The Hattiesburg news. (Hattiesburg, Miss.) 1908-1917, 1913-01-18

better qualified hereafter to safeguard
the assets of the institution, and while
its rate of earnings will be less, its
/ losses will be reduced to the minimum,
and the net results should be source
of satisfaction to shareholders, and the
benefaction of security to depositors.
after the calamitous storm OF Sep
TENDER, 1906, the hardest trial Hat
tiesburg has ever had, which destroyed
some ten millions of dollars worth of
timber in this section, Hattiesburg
took a stand to fight for what she
had left, to hold her own, harvest her
remaining resources and not give back
to nature all that which she had wrest-
ed from her. Scarcely had the work
of saving and marketing such down
timber as was possible to save been
accomplished when the fearful panic
of 1907 fell upon us with fury that
threatened the very foundations of the
financial existence of this section. The
panic was a terrible blow. 1t took the
heart out of many and caused some
to fall by the wayside, brought about
immense actual losses on account Of
shutting down of industries, thereby
reducing revenues while the enormous
expense of living, taxes, insurance, in
terest and feeding livestock had to
continue regardless of income. causing
many to have to sacrifice what they
had and forcing on the people condi
tions of the most wasting character.
"Hattiesburg again took her stand
and fought to defend home and fire
side, capital and business and while
the weary days passed into weeks,
months and years, not once did the
community fail in its duty, and not
one important failure occurred in our
city. In time, after so much patience
and effort, the clouds began to break
and Hattiesburg again came into her
own, and once more feels that she can,
with safety and security, look upon
her past and congratulate herself up
on her present secure position.
During all these turmoils, trials
and tribulations this bank was the
. financial backbone of this section of
Mississippi It's ability to take full
care of its customers and make them
additional advances, gave courage to
it's distressed patrons, with the as
surance that it could and would see
them through, is largely what held
Hattiesburg and the surrounding coun-
try together. The officers and direc-
tors of this bank are justified to the
fullest in the course they pursued, in
that the bank had more than selfish
responsibility; 1t had the interests of
the entire community to safeguard.
1.-THE stock of the bank, for the most
part, has been held as investments OF
an incidental character. The bank has
never had any very large stockholders
There has never beena group of share
holders in the bank who held enough
SNOCk W tVOAIlOl Ill SioSSAoh' AhS
stock of the bank, has always been
held by great many people. 1t now
has 2f7 shareholders, showing how
widely divided the, stock yet remains
Most of the people who bought
stock in the banks Of this section have
done so simply to create banks as a
matter Of public and private conven'
fences and practically no bank STOCK
was bought in the way Of making an
investment to provide livelihood. The
shareholders Of the banks of South
Mississippi have been the people prin
cipally who have owned and controlled
the country. and they have, for the
~ est 4 e. go ss4t