New-York tribune., 1905-08-13

rock foundation" became the text OF many an
address TO the Birmingham negroes
The bank a success. 1t became a great
factor in the social life of negroes. The person
who has a deposit is looked upon being
one of some social prestige. "Yo in de sabings
bank?" is now asked at the social functions in
stead Of "Yo goin TO camp meetin?" Great
pride is taken in the deposits. and sometimes
the creditor is left to shift for himself in order
that the deposit may be left intact Not infre-
quenty the matrimonial eligibility of maids is
esteemed by the balances to their credit in the
bank.
There more than 1000 colored depositors,
one-fifth Of the colored population Of Birming-
ham. OF these 1000 have purchased homes
with their savings The total deposits amount
to more than S125.OOO. The bank is a State
depository. and owns it's own bank offices in the
heart Of the city.
The bank of '"The True Reformers'' is a.
branch of the grandiosely named order. The
Grand Fountain Of the United Order OF True
Reformers." This order was founded in 1851
the year that the Tuskegee Institute was es-
tablished, by the Rev. W. W. Browne, a colored
man. It has about 10000 members to whom it
has distributed more than s2,OOO,OOO in Dement'S.
It's founder. who died in 1897. followed the ex-
ample of the founder OF the Standard OIL Com
pany in making use OF by-products. His first
chartered under the laws of Virginia in 1888.
1t opened business with a capital OF $4,000 and
81 200 in deposits II has now more than 10000
depostors assets OF more than S5O0.000. and
has done a volume Of business exceeding
S10,000,000. II came prominently before the
public in the course OF the panic in 1893, when
every other bank in Richmond was compelled TO
use scrip in the transaction OF its daily bus-
ness When no other bank could do so IL was
able to advance money to the superintendent of
public schools TO pay his salary accounts.
In 1892 the second OF its side lines" was
! tabllshed This was the real estate department.
/ It furnishes a convenient channel for the in
vestment of the funds of the bank. The True
Reformers' own their own Offices and business
buildings in several cities ranging in value from
! $4,000 to $4,000 each. the total being more
than 100000
! The order also publishes newspaper, with
circulation of more than ten thousand copies. At
tached 10 the newspaper office is job printing
! plant which does all the printing for the order
and outside work besides
An old folks home is another branch Of The
| True Reformers work. In 1898 the order
| bought a farm of 63414 acres In the suburbs of
/ Richmond a site for this institution Part of
! this -ract subdivided into building lots.
More than two hundred Of these have been sold.
II is proposed TO name this community Browne
vile, in honor Of the founder of the order.
Connected with the order also is industrial
and mercantile association which operates a
system OF stores in several cities, and owns
property worth more than 100000. The annual
business of the five stores already established
is over 100000 This department also conducts
The Hotel True Reformer,' in Richmond. This
hotel. which can accommodate $50 guests, Book
er T. Washington declares is the finest negro
hotel in the South The employees Of The True
Reformer number 11O. al colored persons.