Daily press. [volume] (Newport News, Va.) 1896-current, 1905-04-04
Valuable Residences on Twenty.
seventh and Twenty eight
Streets Sold Yesterday.
NEW COMPANY TIE pURc HAST R
Filing of Deed Gave Official Notice of
Incorporation of the Fidelity-Trust
Corporation of This city-Names
of Prominent Capitalists on list of
Officers and Directors.

a decd conveying twenty-five lots
and twenty-five dwelling houses from
The Low estate TO the Fidelity-Trust
Corporation, of this city. was fled in
the clerks Office of the Corporation
, Court yesterday morning The cOnsld-
GRAFTON was $4,000 and the transac-
ion is regarded as one Of the most inn
p0rtant business deals put through
here for some time.
The filing of the deed wasi the first
official notice given here of tho in
corporation of the FideltyTrust Cor
pOratiOn. the organization of which
has just been completed. The company
has broad powers under it's charter
AMI will do general trust company
business at 1870 TwcntysiXth street.
with the secretary, MIR. J. l.. Patton
IN charge.
The property purchased from the
Low estate, embracing as II does. a
row of fifteen brick residences on The
south side of Twcnty-cighth street,
between Washington and West ave-
nues. and a row of frame residences
on tho north side of Twenty-soventh
street, just back of the brick row is
certainly a very desirable asset. 1t
had to be sold because the Low estate
is being settled up and The purchasers
arc cOngratutating themselves upon
The price for which it was secured.
The capital stock OF the Fidclii,.
Trust Corporation is 100000 AMI as
practically all OF it has been disposed of.
IL has not been offered to the public.
Some of The most substantial bust
;.x Ia. -,
directors and capital from various
parts OF the country is represented in
tho company.
Following is II list of the officers
and directors:
President. p. Stearncs.
Secretary l.. Patton.
Treasurer-W. H. Kellogg
Dircctors-Jos f. Willard. of Rich
mond; d. l-owenberg. Norfolk; J. NJ.
Curtis. of this city; Henry w. Amber,
son; Richmond l.. p. Stearnes, of this
city; G. e. Doyle, Richmond w. II.
Schmelz, DR. B. II. Gary, Il. J. Patton.
J. L. Patton, w. II. kellogg. Alexander
Wills and J. a. Willctt, of this city.
The Commercial ana Financial
World Of New York city in its current
issue. announces the Incorporation OF
the company and has the following to
say about Newport News and the new
organization:
. II can be said without fear OF sue
ccSsful contradiction that there is no
city in the South that is making more
substantial progress at the present
time. or has before il more satiSfac-
tory prospects for the future, than
Newport News, Va.
Tho wonderful great natural adj
vantages OF the city are better under
stood today than ever before. Its mcr-
chants. bankers and other business
men have been tried as by fire. during
the hard times Of the past few years,
and have come oul like fine gold seven
times purified With varied and con-
stantly growing channels of wealth
meeting at Newport News as COM
mon centre, it is not at nll strange
that her development has been rapid
and ever more promising, making the
future as solid and secure as the past
has been rich and gratifying.
"One of the new undertakings of
the city, TO which it is proper to refer
in this connection, is that of the
Fidelity.Trust Corporation, recently or
ganizcd under the laws of Virginia
with capital stock of 100000.
"Of these gentlomeli it may DO
said that Mr.. Stcarncs, the president,
is man of large means. and high and
honorable standing In the community.
His sound Judgment. wise methods
and ripe experience make it certain
that he will make success of The
work he has now in hand.
Secretary j. l.. Paitan is head of
The firm Of j. l.. Patton & Co., well
known customs brokers. forwarding
agents and insurance underwriters OF
the city Mr.. Patton has taken an
active part in the formation Of The
company, and will take All active part
IN it's management He is a man of
fine ability and great personal popu-
larity.
Treasurer W. H. Kellogg is man
OF much experience in financial affairs,
and his election has been commented
upon in the most cordial terms of all
who knew him.
None Of the stock of the Fidelity
Trust Corporation has been offered to
the public, most of it having been
aiken in the city and the neighbor.
hood a large part of the assets of
the company is invested In securities,
which arc recognized as being the
best and safest in that section. 1t Is
possible that small amount of stock
may he offered to the public later on,
in which event there is no doubt but
twill he speedily taken mp"
v -------------------------
YOUNGsTER BEAT THE BANKS.