The Nashville globe. [volume] (Nashville, Tenn.) 1906-193?, 1911-01-13

At the meeting Of the stockholders
of the One-Cent Savings Bank Monday
night, the reports of the President
and Cashier, which were made to the
stockholders, showed that this insti-
tuition had handled with in the past
seven years something over four mil
lion dollars of the peoples money.
The meeting was one Of the best ever
held in the history of the institution.
More than two-thirds of the capital
stock paid in was represented, and
much business transacted. The rec
concentrations as made by the Presi-
dent were authorized, one of which
was a declaring of six per cent divl-
dend, the other WAS the creation of
the position of Assistant Cashier
which when effective, will no doubt
mean the promotion of the present
teller, Mr.. G. NJ Langston.
All of the old directors were re-
elected as were the officers. The two
vacancies filled, which were caused
by the death of Mr.. j. B. Bosley, re-
suited in the election of DR.. ]. A.
Napier as director and the placing
of Rev. Preston Taylor on the Execu-
tive Committee. The Presidents ad-
dress in part is as follows:
The stockholders elected the follow
ing as directors: Lewis Winter, ]. w.
Grant, T. G. Ewing, G. H. Clark, j.
A. Napier. R. F. Boyd, c. N. Langston,
G. s. Randals, Preston Taylor, r. H.
Boyd, VIM. Haynes, j. W. Bostick, j.
P. Crawford, E. b. Jefferson, G. w.
McKissack, VIM. Beckham, H. A.
Boyd, j. G. Napier.
On motion the stockholder adjourn
ed and the Board of Directors meet
ing was DECLARED open for business.
The officers elected for the year
were R. H. Boyd President; ]. w.
Bostick, Vice-President; j. G. Napier
Cashier; c.. N. LangstOn, Teller.
Ladies and Gentlemen:
We have gathered in this room for
our seventh annual meeting. For
seven consecutive years l have come
before you on the second Monday
in January to give account of the
stewardship of myself and those as
sociated with me. On the second
Monday in January, 1908, this insti-
tuition threw open its doors to the
public with view of inaugurating,
or launching, Negro banking insti-
tuition. for the accommodation of self
respecting, Negro citizens Of this city.
The sixteen directors were a unit in
the opinion that it was not the OBJ
ject of the institution to make money,
but to gain confidence by showing
that Negroes could associate their
small earnings and savings and handle
them in such a way as to accomodate
the business public without losses to
themselves. The president, vice pres
ident, cashier and teller feel that we
have succeeded in doing this, and
have each endeavored to do all to the
best of our ability.
Therefore we have no apologies to
offer, accept simply apologize for not
taking greater risks and thereby ac-
cumulating greater dividends. 1t
might have been possible for us to
have taken these risks with safety
and increased your surplus and un-
divided profits but there was danger
of greater losses with no surplus, OF
even meeting the fate of some other in
stitutions and having our doors clos
ed. take considerable pride in stat
ing that our cashier and teller have
handled over the counters of this
little institution during the past seven
years, $4,246,302.11 and that every
dime of this money has been honestly
accounted for. | can not say we have
handled no bad paper; unfortunately
that we have very few time de
posits We, therefore. have only oul
paid up capital and undivided sur
plus to operate upon in anything like
we have had in our possession some
paper that has not been all we hat