The Pensacola journal. (Pensacola, Fla.) 1898-1985, 1914-06-14

1t long ago passed into an axiom
attic proposition that the progress and
prosperity of modern communities de-
pend more directly upon the excellence
and completeness of their banking
facilities than upon any other factor
that can be mentioned The great Sc
cret of the wonderful development Of
the business interests of our great
cities IS to be found in the unrivaled
effectiveness Of the work done by their
banks, trust companies, banking firms
and corporations.
And the intelligent readers Of this
paper do not need to be told that the
other financial institutions Of any Sec
ton of the country always tells pretty
plainly which way the business wind
is blowing. When, with ample capital
in hand, the aggregation Of surplus
and reserve funds deposits and gross
assets is shown to be constantly in
Creasing, it may be taken as a demon
strated fact that commercial and in
dustrial interest are expanding in the
particular field under consideration.
1t is an interesting fact that the ma
tional banking system is now growing
in public favor more rapidly than
ever. According to the latest report
of the Comptroller of the Currency,
since the approval of the Federal Re-
serve Act Of December $50, 1918, there
Of the Currency 233 requests from
State or private banks for blank ap-
pications either for conversion to the
national system or for the purpose of
the organization of national banks to
succeed such banks, as we'll as 179 re-
quests from individuals who are not
connected with State or private banks,
but desire to organize national banks.
During the month of May 10 appli-
cations were approved by the Comp
troller, II of these being for CONVEX
sion of State banks and private
banks. There are now 213 applications
pending.
During the same month "a banks,
with total capital of S7,355,000 were
authorized by the Comptroller to be-
gin business.
On May 31st, 1914 the total num-
Der Of national banks organized was
$50 OF which 1922 had discontinued
business, leaving in existence 1928
banks.
one of the latest additions to the
list Of national banks is the National
Bank of Commerce of Pensacola, Fla,
which opened for business on May
11th
This bank is No. 1885 on the off
Cial Roster at Washington, and it's
capital is 100000. There has been for
ttonal banking facilities in Pensa-
cola of the kind which this bank
seeks. So great is the confidence felt
IN the gentlemen who are identified
with the undertaking, that this bank
is certain to become a great and in
fluential Florida institution. Pensa-
cola is a city Of about so, 600 inha BIZ
tants, and with the opening of the
Panama canal its business interests
are bound to grow at a more rapid
rate than ever before.
In the work that is to be done in
Of
Commerce will undoubtedly take a
leading part The management of its
affairs is in exceedingly strong hands,
Mr.. r. w. Goodhart being president
and Mr.. E. R. Malone cashier The
board of directors is made up as fol-
lows: Jno. A Merritt, Frank Whit
ney, J. G. Pace, Joseph Levy, J. B.
Perkins, J. H. Smithwick, ]. H.
D'Alemberte, r. ". Goodhart. G. H
Malone Max L. Bear, J. B. McNeiu F.
r. Malone, Geo. A. Berry, NJ. A
Quina, T. a. Jennings, J, Frank Tay-
Ior. A. F. Warren, Geo. p. Went
worth, NJ ]. EIkan. c. E. Hutchinson.
7. E. Mobiles. W. D. Owens, Jr., R E