Richmond planet. [volume] (Richmond, Va.) 1883-1938, 1922-08-18
The Resolutions Adopted at the City Auditorium
ABSOLUTE HARMONY PREVAILS--WANT THE BANK OPENED


a lagrcly attended meeting OF the
depositors Of the Mechanics Savings
Bank was held last Thursday night at
the City Auditorium. Rev. w. n. john
son, ID. d., pastor Of the First Bap.
list Church presided. Music. was furn-
ished by the Municipal Band. Prayer
was offered by Rev. j. o. Cook. Chair
man Johnson then announced the pun
pose Of the meeting. He called for a
report Of the committee previously
appointed, Of which Attorney J. Thorn.
as Hewin was Chairman. He mado
the following report:
We, your committee appointed at
your meeting held Friday night July
21st, 1922, in the City Auditorium,
beg leave to make the following re.
port:
We find that while we expected
otherwise the receivers who were ap.
pointed by the judge Of the Chancery
Court, His Honor, William A. Mon.
cure. have been unable to complete
report within a brief period Of time rs
was expected, due to the constituting OF
tire order Of the court to mean that ais
the pass-boolSs must be turned in -
the receivers at the bank and a report
made thereon to the court, and that
there arc Hundreds Of depoSitors un
willing to part with tho pass hook,
which is the evidence Of the liability
OF the bank to them, and that this
would mean months Of delay.
We are OF The opinion that the bank
should be opened and the president
of tile Mechanics Savings Bank be pc.
mitted to comply with the require.
ment Of the Banking Division of tho
Corporation Commission IN the deliv'
cry Of tho required securities of ($S3,
100000 Eighty-threc Thousand Five
Hundred Dollars in the meantime aft
er, the bank is opened, the passDooks
could be turned in from time to time
and balanced. We learn that the prob
able liability on any pass-book can BIO
secured by a bond to be given in such
an amount as the honorable court may
see fit to require.
AS many Of us are in need Of money
to pay our expenses and many organi.
cations are held up on account Of the
inability to pay sick and death claims
and many others have money to be de
posted for safe-kecping and cannct
utilize the facilities provided by the
institution with which they have been
doing business for SO many years, Ii
was deemed advisable to file a per,.
ton and plea with the judge of tho
honorable court, asking that the Off.
GERS and stockholders of the afores,tin
Mechanics Savings Bank be permitted
to open for business along the lines in
dictated.
We further pledge ourselves to use
our best efforts to prevent anything
even resembling a run" on the af0re
said institution as we realize THAI
such a step would tend to destroy one
Of the leading institutions in the coun
try, which institution is a monument
to the far-sightedness Of the better
class OF white people who have shown
MS the way to practice economy ami
thrift in this life's battle. We ask that
our course in this matter be approx.
ed by you, and that all depositors be
urged to join in this petition for tho
relief prayed to the end that the I'M
fortunate conditions now existing
shall cease.
We further commend the steady de
votion Of the colored people to the
Mechanics Savings Bank and the un
animous support and encouragement
accorded 1t by all other financial in.
stitutions in this city and State. We
again emphasize our appreciation Of
the hearty expression Of goodwill and
support accorded to us by practically
all Of the white people Of this COM
munity and assure all parties that it
has done more to cement the friend
ship previously existing between the
races than any other thing could have
done.
Respectfully submitted,
J. W. THOMPSON,
J. o. COOK,
J. II. BINFORD. .