The morning news. [volume] (Savannah, Ga.) 1887-1900, 1896-09-05

The Citizens Bank of Savannah moved
year ago. Within less than nine years
of existence as a banking institution it
has built up a capital of $500, 900 and ex-
changed its former humble quarters for
as handsome, well ordered and substan-
tial a modern structure as will be found
in any southern city. 1t has few parallels
among examples of rapid but true and
solid progress
1t was incorporated as The Citizens
Bank of Savannah in September 1887
Into It was merged the Citizens Mutual
Loan Company, which was incorporated
in 1873 With a capital stock of $173 900,
and whose members began to accumulate
a capital by nominal payments every
week. 1t operated as a loan company
until The Citizens Bank of Savannah was
granted a charter by the state, which
charter provided for the merger of the
loan company into the bank.
The bank began business Jan. 1, 1888,
with a capital stock of $20000O it's autho-
Tized capital under the charter being $780,
600. In 1890 1t was reorganized, the reor-
ganiZation consisting in the continuation
of its business on a larger scale, and
the election OF new officers. In August,
1890, 1t was decided to increase the capital
the charter, and 1t began business with
a capital of $4,000 shortly thereafter.
The officers elected at the reorganiza-
ton were President B. A Denmark
Vice President w. b. StillweIl and Cash
Ter George c. Freeman. Mr.. Freeman,
who had been connected with the Citizens
Mutual Loan Company since its organi-
cation, was the only one of the old Of
ficers retained after the bank was reor-
ganized. In June, 1891, Mr.. Stillwell re-
signed the vice presidency. and Mr.. Mills
B. Lane who had had at that time ten
years experience In banking at Valdosta,
Ca, was elected to that office, the duties
of which he assumed July l, 1891.
The present board of directors is, with
very few exceptions, the same as that
elected at the reorganization. 1t is dis
tinctively a business board and Is com
posed OF men, every one of whom has
been unusually successful in the partic-
ular business to which he has devoted his
attention. The directors and their bust
ness connections are as follows;
Mr.. B. A. Denmark, president of the
Citizens Bank of Savannah, is the senior
member of the firm Of Denmark, Adams
& Freeman, attorneys at law, who are
the banks attorneys, and coun-
sci in Georgia for the Flor
ida Central and Peninsular Railroad
Company. Mr.. Denmark is president of
the Savannah Construction Company. and
has been prominently Identified with the
progressive movements in the growth of
Savannah.
Mr.. Mills B. Lane, vice president, who
assumed the duties Of that Office July /,
1891, has the active charge and direction
of the business Of the bank He has no
outside duties. and his entire time and at
tention are given to this work.
Mr.. William Rogers Is a well known re-
tired capitalist, who has been prominently
connected with the bank for a number
of years
the firm Of Peacock & Hunt
Naval Stores Company, the larg-
est naval stores factors in Savannah,
in connection with which they also have
a wholesale grocery business of some con-
siderable proportions.
Col. J. II. Estill is the president and pro-
prietor Of the Savannah Morning News.
Mr.. Henry D. Stevens is a member OF
the firm Of Butler & Stevens, prominent
and successful cotton factors of Savan-
nah They do the largest business in sea
island cotton of any firm OF factors In the
United States.
Mr.. Andrew Hanley conducts the largest
business in paints. oils and builders ma
terials in Savannah He Is also the pro-
prietor and owner Of the famous Suwanee
Springs In Florida, and the hotel at that
resort.
Mr.. John r. Young Is member of the
firm of Ellis Young y Co, large naval
stores factors and wholesale grocers. Mr..
Young is also president OF the Atlantic
Short Line Railroad Co., which at one
time contemplated the extension of a line
from Macon to Savannah.
Mr. Edward +. Lowell is a member of
the firm Of Edward Lovelrs Sons, one OF
the Oldest ana most substa hardware
firms Of the state
Mr.. 7. II. Mcmillan. Of the firm Of Nc
MILAN Bros, copper manufacturers, rep
resents one of Savannah's most important
industries, supplying especially, as II does,