The Nashville globe. [volume] (Nashville, Tenn.) 1906-193?, 1910-04-29
Special to The Globe:

Memphis, Tenn, April 25.-At the
fourth annual meeting of the stock
holders of the Solvent Savings Bank
the president and cashier made re-
ports that are great credit to the in
stitution. The reports show the con-
dition of the bank to be in fine shape.
The president in his annual address,
spoke as follows:
To the Directors of the SOlvent SGU~
ingS Bank & Trust Company, Greet
ing:
The end of the fourth year of our
existence as bank has just closed,
and I am pleased beyond measure to eX-
press to you my genuine satisfaction
with the progress our institution has
made during the past four years, due
mainly to the confidence exhibited in
our new enterprise and to our pa
tience to wait for results. l believe
our organization is a permanent fix
ture in this community, and / now
feel exceedingly hopeful for its fu-
ture.
The past year was the most success
full in our short history. Our depos-
its now aggregate nearly eighty thou
sand dollars-a big increase over our
first statement in July, 1906, which at
that time showed only a little more
than seven thousand dollars. With
the continued ratio of increase, as at
present, l hope to see our deposits
over hundred thousand dollars, and
from all indications l have every rea-
son to believe that they will soon
reach that amount. While our depos-
its have been increasing, our profits
have been doing the same. We have
declared larger dividend this past
year than ever before, and have found
it necessary to add another man to
our force, because the work is now
too heavy for two men.
It is not necessary for me to go into
any detailed statement concerning our
resources and liabilities, for that will
be gone over most thoroughly in the
report of our cashier. l would like
to call your attention, however, to the
fact that we have about fourteen
thousand dollars of unsold or treas
ury stock on hand, and l would urge
that each man present appoint him.
self a committee of one and try to help
sell this stock. If we get the remain
der of our stock sold, it will help
each one of us individually and the
bank generally. l say it will help us
individually because the larger the
capital the larger the profits, and the
larger the profits the greater the div
idends will be. The more stockhold-
ers we have the larger will be the
volume of our business.
might say here that since my last
report, we have been developing a new
line of business, that is, the handling
of estates. We have dealt with quite
a few, and found them very protita-
BILE to the bank, and the way we have
magnified them has been very encour-
aging to me.
l want to thank each member pres
ent most heartily for the support he
has given the institution and to me.
And especially do l wish to thank the
Executive Committee for their help
and encouragement.
| would recommend for your care
full consideration and action new
feature of business which l believe
would be of unmeasured benefit to
the bank, and to the community, and
that is the establishment of an in
surance company. Even a casual in
vestigation of this matter convinces
me that it is field of wealth and
profit, which we are losing if we do
not take some action of this kind.
Will the large population of Mem
phis and her neighboring territory,