Bogalusa enterprise and American. (Bogalusa, La.) 1918-19??, 1919-02-27

So closely is the record OF the RAPID
growth of the Washington Bank and
Trust Company interviewer with that
of the City of Bogalusa and Wash
ington parish the last five years that
a review of this section of the state
would be incomplete without sketch
of this remarkably successful finan-
cial institution.
Foreseeing the wonderful business
development of the city and parish,
the bank was organized in January,
1914, through the efforts of j. B..
Lindsey, who was elected president
and has held this office continuously
ever since. Offices and counting
rooms were established in Bogalusa,
Franklinton and Angie, the three
best locations from which to serve
the banking needs of Washington
parish. That the untiring efforts OF
the management to conduct this in
stitution on the most liberal policy
consistent with conservative banking
practice, extending every courtesy
and accommodation to depcsitors,
and encouraging all movements for
the sound financial advancement of
the parish, has met with apprecia-
ton is attested by glance at the
steadily increasing volume Of depos-
its-an increase of about $50 per
cent in five years.
The statement issued at the end of
the fifth year january 9, 1917
shows deposits amounting to $751;
9OS.89, with resources in cash, bonds
and other securities of nearly $780,
10000. In five years this bank has
distributed $16,0O0.00 in dividends
to stockholders and set aside $15,-
10000 for surplus account, making
a total capital and surplus of $685.
10000, besides in 1918 increasing
the dividend rate to 10 per cent.
This bank is the fiscal agent for
Washington parish and Washington
Parish School Board, also the deposit
tary for the United States Postal
Fund
]. B. Lindsey, the president of the
bank, is given full credit for the re-
markable development of the WASH
ington Bank and Trust Company.
Although the youngest bank presi-
dent in the South, his experience in
banking and financial matters af-
forded opportunities for studying the
subject enjoyed by few other young
men, and his success in this field
was but the logical result Of apply
ing the knowledge gained, plus the
ability to grasp the science Of mod
ern banking, and a talent for organ
izing and good hard work.
Beginning his banking experience
in 1907 as messenger for the Inter-
state Bank & Trust Company of New
Orleans, he quickly climbed the lad
der Of promotion until few yea
later when a receiver for a large /
lumber company was required. Mr..
Lindsey was chosen for the position,
which offered an exceptional chance
to become familiar with the details
of one of the great industries of the
South.
His success in handling the affairs
Of the Port Barre Lumber Co. is
= matter of record, bringing him in
touch with prominent men in the /
business and later turning his atten-
ton to the banking possibilities of
the center Of the lumber manufac-
ing Of the state.
Mr.. Lindsey can always be de-
pended upon to cooperate in any
movement that has as its object the
of the interests of Wash
ingtOn parish. He is president Of the
Parish Fair Association, chairman of
the Parish Council of Defense, ex-
alted ruler Bogalusa Lodge Of Elks, q
1ason--a man who has won a le-
gion Of friends and keeps them.
The solid strength Of a financial
institution is always more forcibly
impressed on the public mind by a
knowledge Of the active directors
who shape its policy. The board Of
directors Of the Washington Bank a.
Trust Company is composed Of men
well known throughout the parish:
Magee w. OFT, chairman Of the board
and counsel for the bank, prom
inent attorney Of Washington par
ish); F. M. Brown vice-president
and director; Clyde S. Moss, vice
president and director; J. M. Burris,
director; c. B. Jones, director; w. /.
Daniel, cashier in charge at Angie
and director; DR.. C. E. Gill, director: ]