The daily morning journal and courier., 1902-07-08
NEW BAVEnER'S RAPID RISE
OLIVER E. BARKER'S FINE PO-
 SITION.

Accepts Vice Presidency of Big Bank in Chicago-For Years Past One of the Leading Banking Men of the Southern states-Loving Cup Pre- sented Him.
 The Birmingham News, of Birming- ham, Ala, has the following regarding New Haven boy who has large cir cle of warm friends here-his birthplace and home of his youth.
 At meeting of the board of direc- tors of the First National bank held this morning, N. E. Barker ten dered his resignation as president of the bank, and announced his accept ance of the presidency of the Con- tinental National bank of Chicago. This bank has capital and surplus of 100000 and deposits of s4O,00O,0OO, and ranks as the twelfth largest na- tional bank in the United States. Mir. Barker announced to the board that on account of the inducements that had been offered him, he felt in justice to himself obliged to accept the offer of the Chicago bank, but that he would retain his stock in the First Ma tional bank of Birmingham and would remain a member of the board of direc- tors. The board reluctantly accepted his resignation and changes in the banks official staff were made as a re- suit of MT. Barker's resignation. While MT. Barker's acceptance of his new position necessitates his removal from Birmingham, he will maintain a lively interest in the affairs of this dis trict, and will be frequent visitor here.
 The Armour interests are prominently identified with the Continental bank of Chicago, and as result of MT. Bar kers move MT. G. Ogden Armour, pres ident, and MT. P. A. Valentine, vice president of Armour & Co.,, become in- terested in the First National bank of Birmingham, and other prominent in- terests have also arranged to become identified with the bank. It is quite probable that material increase will be made in the capitalization of the First National bank, the administrative | policy of which will remain unchanged. NEW BANK BUILDING. The First National banks relations with the Continental National of Chi cago will be exceedingly close, and the l bank will continue more than ever to be a. leading factor in the southern finan- | cial field. Arrangements have been partially completed for the erection of a large flre-proof office building, which will put the bank in possession of the finest banking quarters in the south. l MT. Barker has national reputation as a bank manager and this reputation has, been largely acquired by his re- markedly successful administration of | the First National bank of Birming- ham. It is high honor to the bank as well as deserved compliment to MT. Barker, that one of the largest banks in | the United States should draw upon it for high official.
 | LOVING CUP PRESENTED. ;. The board of directors in accepting MT, Parker's resignation passed strong resolutions of appreciation and affec- ton for him and presented him with a I beautiful silver loving cup in token of their high regard. The presentatien was made by Mfr. William A. Walker in a beautiful and touching speech, which moved every member of the board to l tears.
 | The inscription upon the loving cup | Git weighs over one hundred ounces and was furnished by Bromberg, the jewed- er) is;
 Presented to l NELSON E. BARKER
 by the
 Stockholders and Directors of the
 First National Bank
 of Birmingham. Ala.
 As a mark of their personal esteem and as a token of their appreciation of his eminent services as president of the Bank.
 Oct. ', 1893, June 2S 1902"
 SOME PERSONAL DATA.
 MT. Barker is just forty-five years of age, having been born in New Haven Conn.,. in 1857. He began his business career with the Security Insurance com, pany, of New Haven, and soon after. wards came south as the southern loan agent for the Travellers Insurance com pany. He established the Chattanooga Savings bank in 1889, which has been 2 great success, having now about a mil lion and a half of savings deposits. He became president of the First Nationa bank October 2, 1893, when 1t had abou half a million of deposits, and leaves i with about four millions of deposits tt accept the presidency of a banl with forty millions of deposits. His works speak his fame"