The Nashville globe. [volume] (Nashville, Tenn.) 1906-193?, 1912-11-29


PRlSING-ANNUAL MEETING OF
THE MUTUAL TRUST AND
LOAN COMPANY.
Special to the Globe.
GAINESVILLE, Tenn, November 20
Friday night, November %, according
to the call of the stockholders of the
Mutual Trust and Loan Company met
in their annual meeting at the Odd
Fellows Hall on Franklin street. Al
ter a few preliminaries, the vice
president, DR.. C. A. Kelley, was call
ed to the chair, and the president, DR..
Robert T. Burt, proceeded to make
his annual report as follows:
Mr.. Vice President, Stockholders of
the Mutual Trust and Loan Com
pany. Ladies and Gentlemen:
On the 9th day of July, 1909, this
little institution with an authorized
capital of S 5000 was organized, grow
ing as it did quietly out of our local
Negro Business League. However,
humble our beginning may have been
it was substantially permanent until
now | feel that we can safely boast
that we are almost, If not well upon
our feet.
| attribute a part of our success TO
not only our faithful board Of direc-
tors working harmoniously with 9th
err officials, but from the very out
set we have had the honor of inter
esting and holding the confidence Of
some of Clarksville's and Montgom-
cry County's best and most financial
colored men and women, as we'll as
men of influence and financial abili-
ty in other states.
They paid in their money without
the slightest indication of fear
as to its safety. And after we
had run just one year we found ut
necessary to increase our capital
stock from $4,000 to $4,000. From
the secretary's and t~reasurer's report
you will see that our dividends have
grown from $3.50 to $40 upon teh
capital stock, with an increase OF
stock paid in from $40 to $1,000 In
spite of some odds under which we
have had to labor.
We have not only paid our div.
dends in cold cash, but we have paid
, those who have drawn out on account
either of illness, leaving the city OF
other like circumstances dollar for
dollar, which means every dollar
they put in was paid back to them
, with dividends added. 1t will give
one an idea of the confidence when
state with some degree of pleasure
, that not <on has drawn out because
of fear of the safety of his money MOI
: being %disgruntled with the manage
/, ment, for many of those who already
carry stock are calling for more.
I hold in my hand a letter witt
check from our distinguished FRIEND
, and former citizen of this city, bu'
!, now principal of the High School o
!, Evansville. Ind, Prof. Robert L
, Yancey, asking me to apply it tt
: stock in the Mutual Trust and LOAF
u Company. I have before me anothe,
: letter from a member of the PatteT
{, son Buggy Firm, of Greenfield, Ohio
y saving, GAS long as my $25 "a maxi
4 as substantial per cent as the Trus
Company of GAINESVILLE has been abb
. TO give me, with the same degree o
> safety. use it and accept my congrat
= ulations with a wish for it's continues
success"
Gentlemen and ladies, the few do
lars which we have placed in her
o have not only made for us a fey
!, dimes, but they have fostered an
u helped to finance a little institution
{: which lets the outdoor world knoN
d that we are not dead. 1t is built
ing I'D an enterprise that will ult'
:, mately offer employment to youn
u men and women of our a
S Now, stockholders and friends, wit
all due respect to all that has bee
S said in reference to the amount tn
e company has accumulated, the div
e dends paid. to the safety of the finaT
cial management, ETC., in this n
feel, according to my humble judt
S ment, it has filed its great mlsslo
h well. We have not massed grea
sums of money; we have not attemp.
ed great speculations, neither hav
we paid officers large salaries bu
s we have kept e~verlastingly at it TO
e three years, we have in a humble an
o careful way steadily pounded way co
Letting together month after mont
I dollar here and dollar there and hav
6 let them out ON interest and like tn
s man given the talents we bring bac
5. to you tonight not only the talents
5. but more. But now, gentlemen, don
!, expect too much of us; remember 20
have given us but a few Of your do
k lars to work with; make allowance
e too for all of us being busy men
. our various lines of business and ar
4 using this as a side line. I shall nc
attempt to give figures just here a
the s%ecretary's and t~reasurer's repol
y will give them In full, but suffice
to say that II every stakeholder weT
g. to call for their money tomorrow h
could no Maid dollar for dollar.