davidaulloa/AmericanStories huggingface dataset:
The news & observer. [volume] (Raleigh, N.C.) 1894-current, 1903-06-28
Banks Sanford Monroe mO WadcSbO Concord and RuedOn
Bank Of Union
Monroe's Newest B a n k
Doing Finely.

The Bank of Union at Monroe was
ivember, 1902, with a capital stock OF
twenty-five thousand dollars ($25, 000)
The recent statement shows that it has
deposits of $95, 1888, and capital stock of
$25, OOO and undivided profits $541.14.
This statement for So young a bank shows
the hold it has upon the business commu-
nifty. 1t entered the banking world under
favorable auspices. Although newly es-
tablished its facilities for handling COM
of business already handled is not only
matter of congratulation to its dlrec-
tors and officers, but an indication of
steady expansion In the future. This
bank operates the home savings bank
feature as an adjunct and has safety de-
post boxes for rent. It's directors are
and are as follows: A. M. Stack, lawyer,
OF the firm of Redwine and Stack; j. r.
Shute, merchant and capitalist; T.. c..
Collins merchant; T. J. Shannon, whole
sale and retail merchant; r. Redfearn,
hardware merchant; w. S. Blackley, ]. e.
Stack. commission merchants; f. G. Win
chester, cotton buyer. and w. e. Cason,
Scaboard Air Line agent.
It's officers are men of large success
and business experience and enjoy to
the fullest extent the confidence of the
business community, and are as follows:
w. S. Blakeney, president; A. M. Stack,
vice president; ]. Raymond Shute, cashier;
W. C. Wolfe, assistant cashier.
No town in the State has had more solid
and substantial and steady growth in the
past ten years than Monroe. 1t has taken on
new life and massive new building houses
and factories are seen on every hand.
What has been done is but an earnest OF
the future progress of the city and IN
the steady growth the Bank OF Union Is
an important and valued factor. 1t has
already been felt in the new life of the
town and is doing its full share in the
great business revival that is making
North Carolina
Union county has made steady prog
ress-remarkable progress-in every way
within the past ten years, progress so
marked as to have astonished even the
citizens themselves, whose well-directed
industry has brought about this pros
perity.
1t is said that no county in North Caro-
lima has improved so much within ten
years as Union county and one who
visits Monroe or travels through the rural
districts may well believe it, for there are
evidences of thrift and prosperity to be
seen on every hand in every section of
the county 1t was in Union county that
the first local tax for a rural district
school was voted, and no county IN the
State has better country schools.
The news & observer. [volume] (Raleigh, N.C.) 1894-current, 1903-06-28
COnCOrdNat. Bank
A Leading Factor in Con-
cords Wonderful
Growth.

Prior to 1888 there was no bank IN Con
cord. The banking business being con-
Quoted then through cotton and commits
sion merchants Then cotton furnished
all the exchange necessary for the mer-
chants. Extra money required was ex-
pressed to the cotton buyers The busi-
ness growth OF Concord by 1888 had be-
come so great as to call for modern bank
ing facilities when the Concord National
Bank was organized by some of the most
progressive manufacturers and business
men of the town. The capital stock was
fifty thousand dollars. From the day it
opened its doors it has done prosperous,
prudent and conservative business and has
been leading factor in the wonderful
growth of Concord This town is now
easily one of the largest manufacturing
and business centres of the State.
Capt. j. NJ Odell is president of this
hank and Mr.. D. B. Coltraine is cashier.
Capt Odell's name in North Carolina
SPELLS Success in Manufacturing. There
are few men in the South whose bust
ness and manufacturing career Is as IN
spring to young men. Returning from
the war with little capital, except his
faith in North Carolina and his clear
head and willing hands, he has built up
in Concord one of the largest and most
prosperous manufacturing and cotton mill
enterprises in the South, and, in addition,
is interested in half a dozen large and
flourishing cotton mills elsewhere.
Mr.. Coltraine, the cashier of the bank,
is one of Concord's most public-spirited
end useful citizens. as well as one of the
States wsest and most successful bank
officer He has been the leader in the
public school interest of Concord and a
leading factor in the erection of a hand
some and commodious public school build
ing which is an ornament to the town.
From the start, this bank has paid a
semi-annual dividend. 1t has been sue
cessful in every particular. The capital
has never been increased and the surplus
row in the bank exceeds thirty thousand
dollars.
The news & observer. [volume] (Raleigh, N.C.) 1894-current, 1903-06-28
Cabarrus Saw
ings Bank
Two Banks, One at Con-
cord and ,One at Albe-
marie.

Cabarrus Savings Bank IS one of the
most enterprising institutions of Its
character doing business in North Caro-
lima. 1t has done much to better the
condition of the people of that progressive
city, and has established branch at Al
bemarle, the two banks doing business
under one charter.
The President is Mr.. d. F. Cannon, Vice
President Martin Boger Cashier H. j.
Woodhouse, and Tell T. W. Swink.
The directory includes the names OF
Robert S. Young, physician; L. j. Foil,
merchant; John C. Wadsworth, merchant:
John s. Efrd, secretary and treasurer
OF the Efird Manufacturing Company: j.
M. Morrow, merchant; j. w. Cannon, Of
Gibson Manufacturing Company. and sec
rotary and treasurer of the Cannon
Manufacturing Company, and T. C. In
gram, farmer.
The Bank began business January list.
1897, with capital stock of fifty thousand
dollars, when its statement of April show
ed deposits aggregating over two hundred
and sixty thousand dollars and surplus
and undivided profits of s22, 2O9 rs.
Concord has a population of about ten
thousand people, and is one of the great
est cotton mill towns in the State Large
furniture factories and industries are to
be found there.
The officers and directors of this bank
are identified with leading enterprising
business movements, an are men OF
high standing and hold the confidence OF
their entire community.
The news & observer. [volume] (Raleigh, N.C.) 1894-current, 1903-06-28
It Sets the Pace for San
ford's Remarkable
Growth.
Has Secured Location Sew
eral Important Indus
,tries-It Has Never
Lost a Dollar.

The Bank of Sanford was established
in 1896. when Sanford was town of
only about five hundred people. Each
year since that time has been marked by
a decided increase in the growth of the
banks business At the present time the
total resources amount to considerably
more than $100,00O.O0 The success of the
institution has been remarkable, it being
a fact that the bank has never sustained
any losses whatever.
Not only is the Bank of Sanford sue
cessful, but it is very enterprising as well.
and liberal likewise to its customers. In
it's care and attention to their best IN
terests it is not surpassed by any similar
institution. Every courtesy and every aid
consistent with absolute safety is extend
ed freely. All enterprises that have at
bottom the furthering of the real welfare
of Sanford may command at all times the
services of this bank in the most mate
rial way. 1t has been potent factor IN
the recent growth of the town OF Sanford.
The officers of the bank are: w. j. Ed
The news & observer. [volume] (Raleigh, N.C.) 1894-current, 1903-06-28

wards, President, and S. P. Hatch
Cashier. The authorized capital stock is
$5O,00O.0O. The bank is the depositary
for State, county and town.
Mr.. Edwards has established several
other successful banking institutions,
among them being the Bank of Maxton.
the National Bank of Fayetteville and
the Fayetteville Savings and Trust Com
pany He has also recently opened the
Jonesboro Commercial Bank, at Jones'
boro, n. C.
Mr.. Edwards is a North Carohnian,
being 4 native of Greene county. When
quite n boy be engaged in the service OF
the Seaboard Air Line Railroad as division
storekeeper. He rose repeatedly through
the various stages of the service, under
the late Maj. John C. Winder, being pro-
NOTED by him a number of times until
he was made general purchasing agent
of the entire S. A. L. system of railroads
Altogether he was in the service of the
S. A. L. for nearly fourteen years.
In 1886 he engaged in the banking
business at Sanford, establishing the Bank
of Sanford, whose success is the occasion
of this article. Mr. Edwards has been
instrumental in creating a number of en-
terprises in and around Sanford, notably
the Sanford Cotton Mills. the Sanford
waterworks, the A & w. Railroad, a
The news & observer. [volume] (Raleigh, N.C.) 1894-current, 1903-06-28
People BankOf Monroe
Safe Promoter of MOnrOe'S
Prosperity.

The Peoples Bank, of Monroe, was or
gained in 1874. and may be said to have
been the safe promoter and pioneer IN
Monroe's new industrial and commercial
life. From its first organization it has
been a safely managed concern. seeking
TO conserve and advance every interest
of the community. 1t was reorganlzed IN
1903. 1t has paid out profits to its stock
holder of 40 per cent. and increased It's
capital stock from forty-one thousand to
over fifty thousand dollars. 1t is econo-
mically and progressively managed. and
has given accommodation and assistance
TO every business and manufacturing in
terest of the town that promises to add
to Monroe's wealth and prosperity. It's
directorate is composed of Mr.. o. p.
ton mill manufacturer; Mr.. w. c. Heath,
Secretary and Treasurer of the Monroe
Cotton Mill; Mr. j. r. English, pros
porous druggist; Mr.. A. M. Crowell, a
capitalist, and Mr. R. A. Morrow, a pros
porous wholesale grocery merchant. These
five men represent Monroe's progressive
industrial citizenship, and the town has
been fortunate in that they have been at
the helm of its first and oldest financial
institution.
The President of this bank is Mr.. O. p.
Heath, who as manufacturer and business
man, has had much to do with the Won
derful progress that Monroe has made.
Mr. J. r. English is Vice President,
who has likewise been leading factor in
Monroe's wealth and growth.
Mr. Roscoe Phifer, Cashier of the Peo-
pies Bank, is trained and expert
banker, and enjoys to the fullest extent
the confidence of the business community.
His unfailing courtesy and his acknowl
edged capacity have greatly added to the
popularity and strength OF the bank.
The recent statement of this bank shows
that its deposits aggregate over one hum
bred and forty thousand dollars ($140, 000).
Monroe has not been content alone to
grow rapidly. 1t has sought to help the
whole county and has had the satisfac-
ton of seeing prosperity smile upon every
portion of the county. The farmers of
Union are thrifty and saving They are
progressive in their methods and ambi-
tious for their children AS a result there
is a good school in every portion of Union
county and a network of telephones con-
meets nearly every farmer in the county
with his county town and with his banker
and merchant.
The news & observer. [volume] (Raleigh, N.C.) 1894-current, 1903-06-28
LumbertOn Bank
Surplus and Profits
More Than Double
Its Capital.
Has Been Greatest Factor
in LumbertOn's Great
Progress in Past
Six Years.

Lumberton, the county seat of Robson
county, only sleepy village county seat
few years ago, has felt the electric touch
of the twentieth century 1t has made
more progress in the last half a dozen
years than in any previous twenty years
of its history, and has grown steadily and
along solid lines 1t is the couny seat Of
the largest county in the State, the county
of Robson which is rapidly coming to be
also one of the wealthiest agricultural
counties in the State of North Carolina,
and with its diversified agriculture and
thrifty people, Robson is rapidly coming
to have a prinacy in business, agriculture
and manufacturing commensurate with It's
size.
The greatest factor in the progress
which Lumberton has made in the last
six years has been the Bank of Lumber
ton. Since it was organized the town has
nearly doubled in wealth and population,
due to the establishment of many success
full business enterprises,k encouraged and
made possible by the Bank of Lumberton
and its enterprising management The
Bank of Lumberton was organized June
a. 1897. It's officers are A. w Mclean,
The news & observer. [volume] (Raleigh, N.C.) 1894-current, 1903-06-28
Bank Of WadeSbOrO
In One Year Undivided
Profits Equal Capital.

The Bank of Wadesboro was organized
during the past year, and began business
on capital stock OF twenty five thou
sand dollars (S2J,000.00). The deposits at
the end of six months had passed the
seyenty-five thousand dollar ($75,000.00)
mark, and today the bank has already
put aside undivided profits of about twen-
ty-fve thousand dollars ($25,000.00).
The president of the bank is Mr.. T. j.
Covington, who is known popularity
throughout Arson county. Mr. F. c.
Allen is vice president, and Mr.. A. E.
Allen is cashier, and the directory in
cludes the names of Messrs. T. ]. Coving-
ton, president f. G. Allen, general mer-
chandise; II. w. Little, of the hrm of H.
w. Little and Company, general merchan-
disc; l.. d. Robinson. solicitor and attor-
ney; II. Haney, planter; g. w. Huntley,
proprietor of the National Hotel: l.. G.
Covington, of the firm of F.. A & L. G..
Covington, hardware; X. W. Ashcraft.
general merchant; P. r. Bennett, dry
goods and clothing merchant; James A.
Lockhart, ex-Congressman and lawyer,
ano j. e. Moore, general merchant.
Morven, N. G.
The Bank of Wadesboro has been IN OPP
Grafton less than year, and 1T already
makes the claim that over fifty per
cent of the merchants of the town have
an account in that bank. The bank and
it's officers are popular with the people
generally and one feature of its business
is that it pays interest on time deposits.
Nearly all of the stock of the Bank of
Wadesboro is held now by the original
stockholders. but shortly after the bank
began business, a little stock changed
hands. and sold at one hundred aud ten
dollars ($11OOOJ, but none is to be had to-
day.
The Bank of Wadesboro pays special
attention to collections, at reasonable
rates and RENTS promptly on day OF pay
ment This bank gives courtesy to all,
and is safe and properly managed. The
bank encourages the establishment of new
enterprises. This bank has every
facility for handling all business
and is fitted UP with all of the modern
up to-date furniture, and has recently
Joined the State Bankers Association. In
addition to the other attractions which
Wadesboro holds out to the home-seeker,
is the Pee Dee Institution, which is under
the supervision and owned by the Pee Dee
Association of the Baptist Church. and Is
one of the best educational institutions IN
North Carolina.
Last year a boys dormitory was built
and now the contract has been let to
build a girls dormitorv. In every way
Wadesboro is a desirable location for the
home-seeker, and the bank of Wadesboro
viii take pleasure in giving any informa
ton desired by inquirers.
The news & observer. [volume] (Raleigh, N.C.) 1894-current, 1903-06-28
Bank of Beaufort
One of the Leading Banks
of the SeasI1Ore
Section.

The Bank of Beaufort, with capital
stock of $4,000 paid in less than two
years ago. has earned for its stockholders
% per cent. over and above expenses, as
may be seen from the sworn statements.
Ever since its establishment the bank
has enjoyed gradual aud very satisfac-
tory growth, which has been at the rate
OF about two thousand dollars per month
in resources. Its resources are now about
$40, 900. and there is every reason to be-
lieve that they viii continue to increase.
The pleasant old historic town of Beau
fort, while it stood still for a number of
years, seemed two years ago to take on
new life. and it has since shown evidence
of gradual growth. The bank does not
claim all the credit for Beaufort's upward
move, but it does feel that if is respon-
sible to great extent for the develop
ment OF the town within the past two
years.
The bank is a great convenience to the
people, and it is its pleasure to point
with pride to the fact that it enjoys the
confidence Of every citizen of Beaufort
and Carteret county.
The directors are: N. w Taylor, Pres-
dent; B. L. Jones, Vice President; T. A.
Uzzell. Cashier; Thos. Duncan. W. L.
Arlington, John Forlaw, Alonzo Thomas,
D. s. Sanders.
The news & observer. [volume] (Raleigh, N.C.) 1894-current, 1903-06-28
First Natl Bank
of WadeSbOrO
Largest Capital and Sur
plus Between Charlotte
and Wilmington.

The First National Bank Of Wadesboro
was organized April LIST, 1894, with capital
stock of fifty thousand dollars $3.50, 100000
and today over nine years, has paid thlr-
tv-seven thousand dollars 1887 100000 to til
stockholders, and has surplus and undivided
nrofits amounting to forty thousand dol
lars ($40, 100000.
This bank has the largest capital and
surplus of any bank between Charlotte
and wilmington and south of Fayetteville.
II is the designated State, county and
town depositary, and is one OF the most
capable institutions in the State.
Mr.. ]. d. Leak is president; X. E. Lit.
tie. vice president, and w. L. Marshall,
cashier. The First National Bank pays
no interest on deposits and It's April the
9Th statement shows deposits OF one hun
bred and sevehtytwo thousand dollars
(s172, .0O) This amount is greatly IN
creased in the winter months.
Wadesboro is one of the most important
cotton markets of this State, situated as
it is near the South Carolina line, it Is
the market of several counties OF that
State as well as for the surrounding coun-
try in North Carolina, and offers the
best prices obtanable. Wadesboro has cot
tor mills silk mills, branch of the indie
pendent Oil Company, manufactures
skirts and shirts.
President Leak and Cashier Marshall
are both residents of the town Of Wades-
boro. They entered the banking business
eighteen years ago in their home town as
young leaders and are still young men.
The town of Wadesboro owns its own
electric light and water power and OPP
crates them successfully One of the
most popular features of life in Wades-
boso. is the water, which the State
Chemist has pronounced very fine, and
it is a fact that there has not been a
single case of typhoid fever since the
installation Of the water plant.
The township has macadamlzed roads,
and twenty-five thousand dollars $685.
600 00) has been spenL in permanently I'M
proving the roadways and twenty five
thousand dollars 25,O000O) additional has
been appropriated for additional maca-
damizing.
The town has two railroads, Seaboard
Air Line and the Atlantic Coast Line.
There has been a great enhancement In
value of real estate during the past few
years, this being caused by the good
roads and the fine farm country.
The last stock of the First National
Bank placed on the market sold at one
hundred and eighty-seven dollars and fifty
the condition of the town generally. The
cents ($1S7.50), and this is significant OF
First National Bank does a considerable
out of-town business, and pays special at
tention to collections, renting promptly
on date of payment at reasonable rates
The directory of the First National Bank
includes the names of L. L. Little, OF
Andersonville, planter; r. e. Little, attor-
ney: Charles M. Barnes, capitalist; James
A. Leak, planter; ]. T. Bradley, planter;
w l.. Marshall, cashier; w. c. Harrison,
vice president of the Independent Cotton
Oil Company; John D. Leak, president.
Judge R. T. Bennett, ]. D. Horne, mer-
chant, and W. j. McLendon, planter.
The news & observer. [volume] (Raleigh, N.C.) 1894-current, 1903-06-28

camille business December 1888 at Saluda,
N. c. This business was successful, and
in September, 1889, he sold out and moved
to Rutherfordton. and there bought a
half interest in the firm name of w. t.
Wolfe In a short while he bought Mr..
Wolfe's interest and for two years the
style of the firm was D. F. Morrow,
general store, where, perhaps, the most
signal success that has ever been attained,
in So short a while, by any man IN Ruth
erfordton. was the success of d. f. Nor
row in the little brick store on the east
side of Main street. where is now located
the postoffice.
In 1891 he decided to form co-partner-
ship with K. J. Carpenter, now at
Spartanburg, S. c. While a member Of
this firm Mr. Morrow saw the
great need for a bank The re-
suit was the founding of the banking
firm of Carpenter & Morrow For three
years this bank was conducted in con-
nection with the mercantile business under
the firm name of Carpenter & Morrow.
merchants and bankers.
In the beginning of 1895 he bought Mr..
Carpenters interest in the banking de-
partment, and moved into his present
place, and incorporated thoroughly
modern banking house
After the fire that destroyed almost the
entire business portion of the town. in
January, 1885, Mr.. Morrow was the first
to build the handsome brick block, which
is an ornament to the town, and in which
is located his bank.
Mr.. Morrow was at one time president
of the Rutherfordton Telephone Co, and
one of its promoters He is a member
of the Methodist Church, Mason and
a Pythian. Last year he was prominently
mentioned for the nomination for Congress
in the Tenth District He enjoys the
full confidence of the people of the dis
trict, being a public-spirited citizen, a
leader that can be depended upon in State,
church or business.
The news & observer. [volume] (Raleigh, N.C.) 1894-current, 1903-06-28
Commercial Bank
RutherfOrdton's Youngest
Bank a Tower of
Strength,

The Commercial Bank of Rutherfordton
was organized in April, 1900, and was
opened Tor business on May LIST, 1900, with
capital stock of ten thousand dollars
1t has been a success from the beginning
and leader in the business and manu-.
featuring life of Rutherford county.
Among its stockholders and directors are
embraced Rutherfordton' leading manu-
facturers and business men, and they have
managed the bank with great prudence
and success. The directors of the bank
are DR.. T. b. Twitty, Hon. NJ. H. Justice,
j. f. Flack, j. c. Mills, of Rutherfordton
S. B. Tanner and r. Hayes, of Hen
rietta; E. j. Justice, of Greensboro, and
j. l.. Morgan, of Marion, eight men who
enjoy to the fullest extent the confidence
OF the people wherever they arc known,
and who constitute a tower of strength
to any enterprise.
The president of the bank, DR.. t. b.
Twtty, is easily one of the most popular
and capable men that Rutherford county
has produced. He is a physician of skill
and a business man of wisdom and sue
cess. On three or four occasions when
his party in Rutherford county wished
to name man of great popularity, who
could get the full vote of the party and
lead it to success, DR.. Twitty has been
nominated for the State Senate and his
services to the State in that capacity have
been Of lasting value As director of the
A. and M. College and other public insti
tutions, he has also contributed largely
to the educational progress of the State.
He is interested in every effort to pro-
mote the welfare of Rutherford county.
The cashier, Mr. J. F. Flack, is a ca
pable and popular official whose prac-
teal management of the affairs of the
bank have contributed largely to its sue
cess