The watchman and southron. [volume] (Sumter, S.C.) 1881-1930, 1915-01-06
BANKS ISSUE USUAL DIVIDENDS
$2S, 500 SENT OUT no STOCKHOLM.
Frs Or RANKING INSTI.
TIONS.
Hard Times Have not Prevented Bank
From Making Money During Past
Year and Report Outlook for a
Good Business During 1913.

Good Business During 1913.
The alleged hard times have no,
seemingly greatly affected tho banks
In Sumter. for all Of them have been
able to issue their usual 4 per cent
dividends. Altogether bank stock
holders received $2s,5OO in dividends
which was sent out by the banks on
the S1st Of Demember. At the various
institutions 1t was stated that pros
poets were bright and the officials
were hopeful Of a good business during
the incoming year.
The Commercial and Savings bank is
just fourteen months old and did not
issue any dividends this year. but its
business has been steadily increasing
and the bank expects the coming year
to be highly successful one under
the administration of it's new presi-
dent. Mr.. Geo. d. Shore. who in the
near future will begin to devote his
entire time to the bank.
At the First National. which sent
out Its usual per cent. semi-annual
dividends. amounting to $4,000, it
was stated that business had been
satisfactory for the past year, consid-
cring general financial conditions. The
bank was prepared to continue its con-
servative policy and expected a good
business during the coming year. as
present prospects were excellent.
The City National bank issued two
per cent. dividends at the first of the
year. instead Of its usual four per cent
dividends. making six per cent. divi-
dends for the year. The other divi-
dends were put with the undivided
profits and increased the value of the
banks stock and strengthened the
institution. It was stated that bank
felt encouraged as prospects were
brighter for business and the institu-
ton was hopeful Of and looking for
ward to big increase In business.
The National Bank Of South Caro-
lima reported that Its business dur
Ing the past year lad been the
largest which the bank had ever had
and the year had been the most pros
porous for the institution. The bank
realized that 1t must be conservative,
especially at the present time. but 1t
expected a larger and better business
during the coming year than ever be-
fore. The bank issued It's usual four
per cent. semi-annual dividends Of
$4,000 anu placed money in It's sur
plus. so that it's reserve was the iarg-
est whish the bank had ever had.
The Sumter Trust Company issued
It's usual three per cent. SEM -annuai
dividends at the first of the year.
Business has been good during the
past year and the institution looks for
"a prosperous year.
The Peoples Bank has had q good
business during the past year and is
looking forward to a steadily increas-
ing business during the coming year.
TIE bank opened for busines in 1910
and has issued four per cent. semi
annual dividends regularly since June
3oth. 1912. the dividends Of four per
cent. having been sent out on the S1st,
totaling $4,000. At the same time the
bank has steadily added to it's sur
plus and Is In excellent condition
the new years business.
MIR. j. p. Booth. a we'll known and
successful business men Of Sumter,
has succeeded Mr.. r.. !. Manning as
president OF the National Bank of
Sumter. which has Just received the
charter In record breaking time.
showing that In the estimate Of the
treasury department 1t is In excellent
condition. 1t begins the New Year
with these changes. expecting to con-
tinue it's past liberal policy and at the
same time to reach out for new bus
iness, while taking care Of former GUS
toners. The bank Is twenty-five and a
half years old and on January 1st is
sued it's fifty-first four per cent. an
nual dividend.