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TO INCREASE CAPITAL STOCK.
Merchants Bank, of Bay St. Louis, | Contemplate An Immediate Increase in Its Capital Stock To About Half or Once More Its Present Figures—This Will Be Done To Accommodate Constantly-Increasing Business.
A regular monthly meeting of the Board of Directors of the Merchants Bank was held last night at its banking house, and among other business transacted, it was seriously ‘ contemplated to increase the capital stock of the bank from $20,000 to $30,000, or double the present amount of capital stock if that should be found necessary in order to expedite the ever-increasing business of the: bank. Th'e matter was thoroughly discussed last nigh pro and eon at fir,st, in order to get both sides of the proposition and after carried unanimously.
It was ordered a special meeting of the stockholders of the bank be called for the first Wednesday in March, when the proposition will be put forth for their consideration and adoption.
It speaks well for the city of Bay St. Louis that it becomes necessary that its banking facilities be increased, notwithstanding the cry of the anti-prosperity howlers. The Merchants Bank, ever since its very incepiency some five years since, has! been a success, and today its management finds business coming so much its way, business being offered it -almost daily that it cannot well handle for the want of facilities, so ! as to make the increase in its capital stock imperative. It is proposed, in its usual conservative manner, which has characterized its stfccess all along, to widen the scope and expand the business of the Merchants Bank, and a campaign towards this end is on foot. The success of the bank, the fine shape in which are its finances, the bright prospect of considerable new business, is an incentive for the move and thus encouraged the -ftork will be pushed through.
The Merchants Bank is officered as follows: /R. R. Perkins, president; Jos. O. Mauffray, vice president, A. L. Stokoe, vice president; Geo. R. Rea, cashier; John B. Spotorno, assistant cashier. Board of Directors: R. .R. Perkins, Jos. O. Mauffray, A. L Stokoe, J. A. Breath, Jno. Osoniach, L. M. eGx, C. G. Moreau, Dr. R. de Montluzin, W. H. Gordon, Chas. L. Hopkins, John K. Edwards.
At a special meeting of the stockholders of the Merchants Bank held on Wednesday night, it was voted to increase the capital stock of the tank from $20,000 to $30,000 at once. It is the intention of the directors to form a Greater Merchants Bank, and this is the first step in that direction.	I
________	I
Merchants’ oanic aiecw	(/r?
Annual Meeting.
Bay St. Louis, Miss., Oct. 10.—The regular mnual meeting of the stockholders of the Merchants’ Bank, of Bay St. Louis, took place • last night. The following officers were re-elected: R. Perkins, president; Joseph O. Mauffray, A. L. Stoker,	J. A. Breath, C.	G. Moreau,	L. M.
Gex John	Osoinach, Chas.	L. Hopkins,	r*ogi.*r
de Montluzin, John K. Edwards, E. N. Haas, board of directors, with Geo. It. Kea, cashiei, John ».•- Sportono. assistant cashier. lue closing year has proved the most profitable since the -organization of the bank, six years ago, not only In gain of new business, but also m increase of earnings. The books showed a net earnimr of 30 per cent, of which a dividend of 10 per cent will be paid and 20 per cent passed to	surplus account.	The capital	of tua
bank will	be Increased by	$10,000 at an early
date to meet large demand for Its stock.
BAY ST. LOLIS.
Merchant!.’ Bank Records Most Prosperous Year in Its History.
Special to The Times-Democrat-
Bay St Louis, Oct. 10.-The annual meeting of the stockholders of the Xlei-chants Bank of Bay St. Louis took place last night. The bank enjoyed its most profitable year since its organization, sjx years ago. not only in gam of new dum--ness, but also in increase of _ earning. TUe hooks showed a net earnms of 301 oer cent, of which a dividend of 1U pei cent will-be paid and 2U per cent passed, to surplus account. In °*der.t0	i
large demand for its stock, the caPlJ|l* ; will be increased by $10,000 at an earlj
^AU officers were re-elected, and the name
of Mr. E. X. Haas added to the Boaid
°vAccording3 to a report received here to Qight. an unidentified white man was fatally stabbed by Arthur, and Randolph , Brewer negroes living'at Moss Point. , The stabbing took place on the Jordan j river a few miles above this city No'further details have been obtained.
ed^e,ftevhant3 Ban¥haS distin^h- f 0V f t .yearin the selection of a' ■ calendar for its patrons and friends. The
Picture selected to adorn the 1910 calen-.
dar represents a lovliness of femininity,! as the poets put it, done in water color! and painted by hand- The bank assumed an unusual expense this vear in! the selection of its annual greeting and ! has stepped aside from the mereconven-
esapnt- <^i'm for soraet^ln3' particular and essentially artistic. Mr. Rea, the eash-
SinheV0* b>' halTCS>
I for	Pr!°Ven	the	“"^eptional,
, for thanks to his artistic temperament and eye for the things that are of beauty and a joy forever, he has given the
f^Tand°f' bMk “ eVid6nCe 0f this
tS 11 •	Same time a calendar
that will inspire the business man at his
d^k; a calendar that will do well to ! ornament milady’s boudoir. 7^ \
jping abreast with the largest and successful banks of the country and fol-owing a policy adopted by the safe and conservative banks, at the annual meeting of the Merchants Bank last October, a resolution was adopted where-\ by the bank should be audited by a firm ! of recognized certified accountants, to ! be selected at a subsequent meeting of the board of directors. Since the State of Mississippi has no traveling audi tors similar to those of the U. S.'.government, who visit periodically all national banks, and, since the Merchants ' Bank had been in existence over five years without one single loss and its books and accounts have been in so fine a shape, it occurred to the bank that it would be a source of great satisfaction and an advertisement of enviable worth and value to have this “house-in-order” condi -tion verified by outside experts, hence the audit. Accordingly, on the order adopted at the annual meeting, the services of Messrs. Hart, Bienvenue & Daspit, certified accountants#of New Orleans, with a national reputation, were secured, and during the week these gentlemen completed their labors. Their work extended over a period of two ! weeks, and the result of their labors has been such that Cashier Geo. R. Rea and Assistant Cashier John B, Spotorno have come m for a large share of praise and congratulations on the excellent and accnrate shape in which the actiye affairs of the bank have been found. A certified statement of the bank’s condition, as found by the auditors, will be punished in the near future. The bank is in a most prosperous condition, and the directors and stockholders are justly jubilant. R. R. Perkins is president; Jos. O. Mauffray and Dr. Rk.de Montluzin vice presidents.
Merchants’ Bank of Bay St. Louis Prosperous.
■The 24 per cent net dividend declared by the Mer> Bank, Bay St. Louis’ second banking institution, ha: the subject of muck favorable comment, and speak not only for the management of the bank, but also J prosperity of the city. Ten per cent of this dividei been ordered to be paid in cash to the stockholders a balance of 14 per cent to be passed to the surplus a The following Board of Directors was re-elected:	C'
Hopkins, L. M. Gex, J. A. Breath, R. De Montluzin, t Rea, Chas. G. Moreau, Jos. O. Mamffray, A. L. Stokof Osoinach, H. H. Gordon and John K. Edwards. Mr L. Hopkins was elected president; L. M. Gex, first vie dent; Dr. R. De Montluzin, second t vice-president; Rea was re-elected cashier, and Mr. John B. Spotc elected assistant cashier. This is the Merchants’ Ban! year, and each succeeding year it has declared a dividend. By the first of the year the bank will be d *n its handsome new building on the cornr of Front a road streets, which is fast nearing completion. Mr Fairchild, of New Orleans, was the bank’s first preside. Mr. John Osoinach, of Bay St. Louis, as his succe: .the second yfar.