The Freedmen's Savings Bank

Bibliographic data

Monograph

Identifikator:: 175265076X

URN:: urn:nbn:de:zbw-retromon-129631

Document type:: Monograph

Author:: Fleming, Walter Lynwood http://d-nb.info/gnd/120660560X

Title:: The Freedmen's Savings Bank

Place of publication:: Chapel Hill

Publisher:: Univ. of North Carolina Press

Year of publication:: 1927

Scope:: x, 170 S.

Digitisation:: 2021

Collection:: Economics Books

Usage license:: Get license information via the feedback formular.

Chapter

Document type:: Monograph

Structure type:: Chapter

Title:: Chapter V. Mismanagement and other troubles

Collection:: Economics Books

64 THE FREEDMEN’S SAVINGS BANK Question. I understand you to say that this money was the joint earnings of yourself and wife? Answer. Yes; she took in washing, and worked day and night, every day for the whole year. 1 have never been to a picnic or a ball since I have been in town.” The table below gives the list of branches where shortages were discovered by the inspec- tors before the failure of the bank. SHORTAGE AT THE BRANCH BANKS Branch Cashier Shortage A Rn, ee ts width wal DEVS ho set iatim ortaiabbiicias A 8.000 Beaufort... rus rar nes os RSEOvelii iL. [ih eae 104000 eautort cove. {1000 Mobile. ................v., A Woodward... .............. 0 3,375 New Bern. .oi0 ide Neon. LL one 250 Wilmington... iu... «con ovo BVeCumber. J. oo vv. oi 183,000 INGORE... oh ohn ns EMOTARI Lo iy id abies wiivieal 1,125 Jacksonville hin vivinr i EON. ait oie airy as {1 Nashville... i no a Ray, i Bi. vei 1,000 Vicksburg no. arta oollee ns cnn Sl orn ns aa 11.000 LynehbBurg., i. coi ie BIONOARH.. i i sie bali 900 Lexington, Ky. ...- +2 Hamilton. 00 oo 5000 Montgomery...................- Beecher. .................J 29,000 18,000 It is not possible to ascertain from the records exactly how large the shortages were at Beaufort, Jacksonville, and Montgomery; in the table the smallest and largest estimates are given. There were shortages at other branches than those named above, but they were adjusted. It is probable that much of the deficit at the honestly managed branches was due to poor bookkeeping, too large payments of interest, unnecessary ex- penses, and inexperienced clerks. NEGLECTFUL AND UNFAITHFUL TRUSTEES Another cause of weakness was the gradual 4 Ilo, Report No. 502, 44 Cong., 1 Sess., p. 29. 16 Douglas Report, p. 5. ET

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