The Nashville globe. [volume] (Nashville, Tenn.) 1906-193?, 1908-01-31
PROVIDENT BANK AND TRUST
COMPANY.
The First Negro Bank in the State of
Texas-Located at Fl. Worth.

Texas-Located at Fl. Worth.
Fort Worth, Tex, Jan. II, 1908.-
The directors of the Provident Bank
& Trust Company, the first bank in
the State Of Texas owned and CON
trolled by Negroes, recently issued Its
semi-annual statement 1t demon,
strated beyond any reasonable doubt
the Negroes executive ability when
coupled with patience and courage
along the lines of financial endeavor.
Foremost in the promotion of this in
stitutiOn was Mr.. M. X Mackey, a sue
Ce-eful cotton dealer of that city, who
after seeking the influence Of some of
the best professional and business men
of Fort Worth, succeeded in interest
mo them in the promotion of bank.
He and others put their heads togeth-
or and organized They secured the
sid and influence of Mr.. R. c. Houston,
Ir., President of the local Negro Bust
ness League, which body was unan-
nous in it's decision that a Negro
bank in this city was timely and they
pledged their support for its promo
ton Mr.. Houston readily Joined the
movement and after hard and jealous
efforts, sufficient stock was subscribed
'or and they became convinced that
the bank was possibility.
On July 3, 1907, the stockholders
elected the following officers: r. c
Houston, Jr, President; DR.. F. w. Ad-
ans, First Vice President; NJ w. Wat
kins, Second Vice President and S. P.
Allen, Cashier. The officers and di-
rectors at once put forth every effort
to secure ample stock upon which to
operate. July "a, 1907 marked the
initial day of Texas Negroes in bank
'ng business, its first deposit being
600. When the banks statement was
endered last it had received on de-
Dosit $46,291S7.
General Usefulness.
The bank was organized to come to
the rescue of the laboring man and wOm-
IN, the professional man and woman
and the Negro business man and woman.
1t now has loans to the amount of
S4,675.82. The bank has been an in
spiration to the people in general, be-
ginning ait the school room, il has con.
rinCed the public that it is capable of
serving them in any capacity that such
IN institution may require. Its officers
and directors have visited the laboring
man in the ditch, the washerwoman at
her tub, and have talked TO them in d
business way to save their money and
invest a small share of their earnings
IN the bank They have done effect
We work. On one occasion an elder
ly gentleman, who receives a pension
from the Government, came to the
President in his private office and
gave him $500, saying, "Take this
money on deposit; | would have been
a hundred dollars better off if this in
81 tuition had been going a year ago. "
The bank has on deposit 90 per cent
If the money of the secret fraternitiey
Of Fort Worth and throNgh the solici-
tations and inducemeD' offered by it's
President is in line for the State
Treasury of a number of the Grant
Lodges of Texas.
The Trust Department.
BY a recent act of the Board of Di
rectols it was decided to put common
stock on the market to develop the
real estate department. The money
coming in from the sale of this stock
has been invested to improve valuable
real estate property of Fort Worth.
GROCERY STORE DESTROYED.
Fire completely destroyed the gro
cry store Of Messrs. Cotton & Over
| ton lnot AInrl don rn,n,.r,i,,.r IL