The Valley Virginian. [volume] (Staunton, Va.) 1865-1895, 1891-03-12
Staunton Savings Bank.

1 Iy u eaSufeFS ONCE mOGuftt ioiSAooA
by the stockholders Of the Stanton
Savings Bank, whose charter was grant
ed by Judge Grattan abouta month ago.
Joseph Is. Woodward was made chair
man, and Gay Cochran secretary. The
charter was formally accepted by the
meeting, and also the constitution and
bylaws that mad been prepared
Six add itional directors were chosen,
whose names come last in the following
complete list OF directors, fifteen in all :
A. C. Gordon, W 7, McCue, j. n. Nc
/ Farland, j. Il. Woodward, g. G.. Child,
B. T. Hughes, G G. Berry, G. L. Weller,
Nell. Holiday, r. S. Turk. Thornton
Terry, i. T. Bagiy. w. p. Talns Is. F
Terry and b. L. Pa!tlow. AS published
before, A. G. Gordon is president aud w.
T. MaCue vice president.
A meeting of the board OF directors
was held Immediately after the adjourn
inent Of the stockholders meeting. BY
the directors G. &. Child was elected
/ cashier. L. s. Turk solicitor, and q. L..
/ Weller and J n Mcfarland trustees
An executive committee also was formed,
composed of A. c. Gordon. " i. McCue
and J s. Woodward. Messrs. Gordon,
! Mcfarland and Weller were appointed
committee to secure a room for the
bank, and to purchase the furniture re-
| quired for it's business. 1t will be open
! ed as soon as the necessary preiininasies
can be arranged, probably by April 1.
/ According to the carefully prepared
and explicit y-iaws of the hanls, it will
/ be kept OPEN on every business day from
to o'clock, and for the special accom-
mediation Of working people it will also
| be kept cl eli from tor O'Clock on Mon
lay and Saturday evenings. Sing'e &c
posts are to be not less than Fl nor great
| ef than $500, though sums larger than
| the latter will be received by special ar
langenie1t with he directors. The funds
! Of the bank, are to be invested and de
posted in the name Of the Staunton
/ Savings Bank The books are to be
open for inspection ut reasonable times
to the stockholders, and at all times to
the directors.
Interest ut he rate of three per cent.
per annum will be allowed on all depos-
it's OF - or over, from the first day of
the month succeeding the deposit to the
first day OF the month ia which all or
any part OF it is withdrawn. On the
| first Tuesday OF March. and also on the
first Tuesday of September. interest ac-
crued. ana not called for by tie dtposi
tor to whom it belongs. will be credited
TO tie ,ieposisor's account. aud will then
draw interest along with the main por-
ton Of lis aggregate deposit
The general effect OF savings banks.
wherever thev have been successfully
/ operated. has been to prolnotc economy
and systematic thrift among tie working
people. In Massachusetts and other
manufacturing states oil Ancrics and in
! Scotland, the savings bank deposits of
working people aggregate many millions
of dollars, and the Interest received by
them from the hapks nfon these depos>
1 its forms an important and very helpful
portion of their annual earnings.
1t is designed to afford to those who
are DESTROYS Of saving their money, the
means of employing it TO good Advantage,
i without risk OF losing it, and ut the same
time the ability 10 command it at any
time they may desire. 1t is also intend
| ell to encourage the Industrious and pru-
dent, and to induce those who have not
hill erto been such. to lessen their un>
necessary expenses. and to save and lay
by something for q period-of life when
they will be less able to earn support
1t will also afford an opportunity to
] those desiring it, of obtaining loans OF
moderate amount upon their real estate,
at legal rate of interest. The rules and
regulations Of the institution, as requir
/ ed by law, together with the character of
it's officers, will, it is believed, afford to
the community a sufficient guarantee
that its purposes will be fully and fairy
carried out.
Leonard Cox. tiaveing auditor of the
Western Union Telegraph Company. was
ia Stanton last Thursday.
Col. J. G. Shields. of the Spectator.
returned! to Stanton several days ago,
after an absence of two weeks at Buena
Vista.
PRof. D. Meyer, with his pupils at the
Augusta Female Seminary, gave a con
cert at that institution last Friday to an
audience of invited persons.
Robert J. Dettor, formerly grocer of
Staunton but travelling salesman now
for q Baltimore cigar firm, was registered
at the Virginia hotel last Friday.
Father Fallon, assistant pastor with
Father McVerry over ST. Francis Catllos
lie church, is recovering slowly from his
recent attack Of fever. Father Hanley
Of Portsmouth, who is stationed in
Staunton temporarily during Father
Fallon's illness, conducted services in
Charlottesville last Sunday, and Father
4 McVerry in Harrisonbrrg. The services
OF St. Francis church in Staunton were
conducted by Father Kelly, Of Lexing-
ton.
The Standard Brick Company is the
name of a new corporation TO which a
charter was granted by Judge Grattan
last week. Capital to be not less than
$1,000 nor more than $50, 600. in shares of
I $50 each. Real estate to be owned by
the company is not to exceed 100 acres
The following are tle officers for the
first year: President, w j Perry see
rotary, G. r. Perry treasurer, e. 3.
Berkeley; directors-the three officers
named, and NJ. Ersline Miller, 0. x. Lap
| ham and w p. Tams
r. L. Newman, who stabbed J. D. Par
sons in Gas House alley January 26, was
brought yesterday from Lexington to
Stanton jail BY Policeman Collins Of
this city. He was arrested q few days
ago by Chief Perry of Lexington, in re-
spouse to q request sent hin. by Captain
Waters when The crime was committed
Parsons went to his home in Salem soon
! after the stabbing, and has since tracti
cally recovered. Newman will be ar
Gaigned for examination as soon as Par
sons arrives in Stanton.
The funeral of Mrs b. T. Eakle. who
died on Wednesday of last week, took
) place at the Baptist ehursh on Brislsv,