The Roanoke daily times. (Roanoke, Va.) 1895-1897, 1896-07-29
THE IRON BELT.
The Annual Meeting of This Corporation
and the Election of Officers

on Monday morning ut ii O'Clock
There was in attendance at the meeting
a large number of the most prominent
stockholders of the company, ut its vari-
Gus branches from Tennessee, West Vir-
ginia. Virginia and Rhode Island.
Among those present We're the following:
o. +. Quinn, II. a. Ware, w. d. Keister,
I. \. Watt, Huntington, w. Va; f. J.
Goshorn, Charleston, w. Va: G. l..
Drake, Radford; G. W. Preston, Abfng-
don: +. VI. Davis, Rural Retreat; f.. H.
Copenhaver, Marion; w. c. Dart, Provi-
dence, Rhode Island; y. s. Payne. Shen-
andoah Va; John H. Crabtree, Chatta-
nooga; J. f.. Irvine, Charlottesville, and
Others representing II considerable major
ity of the stock III force
In many respects this meeting was the
most important one ever held in the his
tory of the association. The annual re-
port showed, in spite of the persistent
hard times and the Unusual difficulties
affecting all classes of business during
the last year, the most gratifying contli-
ton OF the company'S affairs. The total
assets of the company during the past
year have increased from S542 SIG 81 TO
S5IS,22 - and the total profit account of
the association now amounts TO Sl61.-
b2O9l. The real estate and stock loans in
force at the close of the business wear
was Sl0l, oS3.4J. The company has dur
ing the past year acquired real estate nm
der foreclosure .aggregatng $1,000
1t has succeeding in disposing of seven
teen parcels of real estate for 500 900.
representing Il net profit of 81, 1Si -. and
it is confidently believed that the real
estate remaining undisposed of will be
sold To similar advantage of the associa-
ton.
President =. l.. Terry, after presenting
his annual report, rendered his resigna-
ton. An election was thercupon held for
the election of board of nine directors.
under the new charter of the association,
which was obtained Mt the last session
of the General Assembly, which resulted
as follows:
II. :. Trout, c. \. McHugh, f. b.
Jacobs, Jas. X. Terry, of Roanoke: O. T..
Quinn, senior member Of the firm of
Quinn Bros. wholesale merchants and
millers, of Huntington, w. Va; State
Senator Is. +. Buchanan, attorney-at-la law.
of Marion, Va: y. j.. Antony, secretary
and treasurer of the Rhode Island Safe
Deposit Company, of Providence, r. l.:
Frank f. Wilcox, Wholesale merchant of
Norfolk, Va; j. +. Irvine, merchant.
Charlottesville, Va
The board thus elected is very strong
one and contains upon it representative
men of the leading States in which the
ASSOCIATION does business; they are men of
broad experience and of the highest
standing i'll their ive.communitics
The association has adopted certain
amendments to its bylaws, providing for
the issue of three kinds of stock in the
future, To be Known rs class a." class
b and class CO. stock.
On class a. stock the monthly pay
ments are fixed at 81 per share per month.
On class "B' stock the monthly payments
are fixed at sixty cents per share per
month, and on class &C. stock the pay
ments are thirty cents per share per
month. II also provides that the maxi
mum of premium and interest PAYMENTS
to he charged on loans and advances pro-
cured upon these several classes of new
stock shall lie limited to seventy. four pay
ments on class "a stock, l0l PAYMENTS
on class 3D. stock, and 40 payments ON
class &C. stock. III this way the Dor
rowing member will have the element of
uncertainty largely removed from his
contract and will he able To know in adj
vance the number of payments he must
make upon any sum advanced to him.
The association will begin vigorous
canvas with this new plan To he pressed
by several additional agents, while its
many representatives who were present
ut the annual meeting, and who made
personal examinations into its conditions
and affairs, will return To their respective
agencies entirely satisfied with it's condi-
ton and prepared more energeticallv
than ever to press its claims and advan-
tages as an investment upon sthe people
among whom they live. \ meeting of
the board OF directors of the association
was held yesterday morning and the fol-
lowing officers We're elected to serve for
the ensuing year: aA
President. II. :. Trout, president of
the First National Bank of Roanoke:
first vice president, O. f.. Quinn. of the
firm of Quinn Bros, one of the best
known and most successful business
houses in West Virginia; second vice
president. y. l.. Antony, capitalist and
secretary and treasurer of Rhode Island
safe Deposit Company of Providence, II.
l.. secretary, +. Is. Jacobs of Roanoke.
Va; general counsel. c. A. McHugh. at
torney-at-law, OF Roanoke. Va: treasurer.
Jas. X. Terry, managing director of the
Home building ard Conveyance Compa-
ny.of Roanoke, Va Executive committee:
II. :. Trout. c. \. McHugh and f. b.
Jacobs.
The many representative stockholders
in this tlourshing institution who have
visited our city will return to their homes
full of confidence in the stability and sue
cess Of this institution and have the kind
est words for our beautiful Hill City.
Their presence among us will prove dis
tlnct advantage not only to this institu-
tion i'll which they are 81 deeply interest
ed, but to the community at large. The
board of directors designated the First
National Bank of Roanoke and the Rhode
Island National Bank of Providence. X.
l., as depositaries