The semi-weekly messenger. [volume] (Wilmington, N.C.) 1897-1908, 1901-05-31
THE BANK CONSOLIDATION
THE ATLANTIC NATIONAL AND THE
NATIONAL BANK OF WILMINGTON
The Stockholders OF Both Banks Met
Yesterday and Legally Ratified the
Consolidation-The Atlantic Bank by
b Union Now Has Deposits of
s1,8OO,OOO.

The Messenger a mont or more
since contained the full particulars of
the consolidation of the Atlantic Ma
tionaI bank and the National bank of
Wilmington.
In order to comply with the national
banking laws the stockholders of
both banks met yesterday and formal
~ ratified the consolidation that had
really gone into effect a month ago.
Both meetings were held in the banking
house of the Atlantic national bank.
The stockholders of the National bank
OF Wilmington met at II a. m. Mr.. John
s Armstrong, the president presided,
and Mr.. w. E. Worth acted as secre-
tary. There was a large majority of
the stock represented.
The terms OF h consolidation OF
the two banks were ratified and legal
steps were taken to liquidate and wind
up the affairs Of the bank, as the con-
solidation means that ii was absorbed
by the Atlantic National and goes out
OF existence.
After being in session twenty min
utes the stockholders adjourned for
ever.
THE NAl1OINAL-
At 11:2O a. m, the stockholders Of the
Atlantic National bank also met.
Mr.. John r. Morris, of Goldsboro,
was CALLED to the chair and Mr.. w. E.
Worth vas made secretary.
Messrs. c. w. Yates and d. L. Gore
were appointed a committee to ascer-
tain the amount of stock represented.
They reported $50 shares of 1850 repre-
scented in person-about two thirds of
the stock.
The terms of the consolidation were
formally agreed to, and accordingly it
was unanimously agreed to increase the
board of directors from IL to 19, taking
in eight of the stockholders of the other
hank but who have become stock
holders of this bank, The following
eight directors were then elected TO
serve till the next annual meeting In
January: Messrs. John S. Armstrong,
William Calder, James H. ~hadDourn
Jr.. c.. w. Yates, ]. G. L. Gieschen, w.
% Worth. Junius Davis and Gabriel
Holmes. The other directors are
Messrs, ]. w. Norwood, G.. A. Norwood,
p. L.. Bridgers, D. L. Gore, 5. T. Nc
Nair, II. B. Short. w. E. Springer, II.
i. Vollers, c. w. Worth, George r.
French and ]. L. Coker.
After the stockholders adjourned,
the board of directors held a meeting.
In accordance with the terms Of the
consolidation Mr.. D. L. Gore, vice
president of the Atlantic National
bank, resigned and Mr.. John 5. Arm
strong was elected vice president in
his stead.
The directors expressed their high ap-
probation of Mr.. Cores services as vice
president and as a member OF the
board. He is still a director and will
take the same active interest In the
bank as heretofore.
The Consolidation now gives the At
lantic National bank $780, 600 in de-
posits. This makes it one of the
strongest banks in the south. 1t was
already a strong bank and has done d
large business in North Carolina, South
Carolina and Georgia. Probably no
one bank in the south has been such q
ready helper to the cotton milling In
dustries. as many factories in the three
states nave made loans here 10 Tue
them over tight times.
The employees who remain IN the
bank are as follows:
Cashier.-Andrew Moreland.
Assistant Ca~shier.-JOseph w. Yates.
Assistant Cashier.-F. j. Haywood.
Teller.-W. P. Price.
General Bookkeepers.-J. l. wyatt,
H. NJ. Crosswell, ]. F. Smith, W. c.
Armstrong.
Individual Bookkeepers.-W. A. Will
son, Jr.. w. L. Williams, Palmer Roson-
mond, inc. d. Bellamy, Jr. 3rd.
Collection Department.-W- +. Allen,
b. p. Harrison, Afva Ward, Fred
Banck.