Staunton vindicator. [volume] (Staunton, Va.) 1860-1896, 1890-08-15
THE VIRGINIA LAND & LOAN CO,
OF STAUNTON. VA.

This Company was chartered August, goth,
1850, with maximum capitalfof One Million
Dollars. The par value of the stock is One
Hundred Dollars per share, payable in month
ly instruments of one dollar each, until the
amounts paid, together with the accrued
dividends, shall aggregate one hundred dol
lars
The plan of business adopted by the man
Eagement is to buy unimproved real estate in
or ad dining towns and cities, (new places, as
a rule, being avoided), lay out the same in lots
and build such houses thereon as the demand
requires, and sell them at reasonable advance
above costa small payment being required
in cash and the residue in monthly instruments
until the whole amount is paid. The advan-
tage to the purchaser is that in the course of
a few years he becomes the owner of his
house, by the payment monthly, of sum
scarcely exceeding, if at all, the amount he
would be required to pay for rent of a house of
the same desirability.
1t will be readily seen that the company
purchasing lots in large quantities for cash,
can get them for much less money than they
could be bought for singly by individuals, this
making a saving of from fifty to seventy five
per cent to begin with thereby letting houses
to contract in numbers, at time and paying
cash for everything flor it does an absolutely
cash business), the building can be done at
same houses built one at time by single in
dividuals. In this way, while the purchaser
gets his house at much less cost than he
could build it for himself, the company makes
handsome profit on its investment, and by
requiring part of the principal and interest
to be paid monthly and imme diately invest
ing it, it compounds the interest every month.
Tha company also does loan business. thus
utilizing its funds when not needed for build
ing, so that its capital is never idle. Loans
are only made on unemcumbered real estate in
amounts not exceeding two-thirds the value
thereof.
Enough of the capital stock has already been
sold to insure the success of the Company,
and agents are now in the field placing the re-
mainder.
The Treasurer alone is allowed to handle
the funds of the Company, and he is required
to give bond, with approved security, in double
the amount of his monthly receipts, and the
bond is spread upon the records of the Hust-
ings Court of the City of Staunton, subject to
inspection at all times
Shares of the Stock can be paid in full at
any time the subscriber wishes, and all divi-
dends such stock are paid in cash, while
those on the running stock are placed to the
credit of the subscriber to assist in paying up
his stock.
Dividends will be declared on the Ist of Jam
uary and July of each year, and it is confident
ly believed that, by judicious management, the
monthly payments of one dollar per share and
the dividends earned by the company will make
all the stock paid up at from five and half to
six years. A dividend of seven per cent has
been declared for the six months ending the
first of July, and the officers of the company
see no reason for doubling that this good rec
ord can be kept up.
The officers of the Virginia Land and Loan
Company are =
President, w. L. Fleming, Richmond, Va,
manager of Richmond Tobacco Co.
First Vice President, A. c. Braxton, Staun-
ton Va, President Kanawha City Co. and
Counsel for City of Staunton.
Second Vice President, F. B. Berkeley,