Rensselaer Semi-Weekly Republican, Volume 35, Number 34, Rensselaer, Jasper County, 30 December 1902 — A National Bank for Rensselaer. [ARTICLE]

A National Bank for Rensselaer.

Another bank for Rensselaer is now practically a sure thing, and according to present plans it will be organized as a national bank. Joseph W. Paxton, who has had considerable experience in the banking business is the principal organizer. The laws now {permit banks to be organized with a capital as small as $25,000 but this one will probably be organized with $50,000 capital, although there is plenty of money in sight to make it twice that sum, if it were thought desirable. John Makeever, his nephew D. 8. Makeever, Mr. Paxton’s father-in-law W. E. Moore and his son Austin Moore are all mentioned as ready to invest heavily, It is Mr. Paxton’s idea, however, not to put out the stock in large blocks, but rather to put it out in sums of a few thousands to each man, including many business men and leading farmers.

The matter of a room to house the new bank in, is now the prin. cipal subject of anxiety. After the new K. of P. and Warner buildings are completed, however, there will be considerable moving about, and then there will be several rooms available, some of which will probably answer the purpose of the new bank, at least until a building of its own can be erected. But to find a suitable site for a new bank building is not a very simple problem, either.