The Nashville globe. [volume] (Nashville, Tenn.) 1906-193?, 1913-01-17
Annual Address of DR.. r. II. Boyd,
President of the One-Cent Savings
Bank, Delivered to StOckhOld-
erS Monday Night.

ness and forged ahead $24,47S.97
greater than we had aver done be-
fore; and in this, our banner year,
we have handled 4 5,436,90 more than
we have ever handled in any previous
year. Thus you can see that the
old adage is still true: Competition
is the life of trade" By having two
banking institutions in the city they
have brought in that w~eak-faithed
brother who could not trust his money
heretofore with Negroes, and who has
placed his money and taken parry by
buying stock and helped the other
bank. His confidence increased the
confidence of the other weak-minded
brother and he came to the One-Cent
Savings Bank and thereby the One
Cent Savings Bank was the benefc-
larry and got its share of the Negro
banking business.
l want to right here recall some
prOphesies | made to you at our sec
ond annual meeting. l made use Of
the following paragraph in my report
that year: Il regret to say, yet l
must give it as my opinion from a
careful observation. that the One-Cent
Savings Eank has not handled 20 per
cent of the banking business that the
Negro citizens of Nashville handle
any one year since its existence. If
this be true, and the pages of our
: ledger may be taken as an index, the
Negro citizens of Nashville handle
) more than ST. 800, 900 annually through
, banking institutions" The One-Cent
Savings Bank during 1912 lacked only
/ a fraction of handling a million dol.
: lars of Negro money through its bank
{ ing operations. If the Peoples Saw
D ings Band and Trust Company handled
1 an equal amount, and We are to pre-
e sumo that they handled more, for
e they have a larger amount of capital
q stock, you can see that my prophecy
g Of six years ago was fully warranted,
And now l predict that the time is not
f very far in the future when Negro
d banking institutions of Nashville
g alone will show bank clearings from
the Negro citizens of Nashville Of
l. from two and a half to three million
dollars ANNUALLY.
.e The following is the years business
of the One-Cent Savings Bank for the
year ending December 81, 1922.
e Moneys Handled by the one-cent say
ings Bank During Year 1912.
January, Deposits, $50, O94.S5
Checks, $36, 9 2 SO; Total for January
$66,1S7.S4 February: Deposits
$~22,S14.65; Checks, 2 ,731.11; totaI
ey $46,545.76. March: Deposits, $40, 1915
Checks, $~33,494.47; total, $73,S32,O;
April, Deposits, $685. O1. 95; Checks
Id $49,O31.25; total. $~76,633.2O. Ma!
Deposits, $2S, 1885; Checks, $29,O7
o. 40; total, $57,541.O4, June: Deposit
a $~4O,171.O2; Checks. $91, OS7.S7; tota
10 $71,25S.89. July: Deposits, $3S,379.OS
OF Checks, ~$4O,455.2S; total, $7S,S2S.3
81 August: Deposits. $25,7 TAI, 90; Check
SS4,122.59; total, 59,S64.5S. Septer
"a Der: Deposits, SAL AGO. q; Check
at S3~4,91S.SS; total, $S2.379O9. October
MS Deposits, S37,170.77; Checks, S4O,14
life 30; total, $77,312.05. Novembe.
to Deposits, $%90,147.55; Checks, 1889
in. 40; total, ~S64,0SS.04. Decembe.
IRIS Deposits, $37.927.34; Checks, 1905,
.O5; total, $~6S.54S.39. Deposits Graz
ms total. $412,S1O.62; Checks, toti
en- $40, 7O8.65. Grand total. $S32,019,2
nv Certificates of Deposit issue
he $7,662. 35; Certificates of Deposit wit
,se drawn, $2,2S7.35; total, S9,9497
er. Grand total, 1892, 96S.97.
SITS In the Cashiers sworn stateme
of o the bank examiner or Comptroller
ad the Treasury, he showed that we h
ere cash resources Of something ov
ere $4,000. But you will understan
,es gentlemen, that this banking instit
,ay ton has never counted in any of
adj banking fixtures which are indeed We
no valuable and are a part of the asse'
ire While we paid $12,500 for the Brov
in Building, and would not think of sc
In. ing it to-day for $4,000, the CASH,
en-. in order to show his accounts as me
ON estly as possible, put it in at $500
ice He had reasons for this and it is n
no necessary here TO discuss that. T
Directors have made arrangement
lev by which these will be counted
-et. also all stock that has been sold a
lad interest-bearing notes that have be
cir given will also be counted with o
ION general capital stock. Therefore.
in can say to you that the resources
In assets are to-day about $4,000. Hen
ON the little $1,000 in 1904 has grown
RS, to $4,000 in 1918, and the people W
emit trusted us with thousands then ha
in trusted us since with millions.
lde Gentlemen, in closing my remarl
ers permit me to state, that I have r
or given the time to the bank that
ere should give. The reasons are II
rs: this Is one of the five financial a
ent business institutions that l have
Di- honor of presiding over and to
mn come responsible for their fnanc
D." sailings. I close by saying to Y
CO. that my labor in all has been a lat
mn of love, and I think the Cashier "
an say to you that l have got my Fl,
ne-Y postal stamp to draw from this
tly stitution even to carry on its cor
ain spondence. MY n~inesyears work
of been for the confidence of my Mes
ON fellow-citizens in general and the bel
to fit of the stockholders in particul
i22. I now beg that you continue to tn
or this Board of Directors and make