Virginia citizen. (Irvington, Va.) 1891-1921, 1902-02-14
TO THE STOCKHOLDERS
OF THE L.. T.. MUMFORD
BANKING COMPANY,
KlLMARNOCK, VA.

GENTLEMEN.
As you are entitled to n statement
showing the result of our Directors, and
on their behalf report the following
kilmarnock was the first of our banks
to open it's doors on the Western Shore
and on May 10th the grand openino
and dinner took place, which the liberal
citizens of the town invited everybody 10
attend, and partake of their hospitality,
both hotels were taxed to their utter.
most capacity and the writer thinking
the fund provided for the occasion made,
quate, offered TO supplement the same,
but the prompt response came eve have
raised more money for this purpose than
we can use" therefore nv offer was.
with thanks, declined and the entire ex'
pense oil the dinner, speakers, decorations.
etc, was borne by the generous people of
the said town.
We began the business in the Eubank
building, our offices then unfurnished.
After about one year we were able to
move in our new home, and from that
time to the present we have occupied the
banking house with furniture and fixtures
ana general conveniences second to none
on the Shore.
We started with the Boston Patent
System OF books, which in all probability
will be continued indefinitely. for II seems
TO be the most perfect and modern i'm ex-
istence. Our first days business closed
with only nine accounts. This WINS
twenty-one months ago. Today orr
books contain 300. The first day of our
work the Jun total of deposits was
"a ,ooO.2I. 1t is gratifying to report
that we hsve since been able to show
s2,219.59 to the credit of depositors
representing the high-water mark reached
during the twenty-one months business
During last May we paid the stockhold-
ers a Dividend of per cent. per annum
The taxes we're paid by the bank. and ali
stockholdes received the said sum on
their investment, and a like amount was
placed to the surplus account.
From tie beginning to the present
there mas necn no discord, no friction, no
unpieasantdifference among the officials
oil the bank; on the contrary, so far as
my knowledge goes, each has We'd with the
other in TRYING to build up and strengthen
the institution in the confidence OF the
peopleto whom we look, and upon whom
we dependfor success. 1t NAV be said 10
the credit,of the Board that during the
existence of the bank paper has been dis
counted tc the extent OF $500, 0CO. 90. and
no loss whatever has been sustained
inns careful attention to stockholders
interest speaks well, and it is to behoped
tnat IN tbs respect our successors will be
able to sustain, in future, this past good
record. IN this connection nv report
would beincomplete were to fail to COM
mend ths work of the Cashiers. These
officials have discharged their full duty.
and havemade manifest their entire COM
potency. l do not believe there is a bank
IN the Shte that can claim for it's en-
ployes more faithful, more willing, more
sell sacrificing service. than can be Justly
claimed BY this bank.
The following isthe summary of the re-
SUITS oil ouriabors asshown by the books
audited today by
r. s. ALwoRTn.
r. V, NOTTINGHAM,
W. /. KING.
Statement showing the condition of
The l.. T. Mumford Banking Company
OF Kilmarnock, Va, at the close of bust
ness on the Bird day of February, 1902:
RESOURCES.
Notes discounted, ss3e47 a
Overdrafts, h2S "a
banking House. Furniture and Fixt., 4.506.i ii
Due from Banks and Bankers, Az 20
current Expenses. i2s3. 80
que from Reserve Agents, 1886 ~
Cash on hand, 6642 s5
500 1915
LIABILITIES.
Individual. Deposits. xs6?5 AZ
Due to Banks and Bankers, s15ySs
Cashiers Checks. zsSy2
Sertined Checks, 431.JS
discount. Interest aud Exchange. 4,53e.55
$I0O.727.s5
The able and conservative manage
ment of j. b. Cralle, w. a. Eubank,
A. +. Tull, s. ii. Coulbourne, DIR. +. w.
Lewis, w. +. Currell, II. J. Downing, L.
ID. Stoneham, VIM. q. Beane, DR.. B. III.
B. Hubbard accounts for the healtbfuI
the statement attests.
l.. K MUMFORD, Pres.