The Hattiesburg news. (Hattiesburg, Miss.) 1908-1917, 1914-05-16
FRANK FOOTE IN
'yf FOR DIRECTOR
Of FEDERAL BANK
FRIENDS OF HATTIEsBuRe BANK.
~ ER WORKING HARD FOR
HIS ELECTION.
)NILk HAVE this STATE
S0LIDLY BEHIND HIM
Splendid Fight at Washington and Re
markabIe Success as Head of FRS
National Bank of Commerce Urget
as Reasons for Choice to Big Post

Friends throughout the South of
Frank w. Foote, active vice president
of the First National Bank of Com
merce of this city, have opened an ag.
gressive campaign to have Mr.. Foote
elected a director in the Federal Re-
serve Bank, to be located at Atlanta.
The First National Bank of Com
NERD probably will be classed in group
two when the classification of banks !
has been completed This group, it Is
believed, will be larger numerically
than either of the other two, and as it
is probable that not more than one di-
rector will be elected from this group,
there is no doubt that Mr.. Foote will
have strong competition for the place.
Despite this fact, his friends believe
he will win, and they are wasting no
time in spreading throughout this fed
honesty and energy.
Splendid Fight at Washington.
Mr.. Foote'S successful fight against
the provision in the original national
currency law prohibiting exchange
p, charger which provision would have
worked great hardship on the smaller
banks Of the South, is one Of the chief
arguments that is being used in his
behalf.
He began this fight almost single
handed and alone, making several trips
to Washington and appearing before
the senate banking and currency COM
mittee in opposition to this objection
ablexfeathre. He was defeated in the
hous committee and on the floor OF
theFhouse, but his activities had called
the attention of the senators to his
argument, and when he continued his
fight in the upper branch won the bat
\ tie that saved hundreds of thousands o.
dollars for the smaller and medium
sized banks of the South.
\ Mississippi Solid.
Mississippi bankers will be practi
cally sold for Mr.. Foote. They realize
N that it is largely through his effort
and ability that the First Nationa
Bank of Commerce of Hattiesburg ha
. become the largest institution of 1t
hind in the state. inllthough severa
other cities have much larger popula
ton than Hattiesburg, no other ban
~ in the state has as great deposits, an
, the bankers of the state unite in gi'
ing Mr.. Foote Lnstinted credit for thi
unusual success. In new city, me-
country, and with capitalization nc
b, overly large, the deposits in this ban
n are fi,equently in excess of 100000
and id several years have never bee
less than $1,900,0O0.
r. While the bank with which Mr.. Foo
Is now associated will be in group on
he has been country banker all
his business life. His first banking
nerienee was with the Merchants
FARMERS Bank of Macon, Miss, whit
has been one of the most successf
hanks OF the stat and is now Tor
s,y, one of the strongest banks
- Mississippi. H came to HattiesbI
in 1895. at which time the F1rst-N
tional Bank of Commerce vas orga
n ,,od 90 stat .snk with capt.
" stock of only 900 During the
" nineteen years .ni1 p"hN n"' NN.
s4rc Srs.Gi. 7Ihlable gr' y N ana at INC p,os,
$ apita. surplus and undivid
about sA5O,OO0. and depos
l~ately two million dolla
" one of the strong
.tate.
barge majority OF the MI
,regional bank Of Alta
~ banks accounts for
hat is being expressed
banks for Mr.. Foote o
\, Being country ba
-3pnd all of his experie
in country banking hi
lned. his country bank
y{,ued on Page Four)