The Dillon herald. [volume] (Dillon, S.C.) 1894-????, 1920-01-15
BANKS HAVE PROSPEROUS YEAR
Dillon's Banking Institutions Max"
Fine Showing for Year Just
Closed.

the close of the year the per capita
wealth OF the county has more than
doubled. Tile tanks themselves have
made good earn ings and are III
healthy condition. They paid their
stockholders good dividends, and
many of them paid substantial bon
us t. their employees. The Bank OF
Dillon leads in deposits, this insti-
tuition la, nig passed the million dol
lar mark for the first time in its his
.Cry
The Bank of Dillon showed earn
ings for the year of 81 $40 per cent
and paid out a 20 per cent dividend.
Its deposits on January End were ST.
IO62,234.97. 1t has paid out in divi-
dends since it's organization $l41,-
$4,000, or nearly twice as much as
its capital stock. In addition to I;
raise in salaries the officers were paid
a substantial borus. The following
officers were reelected: w. H. Null
ller, president; DR.. Wade Stackhouse,
ivice-president; James M. Sprunt,
cashier; R. L. Moody and Jno. c. Be
thea, Jr., assistant cashiers, and David
Byers and Jno. M. Sprunt, bookkep-
erS.
The Bank of Little Rock showed
earnings of % per cent. and paid out
no per cent. in dividends. Its depos-
its at the close of the year were
s243.OOO,OO, a substantial increase
over the previous year. The old Off
GERS were reelected as follows: T. Z
Sherwood, president; L. A. Manning
Ivice-president and j. H. Meadors,
cashier.
The Peoples Bank showed earn
ings of Is IA per cent, and paid out
an s per cent. dividend. The salaries
Iof all employees were raised and the
Nemployees also received bonus. The
deposits at the close of the year were
s215,OO0.00, which is a substantial
increase over the previous year. The
old officers were reelected as fol-
lows: T. A. Dillon, president; V. L.
Mclean, active vice-president; r. d.
David, cashier; and T. w. Hamer, as
sistant cashier.
Bank of Latta Has Prosperous Year.
Tho Bank of Latta has just closed
tho most successful year by far Oh
its history, b,th in profits earned and
in business done. The deposits as re-
ported by the Officers to the annual
stockholders meeting were two ana
ono quarter times as much as they
were one year before, being over
S435,000.00 on December SIst. 1918.
The profits fer the year netted ~
per cent of which 10 per cent was
paid out in dividends, and per cent
of $4,000 was given as bonuses TO
the employees. A resolution was al
So passed by the board of directors
expressing appreciation Of the eff
cient manner in which the affairs II
the bank were handled by its offl-
GERS and employees during the past
year. Mr.. D. B. Shine was added to
the board of directors and the same
officers were reelected.
The annual meeting Of the stock
holders of The Bank of Pages Mills
was held at its office December goth.
The report of it's officers showed the
year Just ended to be the most pros
porous in the banks history. Depos-
its were near on to $40O,OOO.OO and
the loans and discounts slightly more
than s300,000.00.
Dividends aggregating 80 per cent,
were paid out during the year, 81
10000 was passed to surplus, 81
10000 reserved for federal taxes due
this spring, and a $1,000.00 in round
numbers passed to undivided profits
account.
Although there is no electric cur
rent in town for commercial pur-
poses the bank is we'll supplied with
electricity for running its posting
machine, adding machines, rams,
lights etc. A plant for heating the
building with hot water has been re-
ceived and will be installed at an
early date.
The stockholders of the First Ma
tional Bank held their annual meet
ing Tuesday and the report OF CASH
ier Regan showed that the bank had
had a very prosperous year. After
passing $4,000 to the surplus fund
rs required by law the bank declar-
ed a dividend of 80 per cent. which
II he paid out to old stockholders
before the bank reorganizes and in
creases its capital to 100000.
The new issue of s75,000.0O has been
oversubscribed and the increase in
capital will be made as soon as au-
thority is received from Washington.
The following officers Were elected:
E. T. Elliott, president; A. b. Jor-
dan, 1st vice-president and Il. 5. RoS-
ers, End. vice-president. Directors: E.
T. Elliott, A. B. Jordan, ]. R. Regan'
r. S. Rogers, F. L. Bethea, Jno. C..
Bethea, ]. C. Adams. ]. X. Regain
cashier; p S. Bethea. assistant CASH
ier, Jack Hayes and ]. II. Stackhouse'
Jr., bookkeepers. The bank has pur-
chased the corner Of the Blum
store from r. S. Rogers and will
move into its new home about June
1St
The stockholders of the Farmers d
Merchants Bank OF Latta have not
held their annual meeting, but 1t Is
ctotad that tho hank has had a good