The Robesonian. [volume] (Lumberton, N.C.) 1870-current, 1897-05-12

ing old friends. We are glad to
see he boys coming back and re-
joice IN the success they are ma
king.
The Bank Of Lanabe.to., Organized.
A short while since the ROBE
soNIAN noted the fact that a meet
lng Of citizens had been held for
the purpose of organizing bank,
and, while nothing definite was
decided upon at the time, We stated |
that the bank would probably be
organized ard ready for business
by tie fall. Il affords Us pleasure
to say now that the bank Is an as
sured thing. The plans were per-
fected sooner than anticipated by
the friends of the enterprise. A
meeting was held Tuesday after
noon of last week, at which the
organization was perfected, the
requisite amount Of capital was.
subscribed, officers were elected
and arrangements made TO begin
business about the first of June.
A charter for the bank was
granted by the Legislature of 1895, 4
but as no organization was eff
fected, it was renewed by the Leg
lslature of 1897. The charter is
liberal i'll its provisions, but at
the same time every possible safe
guard is provided for the protection
of depositors. The bank is au-
thorized to begin business upon a
paid up capital stock Of SIS, 900,
but this amount can be increased
at any time to 100000.
In their conferences the pro-
motors Of the bank decided that
| $15 900 capital stock-the mini
mum. amount allowed by the
charter-would be sufficient to
begin business upon, and that was
all they asked. When the meet
ing was held, however, the interest
and enthusiasm were such that
the desired amount was subscribed
for and more than $4,000 addi-
tional stock was asked for. This
was not granted, for the reason
stated above. It is very likely,
| however, that the capital stock
will be increased at an early day
After the stock was all taken al
election of directors was gone into
land the following were chosen
T. A. Mcneil, R. D. Caldwell, G
B. Townsend, S. A. Edmund, A
W. Mclean, of Lumberton R. L
Steele, w. L. F. Steele, T. G
Guthrie, of Rockingham; III. B
Jennings, of Bennettsyille, S. G
The directors elected the following
officers: 7. a. Mcneil, presi
dent; r. D. Caldwell, vice resi
dent; G. B. Townsend, cashier
; 1t is not necessary for us to sa,
anything about the officers AM
} directors of the new bank. The.
; are too well known to the.peopl
; of Lumberton and Robson count,
} to need commendation at GU
hands. Better selections coul,
not haze been made, for each O
? the gentlemen has the confdenc
Of our people.
| The bank will commence bust
I ness in the Mcleod building 9TH
room occupied by G. w. Mcqueen
I barber shop) and will as previousl
y stated, be open about June 1st
q We understand that the presen
i location will only be temporar
II and that a bank building will b
erected by Mr.. E. K. Proctor, Jr
e on the corner lot purchased frol
e Mr.. B. Stansel.
It is with DO little pleasure tbs
e the RoBEsoNIAN notes the organ
o cation of the bank. It is an il
II stitution that has long been bad
needed and will prove gre,
convenience to every business ma
al in Lumberton. And not to Lun
y. berton only, for the business me
ID Of other towns in the county al
IS many of our farmers will find
re Of great benefit to them. Y
~ haven't q doubt as to the success
in financially, of the enterprise. '
a hope it will prove more success
In full than its promoters anticipa
70. and will be credit and honor
to the town.
he It is probably not amiss to S
Mt in this connection that the N
d. enterprise has had no more zealo
he friend than Mr.. A. w. McLea
rs He has been at work upon it a
nix agitating the question for the p;
wo two years. The charter was dra7
i'll by him and his personal effo
Id were large factor in having t
nd two sessions of the Legislature ,
to upon it. But for his recent act
Of. work it is probable that the orgs
nd ization would not have been p