Amarillo daily news. [volume] (Amarillo, Tex.) 19??-current, 1921-02-20
AMARILLOHASMANY STRONGBANKS
GUARANTEES STOCK
RAISED TWO TIMES

j. IL. Smith, chairinan OF tho board or
directors Of the Guaranty State Bank Of
Amarillo. In May. 1858. opened the gen.
eral mercantile business Of Smith.
Walker a Co. which company. In add.
ton to selling supplies to the whole Of
the Panhandle territory. also did a prt
vate banking business. In 1893. 10
pronounced was tho need OF Amarillo
md the Panhandle. Plains for a first.
lass hank. MIR. Smith. together with
y. c. u. Bynum and other associates.
,rganizcd the National hank Of Com.
nercc. which gathered strength from
'he first. and II now one of tho most
aourishing and successful banking In
s'i'vtlons IN Yves. Texas.
Late In 1915 the Smith and Bynun
interests Ia the National Rank ~ Com.
nercc were sold. and early In 1916 the
Guaranty State Rank was organized
md charter secured Tho organize.
lion OF tho new bank was comprised
v J. l.. Smith. chairman ~ tho board
u directors; II. c. u. Bynum. president;
=. NJ. Mccullough. vice president. and
:. i. Elliott. cashier.
on June IL. 1916. little lers than
1--WE years ago. the Guaranty State
'ank oponed lite doors for business
more than $4,000 were deposited In the
hank the first day. Much 81 the In.
innt prosperity which fell 20 the new
'1nk was due 10 the fact that the stock
rns 50 generally distributed among
rorth while men. both In Amarillo
'self and among prominent farmers
ID ranchers In the surrounding trade
'rritcry. The stockholders nj the star,
numbered fortyfour. The hank was
capitalized at SIS. 5000 when opened.
The Guaranty State Bank had the
1osi unusual experience 81 being In a
osiiion 10 pay dividends from the frs,
ear. At the end of 1916 the hank do
Jared semi'annual dividend Of four
'er cent. and since that time has never
Ripped n dividend. and they have been
Increasing steadily In size from yea,
% year
The capital stock Of the new hank.
which was $4,000 when II opened, has
vice been Increased. first In 1890 10
100000. and then again this year a.
nss.ooo. These increases were made
necessary by the Texas law which pro
vidcs That when the average deposits
v n bank for a year exceed ten times
Tho capital stock. that hank must In.
'rcasc i,s capital stock nj loast twenty.
i've pcr cent The latest Increase in /
capitalization was made In tho form /
u as stock dividend to stockholders. |
These successive Increases In capital
took are pointed "a by officials OF the /
hank as evidence that the business Is /
xnanding steadily.
There has l-ecn practically no change /
n the personnel OF either tho s,ockhold. |
IN Of IN" hank or ol its officers. The
most recent additions 10 the list of .
stockholders are Judge J. C.. Paul. the /
lean % Panhandle bankers. and J. N. |
'aul. his son. Roth have acquired [
substantial holdings In tho hank, and |
'. ". Paul has been made an active
'icc president.
The boanl Of directors as az present
onstituicd consists Of: n. c. u. Bynum.
resident; J. L. Smith. chairman 81 the
'oard; ]. IT, raul. active vice president:
:. VI. Mccullough. active vice president:
md cashier: ". A. Jeffrics. assistant
ASHER. and T. ". Landergln. W. u. ~ I
en-. otis Truluve. Charles Dammcicr
!. y. Bowie. Earl Cobb. and J. G. Paul.
Stockholders consist of tho members
4 the hcard of directors and: Mira
Florence Pickett. Aubrey s. Cousins,
J. II. naker. Mrs William T.. IIopkina
Miss Nel,a roagr. William =. Hopkins.
!. ~. Madden. Estate Of Oscar cous.
ms, W. l.. Danver. Mrs. S. T.. Putty.
cr0mcr Mrs J. y. McGrcgor. T. NJ.
'alhwcll. sam u. Mo,low. q. NJ. Solo.
non. IL. a. Mobiles. n. V. blackwell,
:. u. Adams. Jennie Lev Mccullough,
lane Mccullough. sharpe Mccullough.
:. \. J.. Parker. Henry l.. Ncusch. !. I
Z. Thompson. George Mcnke. Horace
tooch. W. J. Tollcrion. NJ. !. Dunn. ".
I. Mcdaniel and &. y. Mayer.
The prugrcSs II the hank and the fact
hat II stand IN the from, rank OF Anna.
fllo's substantial and progressive Il.
nancial institutions evidences correct
NJ liberal policies.