The Ocala evening star., 1915-09-10
BIC BUSINESS FOR
AN OCALA BANK
Commercial Purchased War
rants from the County
PLAN WILL SOON PUT A LARGE AMOUNT OF Cash N
CIRCULATION AMONG THE PEOPLE

The Commercial Bank Of Ocala has
again consummated big deal in pub
lie securities, this purchase being
from the county, while the first was
from the city.
The Commercial Bank yesterday
purchased from the board Of county
commissioners the entire amount of
county warrants issued prior to Feb
ruary of this year, which warrants
were validated by q special act Of the
last legislature, which, however does
not validate any warrants issued
since that time.
The aggregate Of the warrants pur-
chased yesterday by the Commercial
Bank was $4,000 and the purchase
was made at par with accrued inter-
est, of course, going to the purchas-
ers. The warrants will be taken up
when the deal is finished and the new
validated warrants will be issued in
denominations Of $1,000 each, with six
per cent interest, each warrant recit-
ing that it takes up outstanding war
rants Nos. blank to blank This gets
the paper into a commercial shape,
as it would be impractical for north
ern investors to handle warrants
made out to Tom, Dick and Harry, in
sums varying from less than a dollar
up.
There were several other bids, pur-
suant to the advertisement promul-
gated by the board, but none were as
good as that of the Commercial
Bank, and the members of the board
were very much gratifed to have
such a satisfactory bid and coming as
it did, through a local financial house,
makes US all feel that our paper is
not only looked upon with favor by
our own investors but by those in
other sections of the country.
The Commercial Bank will place
the warrants in the north, where its
connections with large financial
houses and investors in county and
municipal securities enables it to get
all of the money that may be needed
for thi scharatcer Of investments.
AS soon as the matter is closed up,
the new warrants made and deliver
ed, the money will be brought here
and placed in circulation, one hundred
and ten thousand dollars of bran new,
northern money, which, when it is
scattered out through the many chan
nels of trade will certainly give q
stimulus TO business and, too, at q
time when il is much needed.
In speaking of the transaction this
morning, Mr.. d. w. Tompkins, vice
president of the Commercial Bank,
the official Of the bank who handled
both transactions. told Star reporter
that his greatest ambition was that
ais bank should be a benefactor Of
the public, to help, advise and counsel
with the people, both in private and
public business and that he felt a
Just pride I'm the fact that he and his
bank have been instrumental in clos
ing up matters that viii shortly
bring TO this community over q quar-
ter of a million dollars Of new money,
which will mean new business and
new enthusiasm and will put more
outside capital to working here than
has ever been released in this part Of
the state before.
The Star congratulates the mem
bers of the board Of county commits
sioners who have been in a long and
strenuous session, on the success of
their efforts to sell their securities,
and is especially glad that the Com
mercial Bank, a local institution,
owned and operated entirely, as is
each of the four banks Of the city, by
local men and local means, should
have been able to handle the matter
SC successfully.
There is no question about the
results, when all of this money gets
to circulating in these parts we VIII
feel the difference and all of as viii
reap the benefits of the new money,
either directly or indirectly.
Ocala and Marion county is not
dead, by any means, and this trans
action will do much to awaken even
greater interest in the community
and viii be the beginning of many
other new and good things.