The Pensacola journal., 1914-11-29

Jdlludl Meeting. q
Tomorrow. November 30 after a
temporary suspension OF three months
lacking one day, the American Nat
ional Bank will reopen its doors for
business under a financial organization
which, in point OF actual cash re-
sources, as compared with the size of
the bank itself, probably makes 1t tha
strongest banking institution in Flor
ida.
OF the 554 national banks that have
suspended during the history of the
national banking business, but %
have ever reopened and the American
National Bank will be the 26th.
That the bank is able to reopen now,
and under such unusually favorable
circumstances, must be ascribed to tho
fact that it was entirely solvent when
it closed, that it commanded the good
will of the public even during It's
misfortune, and that the men who have
accomplished it's reorganization Them
selves command the confidence OF the
people TO a marked degree.
In fact. such was the confidence OF
the business public in the American
National Bank, and in the men who
now stand at it's head, that the neces-
sary stock issue Of $150,00O was over
su oscribed and the bank actually had
more money rendered for it's reorgan-
ization than it had stock to issue.
Tomorrow the American National
Bank will open with over $500 900 or
actual cash on hand and in banks
and with deposits aggregating $1,229,-
| oO0, of which only about 100000 ia
now payable on demand, the balance
being time deposits for three six nine.
/ "a .af
! tors reorganization agreement.
THE OFFICERS.
The officers OF the bank will be az
| follows:
President--Jas. G. Pace.
! Vice President and chairman OF fl
nance committee-Morris Bear.
! Acting Cashier-Jas. w. Andrews.
! Directors-W. II. Northup, f.. A.
! Vinson, JAS. G. Pace. Morris Bear $.
Pasco. Jr, d. Kugleman, Geo. u.
| Wentworth, and JOS NJ. Levy.
! It was the original intention to
| have a much larger directorate, and
the latter will be enlarged at the an
nual meeting in January. 1t was i'm
| possible to make the directorate larg-
! er now owing to the fact that the bank
! is still operating under it's charter and
business organization OF the past year
/
| be increased except at the regular
meetings as provided by law. Among
| those whose names will be considered
| for the additional directors in January
are S. A. Afford, DR.. w. G. DeWberrys
| r Leon Jones, u. S. Oppenhiemer,
! and John Fl. Pace.
| The position of cashier has not been
! filled, but it will probably be filled In
the near future. The position is
most important one requiring If posi-
+, BILE the services Of a practical and eN-
perienced banker, and the directors did
| not wish to take hasty action. Jas. w.
! Andrews who was assistant cashier
| under the old organization and VINO
is thoroughly in touch with the details
| of the banks business, will be acting
| cashier until a new man is selected.
| Mr. Andrews is not only efficient ana
| able, but he has scores Of friends who
| will be glad to do business with him
| at the bank again.
TWO STRONG MEN.
The new president, Jas. G. Pace, ia
one Of F1orida's Wealthiest citizens
| and business men. He IS the owner
OF a vast tract Of land In Santa Rosa
County and Of large interests IN Es-
Gambia County. He has built up his
fortune and his business by conserva-
I tive methods and by the open, straight
forward, and honest business dealings
that are characteristic OF his in
tegrity Of mind and purpose. lie viii
| constitute pillar Of strength to tho
institution in which he becomes tho
guiding spirit.
Morris Bear, vice president and
chairman of the finance committee, is
one OF the best known business men
in Florida. He has in his own personal
affairs demonstrated a capacity for
business that few men possess, and the
size and solidity Of the Lewis Bear
Co, of which he IS the head, demon
strate In themselves the ability which
makes Mr.. Bear so valuable factor
IN the reorganization and future Of the
American National Bank.
Two stronger or better men FOR the
great enterprise could not have been
found than Messrs. Pace and Bear and
the name Of either BY itself would DO
sufficient to establish the institution
in the confidence of the business pub
lie.
G. w. Lamar, former president OF the
bank. while not officially connected
with the reorganized institution, viii
assist the officers for time at least