The Brunswick news. [volume] (Brunswick, Ga.) 1906-2016, 1908-07-09
THE SOUTH GEORGIA
BANKERS HAVE
ORGANIZED
LOCAL NATIONAL BANK MEMBER
OF NEW ORGANIZATION WHICH
WAS FORMED AT MEETING IN
SAVANNAH TUESDAY.

At a meeting in Savannah Tuesday
Of representatives CT q majority cf
he national banks OF. se7wth Georgia,
the South Atlantic Maths Currency
Association was organizsQ, officers
elected and resolutions passed by the
new organization.
The National Bank Of Brunswick
was represented at the meeting by
Vice President E. H. Nason. Nearly
every national bank in this section Of
the state was represeneed at the meet
ing.
The organization meeting will be
held little later, when a committee
ascertains what banks are eligible
for membership, as well as those
which desiry to become members
| The meeting was a most representa-,
tive one from the standpoint Of the
national banks in this part Of the
state. That so many of the banks
with large capital were represented
was very gratifying to those who sent
out the notices to sound the bankers
upon the question of organization, un-
der the recently passed Aldrich-Vree-
land currency bill.
Name Was Determined.
While the representation at this
conference demonstrated how easy it
would be for the South Georgia bank
ers to form a national currency organ
lization without taking in any of the
banks in South Carolina or Florida
Istill it seemed to be the sense cf the
meeting that it would be best to
igiye the association tna more general
name of the South Atlantic National
Clearing Association and leave the
way open for the admis.iou Of nation.
al banks from adjoining states which
are located near the dividing line.
Just as soon rs enough assents have
been received to swell the capital and
surplus UP to the required $5,000,O00
another meeting of the bankers viii
be called ana steps VIII be taken to
form a permanent organization.
The conference was held in the dir
ectors room in the National Bank of
Savannah at II clock Capt r. D.
! B!oodworth. president Of the Savan-
nah Clearing Association. and cashier
Of the National Bank OF Savannah
was elected chairman. and Mr.. L. r.
Hillyer, vice president Of inc Ameri-
can National Bank of Maccn. was
made secretary.
| 1t was resolved that all of those Who
participated in the meeting were not
lrequired to Join the South Atlantic
Organization but they We're cordially
invited TO tdo SO.
Not Limited 10 Georgia.
On motion it was decided that a
national currency association be
formed to be called the South Atlantic
National Currency Association, to be
composed Of national banks in South
and Eastern Georgia, and such banks
in South Carolina and Florida as may
desire to unite with the association.
Chairman Bloodworth named a
committee of three, Messrs. Joseph
a. Davis, vice president Of the Citi-
zens First National Bank Of Albany,
Vice President l.. P Hillyer Of the
American National Bank of Macon,
and Mr.. w NJ. Dayant, cashier Of the
Merchants National Bank Of Savannah
10 prepare a constitution and set Of
by laws for the association.
1t was decided that a circular letter
showing the action taken at this
meeting be sent to all of the eligible
national banks in South Georgia and
such national banks in Florida and
South Carolina as the chairman may
elect
This resolution was adopted
"ResClyed, further, that as soon as
rational banks whose capital and sur
iplus aggregate rot Jess than $4,000
1000 shall signify their intention to be.
eome members and shall give notice
that the several boards Of directors
/ have adopted the form of resolution
prescribed by the treasury department
that the chairman Of this meeting
shall call ting Of the asserting
banks to be held in Savannah at a
date tc be fixed by him after consult
ling with staid bank"