Jasper County Democrat, Volume 20, Number 37, Rensselaer, Jasper County, 4 August 1917 — CHARTER GRANTED NEW BANK [ARTICLE]

CHARTER GRANTED NEW BANK

Location of New Institution Has Not Yet Been Decided Upon. On Wednesday, August 1, the hearing relative to the granting of a charter to tfce Farmers’ Bank & Trust company of this city came up before the State Charter Board, which consists of Governor Goodrich, Ed Jackson, secretary of state, and Otto L. Klaus, auditor of state. Anyone who desired was permitted to express their views in their own way, the meeting being very informal, and after hearing but very little evidence the charter board went into an executive and secret session, and about 2:30 p. m. they announced their decision in favor of the charter for the new bank. Some of the evidence which was brought before the board and which helped to cause the charter board to readily grant this charter were the figures showing the enormous increase in valuation of property in. the different townships in Jasper county within the last ten years, and also the showing that in all localities such as Morocco, Kentland, Goodland, Monticello, Wolcott, Remington, Monon and other neighboring towns that the establishment of new banks did not take away the deposits of the old banks but simply brought more money into the community for legitimate loaning purposes. One witness stated that Jasper county was doing more in the way of improvement than any other county in the state of Indiana; some of the greatest improvements being the Kankakee drainage improvement, the contemplated improvement of the Ryan and Gifford ditches and the Barnard ditch. The stockholders of the new

Farmers’ Bank & Trust company are composed of our leading business men and farmers, the directors themselves owning oyer 10,000 acres of land in Jasper county, and they are all very enthusiastic over bringing into this county a banking institution w-hich will, jn an additional way, serve the needs ot the community and help to relieve the tightness of the money market which now exists. The directors are able and conservative business ■ren and will run the bank along those lines, and at the same time use every effort to accommodate the public. The directors are Charles F. Stackhouse, Charles V. May, Frank J. Donnelly, Floyd Amslfer, Arthur H. Hopkins, Nehemiah Littlefield, O. K. Rainier, Walter V. Porter, Abram F. Long, Norman H. Warner and John A. Dunlap, There are thirty-eight stockholders, and 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.