The Nashville globe. [volume] (Nashville, Tenn.) 1906-193?, 1910-08-26

Palm Garden, n. Y, Aug. 20.-With
the close of the third annual session
Of the National Negro Bankers Asso.
citation, which has been in session
here in conjunction with the Business
League, the most profitable financial
meeting ever held has gone into his.
tory. More than three-fourths of all
the Negro banks in operation in the
United States were represented at this
meeting not by proxy but by actual
delegates. The results of the meeting
promise to be most significant and to
bear greater fruit than any other an
nual gathering held in the United
States in decade. 1t was a gather
ing of representatives, who put their
heads together and represent more
than S2,000000.00 of authorized CAPT
tai stock. These men guide the desti-
MES of institutions, whose approx
mate clearings for 1910 will reach the
astounding figures of possibly 100000,
600, a sum sufficient, if handled sys.
dramatically, to financier every Ne.
gro business enterprise suffering for
financial support in the United States.
The National Negro Bankers Asso
Ciation, as it is termed, represents
more than this in the financial world
1T means that these men have so
managed their home concerns, which
have been so Individually successful
that a new avenue is about to be
opened up by which much more can
be accomplished. The truth of the
matter is that a Central Trust Cor
poration with headquarters in. New
York City, a $5OO,OOOOO capital for
Central Bank, was practically
launched at this Bankers Association
Every Negro financial institution IN
the United States, whose representa-
tive was at this meeting, went home
with the avOwed purpose of making
favorable reports, which will mean the
actual opening OF the Central Bank
here in New York.
The Central Banking Idea as
brought out at the meeting, which
was discussed for more thN1 two days
does not mean. according to the pro
moter's idea, that it comes TO the res
cue of weak and tottering concerns,
but that it will come upon the scene
to act rs trustees guardians and rep
resentatives Of these banks. individu-
ally and collectively, in the East. 1t
is not denied that the Negro bankers
have been up against hard proposi-
tion, for they have had no one to in
ltroduce them into financial circles or
10 the money markets of the world
The result of this new movement can
be best expressed in the language If
Roe, the famous novelist, who wrote
Barriers Burned Away" This is not
all that was accomplished at this seS-
sion of the association The unani.
NOUS endorsement of the Negro Bank
Directory and Guide, which was put
before the organization by Henry A.
Boyd, of Nashville, Tenn, who puf-
poses to bring out early in February
Of next year the first complete direc-
tory and guide in book form that was
ever offered, was a matter that went
down for consideration.
The election of officers was signifi-
cant, because of the recognition ac-
corded to, practically, every state
where banks are represented, so far as
location is concerned. Then a general
mixing and Introduction together
with congratulations for the state Of
Illinois for bringing in a second tinan-
cial institution, closed most harmo-
nious session. Little changes were
made in the official directory, the only
noticeable ones being the electing OF