The Progressive West Virginian. [volume] (Williamson, W. Va.) 1911-1913, 1911-08-10
The Atlas Building and Loan As.
ISOLATION.

Atlas Building and Loan Associa-
ton, authority to begin business.
This is new and very promis-
ing financial institution establish
ed at Williamson and organized
by local people. Its founding
will fill a long-felt need here,
since it affords many of our peo-
pie that which they have long
wanted and have never before,
had, to-wit: An attractive plan.
to save something from their
earnings, and earn something on
their savings; and to obtain loans
of money for building or buying
homes with an arrangement to
carry and pay off such loans BY
moderate monthly installments.
The Association is wholly own
ed and controlled by local men
and will be operated for the bene-
fit of the people of Williamson,
and Mingo County. The plan Of
operation is wholly mutual and
all stockholders will share in the
earnings of the corporation, the
small investor who invests five or
ten, or more dollars a month from
his savings, as well as the owners
of the Investment Stock.
The plan is most excellent
one, and one destined to result in
much good to our people; while
primarily it, of course, will be
conducted for the profit of it's
stockholders and mem bers, it
will be beneficial to all our peo-
pie, as it will foster building and
homecoming and mean much ac-
tivity in these lines. The chief
object is to encourage thrift, fru-
gality, saving and HOMECOMING.
The Atlas Building and Loan
Association is capitalized at three
hundred thousand dollars, and it
! is believed that all it's stock will
be subscribed for within the first
six months. Already more than
one-half the investment stock has
been sold and scores Of requests
have been made for installment
stock.
Many ofeour best business men
and financiers are interested in
/ the Association, which in itself is
a guaranty Of its entire solvency
and security, and an assurance it
will be prohtably and ably man
aged.
The lnstallment stock will be
offered to the public within few
days just as soon as the Asso-
citation can obtain the necessary
certificates and books. This
stock will be sold by solicitors of
the Company, who will explain
the entire plan to those interest,"
ed.
| This stock is of the par value
of $4,000, the share, and is paid
for at the rate of S1.OO the share
per month, the payments being
made until such time as they to-
gether with the earnings on the
stock make the payments equal
the par value. when the stock
holder can surrender his stock
and receive cash for it. Twice a
year the net earnings of the stock
are distributed as dividends to
the stockholders, the earnings of
thelnstallment stakeholder being
credited on his stock to hasten
Its accumulated value and matur-
ity.
ANY stakeholder can obtain a
loan on approved security when
the Association has money to loan
land it is all to be loaned to stock
holders) provided he complies
with the req uirements of the AS
ISOLATION made tor it's protection
and the profit of it's members
An Investment stakeholder NAV
withdraw at any time and obtain
his stock payments and earnings;s
and in case of i'll health or mis-
fortune, liberal indulgence is
given him.
The entire plan is believed to
be the most attractive and dssir-
able that can be adopted for those
who want to own their own homes
and to acquire them by method
that requires but little, if any.
more money than is now being
paid as rent for such homes.
The following we'll known citi-
zens are the active spirits in the
establishment and management
OF the Association: E. F. Ran
dolph, J. Levine, Alex Bishop,
David Brown, B. r. Bias, r. B.
Parish, ]. H. Green, DIR. Tunis
Nunnemaker, Harry g. Williams,
Sheriff w. A. Hurst, G. r. C.
Wiles, J. Lewis, N. H. Manakee,
w. 4. Poole and w. c. Porter.
The Association organized this
week by electlng a board of d.
rectors and other officers. The
officers are: Alex Bishop, Pres
ldent; r. B. Parish, Vice Pres;
II. g. Williams, Secretary; J. Lee
vine, Treasurer and B. Randolph
Bias, Chief Counsel.
L 4.