Atlanta tri-weekly journal. [volume] (Atlanta, Ga.) 1920-19??, 1920-12-07
TIME LIMIT NEAR
FOR TAKING STOCK
IN EXPORT BANK

| With the time limit for subScrip-
ton of the capital stock of the Fed
eral International Banking company
fast approaching, the Georgia cam
paign committee is putting forth re-
neWed effort to induce banks bank
ers, exporters, importers and whole
salers to take stock in the enterprise
which is designed to relieve finan-
cial conditions in the south by ia
cilitating the expectation of cotton
and other St uthern products to for
| eign markets. Unless the minimum
capital of $6.000,00O is fully sub
scribed by December 10, the export
bank will be abandoned
The organization committee will
meet on the 10th of December, Fri
day next, in New Orleans to canvass
the situation and consolidate the
subscriptions that have been made in
Georgia and the other states of the
cotton belt The committees deter
nination to continue with the organ
ization of the institution will be de-
termined in measure by the re-
suits of this canvass.
The campaign in Georgia, which
was inaugurated at a meeting of the
bankers association at Macon, When
over $1,000,000 was pledged, is pro-
crossing satisfactorily, and it is con-
fidently believed that the $1,5OO,OO0
allotted to Georgia as it's minimum,
Will nave been oVersubscribed be-
tore the expiration of the time limit.
Recent Subscriptions
Most of the Georgia banks will
nave the monthly meetings of their
boards of directors within the next
lew days, and at each meeting the
proposition of subscribing to the
capital stock of the international
banking company will be considered.
Within the last few days the fol-
lowing banks have sent in their
stock subscriptions: National Elk
change bank, Augusta; Peoples bank.
Athens; Jefferson County Bank, Wad-
ley; Bank of Danielsville; Bank of
nan; Butler Savings Banks, But
Ter; Bank of Wrightsville; Bank of
Zebulon; Farmers Bank of Craw
ford; Bank of Quitman; Bank of
Glrard; Elberton County Bank; Fair
mont Bank; Bank of Locust Grove;
Peoples Bank of Ideal; First National
OF Thomasville; Merchants and
Farmers OF Culloden.
me campaign committee, in
charge of the solicitation of sub
scrlptions in Georgia, yesterday gave
out the following statement made by
j. r.. Frlzzell, president of the Farm
ers Banking company of Wave:Iy
Hall, Harris county:
After considering the provisions
OF the Edge act passed last Decem-
Der and reading the prospectus of
the Federal International Banking
company of New Orleans, I feel that
the successful formation and opera
lion OF TINS export organization is
bound to exert tremendous influence
at this time to relieve the emergency
that is faced by the people of our
section.
THE banks serving the country
districts are peculiarly interested in
TINS subject for the reason tina.
whatever benefits will accrue from
the operation of this company as pro-
Jected viii lnure primarily to the
communities and the interests that
they serve. The secondary benefits
will also be felt by them along with
interests located in the large centers.
Would Aid Exports .. .-
I'm facilitating the export. of cot
ton which this bank will do, every
cotton producer in. Georgia will be
benefited, regardless of whether the
cotton exported was raised in Geor-
Sld, IeNdS or. South Carolina. The
price of cotton is affected by the
surplus stock in the country as
whole rather than. in particular
state. '..
1.-The association OF country banks
of which L am president has shown
its interest in this matter, especially
through the cooperation of our sec
rotary, Mr. l.. r. Adams, of Atlanta,
who has given considerable time and
work, and has presented it through
letters to all the bank of our associa-
ton.
I'VE feel that the successful opera
ton of this banking company would
not only help communities our banks
serve, but would help the banks
themselves. There should be no
question that the offerings and serv-
ices of the proposed banking COM
pany will go first to stockholders in
the organization, In becoming stock
holders our banks will not only be in
closer touch with the international
markets but will be lending part of
their capital to a project that has
every promise of giving the largest
possible benefit to their own GUS
TONER'S"