River Falls journal. [volume] (River Falls, Pierce County, Wis.) 1872-2019, 1874-07-17
A Grnnge Bnnk.

Inc potent PATRONS OF huSbandfy,
steadily disclaiming a lust for power,
are taking concerted action to secure
their rights and TO advance their indi-
yidual interests in the way which to
them seemeth best. Their numbers
having doubled in the last twelve
months, and still increasing, they are
moving solid columns upon the citadel
OF the grain kings, to whom they are
more terrible than an army with ban
ners. The California column is about
the most vital and active OF all which
are embraced in this vast host. Ii is
led by men who combine muscular,
mental and financial attributes in Wig
orous development. OF the practical
schemes which are being prosecuted
for the benefit of the grangers in this
state, the most noteworthy is the
Changers Bank.
The bank will have a capital of IS 900,
900, divided into $4,000 shares of 800
each. Its base of operations viii be in
this city, its office being in Hayward's
building on California and Leidesdorif
streets, in the rooms lately occupied by
the Merchants Exchange Bank. IL has
been publicly stated that 500, 600 OF the
stock has already been paid in. This
IS not correct. The stock will be called
in III ten per cent. installments. The
first iustallment will be called in July l.
The Directors are empowered TO call III
the second installment IN three months
after the first, but it is thought that the
second call will not be issued until
January, 1875. The bank will be opened
informally on July -. There will be
no splurge OF display, but the Directors
expect TO ego slow" for while until
all the first installment is paid in. The
object of the bank is TO enable farmers
to borrow money upon as favorable
terms rs can be had in the city fer com
mercial purposes. The subscr ptions
are nearly all in small amounts, the
subscribers being residents of nearly
every county in the State The bylaws
promise the same consideration and at
tention TO the rights of small stock
holders as to those of the largest, and
"equal Justice to ALL There are
already over 900 subscribers, and the
aggregate of the subscriptions exceeds
81, 900. 900
The officers are Alfred i. Walcott.
of Il. T.. Morgan's Sons, President
Calvin j. CROSBY, of Stanislaus County,
| Vice President William III. Baxter,
Secretary. Messrs. Walcott and Cros-
sey, with the following named gentle
men, serve as Board of Directors !:
| Thomas Mcconnell, of Sacramento t:
Gilbert W. Colby, of Butte John G..
Hill, OF Ventura John z. Chilsman,
of Contra Costa; John v Webster, OF
Alameda Flavel J. Doorward, of San
joaquin Justice c. Merryfeld, Of
Solano; Carlisle S. Abbot, of Monterey:
John Lewellyn, of Napa. Mr. CROSBY,
the Vice President, is very opnlent
farmer, and President of the Farmers
Bank, of Modesto. He isabout pulling
up stakes, with the intention of remov-
ing 10 this city with his family and per-
manently devotlug himself TO the in
terests OF the Changers and their big
bank.
The iron rule of Friedlander. the
hitherto mighty grain king, and his
powerful associates Is broken. These
men have for years controlled the gram
market, and one of their most effective
means 10 that end was controlling the
tonnage OF the port The LEADING
Changers say this obstacle no longer
confrOnts them. They have been en-
abled to charter fifty vessels themselves
this year, aud are confident that facili.
ties viii he ample in future to take al
their grain 10 market. The Changers
have also in this city produce depot.
at the southeast corner of Sansome and
Commerce streets in charge of Mr..
Hegler. Late of Bodega Grange. They
have also IN agent 10 purchase farming
implements, and others to buy bags.
charter ships, and perform other i'm.
purtant functions.
II has been said that the Changers
have been paying more for their gram
bags than they were worth that. in
short, they have been "hit. This il
incorrect. Theyg their bags ascheap
as anybody They pay cash.
These Changers, whom the Chronicle
reporters have visited, also DENY that
some worthy men have withdrawn from
the Order under the fear of having To
carry the weak and aickly members.
They further say that the rich Graugcw
neither fear nor have reason To fear inv
such thing.