The commonwealth. (Greenwood, Miss.) 1896-1923, 1920-12-15

No other stock will be offered or
issued at the present time, SO that
the corporation begins business with a
paid up capital Of S2,O00,000.
Money for taking up this stock has
been furnished by q group of the
strongest banks Of the South, com
prising banks in New Orleans and in
Memphis, Tenn, In addition to this
capital stock, the corporation has ar
ranged to borrow an additional ST.
100000 from a group Of banks in New
York, Boston, Philadelphia, Chicago
and St. Louis. These banks have all
been seen, have consented to the loan
and papers for closing this loan are
now being drawn, thus assuring the
Mortgage Company total Of $780,.
600, which will be used for carrying
the customers of the Planters Bank,
whose collateral is approved by the
Directors Of the Mortgage Company,
and who, because Of the low price of
cotton are unable to meet obligations
maturing this fall.
The organization of this company
was inspired by the Planters Bank
in its effort TO serve its customers and
was made possible through the efforts
Of DR.. P. II. Saunders Of New Orleans,
who has given his entire time for the
pas three weeks to the perfection Of
this organization and the arrange
ment of the details.
The directors of the Yazoo Delta
Mortgage Company are; S. L. Dodds,
A. j. Moseley, f. l.. Anderson, Oscar
Johnston, NJ. Kline.
New Officials Busy.
The first meeting Of the Directors
was held yesterday, at which time
Mr.. s. L. Dodds was elected Presi-
dent, Mr.. Oscar Johnston, Vice Presi-
dent and Counsel, Mr.. G. f. Baltzer,
Secretary and Treasurer, Mr.. c. G.
Snyder is manager Of the Farm Mort
gage Co., the directors proceeded
to discharge the regular business Of
the bank.
On account Of the increased volume
Of business resulting from the organ
ization Of the Mortgage Company,
Mr.. Holland stated TO the directors
that subject to their approval, he had
invited Mr. Calho0n Wilson Of Green
wood, Miss, heretofore connected with
the Wilson Banking Company Of
Greenwood Miss, to come into the
Planters Bank as an active Vice-Pres-
ident, and that Mr.. Wilson was pres
ent at his, Mr.. Hollands invitation.
The directors expressed their pleasure
at having Mr.. Wilson present at the
meeting and unanimously elected him
a director and Active Vice President
Of the bank. Mr.. Wilson enters upon
the discharge Of his duties today and
will, we are confident, prove a most
valued asset to this bank.
Johnston Elected Chairman.
Oscar Johnston, Attorney for the
bank was elected as a director and
made Chairman of the Board, in which !
capacity he viii hereafter be actively
with the management Of
.he bank.
An Executive Committee composed |
If w. P. Holland, President; Calhoon |
Wilson Vice-P President; Oscar John
5ton, Chairman Of the Board, and S. |
l.. Dodds, A. J. Moseley, W, N, Mich
lis and Z. L. Anderson were selected |
and charged with the duty Of shaping |
The policies Of the bank.
The personnel Of this Board assures
10 the people Of the Delta the contin-
Iation Of the broad and constructive
policy of the Planters Bank. Com
ng at this moment Of general depres-
sion this action on the part Of the |
Planters Bank gives heart to peo-
pie who were becoming somewhat dis
outraged.
Mr.. w. B. Nichols was added to the