The Roanoke times. [volume] (Roanoke, Va.) 1890-1895, 1892-01-13

dent Coon, of tho Commercial Ma
tsonaI, Submits an Interesting Report.
The stockholders of number of
banks held their annual meetings yes
terday, and the reports OF the different
officers showed the financial institutions
of Roanoke to be in very prosperous
condition. The meetings all passed off
very quietly and perfect harmony pre-
vailed. In every case tho old officers,
who have done such good work for the
past year, were reelected.
TIE FIRST NATIONAL.
The stockholders of the First National
Bank met in their banking room at 12
o'clock. The president submitted his
report for the past year, which showed
very successful condition of the bank
in every respect. The stock was we'll
represented, a good deal more than
majority of the stockholders being pre-
sent. This bank has capital stock OF
100000, surplus of 100000 and I'M
divided profits of $4,000.
The following board of directors were
elected: III. S. Trout, p. l.. Terry, j.
M. Gambill, S. w. Jamison. w. g. Evans,
Il. M. Starkey. Il. c. Denton, d. nj.
Hatcher and b. T.. Moomaw. II. S.
Trout was elected president; p. L.
Terry, vice-president; j. w. Shields,
.lr., cashier; j. f. Meadows, assistant
cashier; III. +. Loving, teller; John L.
Trout, exchange clerk; Il. Il. Spencer,
j. M. Airheart, p. +. Saudi, w. S.
Marston and Ii. c. Penn, book-keepers.
THE COMMERCIAL NATIONAL.
The Commercial National also held
their meeting at IL o'clock, and Presi-
dent Coon submitted the following very
interesting report:
TO the Stockholders of the Commercial
National Bank, of the City Of Roam
okc, Va:
GENTLEMEN: AS president of your
bank beg leave to submit the following
report: We have just passed through, in
tho United States, one of the most
phenomenal crises that has ever visited
any country. The financial stringency,
which was caused by the embarrass-
ment of tho Barring Bros, the great
European bankers, in October, 1890,
which brought all business to a stand
still in the country and caused great
embarrassment to our people by export
ing over $40, 600, 900 worth of gold from
sulting in our security being thrown
back on American market. thereby
compelling us to take care of the same.
Notwithstanding, our markets have re-
covered and today have in New York tour
great money center) over eighteen mil
lions OF dollars more than their legal re-
serve.
In the beginning of last year there
was, what was believed to be by foreign
governments, sufficient gold shipped
from this country to Europe to bankrupt
America, and America especially re-
ceives congratulations from all the big
money certers in the world on the man
ner in which she has stood the drain.
We are congratulated in America from
London, Paris, Barcelona, Madrid and
all the other great money centers of the
world, and my opinion is that the effect
of the past crisis will very much
strengthen America in the FUTURE and
it is a fact, on which we deserve con-
graduation, that the money stringency
has been felt less in the South than in
the North and West, and the people in
the North and West are willing TO ac-
knowledge this fact.
Another point which think will up
build and strengthen US when we come
to Roanoke, is that we have been re-
markedly successful. We have had no
business failures that amounted to any
thing, and no bank failures at all, and
all the bankers have kept the heads of
Gheir respective customers tout of
water"
Since the outpour of money from New
York and other money centers, to
Europe, great change has come over
the country, to-wit: A most gigantic
wheat crop, which commenced early in
the fall to bring money this way, and
to-day can say to you, that the wheat
crop has brought back more gold to
America than was taken away during
the money stringency. l will state
that the surplus money now held in
New York is SlS, 100000 above the legal
reserve, which amount will reach this
country for investment soon, money
being now easy in New York, on call al
ga to per cent. and per cent. on
time.
With reference to onr own bank. as
matter of course, like other banks, dur
ing the money crisis our deposits went
down, but for the last two or three
months they have been holding their
own, with every indication of improve
ment. We have more accounts on our
books now than we had at the time wht n
our deposits were larger, showing that
the bank is increasing in popularity
and the reason for tho small amount of
deposits is because individual deposits
are small. Out of the amount of bust
ness done by the bank am pleased to
state that we have not lost dollar. and
that our bills arc continually being