The Denver star., 1915-02-13
RISE IN CAPITAL Z
OF old DOMINION
Success Of Our Institutions In
Richmond, Va.
TRUE REFoRMERs LEO way.

How John Mitchell and Mrs. Maggie
L. Walker Are Looming Up ~ Cap
tains Of Financs-Gsnsrous spirit
For Friendly CO. operation Shown by
the Hon. Giles 3. Jackson.
Richmond. Vain hard times year,
with war in Europe. cotton stagnating
In the south, trade conditions disjoint-
ed. a new currency system being in-
stalled and pessimistic customers
drawing In their horns In what Presi-
dent Wilson has described as 'psy-
Geological panic" Richmond's banking
houses managed to earn and pay the
largest dividends in the city's history,
as shown by their records In January.
The increase over 1913 amounts to
$500, according to the Industrial Ad-
vocate.
This calculation includes the banks
operated by the colored people as well
as the whites, as the colored folks pay
dividends in the same order and are
supervised over by the state banking
commissioner the same as the white
banks. The banks run by our people
are inserted in the list, but to one not
familiar with the different institutions
it would be difficult to know where
these banks are located or whether
they are operated by colored or white
people. The fact that our banks were
included without discrimination speaks
well for the colOred people of Rich
mond, who founded their own banks.
1t is true that the pioneer colored
bank of this city went out of business
in 1910, but 1t is sufficient to say that
this bank laid the foundation for those
which are now succeeding it. We re-
fer to the Mechanics Savings bank.
over which John Mitchell. Jr.. presides.
and the st. Luke's Savings bank, of
which Mrs. Maggie l.. Walker is prcsi-
dent. She is woman In n class by
herself and is the only colored woman
who is president of a bank in this
country. or in the world, so far as we
know. IL we had just ten men her
equal, the race would advance, 100 per
cent in the financial and industrial
field. ps
Mrs Walker is at the head of one OF
the greatest organizations of Onr race.
or any race. We refer to the Order ~
st. Lukes. which has paid out 100000
to widows and orphans. every dollar
Of which was collected and dispersed
under her supervision. Every fraternity
and insurance institution through
which she has had business dealings
states that her records are among the
best of any fraternal institution oper-
ated along similar lines. Her business
method has premium on 1t and is
worthy of the recognition of any large
institution.
The True Reformers' bank was the
first to stimulate in the Negro the con-
and as a result we now have the st.
Luke's Penny Savings bank and the
Mechanics Savings bank, which are
two of the greatest institutions in the
south-in fact. in the whole country
that are operated by colored people.
and 1t may be added that they compare
favorably with some of the white in
stitutions. John Mitchell, Jr., president
of the Mechanics Savings bank, is u
member of the National Banking as
sociat1on. and Is the only colored mem
Der Of that institution. This speaks
well for the Negro, and shows that
with half a chance he will make good.
The above facts refer to the coiored
people In Richmond alone and are only
an inkling Of the great number of bust
ness enterprises successfully run by
our people In this city. In other sec
lions OF the country the race Is doing
equally as well along many lines Of
industry and professional skill. 1t is
the aim of the big exposition which is
to be held here for a month beginning
ments Of the race In this city and
throughout the state. 1t will also show
our progress throughout the nation In
most every line of business, invention.
religion and literary achievement. The
exposition will be held under the aus
pices OF the Negro Historical and In
dustriaI association. of which the Hon.
Giles 3. Jackson IL president.
One OF the substantial features about
the forthcoming celebration Is the fact
that our people here and throughout
the country generally nre showing .
timely interest In the plans for the ex-
position by cooperating with the d.
Fectors In every detail Of the work.
Churches, secret and benevolent sOci4
ties. business and educational instltu-
tions will nll be represented by ex-
hibits of various kinds. The celebra-
ton Is to commemorate the fftieth
anniversary OF the emancipation OF the
colored race in America and to show
whnt progress 1t has made during
half century Of freedom.