The free lance. (Fredericksburg, Va.) 1885-1926, 1905-04-13
BIC CAPITAL
OF NEW BANK
SOUTHERN INTERSTATE BANK IS
BEING ORGANIZED BY RICH
MOND BUSINESS MAN
AUTHORIZED STOCK OF ONE MILLION OOLLRS.

Richmond H. To have. before the end OF
OF the present year, a bank with an au.
thotized capital ofSl ,OOO. OtU Ihcpro-
mOtrrs of the enterprise propose tomak,
il a. popular institution. tine prize ol th'
shane. of the stock being each. i'm or
der that p~oplo of limited means may be-.
come shareholders ou an equal footing
with capitalists and people ol larg'
means
;. Galc-ki. oi This city, known to the
business world by his connection with
tlc optical company which bears ms
name. also ~ president Oi the Proyldcnt
Savings bank. and supreme secretary oi
the American Guild beneficial organi-
zation, il chairman oi the committee ol
urgauizatiou The other members 9th
committee arr u. a. Ritchc private -cc-
rotary To Governor Montague. and II.
T. Gates, ol the wholesale grocery firm
OF T.. ". Gates Sons Company
Dr. Galrski was seen to-day and asked
regarding the formation ol the southern
Interstate bank. which is to be- the name
OF the new institution and said
1T is an acknowledged fact that as au
investment nothing i- safer. more dc-ra-
hlc cor more readily converted into cash
than the stock at % Wclrconductcd bank.
and il can be- added with pioprirty that
lew propositions ON 20 salrund legitimate
basis prove more profitable than the
original subscriptions tO large bank n
course OF formation.
Interstate bank with principal offices in
this city. with an authorized capital OF
II .OOO. 600. and iu doing ~o we propo~'
10 distribute the holdings and place the
par yalu" OF the stock AT : a. share. $50
a. to cnatc ownership Us we'll AZ friend
ship among the ma~-"S, which IL always
of great yaluc alike 10 the stockholders
and the bank While this bank proposes
10 do "a general banking business 10 Will
be- one of it~ aims 10 900 every legitimate
way aid and encourage the gnat and
important interests of the agIiculturistS.
mechanics ami men Ol moderate means.
SlOO.OOO ALREADY ~rnS,RHrp.
-lnauguratcd Joss than % month
ago. subscriptions to the capital stock
amounting to about Sluo .OOOhayr hrn
RECEIVED. and arc being received u daily
increasing Numbers from every section
of thr country. The subscriptions are
not only confined % this State. bat come
from California. Indiana Pennsylvania.
and nearly every State IN the mon.
"One of the features noticeable boo the
organization j. the way in whlchiarmer~
and truckers in all parts of the State are
becoming interested. and are sending lu
their names az stockholders. No stock
holder il permitted 90 take less than ten
Shar.~ nor mOr, than five thousand. and
in this way it, is the intention oi the pro-
moter~ tu have the stock distributed as
widely az possible throughout the nitcd
States. the idea being to pppularzn the
bank. aud to have friends boo all sections
OF the country.
GREAT GROWTH ~ VALUES.
DR.. Gale~ki Illustrated theynluc oibank
stock hy referring toa long list ui insti-
buttons which have h,g,u iu business for
years. beginning with investments OF
500. and hc showed the present value
of the banks Ia be-. German Savings ami
Loan bank. San Francisco. original iu-
vrStmcut Of ; TOO now worth S2.3OO.
Merchants National bank oi Richmond.
original investment OF 500 IiOW worth
$3.50: Farmers bank of NansrmOni.
Suffolk. Va. original investment ui 500
now worth $4,000.
1T il the intention To organic the
bank and begin actural operation az
soon ~ onr-hali OF the capital stock has
been subscribed. added DR.. Galceki.
and mo the ratio at which the subscrip-
tions are being received and the popular
ity with which the proposition seems 10
meet it j. likely that it will boz done with
+ hr advent of early fall 80