The Nashville globe. [volume] (Nashville, Tenn.) 1906-193?, 1909-01-22
STOCKHOLDERS ANNUAL MEET.
Continued from Page H.

1t will be noticed that the total
clearings tor the fiscal year ending
December 31st 1908, are 1868, 94S,25 as
against S649,00S.53 for the year 1907.
This shows to our great establishment
$14,939.72 increase over our last annu-
al report, Notwithstanding the year
1908 has been known in financial and
business circles as year of financial
stringency and business depression.
We cannot think of saying that this
large increase in business was caused
by the plentifulness of money among
Negroes, but we must contribute it to
the increased confidence that is grad
ually growing upon the people by
watching the careful financial man.
agement and executive ability dis
played by our efficient cashier and
executive officers.
Another encouraging sign If you
will again examine the monthly clear
ings you will md that the report OF
Dec 81, 1907, shows that the deposits
only exceeded the cheeks by $S9.09,
while the report of Dec. 81, 1908,
shows that the deposits exceeded the
checks by $1,440.2S, thus showing that
as confidence increases the long de-
posits and unused money increase, or
it shows that Notwithstanding the
wonderful and pressing financial strin-
gency and business depression the Ne
groes are being taught by the One
Cent Savings Bank frugality at the
rates of more than $1,5OO00 annually.
THE MISSION OF THE ONE CENT SAVINGS
BANK.
Each stakeholder that has attended
these meetings will possibly recall
some remarks in my first annual ad-
dress; il so, you will remember that
/ carefully stated that it was not the
mission OF the One Cent Savings Bank
TO speculate or make money either
for the stockholders or the officials.
Our officials are paid no lucrative sala-
resin fact, it is labor Of love.
The One Cent Savings Bank being the
oldest Negro banking institution in
Tennessee and for a time the only
one, it was and still is the mission of
this banking institution to accomplish
or teach two important lessons:
l. Frugality among it's customers.
2. Confidence OF the race in itself.
While l readily admit that this, the
only Negro banking institution in
Nashville, does not handle ten per
cent of the bankable money and cir
culating finances of the Negroes of
Nashville, yet it is something to boast
of when we can say and show by cold
figures that a few Negroes have con-
fidence enough in each other to select
officers and entrust with them, to be
handled at will, $66S, 948.25. 1t is
true if the Negroes Of Nashville and
vicinity had the confidence that they
should have in each other and had
the amount of race pride that they
should possess, this would be six mil
lion instead of six hundred thousand
dollars. However, l am an optimist
and look forward to the coming of a
BETTER day; and whoever lives to at
tend the Goth or Both anniversary Of
Negro banks in Nashville, If the same
judicial caution and honesty contin-
ues to be practiced, will see, hear and
read of Negro banking institutions
making annual reports Of as many
millions in its annual clearings as it
now reports hundreds Of thousands.
AS much as l regret 1t, it is never.
theless true, that the very people who
should patronize Negro banking in
stitutions do not as rule do So
They seem to have either a lack of
confidence or prefer the polite treat
ment given them by white clerks In
banking institutions. However, If we
are doing nothing else but causing
the clerks in white banks to treat the
Negro more politely, this of itself is
proving to be a great work. Yet there
are nu@ber OF large wiaats banks