The Nashville globe. [volume] (Nashville, Tenn.) 1906-193?, 1909-01-22

these foreclosed mortgages and the
bank could own the real estate and
sell it at good profit Third, would
like to recommend that our bank do
more substantial advertising in some
way. think that quarterly state
ments should be printed and sent out
among the colored citizens of Nash
vile and vicinity. Fourth, l would
recommend that the stockholders hold
occasional mass meetings and talk up
the condition of the bank and it's
working intentions. A number of
people would take stock in our bank
if they knew the real financial stand
ing and par value of paid up capital
stock. To-day, if l am correct in my
calculation, every dollars worth Of
paid up capital-stock in the One Cent
Savings Bank has value of rs per cent
above par. that is to say, every dol
lars worth of paid up capital stock
is worth to-day, according to the
figures, at least $1.75. But if some
persons with money should buy up
a sufficient quantity of the capital
stock he could easily lower the pres
ent value Of the paid up capital stock
and share equally with the oldest
stockholders.
Our bylaws and regulations have
never been printed in pamphlet form,
notwithstanding we have had numer-
Gus calls for the same. This I hope
will be looked after at this stock
holders meeting.
Following this report Mr.. ]. G. Ma
pier the cashier, who has also served
in his capacity since the bank was
organized, made most timely adj
dress. Mr.. Napier declared that as
custodian of the peoples money he
had handled with care, with caution
and with that same degree of interest
as though it had been his own private
fortune. He stated that he, by special
agreement with his wife, had made a
solemn VOW when many people said
that the bank would run 80, 60 or
80 days and then close, others that it
was foolhardy attempt, that before he
would see the depositors, large or
small, loose one penny in the insti-
tuition he would willingly surrender
his own private fortune to them which
is the saving of many years. This re-
mark created most profound impress
sion. The cashier further stated that
he had wished time and again that
the people who had been refused loans
from time to time, because of the in
sufficiency of collateral that was Offer
ed, would put themselves in his posi-
ton as custodian and then they could
see it in another light. He stated
that he felt it duty incumbent upon
him to safeguard their deposits. At
the close, both the president and the
cashiers addresses were adopted. There
were two vacancies on the board of d.
rectors, one caused by the death of j. S.
Martin and the other by the moving
out of the State of w. D. Chappelle.
These vacancies were filled and the
following board of directors elected:
Lewis Winter, J. w. Grant, T. G. Ew-
ing, ]. A. Cullom, j. B. Bosley, R. F..
Boyd G. N. Langston, G. S. Randals,
Preston Taylor, R. H. Boyd, VIM.
Haynes, ]. w. Bostic, j. P. Crawford,
E. B. Jefferson, Geo. w. McKissack,
VIM Beckham, Henry A. Boyd, j. G,
Napier. The stockholders voted to
have an annual banquet, inviting
their friends to dine with them some
time this year After the stockhold-
ers meeting adjourned the directors
met. The meeting was called to order
by the president. The first thing in
order was the election of officers for
the ensuing year, which resulted as
follows: president, R. H. Boyd; vice
president, ]. w. Bostic; cashier, j. G.
Napier; teller, G. N. Langston. The
financial committee was elected to
serve during 1909 as follows: ]. w.
Grant, e. B. Jefferson, ]. G. Napier,
]. B. Bosley, R. H. Boyd. BY a unan-
imous vote the directors declared a
six per cent dividend which was the
same as that which had been declared
in each annual meeting The direc-
tors decided that they would recon-
mend that part of the presidents adj
dress which referred to putting $4,000
worth of stock on the market and
withdrawing the remainder 1t is evil
dent that within the next thirty days
the one thousand shares will be taken
up.