The Birmingham age-herald., 1912-01-10


 succeeding Major John D. Elliott, who has been president for five years. The directors also elected William T. Latin em, vice president, and J. w. Hughes, Jr. cashier
 The change in the personnel of the management of the Commercial State bank came as a surprise in banking circles. After the Commercial state stockholders had held their meeting It was announced that MT Adams and ms associates had secured majority of the stock of the Commercial State and that the foregoing officers had been elected. A subsequent statement was issued to the effect that Major Elliott would be member of the board or directors, but would devote most of his time to other interests.
 The directors elected were w. l. Adams. G. w. Bains, Evans J. Dunn, J. W. Hughes, Jr., "A. R. Moody, George McCleery, F. L. Schillinger, Dr. D. F. TalIey, G. w Yancey. John D. Elliott, w. W. Brandon, W. T. Lathem. The members of the board of direc- tors are those heretofore serving with the exception of Arthur R. Moody and William T. Lathem. MT. Moody is a business associate of President Adams, while MT. Lathem is vice president Of the bank. After the meeting, NIT. Adams said that his associates intended to increase the capital of the bank from s62,000, it's present figure, to $1Oo,- 900 just as soon as that could be ar ranged and the work carried out. He also said the scope of the bank would be widened and that an aggressive policy of getting new business would be started at once.
 ..The new interests of the Conner cial State bank will increase the capi- tai to s1O0OOO at once announced President Adams yesterday after the meeting. We believe that Birming ham. is fruitful field for aggressive banking institutions and we hope to interest business men and others in our work
 Major Elliott, who has capab1y ham dIed the affairs of the bank as presi- dent since it's formation in 1906, will remain with us as director, but will devote his time in the main to other interests"
 w. J. Jack" Adams, who becomes new bank president, is one of the pest known merchants in Birmingham. He is of the Adams Drug company, and with A. R. Moody has been operating that business for many years in Bir- mingham. He is held in high esteem in the business world
 William T. Lathem, who became vice president under MT. Adams, was for over IS years with Henry B. Gray of the Peoples Savings Bank and Trust company before that institution was taken over by the American Trust Mr. Lathem is one of the best informed bankers in Birmingham of the younger school and is considered a most val uable officer.
 J. w. Hughes, Jr., was for many years at the postoffice. He is a son of pr. J. w. Hughes, former postmaster of Birmin gham, and is also widely known in Birmingham. The Commercial State bank now situated on Twentieth street and Third avenue will at least tempo
 rarily retain that location.
 American Trust and Savings Bank | The annual meeting of the stockholders of the American Trust and Savings bank | was held at 5 clock yesterday. This was the first annual meeting of the stockhold- CTS since the capital stock of the institu- | ton was increased from s20O,0o0 to s50o,- oOo with surplus and undivided profits of | sge6,00o.
 l President w. w. Crawford's statement,
 submitted to the stockholders. was quite | hattering, showing as it did that the | year 1911 had been the most prosperous
 one in the history of the institution. President Crawford reported total de-
 posits of $I,leo,352.1G with cash on hand and due from banks, sl,2s4,214.os, the total deposits showing an increase for the year of s1,c05. .9OS.S5.
 The most important transaction of the year. as shown in the presidents re- port, was the beginning of the erection of the American Trust and Savings banks new 20 story bank and office build ing. which is well under way and will be completed by the first of next August, and with more than 60 per cent of the rental space of the building already con tracted for. The bank will occupy the
 
 the public vestibule of the building; and the building, when completed, will be the handsomest structure in the south and ireproof In every detail. The entrance to the banking room will be both from the corner and the public vestibule of the building, and the ceiling of the banking room proper is 27 feet in the clear with 16 feet of public lobby for the accommoda- ton of it's many patrons The vaults will be of the largest size and the most mod ern construction, and the large safety deposit vault for the convenience of the public will be located on the main bank ing room floor. so that every convenience will be afforded the public for quick dis ratch in the handling of their already large patronage.
 The following well known gentlemen were elected directors to serve during the year 1912: G. B. Mccormack. M. W. Bush. F. c. Shook, Eugene Fies, J. H.