Savannah morning news. [volume] (Savannah) 1868-1887, 1881-02-11


Considerable interest has been expert
enced for some time past regarding the prob
able successor Of the lamented Capt. John
Mcmahon as Vice President Of the Southern
Bank Of the State of Georgia. The Presi-
dent, Eugene Kelly, Esq, resident Of New
York, arrived in the city few days ago, as
has been stated, and has been in consulta-
ton with the officers aud directors Of the
bank. This institution is in fourishing
condition, the business having largely in
creased Of late years. Yesterday a final
meeting of the Board OF Directors was held,
when the resignation of Mr.. Kelly as Presi-
dent was rendered for reasons given, and
was accepted, though he still retains his
connection a director. The Board then
entered into an election for President and
Vice President.
captain John Flannery was unanimously
elected President and Horace A. Crane,
Esq Vice President, In place Of Captain
Nc Mahon, deceased. These elections will
undoubtedly give general satisfaction to the
patrons of the bank and the community at
large. Captain Flannery is known as one
OF our most prosperous and prominent mer-
chants, aud the possessor of excellent finan-
cial ability and good judgment.
Mr.. Crane, who has been honored with
the high position OF Vice President, has
long been In the service of the bank, and
Tor number of years past its very efficient
and popular Cashier. He is eminentlY COM
petent to assume the duties of his new posi-
ton, and his promotion, which is deserved,
will elicit for him the congratulations OF
numerous friends In the community where
he Is so highly esteemed.
The election of Mr.. Crane rendering va
cant the position of Cashier, Mr.. James Sui
livan, chief bookkeeper, was elected to that
position pro tenn.
Other matters of importance were consid-
cred by the Board, and action taken OF In
terest to the public. Some time since men,
ton was made in the MORNING NEWS that,
in consequence of the largely increased
trade and commerce of the city and State
for the last few years, and the general pros
perity, the lamented Vice President of the
Southern Bank strongly favored an Increase
of its stock. Last summer, by resolution OF
the Board OF Directors, Captain Mcmahon
was requested, while In New York, to call
upon Eugene Kelly, E.q., the founder and
largest stakeholder of the bank, as well as
the President, and explain to him the i'm
portance and necessity of increasing the
capital of the bank and of building within
the bank safety deposit vault.
Mr.. Kelly heartily agreed with the views
CAPtcooSu Ny Gu6 DOdTu, anu promised TO
join them In all their undertakings.
At its meeting yesterday these matters
were again considered, and the Board of
Directors determined to increase the capital
of the bank to the full amount deemed re-
quisite, and to also build a safe deposit
vault and to make other necessary improve
ments. The salaries of all the employees
were considered, aud were moderately in
creased. The officers and employees are all
citizens Of Savannah, and well known for
competency and efficiency In the discharge
of their official duties.
The savings department of the bank has
been well and faithfully managed, and its
chief clerk, Mr.. Joseph Copps, has merited
the respect and commentator of the dtree-
tors for his integrity and efficiency. This
department was pet OF Captain Mcmahon,
and was established by him to encourage
thrift and economy among the working
classes. He restricted deposits in this de-
partment to moderate amounts, In order
that its benefits should be mainly confined
to those of small means. 1t is now In a
lourishing condition and has large num-
Der of depositors.