The Democratic advocate. [volume] (Westminster, Md.) 1865-1972, 1906-12-07
THE WESTMINSTER SAYINGS
BANK.

With a capitalization of $IoOoo.oo,
with surplus and undivided profit ac-
counts over eleven times the capitaliza-
ton, or $II2,373S5, and with total de-
posts now close to one million dollars,
or to be exact, $o7o,o42o2, what great
er tribute could be paid to the ability
of the executive officers and directorate
of the Westminster Savings Bank, what
stronger form of expression of popular
confidence possessed than is contained
in the above figures, and what could
exempify more forcibly its exceptional
standing and brilliant career-a career
having few parallels among the many
financial institutions of the country. The
Westminster Savings Bank was incor-
porated under the laws of the State of
Maryland in 1860 and began business
in the same year as a savings instltu-
ton. accepting money i'll any amount
from 10 cents upward. At that time the
acceptance of small amounts was an in
novaton that appealed at once to the
industrious and thrifty, and their earn
ings surrounded by the safeguards of
representative and reliable directorate
would in time secure for them comfort
and independence Each succeeding re-
port of the institution showed increased
popularity in the growing deposit ac-
count. and the accumulating surplus
and undivided profit accounts told the
story of an able and experienced man
agement The opening statement OF this
article reveals the results that have been
achieved from its inception to the pres
ent time, and which are all on the side
of prosperity and progresSiveness. The
Westminster Savings Bank allows inter
est on time, or special deposits, credit
ing this interest, as earned, TO the ac-
count of the depositor, and which N
turn, if allowed to remain at the option
of the patron, becomes at once an IN
terest Garner. Thus the individual ac-
count grows steadily, and as the years
roll around competency is acquired
This institution loans money ON ap-
proved collateral and real estate Sc
curities, exercising in all transactions
the greatest care in order to foster and
promote the element of SECURll Y,
so leading feature throughout its entire
career, and which is one of its most valtl-
able assets. The officers of the West
minister Savings Bank are: Elias ..
Grimes, president; Thomas E. Reese,
secretary and treasurer, and Jacob II.
Handey, clerk; and the directors are
Elias o. Grimes, Charles Billingslea, +.
Thomas Babylon, Alfred c. Bachman,
Uriah Bixler, Joseph w. Smith and
Milton P. Meyers. All the above are
men of established standing in the conf
munity, whose life long association with
its people has begotten and fostered the
most pronounced confidence in their bus
mess and financial ability-qualities
which have been demonstrated by the
success achieved in their own individual
capacities and private interests In their
hands the interests of patrons will be
thoroughly safeguarded to the end that
the brilliant career and splendid repu-
tation of the Westminster Savings Bank
will be held inviolate and untarmshed
To the stockholders of the Westminster
Savings Bank its career has been
iudicious and profitable investment, to
its patrons secure and money-earning
depository, to its executive officers and
directorate constant source OF gratlfl-
cation. and to the community in which
it flourishes testimonial in substan-
tal form of the industry, thrift and good
sense of its people, whose recognition
so generously accorded has made such
results possible.