The Richmond Virginian. (Richmond, Va.) 1910-1920, 1910-07-01
(. UNION Of BANKS
NOW EFFECTIVE
Four of Richmond's Leading
Institutions Merged
Into Two
THERE is MARKED RUSH
OF BUSINESS AS RESULT
Another Consolidation is Now
Under Way and Win be
Put Through-Branches
Z Taken Oven

-Four of Richmond's leading finan-
cial institutions became two banks FRI
hay.
The two institutions resulting from
the merger are the National State and
City bank and the National Bank of
Virginia. The former is a. combina-
tion of the National State bank and
the City Bank of Richmond, The lat
ter represents the merger of the Ma
ttonal Bank OF Virginia with the Bank
of Richmond.
Capital stock and surplus as we'll as
{ deposits Of the greater institutions are
consequently much increased as q re-
suit Of consolidation.
- The National State and City which
80 using the quarters Of the old Ma
tional State was confronted with
rush OF business Friday that kept its
clerks busy throughout the morning
and early afternoon hours. Similar
activity was noted in the spacious
quarters OF the Bank of Richmond
ut Ninth and Main streets, which is
: 10 be the home Of the greater bank
Il resulting from Its merger with the Ma
ttonHt Bank of Virginia. IN tic Old
quarters OF the latter institution. work
men were busy most of Thursday
might transferring thousands of dol
lars In cash and other assets and
blocks up Main street. Friday. the
OLD quarters presented somew hat de-
serted appearance, several signs being
displayed near the front entrance set
ting forth the fact that customers of
tho bank must no longer call there
to transact business
Stockholders Meet.
Stockholders Of the National Bank
Of Virginia met shortly before noon
kTidax n prafaTY q " - IL,
nection with taking possession of It's
new quarters and especially TO elect
several new officers and additional
directors
Additional directors chosen by the
National Bank Of Virginia were L. b.
ADDISON. Il. L. Bemiss. James n. Moa-
cure, William Northron. =. w Travers.
John SHELTON Williams, John T Wilson.
James @. TinsleS Carl, II. Noting
Stockholders OF the National State
also met about the same hour 10 put
the final touch upon consolidation
plans. Among the matters up before
them Is the question of electing six
new directors in addition to the nine
members of its own directorate, The
additional directors WITH he chosen
from the old directorate of the City
Bank
New directors chosen were Col w.
III. Palmer, Stewart Nj Woodward.
h. Addison and s. II. Halves.
The combined directorate then met
and elected the following officers. Col.
!W. III. Palmer, president. John y, AL
@lett. first vice president: " NJ hin.
second ce-president; j. w Sinton.
third vice-president; Julien II. Hill,
cashier.
These two banks are located
next door TO each other on Main street
Ettappnyf, al afr
and consequently the work OF moving
to new quarters was not so arduous
Ms that which confronted the National
Bank of Virginia.
Another merger which lis likely 10
be formally authorized Friday In that
OF the Bank of Commerce and Trusts
and the Capitol Savings Bank, stock
holders of the former bank being call
ed to meet at 1 r. NJ, to act on the
proposition. Specifically, the propo
sition is for the bank to increase Its
capital stock from 100000 TO $780,
000 to provide for the merger with
the other bank in which IL holds
controlling interest.
Forecast Comes True.
Announcement has just been made.
IN accordance with the Virginian's
forecast OF sev%ral days ago. that the
Commonwealth Bank VIII take over
the Twenty fifth and Broad and the
Fulton branches of the Bank Of Rich
mond. The other branch of this bank.
located ON Broad street near Third,
will be taken over by the Broad Street
Bank, as already announced.
Many thousands of dollars win pour
into circulation in Richmond as a
result of dividends declared by its
hank With the past week or two.
Following s-e the total of some OF
the dividends declared: First National,
100000: Virginia Trust Company.
100000: National State Bank. si1,5o0;
National Bank of Virginia. $4,000;
City Bank Of Richmond, Sl2.oao:
Planters National. $4,000. Bank of
I RichrnofSf.s $4,000; Merchants Ma
tional. $4,000; Union Bank of Rich
mond. s17,5so.