The times. [volume] (Richmond, Va.) 1890-1903, 1891-05-06
CAROLINA'S QUEEN CITY.
Impressions Made Upon The Newspaper
Correspondents.
THE BANKS AID BANKING FACILITIES.
Interesting History or the Officers and opc-
ratI0Bs OF These Institutions
Facts and Figures.

Queen City Of the North State. It's people
are charming and the stranger is met with
warmth and open-handed hospitality that de-
lights the soul. and callous indeed must be. he
who does not heartily respond to such sincere
cordaity. | confess. without fear Of seeming
sentimentaity that have surrendered 10 It's
softening influences and acknowledge Omar
lOtte 10 be a perfect eXemplhcaiion OF an
ideal Southern city Too much cannot lie
said of its beauty and worth, and It's people
are so friendly 50 kind. 50 thoughtful, that-
well il is lust simply refreshing even TO one
who halls from State noted for Its hospital
ity. ,.. - 49,.
unanimous in their praise of Charlotte. These
men are accustomed 10 write up booming
towns. There are bOOms and boOms. but
they found none in Charlotte. hey are
capable Of writing up boom in the most
approved stereOtyped style. but theV iound B9
use for stock phrases here. This they did
fDd-a hustling stirring. pushing town. with
no drones, but every man worker town
with all the elements OF success stamped
upon it. There are 10 speculative values
here, but steady growth and firm resolve
among its people TO make Il grand city.
They have set the mark high and If the signs
of the times are not misleading. they VIII yet
shoot alb v i. This all pervadn9 confidence
and full concordance. this hauling away to-
gother with every man at the rope. gives
character 20 industrial progress that Is irresis
tible. 1t is q sweeping tide that will carry on
its bosom glorious victory.
This indomitable SPIT has kindled
sympathetic fire even IN The hearts OF the
Wis )rs. and the prediction OF tutuse great
ness y made on every hand.
The deserving conditions nd magnitude OF
the enterprises here 50 impressed the news
paper correspondents that they determined
upon M organization by which the work OF
making known Charlottes future could be
Systematically dealt with. Som pursuance OF
this idea a meeting Of the various cores
pondeuts was held Saturday. a press club
formed aud named the -Four C's Press Club
Of Charlotte. in honor Of the -Four C's Com
pahy. which Is projecting tho new town OF
DiwOrih and doing so much for the develop
ment of the immense resources OF Charlotte
b. NJ. Blackburn. Of the Atlanta Constitution
was elected president. and proceeded to
assign the different industrial enterprises
70 his CORDS. That of the banks fell
10 nv share. No subject presents
more fascinating theme than the growth and
development of the SOuCh IN finance and
manufacture. This part OF the story has never
been adequately told. nor has II reached It's
climax for the present aspects of this increase
in wealth in Charlotte relate 70 beginnings
and not omplishments. The use OF bank
lug operations, so long neglected IN the South
because of her slender industrial enterprises
are now thoroughly appreciated in Charlotte
under the new order of things. Manufactures
have multiplied and as natural result OF de-
velOping industries the values Of land are In
creasing. the people are inspired with IN
wonted energy, and all the resources Of nature
are pressed into wealth production. Char
lOtte has incomparably the finest banking
facilities in the State of North Carolina, and
in comparison with It's population IS not ex,
ce,led by any city in the South. This broad
assertion is made after q careful investigation
of the subject and the consultation Of reliable
banking directories. There are three national
banks and one private banking house in this
city. all of which stand at the head OF the
banking institutions Of the country. The
combined cash banking capital of Charlotte
fO0ts no in round numbers the attractive sum
of 81 $4,000. No other city in North Caro-
lima can compare with 1t. With population
below that Of three other cities her banking
facilities are 30 per cent. greater than any 81
them, twice that Of one and three times that
Of another These figures are taken from
Rand, McNallv 4 Co.'S banking directory,
and To rob il Of that invdiOus character which
attaches to all comparisons names are not
given.
A leading question with business men seek
ing new location l., How are your banking
facilities: That 1t can be satisfactorily
answered here is beyond cavil, and the query
also comes up: How is it that Charlotte has
Al apparent excess of banking capital. and
can she support protitably 50 many banks,
The answer is that Charlotte lies III the md
die Of the cotton belt. her cotton is manu-
featured at home, her cCtt0n-seed IL made
into oil within her doors, and the refuse goes
into valuable fertilizers 1t Is the law OF de
mand and supply. Over three hundred and
fifty dollars per day Is paid 10 white labor by
cotton factories III this city. CharlOtte's
money is at home working up her raw ma
terial. and large capital and fiOurishing banks
are the consequence. The undivided prOhts
in CharOtte's four banks Al the close of last
weeks business was two hundred and twelve
thousand dollars. while the money on deposit
amounted to one million one hundred and
twenty-five thousand, making the practical
actual money circulation over two millions VI
dollars. On this record she challenges com
parlsOn.
The first bank visited was the Commercial
National Bank, of which Mr.. j. >. Spencer IS
the president and Captain A. q. BTeniZer Is
the cashier. This bank is growing in popu-
larity and makes a fine showing III ITS state
ment, and like all the other banks in Char
iOtie paid It's usual five per cent seml-annual
dividend January lst Its capital Is $4,000.
while il has a surplus OF c30,OSO and an undl-
vided profit account Of $4,000 on the ledger.
Its deposit account averages s35O,00O TO $780,
90.
Mr.. Spencer is one of the most influential
men of Charlotte. and. besides his business
connections here. IS president Of the cotton
mills in rutherford and Randolph counties.
Captain Brenizer has been its cashier since il
commenced business in 1874. and besides
is man of very high character and thoroughly
familiar with the banking business
That the First National Bank ot Charlotte
Is q solid institution goes without the SAYING.
1t has $500 900 capital and 500 900 surplus.
1t was established in August, 1868. being the
first national bank 10 DO business IN North
Carolina at the close OF the Confederacy.
and 1t stands high in the estimation and con-
fidence OF the commercial world. Its officers
are sagacious and careful and II. NJ. Oates,
president. is also president Of the Charlotte cot
ton mills and a director in the Victor, both in
this city hlr. Z. Pegram the cashier, Is also
prominent in business matters. being dlrec-
Tor in the Victor mills, Gas Light Company,
the Charlotte Columbia and Augusta rail
road and member OF q wellknown shoe
finn. This bank has al undivided profit fund
of ss5, OO0 and carries on deposit from $780,
600 70 sl00. 00D.
Mr.. J. Ii. McAden. besides being The presi-
dent Of the Merchants and Farmers National
Bank. is president of one OF the largest cotton
mills in the State, and conducts drug store
also. Nh j. Il. Holland. the cashier. Is also a
prominent man Of business, and connected
with several other enterprises. Although this
bank has recently paid an extra dividend Of 10
per cent in addition 10 the usual semi-annuai
dividend of per cent, il carries on its uu-
divided profit account 40. 900. This bank
was organized in 1871. 10 has cash capital
xtrf.t 10