The watchman and southron. [volume] (Sumter, S.C.) 1881-1930, 1914-12-30

ana COusistont Service In the Up
belidil,g Of the Community.
From The Daily Item. Dec. "a.
On November 27th the directors OF
the Bank Of Sumter decided to take
the necessary steps to convert that in
s,itution into national bank and to
become q member Of the Federal Re-
serve system. Application was imme-
diatsly made and then ehings began to
r,ove. A national bank inspector was
promptly sent here to make the usual
thorough and searching investigation
VI tho business and condition Of the
hank and this work was pushed to
completion with all the expedition
Consistent with the Importance and
magnitude Of the task. The inspection
was completed and the national bank
examiner compieted his inspection on
the 18th instant and forwarded to-
Warrington his final report. On the
21st instant the directors Of the bank
met and voted Ia, convert the Bank of
Sumter into q national bank under
the name Of the National Bank Of
sumter. Of Sumter. 9. C. Yesterday.
the asrd. instant. the following tele-
gram was received:
washington. Dec. 20, 1914.
Richard I. Manning. President. The
National Bank Of Sumter. Sumter,
8. G..
The National Bank Of Sumter. Num-
bsr 1os7o. authorized to commence
business. charter mailed. change books
and open as national bank on receipt
Of this telegram.
John SHELTON williams.
..fg'' Comptroller.
This contaminated the conversion OK
The old state bank into u national In
stitution. and IN the time required to
make the change II Is believed to
have been n record under the exist
:{Ag conditions when 50 many State
pnks are applying for national char
t>sS IN order to become members Of
IL national reserve system.
II .is stated that the national bank
sxsmAner who inspected tho bank
found the condition and business af-
fairs Of the bank In n most satisfactory
sna heaithy>cspeation and that there
Wa. on this aocodhi. delay in put
ting through the application Of a ma
tional charter in tho shortest time
possible.
rs Tho Bank Of Sumter. now the Ma
tionai Bank of Sumter, is the second
oldest banking institutions In this city,
the First National Bans, having been
organized under tho name Of the ST.
monds National Bank St Sumter about
. year prior to the organization Of
the Bank Of Sumter. The Bank Of
Sumter was formally organized on
January %th. 1859 With a capital stock
Of $4,000. The oAicers were Presi-
. dent w. r. b. fAeynsworth; Vice
rrssidsnt. Marion Noise; Cashier,
Anthony White. Jr..; directors. w. F.
B. Haynsworth. T. B..Johnston. Ma
rion Noise. A. s. Brown. r.. p. Mon
skhan. Aitamont MOSES and F. j.
Pelzsr. tho last named of Charleston
who II the only surviving member of
tho original board Of directors.
Tho bank prospered from the first
and within the next three or four
years the capital was increased to
$4,000 In order that the large VOL
ume OF business thu. tcame to the
bank might be handled
A little later Mr.. II. Il Manning was
elected Second Vice President and be-
came actively associated IN the man.
agement of the bank. continuing in
this' position until the death of
Presiden. w. r. B. EMynsworth.
March isth. 1905. when he Tas elect
Cd president. which oiiicc hk has fill
Cd with conspicuous emcidhcy and
success until this time. Owing to his
election to the governorship Of South
Carolina he recently resigned Tho pres
idency ot.the bank. the resignation to
take effect on January ist. Mr. J. p.
Booth for several years a member of
the board OF directors was elected
president to succeed Mr.. Man-ing and
no will enter upn the discharge of
his duties on the New Year.
The National Bank OF Sumer has
a capital stock of s2oo.Doo. a surplus
OF $4,000 and undivided pr}hts of
several thousand dollars. 1t pas IA
largo line of depositors and Satrons
and the regular statements published
during the last few years Shows Al
steadily growing business. On thq
board of directors are a number W
the most progressive and successful
h,,aipesa man NJ ANia rifv md Qotlpfy