The Birmingham age-herald., 1916-06-20
OFFICERS ELECTED FOR MORRIS PLAN CO. OF BIRMINGHAM Striking Feature of New Company Is the Financial Strength of Directors LOCAL BANKS NAMED
 AS REPOSITORIES Purpose of Morris Plan Is to Provide Means by Which Wage Banners
 May Borrow Money at
 Legal Rates

CTS of the Morris Plan company of Bir- mngham was held yesterday, officers and directors were elected, and manager and assistant manager chosen. Contracts for the equipment of the offices. including furniture and fixtures, were let locally and plans were made to open for busi- ness not later than July 15. A lease was made for the offices at 107-1O9 North Twenty-frst street. in the Birmingham Railway, Light and Power company build ing.
 Robert Jemison, Sr., was elected presi- dent; Crawford Johnson, first vice presi- dent; L. Sevier, second vice president, and H. S. Miller, secretary and treasurer. In addition 25 directors, including the most prominent men in financial, industrial and business affairs of the district, were named to constitute the board.
 H. s. Miller. secretary and treasurer, was also elected to the position of man ager. MT. Miller is well known in Bir- mingham, where he was in business for number of years. For sometime past he has been an official of the Anniston Ordnance company, which is engaged in manufacturing war munitions. w. E.. Willett was chosen as assistant manager of the company.
 $10O,00 CAPITAL
 The Morris Plan company of Birning- ham begins business with $1O0,00O capital. of which amount S75, 900 was taken by Bir- mingham men and the other $25.000 is held by the Industrial Finance corpora tion of New York. The latter corpora ton holds similar interest in these financial institutions located in the prin- cipal cities throughout the country. Rob- ert Jemison, ST., is a director in the Industrial Finance corporation.
 The First National bank and the Ameri- can Trust and Savings bank were named as the Repositories for the funds of the new institution. The American Trust and Savings bank was named as registrar and transfer agent and calls on stock sub- scriptions will be received at the First National bank.
 One of the striking features of the new company is the strength of the board of directors. it being pointed out in finan- cial circles yesterday that no institution in Birmingham could boast of greater financial strength represented on it's di- rectorate.
 OFFICERS AND DIRECTORS
 The complete list of officers and direc- tors elected at the meeting of stockhold- CTS yesterday follow:
 Robert Jemison, capitalist, president
 Crawford Johnson, president Birmingham Coca-Cola Bottling Co.,, first vice presi dent; l.. Sevier. general agent Southern Railway company, second vice president H. S. Miller, secretary and treasurer; J H. Barr, chairman board. First Nationa
 bank; Coleman Blach, J. Blach & Sons George A. Blinn, president Excelsior laundry; Sydney J. Bowie, attorney; w S. Brown, president w. s. Brown & Co. Harry w. Coffin, president Alabama company; K. A. Conville. Pratt Consol dated Coal company; w. w. Crawford president American Trust and Savings bank; c. T. Fairbairn, manager Republic Iron and Steel company; A. F. Hilleke general manager Semet Solvay company Albert Hopkins, Industrial Finance cor poration; M. " Joseph, president Love man, Joseph & Loeb; John l.. Raul, pres ident Kaul Lumber company; J. D. Kirk patrick, president Kirkpatrick Sand ant Cement company; W. B. Leedy, presiden w. B, Leedy Real Estate and Insurance lJ. G. Moore, general superintendent Sloss-Sheffield Steel and Iron company Hugh Morrow. attorney; Joseph P. Mudd attorney; Zach L. Nabers, capitalist; J S. Pevear. president Birmingham Rail way, Light and Power company; H. U Sims, attorney; E. M Tutwiler, capital ist; R. H. Woodrow, manager City Ic Delivery company; A. H. Woodward president Woodward Iron company; F. B Yielding, Yielding Bros. Co. The plans for the organization of tn Morris Plan company were launched a meeting here some weeks ago, am the ma atter has been successfully consum mated by Albert Hopkins, of the Indus trial Finance corporation of New York who is one of the directors of the loca company. The purpose of the Morri Plan is to provide a means by whicl people who work for wages or salarie can borrow money at the regular lega rates and also to provide a safe invest ment with good interest returns whicl | can always be converted into cash at an, | time desired.
 WONDERFUL SUCCESS l The Morris Plan institutions have me with wonderful success in other citie l and large industrial centers and 1t is be | lieved that Birmingham offers one of tn ! best fields for such an institution to b l found anywhere in the country. Wher | these banks have been located the loa | sharks have practically been eliminated l as the man of small means was able t l secure his loans at the same rates pail | by the business firms from the commer | cial banks.
 1 T believe this institution will be fin | thing for the Birmingham district" sai
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