Accomack News, January 11, 1908
Untitled
Infrastructure -- Commercial - Residential construction
One of the handsomest homes on the Shore has just been completed for Mr. L. J. Kellam, of Belle Haven, at an estimated cost of $15,000.
Untitled
Forests -- Forest products - Mine propsForests -- Deforestation
Hallwood.
The mine prop business is on a boom at this place. It looks as if the pine timber will soon be a thing of the past. Steam mills might have worked for years, and still not exhaust the supply, but when mine prop business comes it will soon denude our beautiful landscapes, eternal evergreen views so much admired by those whose section have not our forever green pine forest. Will our peninsula be benefitted by this wholesale slaughter? Will be answered when too late to remedy the great disastrous results that may follow its destruction.
EASTERN LIFE ASSURANCE COMPANY OF VIRGINIA.
Infrastructure -- Commercial - Commercial constructionInfrastructure -- Commercial - Insurance companies
Annual Meeting of the Stockholders.
About one year ago the above named life insurance company was organized as an old line, level premium life insurance company, and like every new enterprise of its kind, its promoters have had both pleasant and unpleasant things to deal with since organization. However, at its annual meeting a few days ago its officials were able to show that it had accomplished a good work and that those interested had good cause to be grateful for what had been done.
Instead of having to expend its $10,000 of surplus as predicted by the insurance commissioner during the first year, the company has been fortunate enough to be managed in such a manner that the entire surplus is still intact and a dividend of 4 per cent. was declared on its stock, representing six months of business as nearly all business was written since the first of last June.
The Board of Directors have worked faithfully and harmoniously for the upbuilding of the company and its officials and fellow-workers deserve commendation for the faithful performance of their several duties.
Several recommendations were adopted on the suggestion of the Board of Directors. Among them being:
First -- That new by-laws be adopted as compiled by a committee of the Board to be submitted by Mr. Robert P. Graham.
Second -- That the capital stock be increased from $25,000 to $100,000 and that the $75,000 in stock to be issued be sold for $160 per share in amounts from one to ten shares to a person. This will increase the capital stock to $100,000 and the surplus fund to $55,000.
Any stockholder is permitted to purchase at $160 a share as much of the new stock as they may now hold of the first issue. A further and most important recommendation was that the company secure a home office building for an investment as well as to better safeguard itself and property from destruction by fire.
This building as contemplated is to be built in Onancockof brick three stories high with stores on the ground floor and the second and third stories for offices of the company, fraternal lodge rooms, etc. Several sites for this building have been sought and one will be secured before the spring opens when building operations will commence. It is needless to say that such a building will be a vast improvement for Onancock and will reflect credit on those who have the management of this young but most successful enterprise in hand.
Untitled
Transportation -- Road - MaintenanceInfrastructure -- Public : Schools
The Virginia Legislature convened this week in Richmond, and Governor Swanson's message was placed before the members on Wednesday. The message is just such a one as could be expected from our Chief Executive to whom all praise and honor is due for the admirable manner in which he has fulfilled the many and varied requirements of his high position.
In this message he rightly places more importance on good schools and roads than anything else, and suggests an appropriation of $250,000 from the State for roads. His recommendation is as follows:
I recommend that the State annually appropriate $250,000 for road improvement and construction. As our revenues increase in the future, this annual amount could also be increased. Our present receipts are amply sufficient to justify this annual expenditure for this purpose. I recommend that this amount should be used first to pay the expenses of the Highway Commissioner and the operation of the State road force, and that the residue be divided among the counties in proportion to the taxes paid by the respective counties into the State treasury, charging to each county the expense incurred in the county for working the convict road force prior to the date fixed for distribution. The appropriation should be available only to those counties, or communities in the counties, which will, in addition to the road tax now paid, raise an amount at least equal to that appropriated by the State. The joint fund thus appropriated should be used in the improvement or construction of roads selected by the concurrence of the Highway Commissioner and local authorities, the road when selected to be improved or constructed according to the plans and specifications of the Highway Commissioner and under his direction.
We believe the citizens of this county are sufficiently aroused to the prime necessity of some important action in regard to our roads, and as the NEWS has never ceased to air its views and those of other prominent citizens who have contributed communications to this paper, it is needless to say that we welcome the opportunity, such an appropriation will afford and feel assured that Accomack will receive her portion of the appropriation, should it be made, by fully complying with its terms, that is, to raise an amount at least equal to that appropriated by the State in addition to the road tax already paid. We believe this to be a wise proviso that should be incorporated in the appropriation if made -- for the reason that if we, or any other county do not realize the importance of the matter and are not willing to aid ourselves, we should not be aided. Rightly does the Governor say that Virginia has made a "phenomenal advance" in her public school system. We are thoroughly aroused on this subject, and the changes that have taken place in Accomack in the past five years are remarkable. The day of the log school-house is gone and in every community can be seen large, comfortable, creditable school buildings, thoroughly equipped and with good teachers to train the minds of our children.
Indeed we are far advanced in our educational system as compared to our public highways, and now that the most important one of the two has been looked after pretty thoroughly, it is time for us to take some important action towards a vast improvement of the other, and this recommended appropriation will no doubt furnish us the means for so doing.
The Governor's message on all matters touched upon are pointed and practical, and his suggestions in regard to a Department of Banking are especially worthy of consideration in view of present conditions.