Richmond dispatch. [volume] (Richmond, Va.) 1884-1903, 1899-01-01
SOLID AS GIBRALTAR.
RICHMOND BANKS BUILT ON FIRM
FINANCIAL FOUNDATIONS.
THEY ENJOY PUBLIC CONFIDENCE.
At No Time in Their History Have
These Institutions Been Stronger
A Banking Record Unequaticd by
Any other Southern City.

Any other Southern City.
Richmond is noted far and wide for the
great financial strength Of her banks
national. State. and savings. No city in
the country has banks built on firmer
financial foundations than has Richmond.
To-day the clty's banks are stronger
than they ever were before in the his
tory OF the capital of the Old Dominion.
To-day they are contributing more than
ever before to the city's welfare, and
never heretofore was their scope Of use
fulness so large.
Perhaps it is not generally known. but
it is nevertheless a fact, that the record
Of Richmond's banks has never been
equa,ed by those OF any other southern
city. No matter how trying the times,
from a monetary point OF view. no visible
effect has been noticed with regard 10 the
local banking Institutions and, as a mat
ter Of fact. they have never been notice
ably impaired by periods Of depression.
When banks In other cities have t0ttered
and fallen from the blow Of hard times,
the banks here have gone on meeting
every obligation without apparent incon-
venience.
This speaks volumes OF praise IOr the
conservative management Of kichmonds
financial institutions. Each of the banks
and trust companies is differed by skllful
Gnanciers. men who need acknowledge no
peers in the banking world.
Twice year the banks of Richmond dis
tribute a vast amount OF money in Rich
mond. This comes in the way Of divi-
dends. and much Of It is spent here. In
consequence the banks are the means Of
substantially helping every branch OF
business.
II is gratifying TO notice that banking
business adjacent to Richmond, which
really belongs here. and which has found
its way % northern cities Is gradually
coming 10 Richmond. IL those persons
who patronize distant banks would stop.
pause, and consider Richmonds excep-
tional banking facilities. together with
the stability Of her institutions, all this
business would DE transferred TO the city
in which it rishuy belongs.
The local banks always have plenty of
money 10 lend.
The First National Ponk has capital
Of 100000, surplus of 10000; undivided
profits of SS9.--31S. deposits Of 81 1883, Pm;
bank balances of $7492594; circulating
notes Of SIS lc0, making a total Of $,}il,-
673.06. Cash iI vault, 1923, 1919; reserve
agencies, yz55, 9l7 70; otLrc banks and bank
ers. $3.50 ,02O.71; premiums on deposit $52,-
9S1. %; United States bonds, s6l2 coo; other
bonds and claims $l3,SM.70; bank
ing-house and other real estate,
S5LS7L53: loans and discounts, $780,
SIC %. making in all $}Su. los. The officers
are Virginius Newton, president; John b.
Purcell vice-president; Henry c. Burnett,
cashier; Virginus Newton j. b. Purcell,
f. Sitterding. r. NJ Rutherford j. a.
Norris. /. Stern. j. b. MOsby, G. Daven-
port. ID. O. Davis, and c. y. Davenport,
directors.
PLANTERS NATIONAL BANK.
The Planters National Bank has a CAPT
tai OF $30Oo0, a surplus Of Sl10,e0, undi-
ylded profits Of $4,000, and individual de-
poslts Of 100000. 1t began business in
1865. It has the largest surplus in proper
ton TO population to capital Of any ma
tlnal bank in Virginia, and ranks thirty
third out OF 1900 national banks in the
United States. does a large and sue
cessfrl business, as - evidenced by its
very remarkable growth in Ich short
nerod. Since its organization there has
been paid in dividends $4,000, besides
creating a surplus fund Of 100000 making
a total earning Of $4,000 on a capital
Of 100000
MERCHANTS NATIONAL BANK.
The Merchants National Bank has a
capital Of 10000. while the surplus and
undivided profits amount TO $2Sj,0O). 1t -
q United States, city of Richmond and
Commonwealth Of Virginia depository.
Being the largest depository for banks
between Baltimore and New Orleans, this
bank offers facilities Tor direct and quick
collections, and a speciality is made Of
collections IN both Virginia and West
virginia. That this bank has grown in
strength and usefulness during last year
the statement prepared at the close OF
business on December list shows. Then
the bank had resources Of 1922, 30999
against $2,74g.9lS.S5 At the close Of 1897
John p. Branch is the president Of the
bank; Fred. Il. Scott, vice-president, and
joan +. Glenn, cashier. The directors
are Messrs. Fred. W. Scott, Andrew PlZ-
zlni Jr., and r. c. Morton.
NATIONAL BANK or VIRGINIA.
The Oldest bank I'm Richmond is the
National Bank of Virginia, which was
chartered in 1865 1t has a capital Of
10000. a surplus of $G)t0J, and undivided
profits Of $1,000. The officers are: Judge
George l.. Christian, president; f. +.
Noting. vlce-president; j. W. Lockwood,
cashier; O. s. Morton, assistant cashier
The directors are: George l. Christian,
James y. Boyd, +. Il. Noting, George r.
Cannon. r. =. Alsop, +. \. Williams, II.
$. Bosher, s. II. Halves, L. \. Cary, H.
~ EUvson and L. Raab.
STATE BANK OF VIRGINIA.
The State Bank Of Virginia, ever since
II was chartered, has been growing in
strength II has a capital OF 100000, and
a surplus Of $40 Ol0. The officers are
John 5 Elicit. president; and William NJ.
Hin. cashier. The directors are AleXau-
der Cameron, Granville G. Valentine, J.
NJ. Fourqurcan, John S. Elicit, John d.
Crump. T. G. Williams, Jr., John r. VIII
liams. and j. l.. Antrim. This bank en-
lows the fullest confidence Of our citizens,
and has a large line OF depOstOrs that is
constantly growing. It's officers and d.
rec,ors are conservative men OF acknOw-
ledge financial ability who put forth their
utmost efforts in behalf OF both stock
holders and depos.tors.
CITY BANK OF RICHMOND.
With capital Of $4,000 and a surplus
OF 100000 the City Bank Of Richmond
offers its services 20 the citlz'ns OF
Richmond This institution was chartered
in 1870 William NJ. Palmer is president;
p. d. Addison yice-president, and J. W.
Sinton. cashier. The directors are Will
liam H. Palmer. S. II. Halves. William