The Richmond Virginian. (Richmond, Va.) 1910-1920, 1911-01-14
SPLENDID SHOWING
Of RICHMOND BANKS
Financial Institutions Show
Wonderful Growth and
Successful Business
LARGEST DIVIDENDS
IN ENTIRE SOUTH
Twenty Percent the Highest
Work, While all do Well
Assets of the Baby Bank
Double in Year


Richmond is justly proud Of tn
splendid banking institutions. and the
banks are highly pleased at the ex-
cellent results OF last years business.
Few, If any, cities in the South have
a larger bank capitalization than
Richmond, and in no city anywhere
are it's financial institutions any safer
or stronger than in the capital oE
the Old Dominion.
Business IN all the banks had &
steady and growing business during
the year just closed. and the larreeu
dividends ever declared In Richmond
were given stockholders on the firnr
of this year, Not only was the iaryesC
amount of money ever given. paid ouU
January /, 1911, but the largest DIV
idend per cent. The total amount OF
money paid out was over quarter
of a million dollars In dividends bur
two of the banks declared . dividend
OF 20 per cent, while one bank paid
out in dividends s50.000-being the
largest amount ever distributed ax
one time by ona declared dividend or
any bank in the South.
Several Changes Made.
There were several changes in the
banking firn1s during the year. the
most notable being the consolidation
OF the National State Bank with the
City Bank OF Richmond under the
name OF the National State and Ctr
Bank: and the merging Of the NA-
tional Bank of Virginia with the BanA
OF Richmond. the old name Of M
tional Bank of Virginia. being retain.
ed.
The Bank of Commerce and Trusts
and the Capitol Savings Bank were
also consolidated, the merged instifv-
ton retaining the name Of the for.
mer.
The First National Bank buildtnu
was wrecked September 81. the easa
wall caving in as a result Of the e.
cavation for the giant skyscrnpsr be-
ing erected by the Travellers Insur~
ance Company. The accident happen.
cd at night a part of the front wall
falling In as well as the side wall.
The property OF tho bank was now
ed to the building at the corner Of
Eleventh and Main streets, and tho
following morning the bank was
ready for business In it's temporary
quarters a. the regular banking hour
of o'clock. The wrecked building
was repaired and the bank moved
back into its old quarters the lattuE
part of December.
Americans Handsome QuarnrrA
The American National Banks
last year, when the American Bank
building WAS added to and made
twice as large as originally constructs
ed. This bank got into its new quar-
-ters December -. 1910. and has per-,
haps the handsomest bank offices Of
any institution in the South.
There, Is a strong probability that
the First National Bank will be be-
hind a movement this year that Will
result in thee rection OF the btgYesr
office building in the South, o giant
skyscraper twenty stories high. Ii
which will be located the offices Of
the Chesapeake and Ohio Railway
Company, the Richmond. F'redericka-
burg and Potomac Railroad Company.
the Chamber OF Commerce and the
first floor Of the structure Will be used 4
as the banking apartments Of thIs
great financial institution.
Banks In Fine Condition.
The excellent condition OF the Rich.
mond banks Is attested in the geners
Gus dividends declared the first OF the
year and the fact that every national
bank In the city. at the annual meet-
ing of the stockholders held January
10Th, reelected all of the old ofiicers
that so successfully guided the finan-
cial ships during the past year. III
The only change made In the ON
cial forces of the banks was the coma
pliment paid Richard Fl. Smith,
cashier OF the Planters National Bank
for go many years. Mr.. Smith Was
unanimously reelected to his old or
flee. but in addition he was made =
vice-presdent No bank official In
Richmond Is more justly popular than
the cashier OF the Planters National
Bank.
First National Bank
President Purcell of the First Ma
tional Bank submitted an interestfne "a
paper at the stockholders meeting.
II showed that the bank has q cApl-
tai stock Of $1.000.000, and surplus
OF 100000. During the year the
profits were s345.071.s4 and 100000
was paid in dividends to stockhoiders
$4,000 July /. 1910 and $4,000 JAn& u
uary / 1911. These are the lxrYeyt
amounts ever paid by a southern bank
in dividends at one time
The undivided profits of the bank
January !, 1911 We're s6s,32s.<S. Tha
steady volume of business OF the bank y
Is shown in the comparison Of asBotm
for the past three years. DecembeEs9
81. 1908. the assets were $s.353,761.te.
1909. s9.637,666.S2, and December 81.
1910. s10,500,s $40. 20. s
s Planters National Rank
The report OF the Planters National
Bank to its stockholders <iiectosoa a. sss
wonderful success Of that inDtitutt6l ss
In 1910 the hank declared Z dtvidel<{1 II
of per cent. in excess OF 1903 as1<IsS
the 1909 dividend was per cen&s liz
greater than 1905. 1t win thus o kk
seen that In the past two years tiQ8
dividends have increased q per cent. III
The bank last year paid TO seoc1
holders 20 per cent. dividend. wh1e a
has never been eQuaied BY but oa
other bank In Virginia
The net profits OF the hank fX3
1910 were $I55,0s6.S4. III NJ
The statement OF the hank Jan1 d
l, 1871. shows q capital stock ofl 314~
coo; surplus and profits. 3l,1Ss. lAxS
Merchants' National Hnn1t. SIS u
At the close Of business Ja4N6f3S
1911. the Merchants Nafi0aMt
showed 4 capital stock ~ I'm