The Dallas express. [volume] (Dallas, Tex.) 1893-1970, 1921-08-20
LOUISVILLE HAS NUMER-
Gus NEGRO PROJECTS.
Spirit Of Cooperation Makes
Entry into Many Lives Of
Business EndeavOrs Possible
and Profitable.
(By A. N. P.)

Louisville, Ky, Aug. 1S.-The au-
thor of MY Old Kentucky Home"
This is especially true of Louisville,
Particularly does a spirit of co-opera-
tion and friendliness seem to exist
among the fifty odd thousand Colored
people in Louisville.
There are few cities in the United
States where advancement and a pro-
gressive spirit Is shown to more ad-
vantage than in true there. Colored
men and women are represented In
practically every indus strial and COM
mercial line of undertaking. The
Picture and Vaudeville Theatre and
the Palace Moving Picture Theatre
are two of the best managed and di-
rected by Colored people, while the
Palace Theatre has a number of white
business men on its board The Lin
coin Theatre is managed and directed
entirely by Colored people. The larg-
est Moving and Packing business in
ored firms of Louisville. This city al
so boasts four newspapers, is the
home office of two life insurance COM
panies with state offices of two ad-
Among other representative businesses
ore a number of drug stores, the
beautiful Pythian Temple, hotel, two
coal companies, two construction COM
panies, two photographers, fifty ply
clans. number of dentists, seven
lawyers, two florists. two hospitals,
thirty groceries, ten undertakers, as
well as numerous milliners, tailors and
one ice cream manufacturing COM
pany.
This sketch of Louisville would not
be completes without mention of the
First Standard Bank which way open
ed for business on Feb. S, 1921, with
n combined capital and surplus of
$4,000. Within five months, the de-
posits exceed Sl08,000; their customs
ers number more than 5000 and their
| of the most influential men and wom-
en- might be mentioned: DR.. c. H.
Parrish, President of the State Uni
George C. Clement. Mr.. w. W. Sprad-
! ling, wealthy capitalist is chairman
Of the Board. The First Standard
Bank was organized by Wilson Lovett.
who is President of the, Bank: In a
recent interview with the writer, in
response to the question as to what
part this bank was playing in the
life, of the community. Mrs. Lovette
made this statement, which in itself
indicates the care with which his in
| stitution has surveyed the commercial
| interests of the community:
Il sincerely believe that within the
next ten years the commercial and
Industrial progress of the Negro in
America will amaze the world. Here
In our own community, businesses of
| every description ltOr the most part
with insufficient capitaD' are spring
up almost weekly. We have already
directly assisted in the financing and
establishing of over twenty-siX diff
| ferent corporations during the five
months since we began operations.
| We regard it as a primary function
of this bank to asst in financing and
making successful the meritious bust
nesses among these new ventures.
Our effort is to have the First Stand
ard Bank function as a financial pool
Into which may be poured a large
| part of the money belonging to our
group: these funds in turn to be
J loaned out on proper security and un-
| der reasonable safeguard, to assist;
| first the various new and old busi-
ness enterprises and secondly, the
personal needs of our people.
In backward countries banks are
but little used by the masses of the
people and money is boarded, becom-
! ing a dead asset. A bank becomes a
pool. into which are drained thousands
of small sums, easily wasted, or, If
not wasted, unproductive by themse-
| Ives, and the sums so accumulated
become active agencies III the life
of the community. If the owners
would deposit them in banks, the eff
! feet would be to radically change in
| dustrial and living conditions in the
| life of any group
Colored people VINO deposit their
! funds in Negro banks who use these
| funds in their business have the salts
faction not only of receiving the in