The Roanoke times. [volume] (Roanoke, Va.) 1890-1895, 1893-02-20
OF ROANOKE, VA.
OFFICERS:

Safe Deposit Company, Manager Of
Loan Department.
I'd Vice-P residen-S. w. JAMESON
(banker and insurance), Chief Appraiser.
Secretary-JoHN OFT, late Cashier
City Bank OF Richmond, Va.
Treasurer. G. DAVENPORT, Cashier
Commercial National Bank, Roanoke,
Va.
General Counsel-C. A. McHueu.
s. G.
General Trustee-HENRY S. TROUT,
President First National Bank, Roa-
noke, Va.
G. HOLMES CLARK-Actuary and AS
sistant to Secretary.
Designated Depository - Roanoke
Trust, Loan and Safe Deposit Company.
Home Ofiice-Terry Building, Roa-
noke, Va.
THE AIMS OF THE ASSOCIATION MAY BE
STATED AS FOLLOWS:
l. To aid persons Of small means in
securing homes.
2. To earn profitable return for per-
sons able TO lay aside something each
month.
8. To induce those of comfortable
means to invest for the benefit of those
who are not so we'll off.
4. To extend the principle of co.oper
alton so as to yield, with the means at
command, the greatest comfort to the
greatest number.
s.: Incidentally, to aid in the work of
giving stability to the community, where
the Association transacts any business,
by fostering desire to save among
those who might otherwise waste their
means.
The Association, therefore, issues two
classes of stock to-wit:
l. INsTALMENT STOCK This stock
may be taken in pieces of from five to
three hundred shares. 1t is 81 per share
Nom bership fee; after that beginning
with the third Saturday of the month
succeeding the date of the stock, the
monthly dues are sixty (6O) cents per
share. So, after the first month. Sc per
month carries ten shares; 80 per month
fifteen shares, and so on.
2. PAID.Up SToCK.-This stock (par
or maturity value S1O0) costs $50 per
share, and pays cash dividend, PAYABLE
semi'annually, January l, and July l, of
Six per cent. per annum, on the ffty
dollars (S50) paid.in, which is duly re.
mitted to the holder. This dividend Is
part Of the earnings OF the money in.
vested in this stock; the remainder is
placed to its credit against maturity.
This stock may be taken in pieces of
from one to three hundred shares
The money received from stock sub
criptions is invested by the Association
In hrst liens on improved town real es-
tate, duly insured for the benefit of the
Association, on basis not exceeding so
per cent. of it's value, as ascertained bv
appraisers who are themselves stock
holders, and from other thoroughly re-
liable sources. while the debt of the
member borrowing is being curtailed
ever y N onth of its existence
Being backed by the security stated
above, the investment in this stock Is
absolut ely non.speculative in character,
and is therefore safe beyond question
and most profitable.
A BUSINESS MANS VIEW OF NATIONAL
BUILDING AND LOAN ASSOCIATIONS.
That the Association might have the
advantage of the counsel of business
men of known standing thr oughout the
country, the printed matter it issues
has been freely sent to them with the re-
quest that 1t be given a careful examine
ton. Among the responses received
was the following frou1 Hon. Abram S.
Hewitt, of New York.
"NEw YoRK, November 2, 1892
John or, Esq; Secretary, ETC.. Roanoke, Va.
for the DOCUMENTS uhch accompany Your note of
the 3lst ult l have read them with great in
terest, and am particularly struck with the clear
and forcible manner in which the plan OF opera.
tion carried on by your association is outlined
and explained ! am glad to see that you do not
shrink from stating the exact facts, and that you
40 not hold out any promises except to divide
fairly among the stockholders the profits OF the
undertaking. Assuming the security to be good.
you ought 10 be able to get very large amount
OF capital from other parts OF the country where
the rate OF interest is much lower. In ths way
csptsl tends to diffuse itself, and become accessi
BILE in those parts of the country where develop.
meht preredes the growth OF capital. PAGES
which are rich in natural wealth are generally
doubted, and the administration is honest capt. al
VIII 1ow until the void il filed, l cannot de bt
ar ,,s w ne y fo ~. len and in fact
holders, that you al drawing capital from other
| parts OF the Union.
III have long been convinced that for the work.
| Ing men. Building and Loan Associations, prop.
ery conducted, constitute the most henehcent
institutions OF modern timee, to insure habits OF
thrift and u Innate competence to wage earnere
The lc cal institutions have done vast amount OF
good, aud wherever they can ne organized think
thew should be encouraged by the law as we'll as
by the public but there are parts OF the country
where the local organizations are not adequate to
meet the demand for improvement The INA.
lionsl' associations hence become necessary.
Undoubtedly some OF these have been very badly
managed. and they have fallen into much disre
putc In consequence OF the dishonesty OF the Of
| hcers. ont some gentlemen of the highest stand.
ing IN this city have recently organized an insti-
tuition OF this character in order to demonstrate
| that there is nothing radically wrong In the Ma.
tional" principles, hnt that, on the contrary. they
MI place which can never he occupied BY the
| local organizations. nm IA trustee Of this cor.
| poration, and IL has begun its operations under
| very conservative management
Il shall at all times lie glad to re- &c i've any dozen
ments which yOn may ,ssne. and am sure that Won
| will have the success which usually follows in
| telligent and honest management Sincerely
| yours
| [Signedl "AsRAM s. HEWITT"
| An institution of this character must
80 present. itself IA to command, by its
intrinsic merits, the confidence OF the
| MI hlic and thu Nfapa0o,,ont "a 49,