Evening Republican, Volume 22, Number 169, Rensselaer, Jasper County, 19 July 1919 — NEW INSTITUTION A NATIONAL BANK [ARTICLE]

NEW INSTITUTION A NATIONAL BANK

FARMERS’ AND MERCHANTS’ NATIONAL BANK TO OCCUPY CORNER. The purchase of the Leopold corner building by A. F. Long brings to light a movement that has been under consideration for some time, the organization of a new bank in Rensselaer. 0 A definite statement has been issued by those interested in this new financial institution. They have purebased of Mr. Long twentythree feet front on Washington street extending to a depth of one hundred feet on North Van Rensselaer street. The new bank is to be known as the Farmers’ and Merchants’ National! bank and will occupy the front part of this room and the already organized Mortgage and Realty company will occupy the rear. In conjunction with Mr. Long the building' will be remodeled. Mr. Long will occupy' the room now being used by the Home Grocery. This room will be the same size as the bank room, twenty-three feet by one hundred feet, and as soon as it is remodeled Mr. Long will move his drug store into it. He will install a soda fountain and will serve ice cream and other prepared eats and drinks so often served in drug stores. These two rooms will extend back to just a foot north of the little room occupied by Werner the tailor. The fifty feet from there to the alley and extending forty-six feet inward will be improved by Mr. Long. The present buildings will be razed and in their place Mr. Long win erect a fine modern business room with basement, furnace and possibly three stories high. The two upper stories will be fitted up for offices. It is understood that Mr. Long will sell his present business building. He reports that he has a number of persons anxious to buy it. If he gets the price he is asking for it he will not have made a much greater investment in the new building than he receives for the old one. Auditor Joseph P. Hammond is the leading organizer of the new bank. E. L. Hollingsworth is much more interested in the Mortgage and Realty company. The charter for the Mortgage and Realty company has already been issued. The charter for the national bank has been applied for. The new financial organization is to be capitalized at $50,000, with SIO,OOO surplus. Pending the remodeling of the newly purchased property, both organizations will occupy the room in the Hollingsworth building on South Van Rensselaer street lately vacated by Wiseman & Winfrey.