Virginian-pilot. (Norfolk, Va.) 1898-1911, 1900-04-04
OUR RICHMOND
NEWS LETTER
Continued from Page I.

6. BY this plan it will he seen that
each stakeholder and all classes of
stock will stand upon the same basis;
that is. the various classes will be
credited with the exact amount of
money paid in by them, and those not
having received the per cent. interest
Will be credited by same. In this way
every one is treated alike.
Z. 1t is further resolved that an Nd
Nisory Board OF ten gentlemen be Sc
lected by the stockholdcrs-th board
to advise With the Board Of Directors
of the Old Dominion Building aud Loan
Association in the work of liqu!da ton,
and participate in the election of an
Executive Committee of four, TWO from
The Advisory Committee ana two from
The Board OF Directors, which E.Xccu-
tive Committee shall receive as com
pensation only $3.50 each for each
meeting they actually and promptly
attend. and necessary travelling ex-
nenSes, and the amount to be- paid the
members of The Executive Committee
four in alD shall not exceed during
one year 500 each
). 1t is resolved also. that tho COM
pany's president shall be a member OF
the Executive Committee in addition
10 the four members chosen as above
and shail receive at the rate of 800 per
month III lieu of the present salary (as
he Is expected to give n large part of
his time TO the management of details
signing of deeds, etc, of the institution
and he Will, therefore, have considera-
BILE responsibility. Only the actually
necessary help, such as bookkceper
etc. are to be employed in this llqui-
dation: but we feel sure the Board of
directors and Advisory Board together
with the Executive Committee. viii
MINIMIZE the labor and save. no doubt
ms year, several thousands of dollars
in running expenses.
ulion cmfwy shrdlu cmfwypupu naa
y. II is resolved that as moneys are
accumulated by the company from time
70 time, dividends Will be declared,
until all OF the assets Of the company
have been distributed TO its stock
holders.
10. 1t Is further resolved that when
Il dividend is declared, the stockhoder
Will have stamped upon his certificate
the date ana amount of such divi-
dend.
II. 1t is resolved that the following
Advisory Board be elected (thcy rep
resentihg an classes of stock and from
various sections of the country:
Advisory Board j. NJ. McMiniman.
OF HAMPTON; G.. A. Smeltz. Newport
News; G. M. Bolton, Aloemarle: / !,
Akers, Danville; Judge w. i. I.aalxc
Richmond; w. S. Forbes. Richmond:
y. L.. Antrim, Richmond; j. NJ. Harris,
Blackstone.
Executive Committee. Taylor ELY
son, chairman: j. S. Elicit. T.. n. SUIT
ton, j. Il. Williams, W. S. Forbes.
IL. 1t is resolved that all amounts
paid in, on account OF monthly dues.
since October !. 1899. shall he refunded
In cash to the stockholders making
such payments, except those paying in
upon money borrowed.
4 Resolved, That IL any stakeholder or
class of stockholders shall refuse 10
come III UPON Inc above terms. and
claim n priority or priorites, then the
board Of Directors are instructed 10
take proper legal proceedings 10 deter
mine whether such priorities exist
and act accordingly in the settlement
of same.
iSa IN BAD CONDITION.
1.-The building and loan associations In
ifhts city seem to be in bad condition