New-York tribune. [volume] (New York [N.Y.]) 1866-1924, 1912-12-01

Alabama corporation, ana began It's ''''
yellously successful career in the spring
of 1908. The change to STATE cna iiaer
was effected that it might have wider
scope, and might do the mucn neeueu
business OF certifying bonds, OF acting rs
trustee OF estates. etc, although fesu-
lar commercial banking constitutes the
larger part OF its activltles. ..,
The original capital OF the CITY National,
10000. was increased to 100000 when the
change was effected. the ofncers ana u
rectors of the two institutions being ideil-
teal This increase Of capital mas peen
augmented BY over $4,000 in surplus
and undivided profits about one-haii Oh
the net earnings OF the oank sihce o.
ganzation. dividends consuming the othe'
half. -,
It's general policy and conduct mas peen
ia foster ALI enterprises that tend TO puiIl
Mobile: It's special feature 10 encouraSe
small accounts That its pubic SPIT,
and wise liberality have been appreciated
is evidenced by its huge lines OF deposits.
81 474 $50 81 q tremendous increase over
The 1904. that of sl.4l6.7si GO. ana IL Is
accumulated by the fact that over tWeise
thousand names Of depositors are 70 pr
found on the books OF its "commerclal,
savings" and trust" departments anu
bank accounts ITS active and effcient
directors are very much TO the lore ia
Mobiles business life. Its able stan con
! sists of Il. ]. Buck, PRESIDENT, RAT 81
Lyons, e-president: George A. IONS
meiere, vice-president: 4. 6. TonsineleIe'
cashier: Tom c. McCorvey. jr., and Eng
lish Cody, assistant cashiers, ana a. L.
Staples. trust officer.
Typifies Mobiles Growth.
There is probably no one institution here
which can be said 10 more nearly typify
this city's growth IN commercial impor-
lance in the past few decades IMAM ''e
PEOPLES Bank OF Mobile Ala. -.
ID In
and with the not inconsideraDle CAPITA,
for that day and time. OF NoO,vo. py
group of substantial business men, none
OF whom survive. ,-- .,,,,..a
business acumen and well conslderea en-,
terprise have at ell times been ulspIayS,a 49,.
in it's conduct: and so II mas puieuy
gained. year after year, in influence anu
afiluence. -,
To-day its line OF deposits represent the
great sum OF y2577, e53 30. and Us earned
surplus is we'll over NOO,0D
Nor have its stockholders ofsh cor, con-
PEELED to sit ever at a Barmecide feast.
that this surplus might be accumulateu'
For during many years they nave re-
ceived in dividends, per cent. then Tor
more years. II pei, cent, then 20 per cent
Do not those figures show healthy ano
q steady (eyen II most remarkaDlel
growth? Nearly million dollars capltai
grown out OF $4,000. and STOCKHOLDERS
purses repiefisheo Se"h-a""' w.
The steersmen OF this s,aunch financial
craft, its efficient directory comprises:
General j. w. Whiting. j. {. Busn'
James McPhllips, James Van antwerp
and James X. Giennon. all OF them lead-
ers in Mobiles business actlvlueS, 10
which they lend the same abilities that
have constructed and GUIDED thls so1o
growth OF the Peoples and Mobiles COM
mercial development. 49,
James w. Little Is the president. y. W.
Padgett the cashier. and A. j. whitman
the assistant cashier OF the Peoples.
Under Sagacious Management.
In 1901, four prominent citizens Of Mo-
bile. Messrs. l.. J.. Batre. ID. =. Bestor,
J. o. Dickens and Il. {. Fry, organized
as state bank-that thriving and ably
conducted institution, the Merchants
Bank. 10 do a general banking business.
Beginning with capital OF $4,000. II
has SO demonstrated its usefulness. IL
has 50 impressed upon the business com
munity the possession by its management
OF those sterling qualities, enterprise ana
liberality, coupled with sagacitN, that It's
line OF deposits have increased from
500 oD I'm 1894. 10 $4,000 al the present
writlng-the increase In the last year was
over a quarter OF "A million.
Its original capital has remained un-
changed, but now figures as less than
one-half OF real capital. Tor II now has;
additionally, In surplus ana undivided
profits tearned). slI0.i2s a. so that at pres
ent. SS2s, 42S A represents it, very substah-
tial backing.
The Merchants Bank invests only in
loans TO It's deposltors. il has paid divi-
dends 10 its stockholders every year since
the first. and now pays them at the rate
OF S per cent per annum.
Its officers and directors are ID p. Bes-
A.. 4 n-h Ia
capitalist: Louis Forchheimer, OF VI.
Forchheimer e. Co: Joseph VI. walsh.
president OF Walsh Stevedoring and Con-
tractng Company; l.. u. Batre, OF
Thames & Batre. T. +. Iadd. cashier,
and l.. c. Fry, president.
Pioneer Savings Bank.
The Union Savings Bank was founded
in 1902. by j. Leslie Taylor, formerly OF
the First National. with the co-opers-
ton Of James Il. Duggan, TO remedy
situation that worked 10 the detriment OF
the frugal p0or--the non-acceptance OF
tho accounts or small depositors by Mo-
bile banks
Organized with a capital OF 81 900. to
take savings I'm the shape Of deposits
from 81 upwards, II met with instanta-
neous success. and that success has led
the other banks To adopt it's policy.
The Union, after having paid iu divl-
dends, some 60 per cent. In the past ten
years, has $3.50 surplus ana undivided
profits, and, what Is more TO the purpose.
IL has over 800 deposltors.
IL is about to increase Its capital
greatly. and to add general banking and
trust features: but 1t will adhere To its
policy of encouraging the small depositor
and SO its great service to this community
viii not be leSsened.
Bankers and Brokers.
When the stranger visits this region
in a~personally conducted quest FOR in
formatlo concerning safe and lucrative
Investment, either In Mobile or in this
Gulf Coast territory. OF which it is the
predestined metropolis, he is most fire.
quently referred to a concern chat Of
Mccartney g. Schley), the elegant quarters
OF which are located in one of the clty's
principal streets, within easy reach of it's
financial centre. the building itself being
one or the most conspicuous features
thereof
Comparison being dinicut-as well az
odious-in the case OF city which boasts
as many sagacious and sound 6nancers
as does Mobile, it will be safest TO say
that this, among the foremost OF the in
vestment. insurance and real estate con
Germs OF this city. exerts a strong and
active influence In It's upbuildlng. and
plays no small part IN the conduct Of it's
greater business interests.
BY far the most important department
OF this firms business is the handling
OF securities. stocks and bonds and the
formation-and promotlon-of plans for