The West Virginian. [volume] (Fairmont, W. Va.) 1914-1974, 1917-08-18
Plan Was Explained at Din
ner Given at the Fair
mont.
is GREAT OPPORTUNITY
Details Worked Out By
Great Baltimore Banking
House.

AL DduQ0Gk 1SANSS ~
mont last night to the bankers and
othe> representative business men OF
Marion, Harrison and Lewis counties
man was presented by which it Is hopeo
n effect a stronger bond OF co'opera
ton and good will between the Monon
gahola valley Traction company and
the citizens Of the communities along
its zines, it's patrons and employees
The plan, as presented last night by
r. s Mathews, representative OF the
banking firm of Robert Garrett 4 Sons
baltimore, who have perfected the plan'
ia to permit the employees and others
Who NAV be interested to acquire
limited amount of preferred stock ana
common shares OF the NJ. V. 7. Com
pany, and thereby participate in the
ownership of the company and acquire
proprietary interest through the APP
plicatlon of their savings month oy
month to the purchase of shares.
,, The firm Of Robert Garrett g. Sons
through a number Of banks along the
line OF the Traction company Is pre-
pared to receive subscriptions or
shares of stock Of the MonQngqhea.lsa
valley Traction company, and on sucn
subscriptions as are confirmed, the
Baltimore banking firm will arrange
for a local banking Institution, mutual
" agreed upon. to purchase the shares
and carry the same for the account OF
the subscriber.
q. S. Mckinney, who presided as
POSTMASTER, arose when the last course
hal been cleared away and after
brief review of the development OF this
valley of the Monongahela, in which
he emphasized the important part
which the city of Baltimore had played
in that development from the very first
anu the close community of interests
existing between Fairmont and Baltt-
more, he introduced I. Stockton Math-
ews, who with George E. Kelley repre-
sented the Baltimore banking firm.
Mr.. Mathews outlined the plan for
permitting the people of thi sCommun-
ity to share in the stock Of one Of the
most important an drapidly growing
enterprises in this state. The plan
which is to be put into effect is as fol-
lows.
Tie price of the shares will be forty
three dollars for each combination OF
one share of Preferred and one Of Com
mon stock, but no more than fifty
shares Of each will be confirmed to
any one subscriber under this plan.
An initial payment of seven dollars
will be required on each combination of
Preferred and Common stock, which
will be credited to the subscribers ac'
count at the banking institution, the
subscriber agreeing to pay the balance
in installment of three dollars month
on each combination of stock until the
investment Is paid for.
The subscribers account will be
credited with all dividends received
on the stocks and will be charged with
interest on the balance at the rate of
six per cent. per annum, such charges
to be made quarterly. On the present
dividend basis the stocks will return
the subscriber about $40 per cent. on
the investment.
Under this plan the shares will be
fully paid for in one year, the last pay.
ment being an odd amount which will
adjust interest charges as against divl-
dends received. Subscribers may an
ticipate their monthly installments and
complete the payemnts at any time.
In the event Of subscriber failing
TO pay his monthly installment when
due he will be given thirty days of
grace with proper adjustment OF in.
terest) and If payment is not made at
that time the banking institution shall
have the right to sell the stocks
pledged, at the market price, returning
to the subscriber any excess over the
amount realized from the sale.
The opportunity afforded in this way
for patrons and citizens Of the com.
munities along the lines Of the railway
is an exceptional one inasmuch as the
NJ. V. T. Co. is a prosperous and rapidly
growing concern with an authorized cap.
ital stock of 100000 Preferred and
$4,000, 900 Common, both classes hav.
ing par value of S25, full paid and
worcestershire.
At the conclusion Of the address by
Mr.. Mathews in which he outlined the
above plan, Toastmaster Mckinney in.
troduced George W. Bowers, of Man
nington, who said that he was glad Of
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