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ranties} 16 counties affected by flooding as disaster areas would qualify them tor federal » assistance including loans of up to $2,500 j for personal losses and 100 per cent i federal coverage for public facilities damaged or lost in the flooding.Moore listed these counties in his re-, quest: Barbour, Brooke, Doddridge,j Berkeley, Jefferson, Greenbrier, Hamp-h shire, Harrison, Hancock, Marshall, Mon-j roe, Monongalia, Morgan, Ohio, Preston j and Wetzel.Mrs. Theodora RutherfordBank OrganizerDunbar GroupSeeks State Bank CharterAn application has been filed for a state charter to establish a new bank in Dunbar to be known as the Community Banking Savings Co.The organizing group is headed by Andrew A. Payne Jr., a former vice president of. Charleston National Bank. He was bank investment officer for 12 years.The group includes Mrs. Theodora F. Rutherford, a West Virginia State* College professor, who is credited as the first woman in the state to become a certified public accountant in 1959.m * +THE APPLICATION calls for capitalization at $600,000 and an offering of 20.000 shares of stock at $30 per share with each shareholder limited to 5 per cent of the total stock.“Dunbar is situated in the middle of the population area of Kanawha County,” Payne said, referring to the growth prospects of the Dunbar trade area.The proposed bank, he noted, is to be at 11th Street and Myers Avenue across the street from the 13-acre urban renewal area. In addition, he added, a 19-acre shopping mall is under consideration by a private developer.When the interstate highway system is completed, it will contribute to the economic growth of the area, Payne said. The trade area has a population of 31,000 including the Spring Hill section of South Charleston, Institute and Tyler Heights.* * *THE GROUP ALSO has filed application with the Federal Deposit Insurance Corp. to insure assets if the charter is granted.Other organizers are George Denton of Dunbar Finance Co., William P. Marshall of Lee-Marshal Insurance Agency, and C. Edwin Conley, a Charleston area representative of State Farm Insurance.If the application is approved, the Community Banking Savings Co. will be among that handful of banks in the state with a woman director.Mrs. Rutherford is a graduate of Howard University and holds a master’s degree in business administration from Columbia University. She was appointed to the West Virginia Small Business Advisory Council in 1965.
Newspaper Details
Charleston Gazette
Charleston, West Virginia, US
Tue, Jun 27, 1972
Page 19
Full Page
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USA 22 Mar 2019
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