The Robesonian. [volume] (Lumberton, N.C.) 1870-current, 1909-05-20
CAPITAL STOCK INCREAS-
ED.

Books of SubscI ip.'o on for New
Stock-lncrease to be$25, 900 c
or $4,000, to Keep Pace .
With Growth and Develop I
ment of Town-Takes Over
Saving Deposits of Robson
County Loan and Trust Co.
In The Robesonian of the 9th
inst. was published a news item
to the effect that called meet
ing of the stockholders of the
Bank of Lumberton was held on
the 4th inst. to consider the
matter of increasing the capital
stock of the bank and that the
directors were authorized to in
crease the capital stock to at |
least $4,000. This decision was
a result of recognition of the
fact that the town has out
grown its banking facilities, and
it was determined that the cap
ital stock of the bank should be
increased to keep pace with the
wonderful growth and develop
ment of the town and it's various
enterprises, to enable the bank
to extend it's business and to
take care of all the legitimate
and profitable new business which
is offered to it.
At the meeting referred to,
| full particulars of which The
Robesonian was not authorized
to give at the time, the directors
OF the bank were authorized to
sell new stock to an amount not
less than $25, 900 nor more than
$50, 600, the particular amount
between the minimum and max
imum to be at the discretion of
: the directors, the stock to
be issued at the price of the
actual book value of the old
stock, as of July 1, this year,
and subscriptions to the new
. stock to be paid Is per cent.
. July l, Is per cent. October l
: and the remainder November l..
{ The directors have now opened
a books of subscription for the
new stock and have determined
to place it only where it will be
O of advantage to the bank in ex.
v tending it's influence and bust
q ness.
The directors of the Bank O.
i LumbertOn were also authorized
: to take over the present saving
f deposits of the Robson Count,
Loan & Trust Co. and to opel
n and continue a savings depart
h ment where interest will be pal,
= = on deposits on the usual terms
q By selling the new stock a
:, the actual book value of the OLE
stock on July LIST, 1909, (the tim
y. when the new stock is to be is
Il sued), the new stockholders wi
in pay for the new stock par, an
ID a sufficient amount to put ther
w on an equal basis with the oil
= stockholders. This arrangement
w is to the advantage of nev
!" stockholders, for the reason tina
E they come into the business wit
e. the advantage of having div
y. dends paid on their stock frol
=. the start, without the disadva1
~ tage of passing through the ur
%. profitable period consequent upo
ad the organization of a new banl
~ In addition to this, they get tn
If benefit of the long establishe
"a business and good will of tn
bank, without paying for it.
AS an evidence of what tn
bank has done since it's organic;
ton, the following excerpt
taken from the last annual r,
he port of the president, submitte
A to the stockholders on Janua1
IA last:
le- ''The Bank of Lumberton he
discounted, since it began bus
~ ness eleven years ago, 12,O(
or notes, ranging in amounts fro
p; $40 to $4,000 each. l hay
Ia made an estimate of the aggr
, nr gate of these loans for the eleve
AZ AZ years of business, and find tn
2 the aggregate of all loans MAJ
=: during our business career
fo 1 approximately seven million, fl,
~, ~ hundred thousand dollars. O
ms OF this large number of not
,av discounted, aggregating the lar,
go sum mentioned, we are able
bo report that not a single note h
nd ever been lost, or remained u
hot collected. We have paid O
Dr. in dividends since we beg;
on business 200 per cent. on t
nd capital stock invested, and tn
mo with the undivided profits M
int i, on hand, shows that we ha
1Le made in pet profits since we
thiS gan business, an average of
70. per cent. per year on the capt
aro invested"
rtv By. taking over the savir
INST deposits OF the Robson Coul
az Loan & Trust Company, and tt
,ks consolidating the deposits of t
rio, r;or two banks, a large amount
he ba deposits (the amount of
m savings deposits at the ii
bo of the last statement on A,
han 20 ,',;u - l'o2, oelng 9ol,8ol.,1
nen OF deposits of the Bank of LII
berton. This new business V
else greatly increase the volumn
v at business of the Bank of Lumh
mis-. &C. ton, and will enable it to Ii
tho after the interest of it's sto
face holders and depositors more S
noJ ceSSfully than ever before. T