Record Assets

Record Assets Told To Bank Stockholders L. E. Andrews Named Director Of Peonies Bank I All present officers and direc tors were re-elected, one new di rector was added, and unanimous verdicts of “a good year and strong positions" rendered, during annual meetings of stockholders of Farmville’s three banks Tues day. Lester E. Andrews was named as director by stockholders of the Peoples National Bank. President J. E. Garland's report to First National Bank stock holders. given by R. E. Garland in the absence of the president, disclosed payment of $15 dividend per share on capital stock during 1952. Also that $7,382.86 were added to the undivided profit account. Taxes Color Finances The report also disclosed that earnings before taxes during 1952 were largest in the history of the bank, but that present rates of taxation severely limited the actual earnings accruing to capi tal accounts. Dr. W. E. Sm.th presided as First National stockholders con j ierred. Officers, re-elected there are: J. E. Garland, president: R. | E. Garland, first vice president, Walter G. Putney, second vice i president: E. W Sanford Jr., cashier and trust officer: W. K. Carter, assistant cashier and assistant trust officer: S. Bruce Spencer and Mrs. F. T. Wootton,. assistant cashiers. President J. Luckin Bugg de scribed the Peoples National Bank operations the past year as ‘‘very satisfactory" in his report to stockholders. Robeson Portrait He pointed out to stockholders an oil portrait of the late G. M. Robeson which had been hung in the directors' room during the year. Mr. Robeson was president of the bank from 1908 to 1941. Re-elected officers of the Peo ple's were President Bugg, F. G. Baldwin, vice president, I. C Glenn, cashier, and J. M. Wat kins and S. P. Glover, assistant cashiers.