The times dispatch. [volume] (Richmond, Va.) 1903-1914, 1908-02-23
largest in the world, has Just been com

largest in the world, has Just been COM
'pleated.
The parent factory here in Wakefield,
the two branch factories In Suffolk,
together with their large interests at
other points. notably Norfolk and Pet
ersburg. make the Balm Peanut Com
pany with connections, easily the larg-
est handlers of the popular and tooth
some peanut in the world.
Wakencld's Healthy Bunk.
or course the varied and immense
business interests enumerated above
necessitated ample banking facilities at
Wakefield, and in 1902 the Bank of Sus-
sex and Surry was established, opening
its doors for business on the first day
of August OF that year.
1t started with capital of $4,000,
which in 1901 was increased to $685.
600. In 1905 a branch bank was estab-
lishcd at I,nr in Southampton county,
and last year another branch was start
ed at Dendron, In Surry county. These
branches were necessary for the con-
venience and accommodation of the
banks patrons in those sections.
This bank celebrated its fifth birth
day by making an exhibit for the joy
of the stockholders, which showed its
wonderful growth in the half of a de-
cade. This exhibit brought out the
gratifying fast that in 1903, when the
bank was n year old. the deposits We're
s102.S53, surplus and profits s4.o2s. and
total assets s126,s53. On the same date
of 1906 deposits We're s1S9,433. surplus
sI7,651, and total assets s233,oS5. On
August LIST, 1907, the deposits We're
s30O.9s3, surplus and profits s33,223 and
total assets sSsl.707.
To-dnyss Showing.
The books to-day make the following
showing: Real estate and fixtures, Sill
SIC; loans and discounts, s211.666;
stocks, s2O,096; cash and due from other
banks. s13S.S92, and total resources
s3S2.410. The bank now has a surplus
of $4,000; undivided profits on hand.
s1T2S: reserve fund for interest, $500,
and deposits amounting to s320,3S1.
These figures tell as no language can
| of the healty growth of Virginia
county bank during five years and a
| Ealf of its young life.
| Able and Conservative management.
| The bank pays per cent. interest
on time deposits and has healthy in
lterest reserve fund to guarantee its
payment: The istitution is ably man
aged by the following officers: P. d.
Balm, president; Edw. Rogers, vice
president; Il. p. Pulley. president;
w. III. Savedge, cashier; +. b. Richard
son, cashier at lvor; L. NJ Richardson,
cashier at Dendron.
| Under their able and conservative
management. the bank has prospercd
all its life and weathered the late panic
without a jar. Never for day even
did it resort to scrip" and never did
it turn down or curtail depositors
check Moreover it cashed all foreign
checks presented by It's customers and
did not do as many banks did during
the scary times. accept such checks
for collection
The directory is made up of some OF
the best business men and most sue
cessful of the sturdy farmers of the
three counties cornering here.
burglar Proof Safe Tested.
The bank Of Sussex and Surry is the
only country bank I have ever hearC
LOT that built 4 banking house before
1t commenced business The substan.
Itial building was built and equipped
as soon as the company was organized
and when business was commenced OF
eHC A'tSI u AUGUST, loUl, the DanF
walked into It's own home.
The building was erected for the pur
pose and equipped with burglar proof
safe and fire proof vault 1t has beer
demonstrated that the safe is burgla,
Iproof. On the night of December Gath
1909 burglars who We're evidently pro.
fessionals, made their way into the
vault by the use of dynamite and ham.
mered vigorously on the safe. They
used nitro. glycerene to no purpose, FOL
the safe would not yield UP it's trea,
sure. There was reason to believe thai
they worked the larger part of the
might on the safe, but while they dam,
LACED 1t so much as to necessitate a new
one at tho eXpenselBof tho Insurance
company, they never got on the inside
land at daylight they retired without
booty or loot.
During the peanut-selling season
this bank PAYS out great deal O,
money. frequently paying out for pea
much rs $4,000 per day for days at /
time,
Uniquely Dry Town,
H Wakefield is a dry town and a strict
lily temperance town. 1t is UNIQUE ii
that 1t Is Il dry town because its peopl,
are sober Christian citizens. The tow,
has never had the annoyance and bottle
of local option election, but there hn
not been saloon here for years. slmp
~ because ono will not find any patron