The Birmingham age-herald. [volume] (Birmingham, Ala.) 1902-1950, 1907-01-31
BANK PRESIDENT
RESIGNS POSITION
J. R. Palmer viii Return to
Georgetown, KY
BONDS READY TO DELIVER
Mayor Smith of Gadsden Will Now
Push the Paving of Broad Street.
To Build a New Hotel.
Other News.

Gadsden, January 30.@Special.)- ii. r.
Palmer, vice president of the First
National bank. has severed his connec-
ton with the institution and has an
nounced that he will return to George
town. Ky, his former home, and will
become president of new banking in-
stitution now being organized there. MI
Palmer has had the change under consid-
Grafton for some time but only rendered
his resignation at meeting of the direc-
tors of the bank held yesterday evening.
The directors and officers of the First
National expressed regret at the impend-
ing departure of Mr. Palmer, who has
rendered much valuable aid to the splen-
did institution during his administration
of its affairs.
The vacancy occasioned hv Mr.. Pal
mers resignation has been accepted by
Mr.. Snowdin McGaughey of Sheffield,
Ala. who is a successful banker anG
comes to this city highly endorsed. Al
though it has not been announced, 1t is
understood from reliable sources that the
First National will shortly increase its
capital stock from 10000 to $4,000.
The rapid increase in business during
the past twelve months has made this
step necessary. Its capital stock was
increased last year from $4,000 to 100000
and its deposits have already passed the
half-million dollar mark
First Negro Runaway.
The first runaway marriage among ne
groes in this county was recorded yes
terday by probate clerk Forney Hughes.
The parties were Emma Montgomery
and VIII Phillips. and hailed from Swan
sea, from which place they fed to Gads-
den to escape the wrath of the woman's
relatives. 1t is very seldom that negroes
have any romance connected with their
marriage and this case attracted a great
deal of comment.
Mayor Charles p. Smith has announced
that the $4,000 issue of street improve
ment bonds will be delivered to the pur-
chasers this week, and that there will be
no delay in paving Broad street.
The work will have been completed
before the present Administrations term
o foffice expirts and another achieve
ment will be credited to the progressive
officials who have done so much towards
the city's advancement. Engineer Julian
Kendrick will have charge of the paving
and is now engaged in preparing the
plans, and will advertise for bids at once.
Vitrified brick will be the material used.
The sidewalks along Broad street will be
widened to eighteen feet and this will
leave the street sixty-five feet in width.
To Have Baseball.
Although nothing definite has as yet
been done by the parties interested in or
ganizing a baseball league to be COM
posed of the nearby cities. 1t is thought
a meeting will be held within few days
to perfect an organza ton.
The manager and owl, of the local
ball park states that he is In correspond
ence with the parties interested and
thinks that there is every assurance that
the league will be a success 1t is thought
that six teams will be included in the or
ganization, which will be known as the
Georgia Alabama Tennessee league.
The cities under consideration are: An
niston. Gadesden, Talladega, Rome Dalton
and Chattanooga. The local organization
is already negotiating for some good
players and there Is every reason 10
believe that Gadsden will have a team in
keeping with any Of the cities mentioned
A. s. Hertz of Montgomery announced
today that he was at the head of a conf
pany which proposes to build and operate
a new hotel in this city. 1t is thought
that all the preliminaries will be closed
this afternoon or early in the morning
Two sites are under consideration for the
hotel. One is at the corner of Broad and
Third streets, and is the property of the
Harding syndicate. and the other is az
the corner of Chestnut and Third streets.
Both sites are available. The building
will be three-stories high, and will be of
modern construction and will be built Of
brick and stone. and will contain fifty
two rooms. Half OF the stock has already
been taken by Mr.. Hertz. and Montgom-
erv capitalists. and the new structure
will cost between $4,000 and SO co.,