Evening Republican, Volume 21, Number 169, Rensselaer, Jasper County, 3 August 1917 — NEW BANK GETS CHARTER [ARTICLE]

NEW BANK GETS CHARTER

FARMER’S BANK AND TRUST COMPANY NOW LOOKING FOR QUARTERS. The hearing before the Charter Board relative to the granting a charter to the Farmer’s Bank & Trust Company, of this city, came up Wednesday before Governor Goodrich, Ed Jackson, secretary of state, and Otto L. Klaus, auditor of state. The hearing was an informal one, people being permitted to express their views in their own way, and after hearing but very little etfdence the charter board went into an executive and secret session, and at 2:30 p. m. announced their decision in favor of granting the charter for the new bank. The figures presented to the charter board showing the enormous increase in valuation of property in the different townships in Jasper county in the last ten years, and also the showing that in all localities such as Morocco, Kentland, Remington, Goodland, Wolcott, Monticello, Monon and other outlying banks that the establishment of new banks did not take away the deposits of the old banks but simply brought additional money into the state of Indiana. The stockholders of the new institution are composed of our leading farmers and businessmen, the directors themselves owning over ten thousand acres of land in Jasper county, and then are ail very enthusiastic over bringing into this county a banking institution which will, in an additional way, serve the needs of the community and help to relieve the tightness of the money market which now exists. There are thirty-eight stockholders and the directors are Charles F. Stackhouse, Charles V. May, Frank J. Donnelly, Floyd Amsler, Arthur H. Hopkins, Nehemiah Littlefield, O. K. Ranier, Walter V. Porter, Abram F. Long, Norman H. Warner and John A. Dunlap. The capital stock is $35,000. Several locations have already been offered to the new institution and the directors are debating on which one they will accept. The directors are able and conservative business men and will run the bank along those lines, and at the same time use every effort to accommodate the public. The above was handed to us by one of the stockholders of the new bank. We understand that among the places being considered are the building now occupied by the First National Bank, the Makeever bank room, the room occupied by the College Inn, the room now being used by the Navy League, and there is some discussion of buying the B. S. Fendig corner and erecting a fine banking house thereon. It is rumored that the persons talked of for president are C. V. May and Charles Stackhouse. Those discussed for the positions of cashier and assistant cashier are A. H. Hopkins and Rex Warner. However, these matters hove not been settled and no definite information can be given until the meeting of the directors.