The Nashville globe. [volume] (Nashville, Tenn.) 1906-193?, 1908-11-20

An effort Will be made by the Globe
to get an accurate statement of all
the Negro banks and banking concerns
doing business in the United States for
1908, up to and including December
31st. Quite number of banks have
been organized and opened since this
year, and in order to properly keep
the information before the readers Of
this paper, the same campaign will
be inaugurated as was begun last Janu-
airy with the results shown in our
bank directory. The entire Southland
is variously poisoning as a rose with
these financial institutions. The race
is receiving two-fold benefits by their
establishment and will, no doubt, have
a double blessing ere long by their
continual operation There are now
only a few cities of any Importance in
the United States, especially in the
South, where Negro banks have not
been established and all are doing a
good business. Among the institu-
lions opened this year was Negro
bank in Chicago, located at the cor
ner of State and Thirty-siXth streets.
Although not an institution of ma
tional reputation, it has moved along
with the greatest possible success. An
other was opened at Tampa, Fla, and
it is reported that one is to be opened
at Mama, Fla. But the most encour-
aging news in the financial world is
the effort on foot to get a Negro bank
in the following cities: New York,
Baltimore, Boston, Atlanta and New
Orleans Mobile is also counted in the
list.
at is hardly possible" said another
well-informed gentleman, who ira
verses the whole country, chat anoth-
err six months will come around and
not find Negro banks being operated
in the cities just mentioned The most
possible of them and, no doubt, the
ones that are certain to get the banks,
are the southern cities, those in the
far south, like Atlanta, Ca with its
large Negro population, it's many fra
ternal organizations, it's schools and
its Negro enterprises, or Mobile, with
its scores of prominent men of the
race, conducting great commercial en-
terpTises, and where the population is
almost equally divided and where al
most real harmony exists between the
races"
In q conversation with two New Or
leans men, namely, Rev. Simms, pastor
of the Tulane Avenue Baptist Church
and Rev. Porter, it was learned defin-
itely that plans are already on foot
by which nine thousand Negroes in
New Orleans, as well as those living in
Algiers, Gretna and other suburbs
have about decided upon the date of
opening their bank. The stock is
almost ready to be put on the market
While no officers have been elected
and no site selected for the location
it is understood that capital stock of
100000 has been agreed upon
All in all, the record of Negro banks
for the year 1908 is an improvement
over that of 1867. None of the banks
operated by Negroel so far have suf
fered from the financial panic, and if
the reports from all of them can be
secured for the year 1908, it will show
an enormous amount of money hand
led by the race. 1t is predicted that
the clearance of the Negro banks OF
the United States will aggregate this
year not less than five millions OF
dollars. There are some of the insti
tutions operated on the highest order
n and yet, they have the misfortune OF
not giving out reports from time tC
time This, to a certain extent not