Albuquerque morning journal. [volume] (Albuquerque, N.M.) 1903-1926, 1921-01-12
LOCAL BANKS IN
THRIVING YEAR,
REPORTS SHOW
Annual Election of Officers
Held in Three institutions;
All Name Boards of d.
reCt0rS.

Officers and directors were elect
ed yesterday by three of the five
Albuquerque banks and two others
elected directors. The general
tone of reports indicated a healthy
condition, all showing substantial
earnings and increases in the sur
plus. .. -
The officers elected for the First
National bank are: J, M. Reynolds,
president; Guy L. Rogers, active
vice president; c. S. White, vice
president and cashier; H. f. Ray
nolds, vice president; j. r. Cox,
Herman L. Snyder and Melton
Chavez, assistant cashiers. The
directors are Joshua S, Reynolds,
A. B. McMillen, H., f. Reynolds and
G. l.. Rogers.
The officers elected in the First
Savings bank and Trust company
are ]. NJ. Reynolds, president; Z.
S. White, vice president; j. f. Cox,
secretary treasurer; F. X. Howell.
assistant secretary treasurer. The
directors are Lloyd Sturges. Louis
Ilfeld,s A. B. McMillen, II. F. Ray
nolds, j. M. Reynolds. J. e. Cox
and C, S. White.
Citizens National Bank.
At the annual meeting of the
stockholders Of the Citizens Nation
al bank the following officers and
directors were elected: Albert G..
Simms, d. A. Porterfield, Silvestre
Mirabal, James w. Leech. A. A
Heflin. A. l.. Martin, d. f. Har-
rington, C. T. French and John F..
Simms.
The following officers were elect
ed: President, Albert G. Simms..
vice presidents, D. A. Porterfieid
and Silvestre Mirabal; active vice
president, James w. Leech; CASH
Ter, H. G. Bunges; assistant cashier
Earl Porterfield.
The report submitted to the
stockholders meeting showed that
the Citizens National bank had In
1920 the most prosperous year IN
it's history. 1t was pointed out by
Mr.. Porterfield that less than three
years ago the total resources CT the
bank amounted to $360,000, and
that they are now little less thah
$500, 900. The surplus and nndl-
vided profits within the past two
years have been increased from
$500 to $4,000. in addition .
which IS, 900 was reserved for taxes
and interest at the close of the
year 1920. The deposits in the bank
January /, 1919, were under $50
OOo and have now grown to above
$3.50, 900.
IT was observed by one of the
directors that this bank has redis-
counted no notes and Is in an ex-
cellent condition. The hope was ex-
pressed by the officers of the bank
that the $1,000,oo0 mark would be
successfully passed before the close
of the present year.
The State National bank and the
State bank and Trust company re-
elected the old boards of director.
Some of the directors were abser
from the city and the annual cleo
tion of officers was not held. 1t
was stated that special meeting
would probably be called the latter
mart of the week fer the election OF
officers.
1--WE had very prosperous
year" said J. B. Herndon, presl-
dent of the State. National bank.
"Two dividends of 10 per cent
were declared during the year ana
$4,000 was added to the surplus
of the trust company" .....
Following are the directors OF
the State National bank: T. j.
Ross, M. X. Wylder, G. A. Kase-
man. Dave Farr. 0. N. Marion, Roy
Mcdonald, r. M. Merritt, Jerre
Haggard and J. B. Herndon.
Directors for the trust company
are Kaseman. Ross. Marion, NC
Donald and Herndon.