Hickory daily record., 1922-01-06
GIVE DINNER To
D|RECTORSQ QE
BANKS

Entertaining at seven course din
ucr at the Hotel rIuffry last night
President j. u. Elliot ard Cashe
Is. G.. Menzies Of he FIRST N%ticna
Bank gave pleasure ana information
"a the directors and their wives, Of
ficers and employees Of both the
First Security Trust Company ani
several invited guests. The hanQuo
lasted frCm until II and there
were no dull moments. IT was the
finest oinner Manager Henry Tucker
his served at his hoelt and was
thoroughly enjoyed
Guests were presented with Jump
ing dools harps, small savings banks,
tops and other toys and in addition
each of the 100 diners found ut his
plate on the new peace" dollars. IT
was explained by ChaS. w Bagiy
th@t new dollars are coined about
every - years and guests Of MeSSrs.
EliC,t and MenzieS receive onr-third
Of the lot allotted to this bank. The
peace dollar originally showed an
care crashing broken sword, but
a- the sword was not entirely broken
at the peace conference. the c"glc
was allowed to release it.
Guests wer met in the hotel lobby
hv the hosts and shown TO the dress
ing rooms and for half an hour be-
fore the dinner there was mngling
and couvcl sation. The real surprise
came Whc the uncrs. generally pay,
np for the privilege Of eating, found
The added inducements at thrlr
lates, 4 fact which one OF the
peaEcrs. IS. A. Whtener, comment
"a upCl.
President Elliott reviewed the his
tolq of the First National SINCE !tiI
organization 81 years ago, told 81
Hs goWth and place III the NE q
Hickory and this section and then
0lncd the meeting over 70 W. y
self who Is candidate for official
tcaytmaster at all former dinners.
NIi Self showed a great deal OF
Knowledge Of banking, but it remain
10 FOR Rev w. X. Bradshaw, VINO
mad conferred with a Record man t"
give the correct wording ON Slip
80 paper which the cashier occasion
aIly sends to such of the depCSitoIs
Who think that as long as they have
blank checks they can draw out mon
rs Mr. Self spoke Of the service rem
urrede by this bank aud then gained
upon Judge f.. B. Cline, whG discuss
I'd hIcfv the trust feature OF banks
Judge Cline referred to the conf
dcl.e the public hiss in the FIRST Ma
aenaI and commented on the 1acI
that two Of its Officers, MeSSrS' !
Elliott and MenZies, have been WIN |
il from It's organization.
A. Shwng the strength OF INC ~
.titation. the speaker said that IN /
H. depression Of 1908 his bank never
issued any script but pald Cut EG''
mency throughout that trying peFIoo (
Rev Sam Il. Stroup enhanced ms
reputation rs 4 humorlst oY some
.DIendid Jokes and then discussed
briefly competition and ccopciatioh
I'LL annIiod to business. He SAID thal
competition carried to itS loglcal cor
.lu.jou was ruinous. and not the NE
If traue, but that. cooperation lS
new sgent in commerce tor the goou
III the many. As an example ne re-
fuled To the cooperation or tnc
First National with the people OF
M. section and showed what force
Il had been in the upbuildihG Vi
Hickory and this community,
Those who did not know thnt tne
FIRST hank was established in Venice
In 1856 and had little ether informa-
iiop about the origin Of the English
banking system many years later
wore friven a bit of history that
changed the world by A. A. White
Nor Who also told of the service rem
derad This community by the First
National end paid handsome TRIBUTE
hi those who are associated WIN IL
and told how manufacturing plants
II arn11nI IL IckCrV ; |
big bank.
Expressing the hope that the ban
uupt will be q yearly affair ana DE-
rIorinq his readine son the instant
IA accent another invitation, Rev. w.
4 bradshaw voiced the pleasure OF
tho other guests and moved that
yote of thanks be given Messrs. FL
lott and MenZies. This was done with
will. ,,.,
AAll during the evening the HEX
,rv orchestra rendered fine music
Gives History Of Bank
President ]. d. Elliott, in his ad-
dress, said in part: ,,:.,.
The First National Bank OF Hlck-
orv was organized and opened Tor
business in July, 1891, llttie over
thirty years ago, with capltal oA
500 900. vi the oTlSiiiai i'N'' P
tors, only four survive.
In 1909. our deposits had reacheo
the sum Of 100000, with total as
sets OF S3l5,000. In orGer to take
care of the growing needs OF the
community, it was decided to increase
the capital stock to $75 900. por-
zion of this stock was taken up by
number Of new shareholders, ana the
number of directors was increased,
Again in 1907, when our deposits
had grown to $2s0,C00, and totH.
assets TO $500 100000. the capital stock
was increased to $200,000.OO, this
stock being distributed among more
than one hundred shareholders. ~
IS interesting to note that at the
time Of our first increase, the total
~ our deposits was just about the
same as Il good days business Tor