The Brunswick news. [volume] (Brunswick, Ga.) 1906-2016, 1921-05-10
rHE BRUNSWICK BANK MERGER

luS lutefeStS IN the community Is al
ways one of such delicate nature, in
which all the people have material
interest, that the subject is always
and properly SO, to be discussed and
to be handled with an abundance OF
care.
Frankly. it is not the very best sort
| of a sign Of the times when any city
under any set of circumstances, loses
one of its largest and best industries;
| it does not matter whether it chances
to be banking concern, or any other
commercial enterprise the fact that a
vacancy is to exist in that particular
line is not desirable, and as an an
stract proposition is to be more OF ess
regretted.
In the case OF the consolidation nf
the Brunswick Bank & Trust Co, and
the Glynn County Bank, news Of which
was carried to the people in these col
umns Sunday morning. we are striv-
! ing and hope that in the end it will be
| best for the city, and for the citizens
| of Brunswick, who are interested in
| BIZ mixing property. That the announce
ment occasioned genuine surprise in
all sections of the city, and consider
able regret in many sections of it,
| 10
Ii is true that among the small bus
mess people of Brunswick and num-
| Der of the larger ones there has been
created in the past fourteen years a
profound sentiment in favor of the
Glynn County Bank; it has been re-
| garded as the bank in Brunswick
where men and women of small finan-
cial means could, with reasonable as
surances of success, seek financial &C
the bank of personal service" and
around its management there has
been built up in Brunswick tender af-
lection for it and for the purpose it
j has served
=, However, conditions have been cut
of adjustment for many months; the
country still reels from the stunning
blow delivered by the world war. Ev-
erywhere there has been merging, con-
solidation, liquidating. and even fail
Ures. in the banking W rid. This is
not hard to understand, when we re-
| fleet that the volume of business in
this country has, within the past
twelve months, been curtailed by at
| least seventy-five per cent What has
happened everywhere did not escape
Brunswick, and this step is probably
the best one that could have evolved
out of the situation
The Glynn County Bank stockhold-
ers will receive fairly good return on
their investment inasmuch as the ba-
| sis for the consolidation was made at
the rate of $1.S5 per share on Bruins
wick Bank and Trust Company stock,
aud $40 a share on Glynn County
Bank stock, this being the book value
Of the two stocks in accordance with
the latest statements published by the
two banks.
As to the fuutre. and as to whether
we will have another bank in Bruins
wick in few months depends largely
upon the policy of the present banks
more especially the Brunswick Bank
and Trust Company. Many Brunswick
ians will remember the conditions that
demanded, and brought into being, the
Glynn County Bank; it was the lack of
Willingness On the part of the banks
of that day to extend proper accom-
modations to the business man and wo-
man OF limited means. 1t was due to
a sort Of passive understanding be-
( tween these two banks as to who
should and who should not be, among
the favored ones in the matter of re-
cciving financial aid and cooperation
| If the Brunswick Bank & Trust Com
pany will adhere to the obligations it
| has assumed in the consolidation: if
| it will serve equally and consistently
ali of its patrons, if it will be, in reali-
ty, the bank of the people, wherein
| there shall be no discrimination but
fair, consistent banking handed out
to all people in the same ratio then it
viii succeed and Brunswick may be
| able to navigate with its present bank
ing capital
We understand that in this merger
the Brunswick Bank & &Trust Com
pany has obligated itself to do these
very things we have named, and in ad-
vance, and in the good of the cause,
| for the best interest of all Brunswick,
we very earnestly hope that these oh
| ilgatiOns will be discharged.
The consolidation makes the Bruins.
wick Bank & Trust Company one Of
the largest banking concerns in South
east Georgia, and it has an opportnui,
! ~ tn PROV and dovnlan and r., I,ooon,.,