The Roanoke times. [volume] (Roanoke, Va.) 1890-1895, 1891-01-22
FIVE B. and |. ASSOCIATIONS
That Aid in the Upbuilding oil
Roanoke.
Who tho Omcers are and What They arc
Doing--The Iron Bolt Building and
Loan Association, the biggest In the
South-It Already Extends Into Thir-
econ Statos and Still Grows.

: 81, 1890. The authorized capital Of the
association is S25,OOO,O 900, between
$4,000 and So, OOO,OO having been
already subscribed The association
expects to have the whole amount of
the authorized capital paid up in eight
or ten years.
About sixty men are kept constantly
travelling in the interest Of the associa-
tion, and agencies have boon esta-
blished in nearly every town and ham
let in Virginia, and also at various
points in tho States of Texas, North
Carolina, South Carolina, West Vir
ginia, Georgia, Alabama, Tennessee,
Kentucky, Louisiana, Florida, Missis-
sippi and Arkansas, thirteen States in
all. At those agencies stocks may be
subscribed and money loaned.
The association has recently estab-
1ished first-class branches in Philadcl-
phia and Baltimore for tho sole pur-
pose of selling paid-up stock, which
enables it to make loans moro rapidly.
It is also intended to establish similar
branches at an early date in New York,
Boston, ST. Louis. and Cincinnati.
The association has so far supplied
ali demands for loans within thirty
oaYS lrOln tuc udUo Vi tuc dppllCdClOH.
This is of course after the usual ninety
days has elapsed.
Loans have been made all over this
State, large part having been
loaned in Roanoke, where the oldest
stockholders live. Roanoke has en-
dorsed the association to the extent of
100000.
The stock in the Iron Belt Associa-
tion natures in seven years. and the
monthly installments required are 60
cents on each share, of the par value of
800 each.
Gen. Fitzhugh Lee is president of the
association, and is backed by the
wealthiest and most conservative bust
ness men in Roanoke.
Z. l.. Terry is first vice-president; S.
w. Jamison, second vice-president; John
OFT, secretary; j. c. Davenport, treas
urer; G. A. Mcliugh, general counsel,
and d. i. Jesse, manager of agencies.
THE PEOPLES PERPETUAL
Loan and Building Association was
incorporated May, 1887, with an author
lied capital stock of S25O,00O, which it
is expected to have closed in tho next
eighteen months. At the last annual
statement, made November 4, $780, the
full-paid stock is placed at 400.
The dividends of the association have
aFCrlHcu IL per CcHJ per annum since
the organization, and l0l loans have
been made altogether. averaging $1,000
to the loan. Each loan represents a
building completed or in course of
construction.
In 1870 thirty-nine houses were
built by the association
The monthly assessments are 81 on
each share of $50. The association, as
its name implies, is perpetual institu-
ton and practically does a banking
business in special line.
The cash on hand on November A.
1889. was 81, SO: at the same date
of 1890 it was 50, 555.20 showing an in
crease of 81, 9S2.37.
The loans in force in November, 1885,
were S3S, 370.0S, and for tho correspond
ing period of the year following they
were $Sl,S72.0l, the increase being
:$43,551.93
The full paid stock in November
1889, was S32,400, land in November
1890, STAT showing an increase of
,332, 800
The volume of the business of tho as
ISOLATION for til year ending November
l, 1889, was $50, 1i3.Sl and for the CORE
spending period of the next year it was
SS5, 42S.ll, the increase being S45, 6Si 80.
The officers of the association arc A.
II. Roiner, president. Nj. c. Thomas,
vice-presidcnt; Wm. l.. Winch, secretary
and treasurer.
The board of directors consists OF A.
Il. Koiner, NJ. C. Thomas g. w. Ram
say, w. q. Evans, l.. H. Simmons, j. Il.
Englcby and Col. Thos. Lewis.
ROANOKE BUILDING ASSOCIATION.
The Roanoke Building Association
and Investment Company was organized
April /, 1882 with capital stock of
$500, 600, divided into 1000 shares of n
par value of 500 each
Up 80 date the company has built and
sold in Roanoke thirty dwelling houses
and now has five others in course of
erection.
Fifteen of these were built before
April /, 1890, and the remainder since
then. The company does not lend
money on the plan of most building
associations 1t invests the money re.
ceived from monthly assessments and
other sources in such manner as is
deemed best for the interests of the
company.
The company bought and disposed of
many residence lots during tho year and
still has in its possession business and
residence lots worth $50, 900.
Each shareholder pays 81 on each
share every month, and twenty-five pay
mcnts have been made.
The annual statement for the first
year ending April |, 1890, shows Sc, 600
profits. According to the constitution
and bylaws the stock is to mature in
eight years, but it is estimated that if
the company does so we'll in the future
.as it has been doing, tho stock will ma,
'tdre in five years.
The volume of the companys bust
mess at the last report had reached