Richmond times-dispatch. [volume] (Richmond, Va.) 1914-current, 1916-01-12
PLANTERS BANK GETS
s42,893.54 ON OLD DEBT
Had Been Charged OF for Many
Years, President Smith Tells
Stockholders.
BANK DIRECTIONS ARE CHOSEN
National Institutions Hold Annual
Meetings, When Reports Show
Most Prosperous Ycnr-Ghanges
in Official Stats and Dircctoratcs.

! Richmond national banks experienced
/ an extremely profitable year in 1915,
according 10 the annual reports Of the
presidents. made n tn" meetings Of the
s;ockhoid. rs Yesterday Local bankers
Expressed the opinion las, nipht that
the new yvar would find business sim
on the upward CLIMB.
! All naiiunal banks in the city, eight
I in n''mhrr. AMI throughout the United
states held their annual meetings yes
| tcrday for the election uf directors
There were few changes IN the dir,c
ioratcs. Following the stockholders.
meetings III" directors met and elected
/ tEi cihccrs who viii watch over and
control the dcstin-s or the financial in
tstituii"nS .lu"in.; the year
/ l.!clmond bankers devoted y nnrt NJ
the time at the meetings To the dis
icusSion or Various regulations the most
important OF which Is the nc,v Federal
i;;ci becoming effective in October OF
/ 'h!s year prohibiting interlocking di-
ifcct"rates. No action on this measure
+. vas taken, one banker expressing. the
opinion IT,; / as October was some time
distant. there was plenty or time to
make charges In the directorates If
needed. Another expressed the belief
| that tho set would he amended so as
mot To affect Richmond banks.
PLANTERS RECEIVERS
l Sf-,SU.t..s3 oN OLD ACCOUNT
As an example 81 the strong condi-
| ton of the local banks and as an in
IdIcauon OF the prosperous year Just
closed. when the bank dividends were
the largest in the city's history, Presi-
Edent Richard w. Smith, of the Planters
National firk, said in his annual re-
pot yesterdays. We were most fortu-
nate in recovering loss in JULY
amounting to si2.S93.5i, which had
, been charged off many years ago. In
view o. tails your directors deemed it
right that you should share in this.
and he"-c declared the extra dividend
OF . per cent. IN addition, the regular
I dividend Of 90 per cent was declared
for the year.
I These dividends. with an amount
equal I" q dividend Of l. per cent paid
ifor taxes, make a total of Sc per cent
paid YOU and for you out of the earn
,inSs fnr 1al5, besides an addition to
the undivided profits OF ss0.o++.55. after
charging off losses aSgregating $685.
900. 90
/ At the First National Bank A. D.
( Williams declined recollection TO the
board of directors. for the reason that
he vas becoming a director in the
Planters National, and George A. ITol-
| dern"ss, president OF the Farmers
Banking and Trust Company, Of Tar
! boro. y. c., was elected TO fill the va
cancy.
STEVENS ADDED TO
| MERCHANTS' BANK BOARD
| Tho Merchants National reelected
all the old directors, and added two
new members to the drcctoratc. The
nav members are George w. stevens
Ra'lwa., and L. Addison Rennolds
president of the Richmond Stove Com
,paEy. r. IL. Broaddus. for several
years auditor of the bank. was pro-
.niuted to an assistant cashier. and r. s.
Ros sell, formerly in the credit depart
iment was also made an assistant
cashier.
The directors and officers elected
yesterday follow:
/! American National: directors VIII
liam G. Camp, Grover c. Dula James
r. Gordon, Edgar G.. Gum. r. II. Har-
wood, Waller Holiday. Luther Fl. Jcn-
kins. W. j. Parrish, NJ &C. Patterson,
II. W. Eountrce, Oliver-~J Sands, i. @.
Scott. Emmett Seaton, T. Garnett Taob.
Charles l.. Whitlock. Ohcers-Oliver
j. Sands, president; H. w. Rountrce.
William G. Camp Waller Holiday,
interpretations: O. Baylor Hill, cash.
Ter: d w. Durrett, Stafford III. parK-
er and &. y. Pep!e, assistant cashiers
National state and City Bank: d.
ectors-E. Il. Addison, James H. An.
derson, Hugh Antrim, Preston Cooke,
James D. Crump. Julien II. I'm, y. l.,
\.
Hawcs. William NJ. Hill, Edward 4.
Mayo. Edwin y. Palmer. Granville q;
Valentine, Stewart NJ. Woodward Of
.iccrs-Wiliam IL. Palmer. president;
William NJ liill ana James w. Sinton.
vicepresiGents. and Julien IL. Hin,
cashier.
I WARREN VI. GODDARD
GOES WITH pLA NTERS,
Planters Nationals: directors-J. j.
/ MontaSu% Morton b. Rosenbaufn,
Richard VI. Smith, j. l.. Taylor Hem