Smyrna times., 1926-07-21
KENT BANKS WILL GIVE AID
TO DEL-MAR-VA ASSOCIATION
PLEDGE SUPPORT AT DOVER
UNDER REVISED BUDGET
To Spend $4,000 for Two Years
$4,000 will go to Main Body and Re-
mainder for Local Publicity

Representatives of nearly all the Ii
banks and trust companies of Kent
county, at meeting in the Robbins
Hose Company building at Dover on
Tuesday evening of last week to
which every officer and director of the
county's financial institutions was in
vited, voted their endorsement of the
plan for a Kent county unit of the
Del-Mar-Va Association, and a revis-
ed budget of $4,000 a year for two
years, $4,000 of this to constitute
Kent's support of the main Del-Mar-
Va organization and the other $4,000
to be expended entirely within the
county, on the local followup on the
Peninsula publicity and development
program.
The meeting was presided over by
J. Henry Hazel, Of Dover, chairman
for banks in the county campaign or
ganization. The following subscrip-
tions (on yearly basis) were report
ed by the banks represented: Farmers
Bank, of Dover, $43O; Delaware Trust
Company of Dover, 5000; Clayton
Bank, $50; Fruit Growers National
Bank Of Smyrna, 500; National Bank
Of Smyrna, $10O; total, $3.50.
On this basis, County Chairman
Harmonson estimated that the banks
and trust companies of the county,
when completely in, would contribute
an aggregate of between $1,000 and
$4,000 to the joint county-Peninsula
fund. This compares with a total of
S2,122 contributed direct to the Del
Mar-Va Association by the banks and
trust companies Of Sussex county, the
list being headed with a $600--a-year
subscription by the Milford Trust
Company.
Speakers at the meeting included
Fred P. Adkins, of Salisbury, presi-
dent of the Del-Mar-Va Association;
w. S. Gordy, Jr., State Comptroller
of Maryland and Harvey J. Hill, di-
rector of the Del-Mar-Va Association.
Mr.. Gordy, whose bank, the Salisbury
National, is subscriber for 5000 a
year to the association, pleaded for
banking leadership in the Del-Mar-Va
movement, not alone for the sake of
the money return from bank subscrip-
tions, but because of the influence
such support had on the busines men
of the community.
On motion of Lieut.. Governor J.
Hall Anderson, seconded by Henry
Ridgey, is was declared the sense of
the meeting that the representatives
Of the banks there present approve
4I,a 1,,Ily.-o L.
ed budget Of $4,000 as a conservative
estimate of the needs of the move
ment in Kent county.
Banks elsewhere in Delaware and
Maryland have been subscribing to
the fund on the basis Of one-ffth of
l per cent Of their capital and surplus,
as banks on this basis having sub
scribed S9,459 direct to the Del-Mar-
Va Association, these subscriptions
representing banks with a total cap
ital and surplus of $5,022,0OO, and
with deposits of $28,501 ,OOO-the sub
scriptions therefore representing al
most exactly one-twenty-ffth of 1
per cent of the deposits of the 46
banks.
The subscription of $43O announced
by the Farmers Bank Of Dover, is
based on one-ffth Of / per cent Of the
43 per cent Of the banks capital and
surplus which is not state owned, it
being the judgment of the bank board,
as reported to the meeting by Henry
Ridgely, that the directors were not
legally permitted to vote such an as
sessment on the portion of the capital
and surplus represented by State
ownership.
The $3.50 Of bank subscriptions an
nounced brings the county total to
$6,925.