Richmond times-dispatch. [volume] (Richmond, Va.) 1914-current, 1922-07-27
THE MECHANICS SAVINGS BANK
Baptist Ministers Meet In Special
Session and Unanimously
lndOrSc institution.

\ special meeting of III" Baptist
Ministers Conference Of Richmond
vicinity was held Tuesday, July %.
liaptist church, with Rev. Evans
Payne u. -. presidnet: presiding.
and Rev H. j. Bradford secretary,
following report. which was unani-
mously adopted and which explains
itself
We. your committee appointed at
special meeting of tho Baptist Min
listers Conference Of Richmond and
vicinity. held on call "f our president,
Rev. Or. Evans Payne, Tuesday. July
-. 1922. at the Ehcnczer Baptist
church to take some action in the
matter Of the closing temporarily OF
the Mechanics Savings Bank by the
banking Division OF the state Cor
poration Commission. beg leave 10
report that We find that in all OF our
churches. sunday, July 10. laa2. the
pastors discussed III" matter aud eN-
president OF the Mechanics Savings
Bank and It's officers. and urged their
hearers to suspend Judgment assur-
ing them that the bank had ample
assets to meet all of it's obligations
and TO pa! all Of its depositors III
full.
We find that this had n most quiet
ing effect and that AS a result. on the
following Monday. no excitement was
in evidence AT the institution, and
the squad OF police officers who had
been stationed in the neiEhborhood
found that they had absolutely Moth
ing to do and we're withdrawn,
Your committee found also that the
white press, the Richmond. Va,
Times Dispatch. the Richmond Even
inc Dispatch. the Richmond News
and gave out Information that did a
world Of good" in restoring the con-
tidencc OF our people.
Coupled with this was the friendly
a Of he u al
~ in their homes. where they en-
rloycd servants. and in their mills
and factories and places OF business.
which aided in this work.
The browning act came when Col
oncl Thomas u. McAdams. president
Of the American bankers Associa-
president of the Mechanics Savings
Eank. Is the only active colorcd MEM
her. upon an appeal made TO him d-
rccted that Colonel w. NJ Addison
pre- sid.nt OF the Clearing House As
Suciation OF Richmond. lie requested
10 call a meeting Of that association.
and. II the bank MAS solvent. to loan
u the amount necessary to relieve
The situation.
This WAS done, and El00 100000
one hundred thousand dollars were
pledged to reli'N" IN" situation. We
are glad to report that hundreds Of
| ~ for IN" OPENING day TO Put money
INTO the Mechanics Savings Eank in
stead OF drawing IL out.
We report also that the colored
business institutions. societies and
iraternal bodies have expressed their
confidence in tn. Mechanics Savings
Bank and other banks located in this
city, aEd'that there is no evidence of
amy run" on any OF them as Il result
OF TINS unfortunate occurrence.
We therefor" recommend that il is
IN" sense Of this conference ina,
vote uf thanks h.. extended To the.
n "a "a In no, nj
ana comfort. ana TO Colonel Thomas
b. McAdnmS, president OF the .tmcri-
can Bankers Association. Colonel w
I VI. Addison. president "f IN" clearing
inusc Association Of Richmond tin"
Inflated banks thereof the special
committee appointed by the associa-
'l"n' ana brinS advised that Hon.
I Oliver j Sands. president OF the
American National Bank. has done
much for The Mechanics savings
Bank anu It's thousands II dcpUsIorS.
~" include him ana his institution.
/ me daily press. IN. color"d press.
/ business ORGANIZATIONS or our pcopl,.
I inSurhnc" companies and fTatcrnal
orders and other bodies and indiN!d-
uais who nav" aided IN this work Of
ne regeneration of the bank.
learning that t." completion OF tho
audi viii bring about the rc-openir.,
"i inc hanh, ~" urge mat TINS h.
7 lone at The earliest possible moment
I ma to this md ". ask tn. Banking
. 'IvisioH Of IN" state Corporation
+ Commission. and the stat Corpora
/ non Commission. to hasten This
much to- be desired result
We heartily indorsc the proposal
10 max" rally day one Of the f.a-
/ lures OF the restoration OF the man
I aHrm"n' ana control Of the Me
thaniCs Savings Bank 10 our pcopl.
when each Individual Will opcn an
account with III. Institution and
show TO the world that W. have an
abiding confidence In the encourage
mrnt OF thrift amongst tho coIorel
people generally.
signed:
q. .. LEWIS.
&. a. cOERS
/ n. HfkpS