The Cordele dispatch. (Cordele, Ga.) 19??-1971, 1919-01-15
ATLANTA TRUST co.
PLANS TO DO BANK
ing BUSINESS

IRON 100000 to $1,000,000 the Atlanta
Trust Company, al its annual meeting
Of stockholders Wednesday afternoon
voted to open its doors for a general
commercial banking business, follow
ing a change in its present quarters.
1t will remove to more central To-
cation, negotiations for which already
are under way.
The meeting was most enthusiast
tfo one. The business outlook for the
institution and for the section at large
was OF the rosiest character, and the
statement that the present capitaliza-
ton ought to be increased met with
instant and unanimous support. A
large proportion of the new stock was
ut once subscribed for by the stock
holders present at the meeting, every
one OF whom took a liberal share.
The poNcy of the institution hereto
fore has been to conduct trust COM
pany business, but demands made
upon it for the acceptance of CONNER
eial business and the substantial as
surances from many directions OF busi-
ness to be offered. caused the trustees
and stockholders to be convinced that
a department for commercial banking
liz essential to perfect a well-rounded
modern trust company.
Other Departments Planned
The abundant measure OF success at
tanned by the farm loan department Oh
the Trust Company under the manage
ment of the head OF that department
has demonstrated to the satisfaction OK
the company that the addition oil other
departments, under expert manage
ment, will result in profit TO the stock
holders and real service to the COM
munity and state at large. The COM
pany plans to add TO its other depart
ments city real estate and loan de-
partment and an investment depart
ment.
that. with the use of the new capital
and the addition Of the new depart
ments, its activities in its present bank
ing. commercial paper, corporate and
individual trust departments will DO
greatly increased
At the meeting statements were ex-
hibited showing the assets of the Trust
Company, and that the income there
from for the year 1919 upon its pres
emit basis of operations is ample to
provide satisfactory earnings on cap
Ital of $1,000,000, which earnings of
coREse, will be materially increased as
the result OF the use of additional cap
It&l and new departments.
The earnings for the year closed De
cembeT 81 were such that, after the
payment of per cent dividends, over
per cent was placed to the credit of
undivided profits account leaving the
present book value of the stock SIG
per share.
Trustees Are Elected
At the stockholders meeting just
held the following board of trustees
was elected:
Arnold Broyles, clerk Superior Court,
Fulton County; DIR. f. Phinizy Cal
houn, Hamilton Douglas, Jr., attorneys;
Frank S. Etheridge, president of the
company; A. J. Evans, president Citi
Zens Bank, Fort Valley; Samuel N.
Evins, Evins & Moore, attorneys;
ia National Bank; Robert l.. Foreman,
State agent Mutual Life Benefit Life
Insurance Company; J. M. b. Hoxsey
vice president Southern Bell Telephone
and Telegraph Company; B. r. Jones,
banker, Canton; Mitchell c. King,
cotton oil broker; Charles B. Lewis,
president Fourth National Bank, Ma
con; George 8. Lowndes, vice presi-
dent of the company; John Morris, the
Keely Company; W. P. Wallace, bank
er, Rutledge.
The trustees met upon the adjourn
ment of the stockholders meeting, and
elected the following officers: Frank
S. Etheridge, president; George s.
Lowndes, vice president; Turner G.
Trippe, treasurer; John b. Wheat, sec
rotary and trust officer; Jack j. SpaI-
ding, counsel; II. O. Reeve, manager
farm loan department.
An interview with Mr.. Etheridge,
president of the company, Immediately
following the meeting, resulted in the
statement that it is the conviction Of
himself, the trustees and stockholders
that trust company conducted upon a
liberal policy with ample capital de-
partmentaliZed under expert superyi-
sion in each department, will provide
a much needed addition to the finan-
Cial machinery of this section, which
will compose an essential factor In
meeting the varied demands of the
REIMBURSEMENT period now in progress.
and such institution will surely par
ticipate in the prosperity OF the peo-
pie of the good old State OF Georgia
bound to exist during and after this
period.
10, I 81 nd