The farmer and mechanic. [volume] (Raleigh, N.C.) 18??-19??, 1914-05-12

cashier. The directors are:
Thomas II. Briggs, Edward
Pace, J. William Bailey. A K. u.
Johnson, John A Kemp, Thomas .
and Alfred Williams, with Mr..
S. Brown Shepherd, attorney.
The Raleigh Savings Bank and n
Company.
The Raleigh Savings Bank n
Trust Company, n of the Oldest n
best known savings banks in the
state. was incorporated in the year
and commenced business May
IA. 1887.
The first directors were ]. j. Thorn
as. Julius Lewis, V. E. Turner, A. Ro-
senthal. W. J. Hicks, George II. Snow.
G.. D. Rand, B. r. Harden and ". c.
Stronach.
The bank opened for business in the
store now owned by Mrs. V. E. Tur-
ner and occupied by the Misses Reese.
The first deposit was made May Ii,
1887. and has never been withdrawn.
Cant. J.. J. Thomas became the first
president of the bank, was succeeded
by w. c. Stronach, who continued in
office until his resignation, when John
T. Pullen. who had been cashier Of
the bank since it's organization, was
duly elected. On his assuming the
presidency, Mr.. j. o. Litchford, who
had also been with the bank since its
commencement, was elected its cash
Ter. In November, 1905, came the
tragic death of the late James ..
Litchford, and on February IT, 1906,
Charles Root was elected to succeed
him..
In the early part of the year 1910
the Citizens National Bank acquired
the stock of the bank, thereby adding
to it's growing financial strength n
popularity. Upon a reorganization Of
the bank the old officers were retain
ed and the name changed to the Raj
eigh- Savings Bank and Trust Com
pany. On May 8, 1913. John T. Pull
len passed to his reward. beloved and
respected by all, and Joseph G. Brown
was unanimously elected to succeed
him.
The growth and development of the
bank is more clearly shown by the
figures taken from the first statement,
the bank on May 8. 1914:
1887, deposits, $17,703.46; 1914,
s1,O31,254.45. 1887, investment. s19,-
602.55; 1914, investment, $944,O74.OO.
The success OF this bank shows that
it is one which has commended it.
self to the people.
Mechanics savings Bank.
The Mechanics Dime Savings Bank
was the Incorporated name Of the
present institution known as the Me
chanics Savings Ban The charter
was issued in 1896; At that time the
officers were: c.. E. Johnson, presi
dent; B. R, Lacy, cashier; Walter:
Durham, teller. The changes Of re
cent years lave been made to the eff
feet that Mr.. Walters Durham ha'
succeeded Mr.. B. r. Lacy as cashier
Mr.. Charles =. Johnson is assistan
cashier, and Mr.. James Bynum j
teller.
The institution is purely and strict
~ a savings bank. 1t occupies tn
building originally built by the Stat
and occupied by the National Bank o
Raleigh.
At the present the capital of tn
, Mechanics Savings Bank is $4,000,
and it's surplus $4,000. Fou
to one is offered for the stock. Thi
!. institution has since it's OrganiZatiOt
: been conducted along the most con
sentative banking principles and ha
: been a prominent force in the bank
r ing world Of institutions of Raleigh
l Raleigh Banking and Trust COmpan!
4 The Raleigh Banking and Trus
Company, whose building is one Of tn
very handSomest in the South, bega
= it's career in the financial world q
the Raleigh National Bank.
The Raleigh National Bank, til
e first national bank in North Carolin;
was organized in july. 1865, and e.
tablished in the building built for tn
State Bank in 1861 and which occl
t pied the southwest corner of Fay
e etteviile and Hargett streets.
The life of a national bank is tWer
e ty years, so in 1885 the Raleigh M
tional AMI wound up it's affairs, pal
all it's surplus profits to the stool
holders, and started a new bank, TT
National Bank of Raleigh. This als
a ran for twenty years, and in 1905, tt
surplus and accrued profits haviT
n been divided among the stockholder
the National Bank of Raleigh w;
succeeded by the Raleigh BankiI
n Trust Company.
\. The first officers were: G.. II. Be
vim, president; c. E. Johnson, vic
i president; T. H. Briggs, cashier;
S, Il. Undertake, assistant cashier
?. 1907 President c. H. Belyin was su
ceeded by Col. Charles E. JohnSo
who is now president.
k In 1911, the old bank building W;
1, torn down and the present structu