University of Virginia Library

Charlottesville Perpetual Building and
Loan Company.

Among the greatest benefits to any
community are the building and loan
associations, as they give men of moderate
means an opportunity to own
their homes and in such a manner
that the small monthly payments are
never missed. Of the institutions of
this kind in the South none is more
prominent or stands on a firmer financial
foundation than the Charlottesville
Perpetual Building and Loan
Company. The offices of this thriving
enterprise are located in rooms 1 and 2
People's National Bank building, and
are in charge of Mr. Walter Dinwiddie
one of the officers of the concern.
This business was established twenty

years ago. Its members are the most
influential people in the city, although
rich and poor are numbered among its
patrons. The company was chartered
in March, 1886, to do a general building
and loan business, under the name of
the Charlottesville Perpetual Building
and Loan Company. It originally
issued $50,000 in stock, and at the end
of the sixth year issued $50,000 more.
In 1896 another issue of $50,000 was
made, running the total to $150,000.
Ever since the first series were paid up
the company has been paying par
value for the stock. They are dealers
in real estate, selling and renting
houses and lots in desirable localities.
In other words, general real estate is a
feature of their business. Mr. Dinwiddie,
who has held his present office
for the past eight years, is well known
in our business life. In addition to his
connection with the Building and
Loan Company he is local agent for
the New York Life Insurance Company,
one of the strongest in the world,
and has placed many policies in this
section for them. Since organization
the company has loaned money to build
and in many other ways helped to
build property that has increased the
assessable value of real estate in Charlottesville
nearly $400,000. This in itself
is a showing that cannot be excelled
by any other institution in our community.
The offices of the company
are: President, H. M. Gleason; Vice-President,
Col. Thomas S. Keller; Secretary
and Treasurer, Walter Dinwiddie;
Solicitor, Capt. Micajah Woods;
Directors, Phil Leterman, F. B. Peyton,
W. J. Keller, E. E. Dinwiddie,
Dr. W. E. Norris, J. W. Fishburne, H.
A. Dinwiddie, C. L. Lacey, M. Kaufman.
The constitution and by-laws
are most liberal and the rate of interest
charged on loans is the lowest legal
rate. Loans are made in sums from
one hundred dollars up to very large
amounts, and every borrower is guaranteed
fair and square treatment,
with none of the vexatious delays that
usually accompany such transactions.