The times. [volume] (Richmond, Va.) 1890-1903, 1899-01-01
SOLID AS GIBRALTAR.
RICHMOND BANKS DuILr ON FIRM
FINANCIAL FOUNDATIONS.
THEY ENJOY PUBLIC CoNPIDEHcG.
Al No Time in Their History Have
These 5nstitutions Been stronger
A banking Record UnequaiIed by
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 frmer
/ financial foundations than has Richmond.
To-Day the city'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 citys welfare. and
never heretofore was their scope Of use
fulness so large.
/ Perhaps 1t is not generally known. but
/ Il is nevertheless a fact. that the record
OF Richmond's banks has never been
equalled by those OF any other southern
city. No matter how trying the times,
from a monetary point Of view, 10 visible
effect has been noticed with regard to the
local banking institutions. and, as mat
ter Of fact they have never been notice
ably impaired by periods Of depression.
when banks IN other cities have tOttered
and fallen from the blow OF hard times.
the banks here have gone on meeting
every obligation without apparent incon-
yenience.
This speaks volumes OF praise fOr the
conservative management OF Rlchmond's
financial institutions. Each OF the banks
and trust companies IS differed by skilful
hnanciers. men who need acknowledge no
peers ia the banking world.
Twice a 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 IL 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 20 northern cities, IS gradually
coming TO Richmond. II those persons
who patrOnze distant banks would stop.
pause. and consider Richmonds excep-
tional banking facilities, together with
the stability OF her institutions, all this
business would be transferred to the city
in which Il rightly belongs.
The local banks always have plenty OF
money 70 lend.
FIRST NATIONAL BANK
The First National Bank has a capital
Of 100000; surplus of 100000; undivided
profits OF SS9.2237S, deposits Of N,sS9 i2.3i;
bank balances Of Sl,s269i; circulating
notes Of S2lS 100. making total of S,Sn,-
67306 Cash in vault. $523. 1913; reserve
agencies, 1856. 9l7.79. other. banks and bank
ers $3.50 0207l; premiums on deposit. 49,
98l. .; United States bonds, Sl2.0OO; other
bonds and claims Sl3,Si070; bank
ing-house and other real estate,
s5IS7I53: loans and discounts. 1852
s.6z9 making in all S331, G7305. The officers
are vlrglnius Newton. president; John b.
Purcell, vice-president; Henry G. Burnett,
cashier; Virginus Newton, j. b. Purcell,
+. Sitterding. T. NJ. rutherford, j. a.
Morris, l. Stern. J. b. Mosby, c. Dayen-
port D. .. Davis, and G.. a. Davenport,
directors.
PLANTERS NATIONAL BANK.
The Planters National Bank has a capt.
tai of $4,000. a surplus of $1,000. undi-
yided profits Of $4,000, and individual de-
posts OF 100000 III began business i'm
1865. It has the largest surplus in proper
ton 10 population to capital OF any ma
ucnal bank in Virginia and ranks thirty
third out Of 400 national banks In the
United States. 1t does a large and sue
cessful business, as is evidenced by its
very remarkable growth in such a short
period. Since its organization there has
been paid in dividends $1,000, besides
creating a surplus fund Of 10000. making
a total earning Of Sl5i9,0O0 on capital
OF 10000.
MERCHANTS NATIONAL BANK.
The Merchants National Bank has a.
capital of $4,000. while the surplus and
undivided profits amount 20 S2SJ,0O II is
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 az the close OF
business on December lst shows. Then
the bank had resources Of N,322.30999,
against S2,7i9Sls.S. at the close OF 1891
John p. Branch Is the president Of the
bank Fred. r. Scott vice-presideni, and
John +. Glenn. cashier. The directors
are Messrs. Fred. W. Scott, Andrew Piz-
zni, Jr, and r. c. Morton.
NATIONAL BANK or VIRGINIA.
The oldest bank IN Richmond is the
National Bank of Virginia, which was
chartered in 1865 1t has a capital of
10000. a surplus Of $4,000 and undivided
profits OF $1,000 The officers are. Judge
George l.. Christian, president; +. r.
Noting. ce-president; J. W. Lockwood,
cashier; o. S. Morton, assistant cashier.
The directors are: George L. Christian,
James ~ Boyd +. h. Noting. George r.
cannon. II. p Alsop. f. A. Williams, r.
S. Bosher, s. n. Halves, T. A. Cary, H.
g. Elyson, and L. Raab.
STATE BANK OF VIRGINIA.
The state Bank OF Virginia. ever since
IL was chartered, has been growing in
strength II has a capital OF 10000, and
a surplus Of $1,000. The officers are
John S. Elicit. president and William NJ
Hill cashier The directors ara Alexan-
der Cameron Granville g. Valentine, j.
NJ. Fourqurean. John $. Ellett. John d.
Crump. r. c. 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 deposltors that is
constantly growing Its officers and dl-
rectors are conservative men OF acknOw-
ledge financial ability, who put forth their
utmost efforts I'm behalf of both stock
holders and depositors.
CITY BANK OF RICHMOND.
with a capital Of 10000 and a surplus
Of 10000 the City Bank Of Richmond
offers its sery .ces 70 the citizens Of
Richmond This institution was chartered
IN 1870. William NJ Palmer is PRESIDENT
n b. Addison Yice-president, and J. W
sinton. cashier. The directors are Will
liam X. Palmer, S. II. Halves. William
Josiah Leake. y. b. Valentine. 5. w
Travers T.. b. Addison George W An
derson. James y. Boyd. A. l. Holiday.
I. j. Cardozo. E. T. d. Myers. and W. r.
Trigg.
THE SECURITY BANK.
This institution IS known as the young
mems bank OF Richmond. II IS managed
and natroafzed largely nv xnrug fuefuaa1-