Richmond planet. [volume] (Richmond, Va.) 1883-1938, 1926-06-12

RlcunOnu, va. ..xS,99S.I5
metropolitan Bank and
| Trust Co., Norfolk, Va. 4O1.25
1 Commercial Bank and
Trust Coz Richmond, Va. S,S93.19
Garter is president of this bank)
Second ST. Savings Bank,
Richmond, Va. -. -. 2,34O.72
Wage Farmers Savings
Bank, Savannah, Ca. 5 1888
Total in Colored Banks s2O,S23.74
Note the differences. Also note the
locations of these banks. Only one
bank outside of Virginia, although
the money from the Eks comes
from all over the world. No wonder
Richmond can entertain us SO royt
ally. 1t ought to do SO. We are
paying for it ourselves. No. wonder
Brother Carter can. boast of his
wealth and his large number OF en-
ployees. The free use of that mucn
Of somebody elses money will make
anybody "big man in his loca ity.
Why could he not put some of that
money in the Douglas National Bank
OF Chicago, or the Binga State
Bank or the First Standard Bank
at Louisville, or the Mechanics Bank
at Durham. N. c., or the Citizens
Trust Co, of Philadelphia. or the
One Cent Bank at Nashville or
many other strong, safe, conserva-
tive banks? 1t was concentrated at
Richmond for purpose which is
not hard For even a layman to see.
Brother Jimmie says I claim credit
for the deposit at Savannah. Yes
l do, DR.. Clayborne made the re-
quest of him and Bates at Chicago
III 1921 1t was promised, like
Bates has way of promising any
thing to shoe opposition away
from himself. Clayborne asked me
to hep him in the matter and did.
Had l not followed UP, runnins
down a net work of lies by both
Bates and Jimmie, in which they
sought to lay the blame of the fail
ure to make the deposit on Grand
Exalted Ruler Wilson, who was out
Of the Country the deposit Won d
never have been made. The deposit
o. $4,000 was not made until over Il
year afierward, Notwithstanding a
bond securing the Grand Lodge
against loss had been executed.
passed on by Brother Carter, inves-
tigated and found sufficient nearly
a year before.
l insisted on bond, being given
to secure the Grand Lodge, and it
was given. / believe in proper safe
guards, and l ask right here, did
Brother Carter insist on bonds from
the other banks? He says I opposed
him. and 1 Id, cot for the failure
OF two colored Virginia banks, but
for his hypocrisy in pretending to
make good a loss which he knows
he did not make good, and for his
further hypocrisy in not depositing
in his own bank but at the same
time making the deposit elsew,er ere
where it becomes much more avail
abe for use. More anon
Jimmie attempts to resort to in,
nuendoes and, slurs in his attack on
me- He says at least by implication
that i have Fitted from post to
post, leaving behind dead carcasses
of corporations Jimmie is afraid
to say openly what he implies be-
cause he knows the danger of libel
for that which he cannot prove. I
made no comparison of my record
with his: l had, no fight against him
but since he wants it, let's go. I
began my business career as Cashier
of the Solvent Savings Bank Of Mem
phis, the first bank OF the race to
attain million dollars of deposits
/ was in it from the beginning,
helped TO build it up into a COM
handing position. 1t is bigger and
stronger today than Jimmie's bank,
Notwithstanding it has nc insurance
company to support it and has had
to draw its business out of COM
munity that had no big. bush en-
terprises If that is a carcass, I
don't know one,
resigned from the Solvent,
AGAINST the wishes of the Board, to
he p organize the Standard Life as
the first old line legal reserve COM
pany of the race. And Standard
grew under my joint management to
such a giant that it excited the envy
o. white capitalists and spectators
who in 1925 secured control of it.
They are still running it. although
there is an effort on foot to get it
back. 1t has millions of assets and
millions Of insurance in force 1t
became a pattern for Carter to fol-
low when last year he converted his
own insurance company into an old
line legal reserve company. Ask
those WHO know why / left Standard
and they will tell you that if the
program which I pronounced un-
sound and dangerous had been dis
that institution would
never have been lost to the race
Is there any carcass there Brother
Carter?
Yeah, Jimmie I had to fit and
to fight. I organized the North
eastern Life Insurance Company
with a paid-in capital OF 100000,
i'm che years time, and in the face
of opposition that would have made
you quit. / had the opposition of
your Boss Bates. who took advant-
age of confidential information that
| had given him as a friend and, who
set one of his henchmen to work
to oppose me with a rival institu-
ton But it didn't work His man
Friday failed and / succeeded. While