Jasper County Democrat, Volume 5, Number 38, Rensselaer, Jasper County, 27 December 1902 — FIRST NATIONAL BANK. [ARTICLE]

FIRST NATIONAL BANK.

Movement On Foot To Establish ■ New Bank In Rensselaer. A movement is on foot and well under way to start a national bank in Rensselaer. The project is meeting with much favor and about the only difficulty yet to be surmounted is the finding of a suitable location. Nothing has as yet been definitely decided upon, but it is the intention to scatter the stock as much as possible, and the bank could easily be captialized for SIOO,OOO. It is not likely, however, that the capitalization will be over $25,000 to $50,000. John Makeever offered to take one-half the entire stock, and J. W. Paxton offered to take SIO,OOO, while several others wanted $5,000 to SIO,OOO. As it is the intention to get as many capitalists and farmers interested as possible, none of the stockholders will probably be allowed over $2,000 to $3,000 stock. Among those mentioned as anxious the take stock in the concern are John Makeever, J.W. Paxton, Squire Wm. E. Moore, Swanie Makeever, John Eger, and several others. If a suitable room can be had or a good location can be purchased, we understand, the project will go through. Dr. J. W. Horton has been approached in the matter of selling the west half of his lots on Washington street, now accupied by the express office and Vick’s fruit store, as to put up a bank building thereon, but nothing definite has been done in the matter. It is likely that we will be able to say something more about the project next week.