The evening star and Newark advertiser. [volume] (Newark, N.J.) 1907-1908, 1907-11-12
NEGROES MAY
START BANK
HERE 5.
AfrO=American Leader Sees
Great Possibilities
In Newark

Mrs. Maggie L. Walker, president Of
the st. Luke's Savings Bank of Rich
mond, Va, an organization for negroes,
and the first woman in America to
be elected president of a bank, is
spending several days In this city, and
as the right worthy grand secretary of
the Independent Order of st. Luke is
making a tour of the various councils
of this State. Mrs. Walker was for
years a teacher in the public schools
of Richmond, Va, and Is an eloquent
speaker. She is also the managing
editor of the st. Luke's Herald, the
official organ of the order.
In conversation with a reporter today
Mrs. Walker said:
II believe hat the world is full of
opportunities, and the Afro-American
race is full of possibilities. I try to
teach my people that 1t Is better to
care for the living than to bury the
dead; that it Is better to buy clothes
than it is to buy shrouds; that it Is
better to puy houses than 1t is to buy
baskets; that 1t Is better to buy lots
In the city of the living than it is to
buy lots in the city of the dead"
In speaking Of the success that has re-
Gently attended her organization under her
leadership, Mrs. walker said that eight
years ago there were less than LOCO mem
bers In its order, n no money in the
treasury, while at the present time there
are H,00 adult members and 10000 chill
dren, with 500, 600 worth of property and
not a dollar of Indebtedness.
She talked interestingly of the opera
ton of the st. Luke's a at Richmond.
and said that prior to the establishment
of its bank the order had $S5, 1000 on de-
post in the white blanks Of Richmond.
She said that the organization gave EN-
ployment to scores of young negro boys
and girls who are clerks and typesetters.
Seven negro women were the incorpora-
tors of the bank.
The organization also owns a millinery
store in Richmond, from which nearly al
Of the negro women of that city pur'
chase their hats. In discussing that feature
Of the enterprise she said:
when we decided to open n millinery
store we started out to raise 5000 In thirty
days, and at the end of that time we hao
81, 900. and, instead of the millinery store
we opened a general department store ano
put In $4,000 worth Of hats for Easter. we
sold 5000 hats, and made over $500 In ter
days. We have a four-story department
store, with elevators. While the whites
she said. ARE preaching segregation ant
Jim Crowism for the negroes, we are
taking them at their word in Richmond
and are s~egregating our dollars and open
ing department stores, coal yards anc
other negro enterprises. With this tht
negro is getting religion and education ant
teaching h great lesson of morality of 1T
w~omanhood, and nothing can stop ouI
progress.
You don't hear Of any negro banks fail
ing or of any negro business enterprises
going into the hands of receivers, but they
are all prospecting and making money fol
their stockholders and promoters. We arr
going to start a branch bank in Wash
ington, D. c., as well as a department
store"
When asked II her visit to the city ha'
for its object the establishment of an en-
terprise among the negroes here, she said
That is all with the people of W
and vicinity If the people here will Civ
us the support that it will warrant w
would start business right here. and
don't know of a better field than Newarl
from what 1 have seen during my visi
hara ~