Richmond times-dispatch. [volume] (Richmond, Va.) 1914-current, 1919-11-02
FORM 100000 FIRM
TO AID HOME BUILDERS
company Is Organized by Business
: Men to Loan to Those Erecting
Residences.
ADOPT PLAN USED ELSEWHERE
Stock May BE Bought Through
Small Payment Arrangement
Oscar e. Parrish Elected President
and John G. Freeman Secretary.

Organiza, ton OF a company with
o nap OF 100000 for the pur-
own their homes By loaning them
money under the most practical and
economical plan possible. was an
man. secretary treasurer clcct OF the
proposed company.
John n. Miller. president OF tho First
dent Of the Church Hill Bank, and w.
Creed Davis, president Of the Sitterd-
ing. carneal. Davis Company, are among
number Of business men Interested
In the, new organization.
Although the officials of the COM
pany state that they will buy or sell
fundamental purpose OF the company
will be to urge the making of homes
by aiding citizens 10 own their own
property.
Plan Proves Success.
- BY plan which has proven success
ful elsewhere and has been Endorsed
by sound business men as the most
economical devised. it is the purpose
OF the company TO loan money through
tho sale OF their stocks on weekly
payment plan at per cent interest.
Through this plan the company. for
,.Whieh no name has yet been chosen
Ny the interested persons. will sell it's
stock with an initiation fee of 25 cents
per share over and above the cost
price. This company will pay stock
holders per cent interest and loan
It's money at per cent interest. the
imitation Zee TO cover all overhead
These VIII be very slight. in the es.
officers will be salaried except the
man. II Is planned TO conduct all or
the business OF the now company. when
n is once under way. on one day
week. keeping an office open only for
that day. On this day all payments
and purchases OF stock will be made.
saving plan is also being worked
fIi~ia lC nv hi q
plan the corporation Will operate un-
der practically the same plan as the
man paying out loan except that
the money which he pays in will be rs
payments on stock in his possession
instead OF realty mortEaged by the
company, Under the saving plan the
initiation plan and weekly payment
made OF 25 cents per share.
In period OF six and a half years
such payments will amount 10 Ss3.23.
and will have earned in interest 3l6.I5.
making each share OF stock when com
plctely. paid up. or at the end OF the
At the time when $685. is paid in on
q share of stock through this plan /,
will be Cancelled by the company and
the holder paid face value for 1t. or
500.
AS matter of convenience to such
savers banks In Barton Heights. the
East End, the South Side. Fulton and
Broad and Main Streets are 10 be
arranged with TO receive these pay
mentS.
Within a few days it is planned TO
file application for a charter for the
company with the State Corporation
Commission and to begin active oper-
atoms. AT presen, such action is said
10 be held up until the officers decide
upon 4 name for the new company.
Omcers Are Selected.
Several meetings have been held in
which the plans for the new company
were formed. Al meeting Friday
afternoon officers were elected. They
are: Oscar l.. Parrish. president; W.
Greed Davis, vice-presideni: John c.
Freeman, secretary-treasurcr Di-
rectors-John NJ. Miller. Jr.. W. Creed
Davis, II. S. BinswanGer. r. II. Mott.
Joseph W Stewart. W. a. Clarke, Jr..
Julian II. Hill. J. Q. Scott. J. II. Pat
terson. j. Lee Davis and Oscar L. Par
rish
Those who subscribed to the stock
were:
Wiiiiiiam I'll Il White ]. c. Easiey
=. NJ. Darlington w. Creed bavi.
Coleman WORKMAN Julian II. Hill