The news & observer. [volume] (Raleigh, N.C.) 1894-current, 1899-08-24
A Success That Has no Par
aIIeI in the State Or
ganized in 1892--Its
Advancement
Has Been
Rapid.

Some wise man has said that COM
munity is known by its banks If that
statement be true, linen Wilmington IS
fortunate in having within It's cohnhes
so admirable an institution as the Attain
tie National Bank. 1t was organized
April %. 81 and has been built mp by
business acumen and ability untl II de-
serves to rank with the leading financial
institutions of the South. When the VII
Ter asked President Norwood Tor
some details of interest regarding the
bank, he replied: why, there is -llhtle
or nothing to be said. The bank mas had
sucb placid and umeventful history
since its organization that there IS Moth
ing TO say about it" 1t is the bank with
the Blacid and unevenItfHl history that
appeals to the careful deposftor. Wo
words will tell the secret of TINS 1nstltu-
tons success. They are vigilance and
caution-yigilance i'll making loans ana
discounts: caution iii incurrng expense.
Add to this. conservative llberallty III
dealing with customers and the pubic
generally. and you have the history q
the bank. Shrewd business men do not
take long to discover that Il bank con-
Quoted on such principles IS exception
ally strong. The net profit 10 stockhold-
ers for the year 1898 was Sl9,6II.03, or
15.S2 per cent. The value of such an
institution to a city is hard to estimate
Having the absolute confidence OF the
public. it gives dignity and strength to
all concerns or parties with whom 1t
has business transacted
It's support means success TO any legi-
innate enterprise and its beneficent in
n. 1. fal4 "a, fba limits
which the bulk of its business is CON
Quoted. No wonder Mr.. Norwood is con
tent to say that the Atlantic National
has had placid, uneventful history. He
couldn't have said anything more COM
nlimentarv Of the bank il he had search
ed the dictionary for expressive adjec-
tiyes with which to sound its praise.
Mr.. Norwood has good cause to feel
proud that he has chiseled out the for
tunes Of Il bank that has had such a
nlacid career. The bank since its i'm
eeption has always been allied with the
progress and prosperity of Wilmington.
and its policy has always been to pro
mote. as far as consistent with its own
and its patrons safety, the general well
being and rapid advancement Of the va
Iious Industries Of Wilmington. Its vol
ume of business has more than kept pace
with the onward march of trade in this
section of the State. Managed as it is
on calm, conservative business primer
pies. it has relations common between
q bank and the commercial men of the
community. fully meriting tine complete
confidence Of mercantile and profession
al circles The bank is admirably located
Mt No is Princess street. 1t owns the
handsome brick building in which it is
housed. The interior of the bank is SUI
perbly equipped with banking furniture
and paraphanalia. but the main feature
however of the interior is the absolute
fire and burglar proof vault, the finest
the strongest and the most complete III
Eastern North Carolina The vault rests
upon Il foundation of concrete while the
walls. which are four feet thick, and the
ceiling consist of brick cement and al
ternate rods of iron and chilled steel
which renders it impervious 10 all boring
implements. The interior Of the vault
is furnished with the latest improved
safes and a number or safety deposit
boxes, which are rented at a reasonable
rate. Thus it may readily be seen that
the Atlantic National Bank Is as abso-
lutely safe against the elements Of fire
and burglary as human ingenuity can
make it.
The bank transacts a very large legiti-
mate banking business, such as receiy-
ing deposits negotiating loans, buying
AMI selling exchange. The business of
the collecting department probably ex-
ceeds that Of any other bank in North
or South Carolina. Glance at the state
ment made January 1st 1899, it speaks
for itself
RESOURCES.
Loans. 1868, % .05
Oyerdrafts. 2,591.74
T. 5. Bonds lat par).. 93,600.0O
Banking house and fixtures. 100000
Due from approved reserve
agents. Zbb,ol9.oo
Due from other Banks. 80. 1S2.46601
Cash on hand :. :. :. !. 131, 1916
Total. Sl,352, G26.97
LIABILITIES.
Capital. IS 125,00000
Surplus and undivided
profits :. 100000
Circulation 40,9o000
Deposits Of e. 5. Treas
urer. 100000
Deposits from other banks. 230,000.00
Deposits from individuals. 100000 90
Total. :. :. !. 81 ,352. 62697
Then glance at the directors and Off