The semi-weekly messenger. [volume] (Wilmington, N.C.) 1897-1908, 1904-01-15
A FINE
The Business of Both Banks Increased
Roard OF Directors Elected-Om-
GERS Elected for Ensuing Year
Statement Made by the Officials of
Both Institutions.

The annual meeting of the stockhold-
ers Of the Murchison National bank
was held yesterday morning in the
directors loom Of the bank. Colcnel
Walker Taylor presided over the meet
ing. There were 1.530 shares repre-
scented
The first business to be disposed of
was the election of a board of directors
for the ensuing ear. All of the old
directors were reelected bIt Nj. r. w.
wallace. who was left off of board at
his own reQuest Mr.. NJ. w. Divine was
elected to fill the vacancy. The direc-
tors are Messrs. <. M. Murch.son, J.
A. Springer. j. c. Stevenson, T. M.
Emerson. H c. Mcqueen. ]. V. Grain
ger, o. Z. Nichols. VI. ]. Corbett, w r.
Cooper. n. jacob, III. w. Divine and
John F. McNair.
President II. c. Mcqueen made the
following comparative statement which
shows the wonderful progress made, by
this institution during the past year.
January nd. 1903-Loans, $915 ,2S4.S6;
u. s. bonds, $257 GOO; bank building,
$780, Oe; cash. $5SO.S91.S2; capital. $780,
oSe; profit, $50, 26S.53; circulation, $751;
$50; 'eposits 81, 243 $685..
January End. $1.C55 SIC.
A: u s.. bonds. $3.50. 600; bank building,
SIS. $780,; cash. 662,941.16; capital, $780,
COO; proht, S106, 5S1, %; circulation. 5000 =
zoe; deposits 81, 491, 1888.
Net profts-1901, $1S,0 600, 9 per cent.
Net profits. 1902, $4,000 II per cent.
Net profits 1903, $42, coo. IA per
1900 -I4nIl0Iln-r ;n4I,,1sD~ NJ
John d. Bellamy, Jr., and Mr.. w. H.
Sprunt made short talks in which they
spoke in the highest terms OF the man
asement OF the bank.
Ihe directors met after the stock
holders meeting adjourned and elected
the following officers.
Presidential. c. Mcqueen,
Cashier. V. Granger.
Assistant Cashier-C. S. Granger.
One of the stockholders stated yes
terday that the growth Of this banks
business during the last few years had
been wonderful and especially during
the past year
ATLANTIC NATIONAL BANK.
The stockholders of the atlantic Ma
tional bank also met yesterday morn
ing and 500 shares were represented.
The meeting was presided over by Mr..
samuel Bear The following board Of
directors we've elected:
Il J.. Heyer, William Calder, James
II. Chadbourn. George R French, D.
NEcHachern, J. G.. L. GieSchen. II. l.
yolIers. H. B: Short. John 8. Arm
strong, N. A Hunt. w. E. Worth,
Aadrew Noreland and c. c. Chad
beuru.
At a meeting OF directors, which
was held yesterday the following Off
oArs were elected:
President-John S. Armstrong.
Hshier-Andrew Moreland.
Assistant CASHIER. w. Yates.
Messrs. James Ii. Chadbourn, w E.
Worth and D. McEachern were ap-
pointed as an examining committee to
report on the financial condition of the
bank. The report made by the COM
mittee was exceedingly gratifying. It
showed that the bank did not owe a
penny Of re-discount. or g. dollars of
bills payable and that the bank pays
no interest on deposits of any kind.
The surplus and undivided profits are
$3.50. zee no part of which has been paid
in. Since organization of the bank div
idende amounting to $3.50, $50 have been
paid, making the total earnings more
than $3se, 600. The deposits art the pres
emit time are over 81, 400, 900.
The business Of this bank for the
past year has been exceedingly fine and
the Institution continues to hold a high
place among the profitable banks OF the
state