Richmond dispatch. [volume] (Richmond, Va.) 1884-1903, 1890-06-18
(Communicstcd.I
A New National Building aad Loan Asso-
citation Organized In Virginia.

(Communicstcd.i
A New National Building aad Loan Asso-
citation Organized In Virginia.
GENERAL FrrznueH LIE THE PRESIDENT.
The Iron-Belt Building and Loan Asso-
citation of Roanoke, Va, is new national
association recently organized at Roanoke
under the most auspicious circumstances.
It's authorized capital is S25,OOo,ooO. OF
this amount $20O.O0o was subscribed at
Roanoke on the first day that books were
opened.
The officers Of the Association are:
Prcsident-General FtZhugh Lee, ex-
Governor Of Virginia.
First e-President-Peyton i. Terry.
President Roanoke Trust. Loan, and Safe
Deposit Company and president FIRST
National Bank. Roanoke. Va.
Second Vice-President-S VI. Janison,
Secretary and Treasurer Roanoke Trust,
Loan, and Safe-Deposit Company. and
Secretary Roanoke and Southern Railroad
Secrotary-John OFT. Cashier Citizens
Bank OF Roanoke and late Cashier City
Bank of Richmond. Va.
Treasurer. &. Davenport, Cashier
Commercial National Bank, Roanoke. Va
General Couusel-Hon. c. A. McHugh,
Counsellor at Law, late of Charleston,
S. G.
General Manager Of Agencies-D. b.
Jesse. late of Lexington. Ky.
General Lee and his associate officers are
n guarantee of the faithful. conservative,
and able management of the affairs OF this
association. There Is no section OF the
United States that has 80 sens'oly felt the
impulse of industrial development a. that
section of the great Southwest where this
association has It's home. To its investing
members 1t offers IN almost lnexhau ,tlDle
demand for money. Aud yet national IN lts
reach, it secures TO every one OF lts
branches. wherever organized, the use OF
the money there subscribed. BY q con,
servative estimate of profits shares should
mature in seven years. We hope 10 attain
this result in much shorter time. But
this association. with conservatism Tor us
watchword. prefers 10 err on the safe SIDE
rather than disappoint its members ny
promising too much. Taking seven years
Is the basis of our calculation:
ILLUSTRATION
Showing the profit TO a shareholder who
carries ten shares a. an investment:
Membership fee, 10 sbares..............s 10 90
Monthly dues f6 per month for 50 months. SvS W
Sum total. ........................so w
The shareholder then withdraws from
the association 1000 in cash, making a
net profit of 1892.
There is no institution that ia calculated
TO work more substantial good IN COM
munity than O cOnservatiyely- conducted
building association. As the prospectus
of the Iron Belt well says: These associa-
tions encourage and develop habits OF
thrift in the working people. They help a
man to help himself. Make man house
holder and you mako him better citizen
of the town aud State of hls residence.
His interests and his future are rooted to
the soil. Good government, taxation, and
the economic administration OF affairs be-
come yitally-impOrtant questions 20 MN.
Besides the habit OF thrift acquired IN the
seven years saving that led TO his home
will, in nIne cases ont of ten, continue to
add TO his store after his home has been
paid for.
And the larger the reach of the associa
ton tho greater its membership and IFS
monthly collections the greater the good
which it is calculated 10 oaccompllsh.
It's usefulness is commensurate with IL
size.
On the side of greater security and safety
to its members the Iron Belt has intro
duced the following new features that W.
cite from the first page of its attractive
prospectus:
Ii is the only national association that
has a reserve fund.
It Is the only national association tha
requires an annual inspection of all risks.
1t Is the only national association that re
quires an annual Investigation of the ac
counts and transactions of the officers Of
local boards.
It is the only national associationtha'
limits isB risks 10 tine larger towns.
8Ir. D. B. jesse, the general manager oI
agencies. "a now in this city. and has ap
pointed us local agents. He will be pleased
TO meet persons wishing 10 secure stock
and explain 70 them tho plans and term:
of tho association.
GEORGE ID. PEASANTS & Sow.
1l044 east Main street.