Part 92 (2/2)

Ingwersen resigned as cas.h.i.+er to accept the presidency of the Peoples Trust and Savings Bank of Clinton, Iowa, and Kent C. Ferman, who had been a.s.sistant cas.h.i.+er since 1904, was appointed cas.h.i.+er. In 1904 John Fletcher was appointed a.s.sistant cas.h.i.+er, and Miss Anna Smouse auditor.

In 1906 Mr. Fletcher resigned to accept the a.s.sistant cas.h.i.+ers.h.i.+p of the Drovers Deposit National Bank of Chicago. In 1908 Louis Visha was appointed a.s.sistant cas.h.i.+er, and in 1909 Martin Newcomer was appointed as a.s.sistant cas.h.i.+er.

[Ill.u.s.tration: S. S. JOHNSON An Early Cedar Rapids Settler]

The present officers are therefore as follows: Ralph Van Vechten, president; Geo. B. Douglas, vice-president; Kent C. Ferman, cas.h.i.+er; Louis Visha, a.s.sistant cas.h.i.+er; Martin Newcomer, a.s.sistant cas.h.i.+er; and Miss Anna Smouse, auditor.

The bank has a capital of $100,000, a surplus of $100,000, undivided profits of over $100,000, and deposits of more than $3,500,000.

The Security Savings Bank was incorporated March 18, 1889, and opened for business April 26, 1889.

The original stockholders numbered 87, of whom 22 have since died.

The original directors were G. F. Van Vechten, C. J. Ives, J. R.

Amidon, Walter D. Douglas, Chas. H. Clark, Jno. E. Murray, W. W.

Higley, J. R. Morin, and W. F. Severa. Changes in the board of directors on account of death or disposition of stock have occurred as follows: In 1894 P. C. Frick succeeded J. R. Morin; in 1895 E. M. Scott succeeded W. F. Severa; in 1896 B. H. Witwer succeeded Chas. H. Clark, whose death occurred during that year; in 1899, on account of temporary removal from the city, W. D. Douglas resigned and was succeeded by C.

D. Van Vechten, but on the death of W. W. Higley, later in the year, Mr. Douglas was reelected to succeed him. In 1906 D. K. Harbert succeeded C. J. Ives, who died that year, and in January, 1910, Emma M.

Van Vechten was elected to succeed her husband, G. F. Van Vechten, whose death occurred the previous September.

President Van Vechten and Vice-President Ives served the bank continuously from its organization to the date of their respective deaths; Vice-President Amidon continuously since organization, and President Scott the same--first as cas.h.i.+er, then vice-president, and after Mr. Van Vechten's death, as president. On January 1, 1908, J. W.

Bowdish was engaged for one year to relieve Mr. Scott, during the building period, and served as cas.h.i.+er throughout that year. Cas.h.i.+er Frank Filip entered the employ of the bank in 1894, was promoted to a.s.sistant cas.h.i.+er in 1904, and made cas.h.i.+er in 1909.

The original capital stock was $50,000, which was later increased to $75,000, then to $100,000, and on March 24, 1908, to $150,000. The present surplus is $100,000. Its total deposits are now about $1,800,000, belonging to 5,000 depositors.

The bank first opened for business at 211 South Second street. In 1893 it erected on its own ground, 2660 feet, on the corner of Second avenue and Second street, a three-story brick bank building, containing the first exclusive safety deposit vaults in the city. In 1902 additional ground was purchased and in 1907 the three-story brick adjoining on the south was purchased and the bank removed to a temporary office in this building, while its old home was replaced by its present eight-story, steel frame, fire proof office building, where its banking apartments are modern and complete.

The Bohemian-American State Bank was organized under state charter and commenced business June 13, 1892, with a capital of $60,000, its officers being W. F. Severa, president; S. L. Dows, vice-president; J.

W. Bowdish, cas.h.i.+er; V. A. Jung, a.s.sistant cas.h.i.+er. Among its organizers were W. F. Severa, S. L. Dows, J. H. Douglas, F. Braun, Jos.

Woitishek, Jos. Renchin, E. E. Pinney, H. B. Soutter, T. C. Munger, C.

Butler Weeks, J. J. Powell, and Warren Harman. It had a successful career and paid dividends from its commencement. It was consolidated September 1, 1894, with the Bohemian-American Savings Bank, in order to avail itself of the more liberal charter given by the state to savings banks, the stockholders and depositors practically all remaining with the new organization.

The Iowa Savings Bank was organized under state charter and commenced business May 1, 1893, with a capital of $50,000. Its officers were James H. Douglas, president; W. F. Severa and H. B. Soutter, vice-presidents; J. W. Bowdish, cas.h.i.+er; and V. A. Jung, a.s.sistant cas.h.i.+er. The directors were J. H. Douglas, F. Braun, H. B. Soutter, Warren Harman, Jos. Woitishek, S. L. Dows, W. F. Severa, T. C. Munger, C. Butler Weeks.

On September 1, 1893, the articles of incorporation were changed, increasing the capital to $60,000, and changing the t.i.tle to Bohemian-American Savings Bank. At the same date the Bohemian-American State Bank, desirous of the benefits of the more liberal charter offered savings banks, arranged to consolidate its interest with the Bohemian-American Savings Bank, which consolidation took effect September 1, 1894.

The Bohemian-American Savings Bank enjoyed a prosperous growth, notwithstanding the effect of the panic of 1893, probably as severe a financial panic as at that time had ever been experienced. It paid regular semi-annual dividends and continued prosperous until its consolidation, March 28, 1898, with the Citizens National Bank and the American Trust and Savings Bank, two newly organized banks, the Citizens National Bank taking over the commercial department, and the American Trust and Savings Bank absorbing the savings department.

The Cedar Rapids Savings Bank was incorporated March 13, 1883, and opened for business May 15, 1883.

The original stockholders numbered 36, of whom eight have since died.

The original directors were Jno. T. Hamilton, Lawson Daniels, Chas. B.

Soutter, Robert Palmer, F. C. Hormel, Jas. L. Bever, Geo. W. Bever, A.

T. Averill, and F. J. Upton. Changes in the board of directors on account of death or disposition of stock have occurred as follows: In 1884 E. I. Foster succeeded F. J. Upton; in 1891 M. A. Higley succeeded Mr. Foster; in 1892, at the death of F. C. Hormel, J. M. Dinwiddie succeeded him; in 1897, J. M. Terry succeeded A. T. Averill; in 1900 Robert Sinclair succeeded M. A. Higley, Geo. Goodell succeeded Jas. L.

Bever, and E. R. Moore succeeded Geo. W. Bever. President John T.

Hamilton, Vice-President Chas. B. Soutter, and Cas.h.i.+er J. M. Dinwiddie have served continuously since the organization of the bank.

The original capital stock of the bank, paid in cash, was $50,000, which has been twice increased--the first time to $75,000, and then to $100,000. The present surplus of the bank is $65,000, and the deposits over $1,850,000.

The contract for the bank's six-story, fire proof building, the first six-story structure in the city, located at the corner of Third avenue and Third street, was let May 30, 1895, and the building was occupied in May, 1896. In 1909-10 an addition was erected, so that the building is now 90140 feet.

<script>