Home / Full timeline / Lorimer Douglas Milton, one of the nation’s leading Black bankers, dies in Atlanta, Georgia, at age eighty-seven.
Lorimer Douglas Milton, one of the nation’s leading Black bankers, dies in Atlanta, Georgia, at age eighty-seven.
1986 (Feb 8)
Lorimer Douglas Milton, one of the nation's leading Black bankers, died in Atlanta, Georgia, at age eighty-seven. Milton was born on September 3, 1898, in Prince William County, Virginia, to Samuel Douglas and Samuella Anderson Milton. He was raised in Washington, D.C., and attended Brown University in Massachusetts on an ROTC scholarship. After receiving bachelor's and master's degrees in business from Brown in the 1920s, he began a long teaching career at Morehouse College and Atlanta University in Georgia. He retired as director of the Graduate School of Business Administration at Atlanta University in 1955. In 1921 Milton began working in the Citizens Trust Bank of Atlanta, one of the nation's oldest and largest Black financial institutions. He was elected president of the bank in 1930 and served in that position until 1971. At the time of Milton's retirement, Citizens Trust Bank had assets totaling $30 million and had established “a reputation for having opened the doors of the credit market to Blacks.” Milton had served on a number of federal banking committees, including the advisory board of the Commodity Credit Corporation, which had responsibility for financing the government's farm price-support program. He also served on the president's Committee for the White House Conference on Education in 1955; the Federal Advisory Council's Social Security Board; and the National Commission of Economic Development in 1963. In addition, Milton was a former chairman of the board of trustees of Howard University.
References:
- • Hornsby, Alton. Chronology of African-American History: Significant Events and People from 1619 to the Present. Detroit: Gale Research, 1995.