Fort Worth gazette. [volume] (Fort Worth, Tex.) 1891-1898, 1894-05-19


limited. held at the onlcea. 30 Bishops.
gate street Within, London. L. G.. on
the I'd. Mr., C II. snlImnn. OF Fort
Woclh the president. made speech
giving an account OF the affairs OF the
bank and paid many fine compliments
to Fort Worth,
The speech was printed in the Fl
through the courtesy OF j. G. Mccarthy
Esq. president of the city National
bank.
Mr.. siiii,nnn's speech.
Gentlemen. II Is with great personal
satisfaction that am able to be with
you ms shareholder and as your agent
In Texas at the eighth annual general
meeting OF the Land Mortgage bank OF
Texas. / have been so closely occupied
with the AFFAIRS Of the bank In Ameri-
ca that have heretofore found it
quite impossible 10 leave the business
long enough TO make you a visit. Since
/ was In England seven years ago
however. I am very glad TO say that
we have been favored with three sepa-
rate visits from our directorate which
have enabled me TO explain more In de-
tall the practical methods used In ne
yotlnting our loans, and at the same
time II has afforded them an oppor-
tunity OF carefully examining into the
value and the dcsirabllity Of our Sc
ourities am not disposed 10 weary
you by repeating the figures shown IN
your balance sheet aud statement OF
accounts. but / think can give you
rome Information IN general way as
TO the practical conduct or the affairs
VI the bank In Texas that will be OF
Interest TO you as shareholders. ! am
sure review OF the reports for the
past eight years viii furnish ample
evidence Of ihe rapid development and
soundnoss OF the business. We have,
however. just passed through great a.
nanclal disturbances and the invest
ment OF new capital has therefore
been much curtalled. am very glad
10 be able TO say that since the call
was made on us last autumn we have
Since romitted over 100000 TO the
London ofilce, every penny OF which
was realized from the ordinary col
lection OF maturing MORTGAGES. ZAP.
olnuse1
During tho year found that bust
nrsa wns outgrqwins itH old quarters
a Fort Worth and on the first day OF
December last our Offices were removed
10 the Board OF Trade building. witch
are only one block from the business
,entcr. Here we have an office stan
ot ninc men, three lingllshmcn two
ocing Yorltshlremen. and mont Of whom
nave been with us Cor years and are
thoroughly familiar with all the de-
tails OF the business. AZ least four
aave the training. experience. and
Judgment which enables them 10 20
light on with the business. whether
I'm present or not Reports Just re-
'eived show the settlement In full OF
ten loans, and the collection NJ over
$4,000 principal and interest. during
HE nrst two weoia OF my absenoe.
We have now -four commodlous offices
md two flropronf vaults 10 arcommo-
iate tho constantly accommodating
Books and documents used IN conduc.
ms the affairs OF the bank Tho fol-
owing figures, In round numbers. viii
rivcf - mn IDEA Of the contents OF
.hsse vaults We have negotiated
,bout $500 loans, and Tor each one we
make Me containing the appllcu-
Ion Inspectors, attorneys, and agents
reports. abstract OF title, Insurance
policy, bond or mortgage note. deed
Of trust or mortgage. and All letters
aud vouchers received pertaining to
the loan. The original papers, OF
sourse. come 10 the London office and
are lodged with our bankers, but fun
sopies are kept on nle In our Texas
vauits, SO that In epae Of loss through
the malta there would be no trouble ia
proving our clnims, thus making our
record complete We have 80 letter
books with an average Of 1900 com,
munioa,ionH copied In each. making a
total OF 10000 letter. or 30 for every
loan negotiated Then We have oar
loan and Insurance registers, indexes,
Journals. ledgcrs collection hooks. etc,
3 all Of which would make largo dray
oaN- ONfl pVN OF htat mortgages
nave already been paid on IN fun. but
We keep all the old fles and CORES.
pondenoe aa we find thom useful in
negotiating new loans IA the same
nelghborhood. might state here that
" handling ali this vast corrcHpon-
aenee not a single valuable paper has
been lost or mislnid.
The Value OF Farming Lands Main.
tanned.
am very Glad 10 report that In the
central agricultural regions OF Texas
where we have the bulk OF our neeuri.
ties. Notwithstanding the depression IL
nearly all kinds OF personal property,
there has been no falling on In tn,
value OF farming lands. and as q mat.
ter OF fact black lands In such counus.
az Ellis, Ill., Johnson, Collin, Qrayson
Hunt. Bell and Williams, have not only
held their own. but in many loealitia.
have actually changed hands at from
10 70 20 per cent over the prices realized
one and two years aKo. This thlnl
should be a convincing proof to oui
shareholders that their money In In
Vspted In die best possible securities. A
small portion Of our funds ia loanet
upon city property ana I md this AZ
excellent form Of security when ma
rnpoad t,t.n,, r..t.nit.. 49,. L.. .