Richmond dispatch. [volume] (Richmond, Va.) 1884-1903, 1899-09-03

rel and Mr.. s. q. Wallace, through whose
efforts a reorganization was effected, was
made cashier. From that time on the
bank was known as the Citizens, ana
at the death Of Mr.. Johnston Mr.. wallace
succeeded to the presidency, his brother,
Mr.. John Wallace, becoming cashier.
on January 18th of last year the BANK
was entirely recognized, with Mr. W. NJ
Habliston rs its president. the name
was changed 20 the Citizens Exchange
Bank and 100000 Of new capital was
placed I'm it, Since that time the insti-
tuition has been unusually successful and
It Is recognized as one Of the most SUD
stantial deDositories i'm the city. Mr.. Wal
lace continued ass cashier for a time
hut on Au &c 1st of last year Mr.. T. x.
Sands. for many years boOk-keeper IN
the First National, was made cashier,
and he has conducted the affairs OF the
Iauk with such skill that ne IS spoken OF
as cashier of the consolidated bank. At
the time the Citizens Bank was merged
/ into the Citizens Exchange the deposits
amounted TO $3.50 40. while the loans were
something I'm extess of $4,000. When the
last statement was drawn from the DOCKS
last month the deposits were shown to be
S6s5OiS. with loans aggregatlng $jG,69.
THE PLANS AND OFFICERS.
Under the consolidation, if the plans,
as now mapped out are carried out, Judge
Christian will continue as president with
Mr. W. VI. HablistOn as yice-president
, and executive officer. Mr.. Sands will be
made cashier and the clerical forces of
the two banks will be picked over for the
best men. The directors of both banks
will continue.
Judge George L. Christian, who will
be the president. is one Of the ablest and
best known lawyers at the Richmond Bar.
lie Is an authority on finance and has
made a most successful banking officer.
Mr.. ". NJ. Habist0n, who is to be vice.
president, has long been identified with
the banking interests OF Virginia, and IS
one or the most progressive young men
i'm the State. He is vice-president Of the
National Bank, Of Petersburg, and was,
until recently. vice-presdent and general
manager Of the Richmond Traction Conn
pany. When he accepted the presidency
of the Citizens Exchange Bank he re-
linquished his connection with the street
railway company and his attention has
been given almost exclusively to his bank
ing business.
THE NEW BANK.
The new bank soon 70 be opened fol
business here will start out with a CAPT
! tai of 500 O00 and will commence bust
ness under the most flattering auspices
| It's president and executive officer vii
be Mr.. Oliver j. Sands, Of FairmOnt W
( Va, who now holds the responsible posi-
) ton OF National Bank Examiner for Fir
! ginia and the District of Columbia. H'
| comes OF lcng line of ancestry. all OF
whom are bankers, and is thoroughly
/ posted OH financial matters.
The bank was organized by Mr.. Newton
Lockwood, formerly teller of the Ma
| tonal Bank OF Virginia, and he vii
serve as teller of this bank. while his
| brother. Mr. J. W. Lockwood, Jr.. for
merly Of the National Bank Of Virginia
! is spoken of for cashier Mr. Sands +.
expected here in a few days when the
business plans of the new institution vii
be announced. The bank will be just
across the street from the pOst-Ofice.