The western sentinel. [volume] (Winston-Salem, N.C.) 1887-1926, 1893-04-13
WACHOVIA LOAN & TRUST co
Another Valuable Institution For Win
St0n-SalGm.
WILL BEGIN BUSINESS JUNE 18th.

The Capital Stock to be $500, ,OOO-A
Handsome Building to Be Erected
on the Old Hotel Fountain Site
Names of the Officers and Directors
The Only Institution of the Kind
ia North Carolina.
The first loan and trust company
in North Carolina will do business in
Winston-Salem. 1t was incorporated
by an act of the Legislature giving it
the most ample business powers and
it will be ready to do business next
summer.
At a meetiin -ef-stockholders yes
terday afternoon in the rooms Of~tthh
Chamber of Commerce several i'm
portant and interesting matters were
transacted.
INCREASE OF CAPITAL.
The most important was the decis-
ion to increase the capital stock from
$3.50, COO to 100000. This was done
because the demand for the stock had
already become exhausted and it was
deemed best to make the company
even stronger than before.
Another important thing was the
ratification of sale pby which the
Wachoyia Land and Trust Company
land on Main street, having ID 'front.'
age of 32! feet, and being just north
of the Hotel Fountain site; the build
ing will be 81 feet deep.
BEAUTIFUL BUILDING.
On that site will be constructed a
building especially adapted for the
needs of the new company, after the
plans of w. L. Plack & Co., architects,
Of Philadelphia and Winston. The
building will be an ornament to the
Twin-City. Roman classic in style,
built of granite in the lower section
and Of notified brick with terra Gotta
to match IN the upper section, it will
ad0rn Winston-Salem. An ornamen
tai pediment will surmeunt the front
and each end will be a little pinnacle.
Work will be commenced as soon as
possible and pushed to completion.
THE DIRECTORS.
A Board of Directors was chosen,
composed of the following well-known
citizens : James A. Gray, James E.
Gilmer, j. w. Fries, z. III. Fogle, j.
G. Buxton, f. III. Fries, J. III. Mills,
I. L. Vaughn and r. J. Reynolds. All
these gentlemen a-e residents of the
TwinCity, excepting Mr.. Mills, who
L
The officers elected:
f. HI. Fries, president; Jas. A. Gray,
vice-president; H. f. Shaffner, secre-
retary and treasurer.
Executive Board-J G. Buxton, G.
H. Fogle Jas. A. Gray.
The finance committee will be COM
posed of L. L. Vaughn, ]. W. Fries
and r. j. Reynolds.
The Wachovia Land and Trust Com
hI1S al
June 10Th next, or some two months
before its building can be completed
and ready for occupancy.
IT'S PURPOSE.
1t will undertake almost every bus
mess of a ffduciary character, which
can be transacted by individuals and
in such capacity acting in any city or
county of the State of North Caro-
lima.
1t may, for instance, act as trustee,
under will, or as the administrator
of an estate; it may receive money
under an order of court, as receiver or
assignee; it may act as the guardian
of Il minor, or, be trustee for estates
corporations or individuals.
Part of its business will be to search
titles, cure any defects which may eX
ist therein and insure them against
such defects or the adverse claims of
others. 1t may issue warehouse GER
tificates or receipts for personal prop
erty held by them; and these receipts
will be negotiable and pass by deliv-
cry.
SAFE DEPOSIT.
A big vault will be built in which
patrons may deposit important papers
or valuablcs secure from fire or bur-
glars. BUXe, in this vault will be
rented to those who desire to lay
aside documents, such as deeds, insur-
ance policies, notes, mortgages, etc,
etc.
The company will be empowered to
| negotiate and make loans on real es-
| tate, on collateral or other approved
security, may buy and sell bonds and
| other first-claSS securities, handling
only such as will satisfy the most con-
| servative.
| As in the case of banks it will re-
ceiye money on deposit with or with
| out interest, but it will lack the most
| commercial features of a bank. 1t
will collect money, interest or divi-
| dends, and re-invest same as desired
/ by patrons. In short it will meet the
requirements of business men, hold
ers of property, farmers and Others
who desire better protection for prop
erty and who wish certain and speedy
] transmission to Others.
| SHERfEF NTcARTHIIR SHOT Ar