The Nashville globe. [volume] (Nashville, Tenn.) 1906-193?, 1918-01-18

fourteen years, | am reminded of our
reverses, but your Board of Direc.
tors has met each one and faced them
as men.
Yes, we had our clearing house GER
tificates of 1907. We had our City
Savinks Bank disaster, and last, but
not least, one of our most trusted
employees went wrong. But your
Board Of Directors has met each of
these reVerses as was becoming men
who were trying to steer an institu,
tion that started, not for gain, but to
restore lost confidence This banking
institution is really the mother of Ne.
gro banks in Tennessee. Fourteen
years ago when we opened our door
there was not been a Negro bank
within the borders of Tennessee.
We did not call you here tonight,
ladies and gentlemen as stockholders,
to parade before you our reverses and
mourn over them, but we called you
here to tell you of our success and
gains, and to rejoice with you over
them. Starting as we did fourteen
years ago with a $1,000. .00asset, we
rejoice to tell you that during these
fourteen years more than $4,000 900.
90 have passed over our teller's
counter, We have purchased and paid
for the fixtures that you see before
you. We have purchased and paid for
home for the bank fronting on
Cedar street, beautiful three.storv
brick building, which is we'll worth
SlS,OOO.OO. | say this for the reason
that a twO-story brick building near
The same size that brings less rent
was purchased recently at what was
understood to be bargain, for s25
10000. For twelve years we have
paid you dividend of 6 per cent on
every dollars worth of stock. One
year we paid per cent and one veal
lO per cent, and we are here to night
with the dividend checks all made out
10 hand you your per cent dividend
We want to rejoice with you, beca sc
every stockholder that paid $500 fo1
a snare OF stock fourteen years ago
has since received $3.50 in cash on
that $500 worth of stock, and has
today in this $S0,000.OO assets S75C
to mis- or her creG.t. Let us therefore
not mourn, because from time to tir
we have met a few reverses Tbi,
was to be expected, but when we cor
say to you that every dollars wortl
OF running expenses has been paic
each year that every stakeholder ha.
received $3.50 during the fourteen
years for his $500 worth of stock
and that we have so restored conf
dence in the city that we have beer
entrusted to pass over the counter
Sl2,OOO,OOO.00 and have an asset OF
hand Of $S0000.00, that every 500
share of stock taken out fourteen
years ago is still worth $3.50. | thinl
we have great cause ior rejoicing an,
for renewed confidence
Il have a few recommendations fC
leave With the new Board Of Airec
tors When you shall have elected Them
which is not necessary to mention
here, BIT simply say to you that YOU
duty is TO elect Board of Director,
and they should proceed for another
years Journey on the adventurou.
sea OF banking enterprises.
Upon the completion of the report,
Of all the officers the following direc
tors were elected for theensuing year.
G. II. Clark, pastor Mt. Olive Ban
fist Church, |. B. Scott, retired Bisho1
M. e. Church, r. H. Boyd, Sec. Treas
Nat. Bap. Pub. Board, VIM. Haynes
Sec.- Treas. S. S. Pub Boards J. c
Napier, Cashier and Lawyer, e. B
Jefferson, Dentist, G. W. McKissack
Contractor, c. V. Roman, Eye, Ear
Nose and Throat Specialist, Evans
Tyree, Bishop A. ME-. Church. Hump
hrey Bowling, Pres. Ry Emp Prot
Association, j. A. Napier, Dentist, H
A. Boyd, Asst.-Secy. Nat Bap. Pub
Board c. A. Dickson, Capitalist, ]. w
Grant, Lawyer, Preston Taylor, Under
taker, w. j. Hale, Pres. A. and |. State
Normal School, c. N. Langston, Asst
Cashier.
1t was noticeable that not a single
change in the borad of directors wa.
made. After the adjournment of the
Veockholders' meeting the newly elect
ed directors held their first meetine
and elected the following officers: R
Fl. Boyd, President, C. H. Clark, FRS
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