina,
preached in the Second Presbyterian church OF
this city, every night of last week except Satur-
day night and also morning and night on Sum
day last. On Sunday morning there were II
accessions to that church-ten by certificate,
and one by profession of faith. Major J. Hotch-
kiss and Capt. T. C. Morton were ordained as
Elders.
Rev. Jas. B. Converse, Of Tennessee, filled the
pulpit of the First Presby terrain church on last
Sunday both in the morning and at night. The
pastor, Rev. w. E. Baker. preached in the
morning at Thinking Spring church.
At the Episcopal Church, Rev. w. H. Powers
preached morning and night, and conducted
the Communion services in the morning. Rev.
W. @. Hullihen, the Rector. is absent in New
York.
The remarkable revival in the Baptist church
of this city, of which Rev. ]. M. Frost is the
pastor, which commenced about month since
is still in progress. Up to this time "a have
been received into the church, of whom about
70 have been baptized. The pastor has under
gone the great labor of conducting this pro.
tracted revival without assistance.
His sermon next Sunday morning will be
specially addressed to the new converts, and at
night, he will preach doctrinal sermon on
baptism.