The Lee County journal. (Leesburg, Ga.) 1904-19??, 1906-03-09
THE MANY wITHAM BANKS.
Most Practical and Successful Banking Sys-
tenn in the World.

tenn in the World.
This country, progressive and and orig
NAL as it is, has not furnished a business
development more successful and interest
ing or of greater practical value to the peo-
pie and territory affected than the With
am system of banks, embracing a system
OF seventy institutions, each separate and
distinct, and yet part Of The Whole, sept
tered throughout the state Of Georgia,
with central home in Atlantar
Mr.. Witham and his scores of associates
and assistants lave demonstrated that the
banking field is as susceptible to the in
fuences OF new ideas, advanced and prac-
teal Improvements as those Of railroading
manufacturing, commerce or any other
branch of modern business.
About seventeen years ago the first
Witham bank was organized at Jackson,
Ga, with capital of $4,000
AT the end of the third year the COM
bined capital of the Wilha1n banks was
$500 now the combined capital of the
William banks amounts to $I,272 500
with surplus Of over $500, 900, which is
over ID per cent of the entire capital EN-
ployed by the state banks in Georgia at
the beginning Of the year Ilo5.
The deposits in the Withan banks also
amount to one-eighth of the enthe depos
its in state banks in Georgia.
In addition to the surplus accumulated.
the divil ends to stockholders will average
20 rer cent per anuum, thus showing that
the stockholders have, or the average dou-
bled their investment every five years.
The Atlanta office of the Wltham banks
which is headquarters, handles over SIS.
900 900 per annum, and is conducted y
w. S. WitAam, president aud inarcia'
agent, and a large corps of able and expe
rieuced assistants.
The William banks are not a ch7in OF
banks, as each one has its own capital stock
surplus, stockholders, and board Of dice
tors; they have no connection one with t {
other. Many attempts have been mad
il the United States to conduct system
of braech banks or chain of banks, and
comm:nity of interest banks, but they all
failed OF their purpose and now are fol
loring the Wilham plan, which is remark
able for It's wonderful success and sale
guards. This ,.lan has been adopted by
O her>; two in the west and one in Penn
syIvauia, and kavo p:oved very Successful.
A unique ant interesting feature of the
William banks islhe depositors' guarantee
fuHu Viii III insures the deposits against
los. 'lhere a'e no Other banks i'll the
world that offer this protection. There is
bill pending i the present congress for
tle adoption o, this plan to secure national
baLks.
This is not only great compliment 10
Mr. Williams genus as fnan Ter, but
the ,iighes possible endorsement Of bis
methods Of money handling.
In addilioe to this, the Witham banks
have created The cash emergency fund of
5000, 600 and this together with their f.
nancial backing, giv>s each bank direct
foreign backing Of over $4,000, although
tie individual ca ita OF the banks in ma
ny instances does not exceed S25,c COO.
The Witham banks have corps Of trav
cling auditors, who examine carefully ana
audit each bank Two or three times each
year. They also have mutual law depart