The Hattiesburg news. (Hattiesburg, Miss.) 1908-1917, 1911-04-12
fine SHOWING
MADE BY TRUST
COMPANY HERE
ENTHUSIASTIC MEETING OF THE
STOCKHOLDERS HELD TUES
DAY AFTERNOON.
$4,000 EARNED DURING QUARTER
Deposits Show a Marked Growth-No
Bills Payable, Or Rediscounts-
New Directors.
$4,000 EARNED DURING QUARTER

The most enthusiastic meeting of
the shareholders of the Hattiesburg
Trust & Banking Co. since the organi-
zation of the institution, was the an
nual meeting held Tuesday afternoon
in the directors room. There was
good reason why this meeting should
be harmonious and enthusiastic, for
the financial condition of the bank
was never SO good as at present, and
no three months in its history had
shown so marked a growth, or so
prosperous a situation as the past
quarter. Among other items, the bank
had earned in excess of S5,000.00 net
during the quarter; it's deposits had
shown a marked growth, and it had
no bills payable, or rediscounts. How
ever, glance at the comparative
statement published in today's News
will give exact information along that
line.
At the meeting the regular business
of the organization was satisfactorily
transacted. Mr.. G. G. Woodard, the
efficient assistant cashier, and DIR.
Cowart of Bond, Miss, were added to
the directory. Brief, encouraging and
enthusiastic talks were made by share
holders, and the open Letter Of
President Camp and Cashier Love was
read by Mr.. Love. This letter ap-
pealed so strongly to the shareholders,
and sounded so truly the keynote of
the policy of the bank, that it was
the unanimous request that it be given
publicity through the columns of The
News and it herewith follows:
ITO the Shareholders of the Hatties-
burg Trust & Banking Company:
THE officers extend our personal
greetings to you stockholders at this,
the Fifth Annual Meeting of the share
holders. We wish for the health, hap
piness and prosperity of each member
of this institution.
1T is with great deal of pleasure
that We hand you per cent quarter
ly dividend on the stock you hold in
this bank. Our earnings for the past
quarter have been good, being little
more than s5,000.00 net. OF this
amount your directors voted to pay
81, 100000 in dividends at this meeting,
and ordered the balance, 100000, to
be placed to the undivided profits ac-
count. --sf
1--WE refer with pride to the state
ment of the Banks condition at the
close of business, April Sth, 1911,
which is the usual annual statement
rendered the stockholders. We feel
that we are justifiable in calling your
attention to some of the strong points
in this statement, and to the favorable
comparison with statement made at
our last annual meeting.
"Our deposits are practically $780,
10000, showing an increase over last
years statement of 141,54000, while
during the corresponding time our
loans and discounts increased only
s42, 2,475.00. A conservative rule in WELL
managed banks is not to let the loans
and discounts exceed the deposits.
Our deposits now are nearly $780,
100000 more than our loans-a very
attractive feature of this statement.
1--WE are carrying a large cash re-
serve-s9S, 900. .00-or 25 per cent Of
our deposit account. The national
bank laws require a Is per cent re-
serve in banks located in cities the
size of Hattiesburg, and 25 per cent
reserve in larger cities, or what Is
known as reserve points or money
centers. Our cash reserve of 25 per
cent meets the full requirements of the
national bank statutes governing the
larger banks. This large cash reserve
makes this bank well prepared to take
care of all the demands made on the
shortest notice. In addition, the $685.
10000 we have invested in lumber In
voices is considered the best OF quick
assets, and can be realized on prompt
lily in time of need. This, then. togeth-
er with our cash on hand and in banks
makes total quick asset OF &163;
Continued on page slght)