Ray City Investors Receive State Bank Charter

News of  the granting of a state charter to the Bank of Rays Mill was published in the Atlanta Georgian and News, April 28, 1911 — page 3:

Atlanta Georgian and News, Apr. 28, 1911 — page 3
CHARTERS ARE GRANTED OF TWO STATE BANKS

Institutions at Douglas and Rays Mill Are Granted Permits To Do Business

    Two banks were granted charters and another put in its application to Philip Cook, secretary of state, Friday morning.
A charter was granted to the Bank of Douglas, Coffee county, capitalized at $50,000, with the following incorporators: Cr. Tidwell, F. Willis Dart, Elmo Tanner, all of Coffee county.
The Bank of Rays Mill was chartered with a capital stock of $25,000, and another financial institution to Berrien county. The following are the incorporators: J.S. Swindle, J.H. Swindle, M.T. Bradford, W.H.E. Terry, R.M. Green, and J. F. Sutton, all of Berrien county, and B.P. Jones, C.L. Jones, C.L. Smith, and J.B. Griffin, of Lowndes county.

The bank opened its doors for business on August 14, 1911.  Later, the name was changed to the Citizens Bank of Ray City.

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