Nashville union and American. [volume] (Nashville, Tenn.) 1868-1875, 1875-03-14
The Third national Itauk.

As page after page Of our notebook is
filed with memoranda relative to the banks
Of the city many items of interest appear.
There is an attraction about banks, too,
that is difficult to aualyze. The ediices
devoted to banking are usually Of superior
class-the vaults and safes indicate caution
as regards the treasures contained, and
each bank has its own peculiar individu-
atty, while at times its experiences are
startling and rarely monotOnous. Sensi-
tive to every report of good or evil touching
nations, peoples, individuals, crops, mercan-
tile success and failure, the monetary in
terest Of the country in many respects fore
shadow events Of importance as surely as
does the rising and falling mercury in the
barometer denote a change Of temperature
long before that change is experienced.
We have before had occasion to remark
that the banking capital Of Nashville is
large, and in the sketches Of the various
banks herein given We propose showing how
it is distributed aud who are the gentlemen
interested with its management.
The Third National Bank of Nashville
was organized in July, 1865, with an au-
thorized capital Of one million dollars, Of
which one hundred thousand was paid N.
Although since then no nominal increase
has been made in its capital, yet really it
has been increased to two hundred thou
sand dollars, by the accumulation of one
hundred thousand dollars surplus. Ever
since its origin the bank has been the reci-
pient of an exceptionally large business,
and its deposits for long time have aver
aged six hundred thousand dollars and its
loans and discounts half a million. No
change in officials has occurred aimee the
first election, DR.. w. w. Berry continuing
to Ofhciate as President, Mr.. Edgar Jones,
as Cashier, and Mr.. John Kirkman, as Vice
President. These gentlemen, in connection
with Messrs. g. E. Hillmsn and d. Weaver
constitute the Board Of Directors, whose
regular meetings are held Tuesday of each
week. The President, Vice President and
Cashier, also constitute an Executive Com
mittee, whose province it is to take action
upon applications for loans and other mat
| ters that come up for every day adiudica-
ton. The stock Of the bank is largely held
in this city.
propriate 10 interpOlate remark upon the
taxation which the National banks of the
city are subjected 20. An absurd idea pre-
walls that the banking interest of the coun-
/ try is a huge monopoly, paying no taxes
and gradually ealing up the substance OF
/ the people. Bank stock in the city OF
Nashville pays a rate OF taxation that aver
ages far in excess that of real estate, and
beside this municipal taxation, one pei
cent, is paid upon circulation and one-halt
Of one per cent upon deposits to the Gov
1 eminent. People complain Of the high
rate Of interest charged by the banks for
| accommodations, but they do not reflect
that this is rendered necessary by reason OF
/ the taxation imposed, which, IN the case OF
the Third National, amounts TO (for 1874
| 5000 city tax, $1,000 State and county
tax, $1,000 Government tax. Another
| fact remains, that to-day the banks of Nash
/ vile ask less for accommodations than
| those of any other Southern CITY, and
money is worth less here than in nearly
every city of the North.
Of the President Of the Third National
/ DR.. Berry (whO is also President of the
Equitable Insurance Company, we have
occasion to speak in an article elsewhere
1 upoAA Ll4G AAllCc1lC tldQt OF NdSLlNlllG
| firm Of Berry, DemOville & Co. Mr.
Jones, the cashier, has been connected with
the banking interest Of the city ever since
1857, and until the organization of the
Third National, he was with the old Plan
ters' Bank, first as bOOk-keeper and after
wards as teller.
The conveniences Of the Third National
for transacting business are ample. Its
offices, banking and private, are well ap.
| pointed, and the scene presented within its
doors, during 'houFs, (" is a busy one. Most
Of its exchange is drawn upon New York
| the Importers and Traders Bank being it:
| New York correspondent.
We might amplify to the extent of half (
column more upon this as one Of the rep
Iesentatives Of the mOnied interests o
Nashville, but the foregoing sufices to pre-
sent facts, with such observations as fact.
justify. The bank has been busily engaged
in working out its destiny, and the worl
will doubtless continue these many years