Keowee courier. [volume] (Pickens Court House, S.C.) 1849-current, 1902-10-08
A NEW ENTERPRISE FOR oconee.
The Prospectus Of "The Westminster Invest.
ment, Savings and Trust Company"

ment, Savings and Trust Company"
Below we give the prospectus OF
the new company organized in our
sister town of Westminster, the
books of subscription to the capital
stock of which were opened at West.
minister yesterday, at the banking
house of the Peden & Anderson
Banking Company. The leading
spirits in the organization of this
company are Messrs. w. p. Ander-
son, M. s. Stribling and j. p. Strib.
ling, and the business qualifications
and integrity of these gentlemen are
a guarantee of success from the be-
ginning. The following is the
PROSPECTUS:
The Westminster Investment, Saw
ings and Trust Company will be
located at Westminster, s.. g. The
capital stock is fixed at fifty thou
sand dollars, divided into five hun
dred shares of the par value of one
hundred dollars each. Twenty per
cent will be called to be paid in at
the organization of the company
The remainder will be called as the
directors may deem advisable and
for the best interests of the company.
The business of the company is set
forth in our application for charter,
which is as follows:
The general nature of the business
it proposes to do is To deal in real
estate, personal property and mer-
chandise of all kinds, to borrow and
lend money, to receive deposits sub
ject to check, to issue interest bear
ing or demand certificates, to receive
money on deposit and pay interest
thereon, to dealssin the stocks and
bonds of other corporations, to buy
and sell notes and other obligations
of individuals or companies, to or
ganize and promote other companies
of all kinds, to build and operate
stores, hotels, warehouses and plants
for the manufacture of cotton, wool,
wood, iron and other fabrics or
metals, singly or combined, to develop
and use, rent, hire, or sell water,
steam or electric power, to build,
buy, sell or operate electric light
plants, water works for public or
private uses, to build or buy, and
operate ice and cold storage plants ;
also to build and operate cotton seed
oil mills, soap factories, and fertilizer
plants, to engage in all forms of agri-
culture, sericulture or horticulture !;
to operate or deal in mines or mining
property; to have the power and
privilege to be appointed by individ-
uals for themselves, to act as their
administrator or executor, or to be
appointed by them as guardian for
their minor children, and to enjoy
the privilege of being eligible for
appointment by the Courts of this
State as trustee, guardian, admins
traitor or committee of estates under
the laws of this State; also TO act as
trustee for individuals or corpora
tions, all to be in accord with the
laws of this State, special reference
being had to Acts of March 9th,
1896, and amended in 1899.
Any who NAV desire to take part
in this enterprise, and who are not
liable to-, for any reason, to pay in in
cash the amount they desire to take,
| wish to say that l have arranged to
loan seventy per cent of the money
needed on this stock at 8 per cent
per annum that is to say, if you
desire to take, say one thousand dol
lars in stock, you need have only
three hundred dollars in cash, the
balance can be borrowed at 8 per
cent per annum on the stock, and
paid in in easy monthly payments, of
such amount as may be agreed upon.
1t is the opinion of the writer that
the dividends on the stock may be
counted on to pay the interest on the
borrowed money, thus enabling young
men, and others working for wages,
to lay up, month by month, and
have it already invested. The pro-
moter of this enterprise believes that
this is a splendid opportunity to
begin to save money.
1t will also be possible for persons
who have land, bonds, or other
securities to become stockholders in
this enterprise. The Board of Cor
porators have power to take land or
securities in payment for stock.
They of course will fix the price of
such commodity, and in justice to
those who pay in cash the price of
such land or stocks must be very
conservative one.
Very respectfully,
w. p. Anderson.
Westminster, S. G.