Evening Republican, Volume 17, Number 20, Rensselaer, Jasper County, 23 January 1913 — FARMERS STATE BANK IS BEING ORGANIZED [ARTICLE]

FARMERS STATE BANK IS BEING ORGANIZED

J. D. Allman, R, A. Parkison, A R. Kresler and Rowles & Parker • to Be Interested. For a month a movement has been on foot to organize a fourth bank for Rensselaer and in deference to the wishes of the promoters ho mention had been made of it by the newspapers hitherto. Now, however, the movement has taken such substantial shape that The Republican has been granted an interview by the leading promoters and is able to give to its readers all of the substantial details, except one or two things that are deemed important to keep secret at this time. The bank is to be a state bank and will probably be named The Farmers State Bank of Rensselaer. It will probably be capitalized at $30,000, although it is possible that the capital stock may be even more than that. Dr. A. R. Kresler, R. A. Parkison/ Rowles & Parker, J. D. Allman, F. M. Parker, John Kresler and several others whose names are at this time withheld have been active in the plans to organize a new bank and they state that they have received so much encouragement from farmers and businessmen that the demand for stock will probably exceed the amount to be issued. It is proposed to, have a large number of small stockholders, the shares being SIOO each. The location has notq>een definitely decided upon, but it is probable that the Harris building will be used. It was used by the' Harris bank and is supplied with vault and considerable furniture that could be utilized. Mr, Harris has given the new bank promoters an option on the building, which is now occupied by Dr. J, H. Karlsson, as an office. It is proposed to get started up by the first of April and possibly by March 15th. Certificates of stock have arrived and are soon to be filled out and delivered to the men taking stock. It is quite probable that R. A. Parkison will be the president and J. D. Allman either cashier or assistant cashier. The names of all the men mentioned as promoters or stockholders will assure the stability of the bank, and the popularity of Mr. Allman, who was treasurer of Jasper county for four years, is certain to be a great drawing card for business, and the business gives every promise of starting out under auspices that are very flattering.