The Columbia herald. [volume] (Columbia, Tenn.) 18??-1935, 1893-05-05
ONE SOLID BANK LEFT.
A Herald Reporter Investigates the
Methods and Business Ct the
Maury National,

Auo ldeb lCW Wcchb uhN0 U66u eA-
squally, both for banks
aud for those who do business with
them in this part of the State. The
confidence of the people in this COM
which WIS badly shaken
by the Nashville failures, has been
It'll worse hurt by the suspension OF
the Second National Bank OF Column
bia aud there are some pc pie who
are sayiDg they will never trust their
money i'll u bank again.
The prOvUcation to such a conclu- !
sion is great; but after all, backs ale
necessary for he conduct OF business
aud a property conducted bank is
the safest place in the world 10 keep
ones funds in.
The people Of Columbia and Maury
County can congratulate themselves
that the Maury National is that sort
Of tauk, and their money pat into
it, is US safe rs in the United States
Treasury vaults.
Tue following facts in regard to
this bank will be of special interest
just ut thus time. It's subscribed
capital stock is $50 000 OF this
amount 500 900, has been paid in, aud
the remaining $4,000 has been called
and according to banking laws must
be paid by August lsJ. This is sixty
thousand dollars of security for
deposits; but in addition, under the
laws governing National banks,
every stakeholder is liable for as
much more ss the stock he holds,
and since the stockholders of this
Uauk are among the most RESPONSE
bic men in the county, The capital
stock is practically $4,000.
The safety and success of any
bank depenu upon its proper mau-
agement and control. AS guar
antee that the Maury National will
be conducted OIA tue souDdest bust
ness principles, it ID only necessary
To read over the following list of
officers and directors: Geo. T.
Hughes, President; r. G. Church,
Vice President; Lloyd Cecil, j. w.
=. Ridley, A b. Rains, j. z. Street,
G. w. StUckard, John b. Ashton, f
Il Armstrong, A. b. Harlan, James
Andrews, J. w. Howard, w. NJ.
Cheairs, K. w. Gamble and w. W..
Joyce.
The internal management of the
banks affairs is as follows: There is
Finance Committee, composed of
three directors and the VIce-Presi-
dent aud Cashier, which meets every
day aud passes upon all paper offered
for discount.
The objection Of q single memle r
Of this committee to loan IL suffi
cient to defeat it. This secures the
acceptance Of only gilt edged paper.
In addition TO this, the board, under
lis by-laws, il required and does meet
at least once every month, aud often
er il necessary, aud goes owe: all the
discounts accep Ell by the Finance
Committee the previous mouth, aud
passes upon the sOlvency OF the loans
And in addition TO this, there il
still another committee, known 81
the Executive Committee, composed
ut the present time OF A. b. Rains, ]
z. Street, Lloyd Cecil, A. B. Harlan
and John b. Ashton, which meets
once every three months, without
Notice, and makes thorough eXami
nation OF all the banks affairs. Thil
committee counts all Jne money
opening packages of bills to do so
examines and lists bills receivable
; examines aud compares the books
| verities the ba 'ances with other bank
aud the Cashiers daily statements
: and submits full statement to tn,
board. The value Of such all eXami
nation az This, as compared with tina
made by the National Bank Exam
2 lner, is seen at once.
In the matter of bonds, the Presi
dent, ce-President and Cashier ar
required to give bOpds Of $4,000
= each, with one of the Guarantee Com
panies AS security; and each book
$1,000. Should the directors fail I,
require the making and filing o
these bonds, they ARE themselves, un
der the law, liable for the negIec
{ aud for any default that might occur
while the officials were withou
bonds.
The failures in the banks, both il
Nashville and Columbia, heretofore
have been the result, to large eX
tent, of one or two officials havin
toO absolute control, and eithe
using The funds OF the bank in thei
own interests or permitting thei
personal friends to do 20. In tn
Maury National this caunot tax
place, because, under the law, th
largest loan they can make to an,
one person or firm is $4,000.
THIS bank has always been man
aged on strictly safe and cOnserva
tive basis, and when the suspension
of the Second National Bank or
Cured, it so far enjoyed the conf
/ dence Of the public, that not singl
Y expression of lack OF confidence ha
been heard. Nevertheless, as an evi
dence of their own faith in the man
agement and confidence in the SC
/. lidity OF the bank, the director
posted the following notice:
TO THE PUBLIC!
y We, the undersigned stakeholder
and Directors OF the Maury Nations
Bank, of Columbia, Tennessee, d
, hereby guarantee and bind Oul
q selves, aud pledge our individua
estates, for the payment of all ex
+, listing obligations Of said Bank, in
Guiding the amount due depositOrs
, and ali other debts.
: j. w. Howard, A. B. Harlan, Z.
. Armstrong, E. w. Gamble, G.
; Hughes, James Andrews, W. W
Joyce, j. w. S. Ridley, + H. Hatch
! ar w NJ EhaaiTs TOvd Cpoil I