Evening Republican, Volume 21, Number 204, Rensselaer, Jasper County, 13 September 1917 — TWO BANKS CONSOLIDATE [ARTICLE]

TWO BANKS CONSOLIDATE

THE TRUST 9c SAVINGS AND THE FARMERS BANK & TRUST CO. TO BE ONE. • ■ Negotiations which have been in progress for several days have resulted in the signing of a contract between the stockholders of the Trust & Savings Bank and the Farmers Bant & Trust Company, by which the two concerns will merge. Meetings of the stockholders of both institutions were held and the matter was gone into very thorougniy and a s feasible plan for the merging of the two interests was carefully worked out and all parties in both institutions who were present expressed themselves as greatly pleased with the new movement. The Trust & Savings Bank has been in existence for over eleven years, having been organized in June, 1906. Its first home was in the building formerly occupied by the Harris bank, now occupied by G. J Jessen’s jewelry store. About ten years ago it removed to the A. Parkinson building, which had been occupied by A. F. Long’s drug store and in the summer of 1916 the bank purchased the corner bank building and some time ago commenced- extensive alterations in this building. The rear part of this building has been partitioned off and is now occupied by the Trust & Savings Bank temporarily and until the alterations can be completed, when it will occupy the entire front of -said building as its permanent home and where it will have One of the best locations in the city. There has been a bank in the corner of this building as long as most people can remember and now the entire front of the building is to be used by the bank and if the business requires it the entire first floor will be used by the different departments of the bank. The combined bank will use the name* and charter of the Trust & Savings Bank and the capital will be increased to SIOO,OOO. $35,000 of the new stock will be placed With the stockholders of the Farmers Bank & Trust Company and the charter of this company will be surrendered and annulled. The Trust & Savings Bank under its present officers, who have had charge of the institution since its organization, has been a growing, prosperous, and at the same time, conservative institution. The earnings for these eleven years have, in a very large degree, been allowed to accumulate and the capital stock,_ surplus and undivided profits now amouht to about $65,000. The total deposits amount to close to $300,000. Judson J. Hunt, secretary-treasur-er, assisted by Howard Mills, has made a record for efficiency that is

most commendable. Both men have the full confidence of the community and are regarded as men of the very highest type. In their work, so well done, they have had the help and co-operation of the other officers, directors, stockholders and extensive clientele.. The addition to this already strong institution of about forty of the very best farmers, business and professional men of this community, and the increasing of the capital stock to SIOO,OOO, will place in Rensselaer a bank worthy of the magnificent material resources of this county. With the other splendid banks of the county, no worthy enterprise should lack for financial assistance. There are now six banks in the county. Three at Rensselaer, one at Remington, one at DeMotte and one at Wheatfield. The future material progress and development of Jasper county is most promising. The construction of the Oliver and Ryan ditches will greatly enhance in value over 70,000 acres of land. Many other drains are under way and thousands of dollars worth of tiling is being made. Milch new ground is being cultivated and the farmers with improved machinery and advanced methods are not only farming more extensively but also more intensively. Many farmers are giving attention to the raising and feeding of stock, and many of them are specializing in the raising of pure bred cattle, hogs and sheep. Great credit is due to the older men who have done so miich to improve conditions and earnings of the farms in this county but we also have a great 3 number of young men who have laid the necessary foundation for successful farming by attending Purdue university and other agricultural colleges and who are heartily co-operating with our efficient county agent, Stewart Learning. The macadam road, sufficient drainage, the gas tractor and other improved farm machinery, the silo and the raising of pure bred stock make more banking necessary. Back of the bank, of the merchant, of the factory; yes, back to the very foundation, stands the fanner. If he is progressive and prosperous, the whole commupity goes forward. If he fails, all is lost. ■* ■ ~