The Roanoke times. [volume] (Roanoke, Va.) 1890-1895, 1891-10-16
BUILDING AND LOAN MEN.
Tho Executive Committee of tho National
League Meets Here

Tho Executive Committee of tho National
League Meets Hero.
The executive committee of tho
League of Southern National Building
and Loan Associations met at Hotel
Roanoke yesterday afternoon. There
we're present John Hanson Kennard,
president OF the league and chairman of
the executive committee of the New
Southern Building and Loan Associa-
ton, New Orleans; e. III. Paramore, sec
rotary of the league and of the league
executive committee, Of Huntsville
Ala; 0. G. Cole, of the New South Ma
tional, Cumberland Gap, Tenn; NJ r.
Dc Vault, secretary of tho IIolston Ma
tional Building and Loan Association,
Bristol; Bird M. Robinson, Holston Ma
tional Building and Loan Association,
Bristol; John OtJ, C. II. Clark, d. b.
Jesse and Capt c. A. McHugh, of the
Iron Belt building and Loan Associa-
ton, of Roanoke.
Tho committee was in session during
the entire afternoon at Hotel Roanoke,
and one Of the most important matters
considered was the passage Of the re-
cent alien land law of Texas and it's
effect on the business of the building
and loan associations of the league. AT
the discussion 1T was decided to with
draw all agencies from Texas, and all
holders of stock III any of tho associa-
tions belonging to the league will be
notified Of this.
Tho question of the privilege tax
license law in Mississippi was dis
cussed at some length. The agency
question was also considered, with the
conclusion that more rigid discipline
in the management Of agents was
needed. and it was decided that any
agent blacklisted by any member Of
the league shall be ineligible to do bus
mess for any other association belonp-
ing to the league.
This organization, though only n
year old, has already ACCOMPLISHED
much in the way of facilita ting the bus.
mess of building and loan associations.
The first meeting was held at Hunters.
vile, Ala, August 20, 1890, L. Ii. Para
more being largely instrumental in
securing the first meeting. At this
meeting the following associa lions were
represented: The Iron Belt, of Roanoke,
by ID. Il. Jesse; the Farmers, of Nash
vile, by w. II. Raymond; the Farmers
and Mechanics, of Bowling Green, Ky,
by j. f. Carpenter.
The second meeting was held at
Atlanta, Septemoe Is, 1870, and more
perfect organization perfected A bill
was formulated by the league and,
through the efforts of W. II. Raymond,
passed the legislature Of Tennessee.
This law regulates State inspec ton of
building and loan associations, REQUIRES
deposit of from S25, 900 to $50, 900 as a
security for shareholders and bonds for
all officers handling the funds of asso-
Citations. 1t is one of the objects of the
league to secure similar legislation in
the other States in its territory.
The mem bers of the executive com
mittee who are here now are all we'll
known, active business men of promi.
hence in their respective communities.
Mr.. Kennard, president OF the league,
is young man and Virginia occupies a
warm place in his heart, as he was
educated at Roanoke College.
w. c. Hall, of the Southern Mutual
Building and Loan Association, of
Atlanta. Ga, and one of the prominent
members of the league, is expected to
arrive in Roanoke to day. Another
session of the committee will be held
this afternoon at : o'clock. After the
meeting the gentlemen composing the
committee will be driven around the
city by several prominent citizens.