Saint Mary's beacon. [volume] (Leonard Town, Md.) 1867-1983, 1908-01-16

o6oaDs h1Ss VIC t441A NSsON9 ptooOGtby
Of the country. causing erratic and
over-speculstion, was the real source
Of the recent market trouble. The
Unsuitable demands on capital by
corporations are causing the people
70 ask bow car our market possibly
absorb the quantities Of new paper
which are 70 oe put out for the an
nounced increase OF capital. Ii is
admitted by MANY that commerce
sod industry will not go the pace OF
1901 during the current year.
Many lessons were taken to heart in
the recent up heavel ny the nation 3
industrial and business leaders,
and more healthy condition is ex-
Dected TO prevail during the remain
der Of 1908. This reaction is ia it
self sign Of progress. as our vast
commercial and industrial bodies
will gather new strength and momen-
tum. The outlook both for the Sc
curity aud money market and for bus.
mess conditions generally is decided
~ cheerful and encouraging.
Certain publications contain a
number q important expressions
Of opinion Of prominent men of az
fairs upon present financial and in
dustrial Conditions, and Mr.. Fl. A.
Rodgers. one Of New York's great
est financiers has the following to
his credit: II believe the present
conditions are bound TO right them
selves. | believe the country is all
right and that the confidence OF the
people generally will be speedily
restored. The country has grown
so tremendously. the population has
increased SO vastly and the produc-
ton OF wealth has gone ahead so
enormously over what il was a few
years ago that ! cannot believe that
there will be any serious interior
ence with the tide OF prosperity that
the whole nation has experienced
for a number Of years past. The
country is yielding wealth as never
before. Not only have vast quaint
ties OF gold and other metals been
taken from the ground in recent
years-copper, iron. coal. ETC.. but
in agricultural pro-
ducts is having an important part
10 bringing new and more perma-
nent prosperity to the people.
This clear note OF optimism is re-
freshing and the position of such
men is sustained by the logic OF the
facts recited, as view them. There
are some people who usually talk
pessimistically, partly because they
really feel SO, but, in part. because
they want TO feel so. The earth
has. indeed, been yielding wealth
as never before
Owing to the advantages and re-
sources Of this section and TO the
loyal co operation of the kind and
good people, we are enabled to show
our net profits. after deducting ex-
penses, taxes etc. OF $6268. 81 for the
year just ended. Or profit OF %
per cent, on the capital stock. This
is an increase over the earnings OF
last year OF per cent.
The things that have chronicled,
il they be good and thereby reflect
creditable upon our bank, it is
through no real merit OF mine, but
is rather due to the fidelity and un-
firing devotion to duty OF those that
have so courageously carried for
ward orr banner.
And when we stand at last in the
presence OF Hin that doeth all things
we'll, may we, at least, have the
qualification Ofknowing that we have
been true TO the interest that have
been entrusted to our care, also that
we have served the many with whom
we have had business intercourse
honestly and faithfully.
Respectfully submitted
L +. MUMFoRD, President.