Martinsburg herald. [volume] (Martinsburg, W. Va.) 1881-1920, 1902-07-26
THE BANKING BUSINESS
CASHIER RUTLEDGE GIVES OUT
SOME IMPORTATION.
ZEN Years Ago There Were Only Two
Banks Dotng Business In This city
All Pay Interest ON lime
Deposits.



In conversation with Mr.. Edward
Rutledge, Cashier of the Citizens
National Bank World representative
called attention TO the great increase
in the nJmber and the pu~iuess OF the
banking institutions Of our city lie
was ~ 0rmed that up TO the wear 1882
tner, we're bus two banks here, but
in that year the Merchants a. Farmers
and the Citizens National Bank were
started of, and since then the two in
stitutlons have rolled M about S40O
900 Of deposits between them and
have earned satisfactory dividends for
their shareholders. In the same peri
cd the two old banks have increased
their business materially.
The representative was informed
that there is nothing new about the
matter of the banks paving per cent
interest on xix months time eertif
Gates of deposit. except that in the
last few DAYS it has been advertised
in the papers. The Citizens National
Bank has accommodated Its na'rons in
this wav since its organization at all
times when there was good demand
for loans. AT the present time the
bank is carving over $57,DO0 OF this
class OF deposits, and is preDared to
issue Its interest bearing certificates
in even sums of $50. $50, 500 and
even amounts upwards. There is no
better or simpler method TO save mon
ev. The bank officers viii ne Lieased
to give further information at all
times.
There are. the informant went on
to say. not over 300 bank shareholders
III the city and county. while ON the
other hand there are close to 600 de-
positors doing business with these
banks. Strange to say. the largest
amount of consideration and CONVEX
sution with respect 10 banking insti-
tutions now a DAYS is in resard 20 the
dividend rate and the Dflce of shan es
This il all very good for the 800 share
holders but not nearly so important
to the numerous depositors, of which
there are MANY, old and Young male
and female. rich and Door. What the
latter class wants to know. and know
positively, is with respect to the Sc
curity offered bv the banks FOR the
funds deposited with them for safe
keepine and the ability of the banks
to paw out this monev on demand.
There is over million Of dollars in
the banks OF this city. every dollar Is,
which is PAYABLE ON demand 10 depos
itors The Citizens National Bank
makes an excentional showing as to
the ample sec0rity it IS able to offer
TO it's deposItors. Attention is direct
ed to the report to the comptroller of
the Currency printed blow. The to-
tai resources of the hank. including
shareholders liabilities. amounts to
the sum of 1891. SOP 80. The deposits
are $l57, 5I3 93 A simple calculation
will develop the fact that for every |
dollar due depusltors the bank has
neatiy two and one huit dollars of Sc
curitv to protect it, The spot cash |
assets are $41. 600 in Go0nd figures. |
For the wear ending June 30th. last !
the press earnings exceeded Sl3, 000, |
am after paving all expenses there
was left for the shareholders IS. 500 53 |
or close 80 . uor cent. IS. COO of this |
amount was maid out in dividends and |
the balance nlAced 10 the credit ct |
Surplus and Undivided ptotits
Thr officers aud directors are from
among our most able aunt rouserga-