Richmond dispatch. [volume] (Richmond, Va.) 1884-1903, 1902-12-03
CITY OF PETERSBURG
ArroMarTox TRUST COMPANY M
cREAsEs IT'S CAPITAL STOCK.
TOWN BONDS TO BE RETIRED.
rour Fer Cents. VIII ne Substituted
for Eight pcr ccntr.-contrnct for
tho rrcis,,. Depot of the \. c. l..
.wardcd-NuntcipalA Affairs.
TOWN BONDS TO BE RETIRED.
Four I'cr Cents. VIII Ne Substituted

T. ~
tspcciai9-.A lareely-attended meeting of
the stockholders OF the Appomattox Trust
Company was held last night. Every
steeiSlloldcr being present or represented
by proxy The meeting had been called
by the president and Board OF Directors
TO consider the question Of increasing the
capital stock of the company. which at
present IS s1ca.ooo This matter has been
discussed among the stockholders Tor
some time past and while among the
small holders there was a feeling of
doubt as 10 the propriety of an increase.
this doubt was removed last night. and
The meeting was not only unanimous. but
enthusiastic in its action
The original purpose was TO double the
capital stock, making it s2oo0oo. After the
encouraging statements made last night,
an increase TO 100000 was made. One
wealthy and progressive citizen offered to
take 100000 of the new stock. The stock
holders are given the privilege of doubling
their present holdings. which most OF
them will do. and what remains. II any,
will be underwritten. The remarkable
success OF illc oIDpdHS Al LIZ pas, 81
cd as il is BY wise heads, is guarantee
Of still greater success under its en-
larScd capital.
There are unauthorized limitations that
the action of The stockholders meeting
last night may mean new banking
and trust institution in our city. with
capital of 100000. Nothing definite can
he stated as to this matter. there are
three large banks in our city. All OF
l1,,3 ,J,fA,-,,
is room for another.
TO RETIRE $4,000 CITY BONDS.
Mr.. George ]. Seay. chairman OF the
Finance Committee, last evening, intro
duced in the Common Council an ordi-
nance providing for the issue and sale
of $4,000 bonds of the city of Peters
burg, bearing per cent. interest. TO
consolidate and retire a like amount OF
s per cent. bonds maturing in April and
May Of next year.
Petersburg is still bearing the burden of
an eXtravagant indebtedness created by
The reconstruction Republican administra-
tion, which held sway subsequent TO the
war and which was not driven from
power until 1874. a heavy debt was Great
ed. and bonds were issued bearing inter-
est as high as S and 10 per cent. The
bonds about to be retired at per cent
interest, were issued in 1873. OF the
amount $4,000 were issued for building
school houses. and s15D.eoo to cover float
Ing Indebtedness. These bonds were sold
at the time at 80 cents on the 81, and
40 sinking fund or special tax was pro-
rided for their redemption. BY the retire
ment OF these S per cent. bonds Of sl9o.0oo
~, a per cent basis, ,tthe city VIII save
$1,000 a year in interest alone. a sinking
fund and a special tax of one-tenth of
=, the rpfipTnn-
lion.
The Democrats redeemed the city from
Republican and negro control in 1874. and
The confidence Of the people, which had
well nigh been destroyed, was at once
restored and the financial credit of the
si1y was strengthened. IN 1876 a sinking
fund was established which to-day means
an asset of nearly 100000 Many bonds
have been purchased and retired and the
good work is going on While IN 1870
: per cent. bonds We're sold at 80 cents
on the 81. to-day per cent are worth
q premium Of SO. And this year the city
has taken up the $1,000 bonds issued to
trv the farm for the State Central
Hospital.
ZIG CONTRACT AWARDED.
The contract for building the new
freight depot for the Atlantic-Coast Line
Company on Washington street. has been
awarded 10 Mr. G.. ". Lambert, of Rich
mond. who has done much work in TINS
city The new building is to be OF prlck,
pne story in height. $40 feet long. by tN
feet wide. and will extend on Washington
street full square, from Union to Syca-
more street. Work will begin as soon
VS. the railroad authorities are ready.
The handsome new passenger depot Oh
the Atlantic-Coast Line on Washington
has of bppn CONNECTED.
FUNERAL OF w l., BLANKS.
The funeral Of Mr.. William l.. Blanks.
whose sudden death occurred in Rich
mond Sunday morning. took place at Z:5o
O'Clock this afternoon from the Wash
ineton-Street Methodist Episcopal church.
the Impressive services being conducted
by the pastor. Rev. Dr. w. u. Starr.
The high esteem in which this worthy
Young man was held. was attested by the
large assemblage present to testify their
respect and sympathy. In addition to
the final services OF the church at the
cemetery, the burial was with the honors
of the orders of Masons and E!ks., Of
which the deceased was a member
A TALK TO PYTHIANs.
In his official visit to Eureka Lodge
last night, Grand Chancellor James W.
Gordon, of Richmond. was welcomed by
a large assembage Of Pythians lie was
received with honors both at the depot
and in the Castle Han by the company
Of the Uniform Rank:
During the evening the Grand Chancel-
Tor delivered a fine address to the Pyth-
ans It was a plain practical and forci-
BILE talk on the good of the order. He
advocated the appointment Of an organ
3zer for the State. and more active work
n building up ;he ranks OF Pythians.
Other secret orders are forging ahead.
by hard work While the 1ythian order
is comparatively standing still. He urged
fn1nrorempnf in Cpprfp work in the lodges
2 greater familiarity Of the officers with
.he ritual, the necessity for the greater
1se of the mind, and TIC less use Of books
n comforting degrees. to make the work
more impressive and effective. He urged
every member OF the order to use his
efforts towards its ui,buildng, and the
spread and practice of its grand princ-
pies The address WAS one OF peculiar
force, and wall be productive of much
good.
MUNICIPAL AFFAIRS.
The cltH's cash receipts from all sources
during the month Of November amounted
10 &s.llo. and its expenditures during
the month We're S.5fs, fines collected in
the Mayors court, Si72.
The Common Councii last evening
awarded 10 Messrs. James T. Banks o.
- Morrison, the Sixth Ward pharmacy,
and Charles L. Wright. contracts for fur
msning medicines 10 the poor, at 121s
cents per prescription. The sick poor of
The city are given medical treatment free
OF charge.
An offer has been made to the city to
furnish wood fcf the poo, at S425 per
cord. This viii be accepted In part but
an effort will be made to effect arrange