, 1883-05-31
Port Townsend's Bank.

On the first day of June, 1888, the
First National Bank of Port Townsend
VIII throw its doors open for business.
The stand occupied by Mr.. Landes will
be used until the new stone building
now in process of erection shall be COM
pleted, September 1st.
The banking Company was organized
March 26, 1888, and is composed of lead
ing business men of Port Townsend and
vicinity. 1t has paid up capital stock
of $4,000, with power to increase the
stock to S250,000. SO strong is the con-
fidence which business and mopeyed
men repose in this enterprise as worthy
and paying one that ten per cent.
premium was recently paid for thous-
and dollars worth of its stock. The
company has purchased an eligible
site in the business portion Of town,
upon which a large stone building is
being erected for the use of the Bank.
The building will be an ornament to the
town, to which our citezens can point
with pride, and the banking business
will prove an important factor in our
commercial growth and stability.
Such an institution as this bank has
long been needed in this community, and
now that it is here it ought to be ap-
preciated and encouraged. It will bring
business and stability to the place, and
Will do more to attract the attention of
business men manufacturers, mechanics
and Others to our growing city than could
any other enterprise that we could start
at this time. 1t will have the effect to
stimulate new industries in our midst,
for capital and labor always necessarily
operate in harmony where great COM
mercial results are attained. As an ad-
vertisement abroad its Importance can
not be oyerestimated; every banking bill,
draft, certificate of deposit or exchange
sent abroad will remind beholders that
Port Townsend is of sufficient Importance
to have a full fedged national bank III
operation. Yet the success of this in
stitution, like that of all others of n pub
lie nature, must depend largely upon our
citizens themselves. It is hoped that
every item of business in the line of bank
ing hereafter Will be made tributary to
the Bank; that store keepers will cease to
shave notes, buy or sell drafts or hold
deposits; that those having money to de-
posit anywhere for safe keeping will
take the same to the bank the proper
place for such treasure. To those in
country places, who have a surplus of
coin, we would say that there is now no
necessity of burying it under stumps and
otherwise secreting it, as many have done
heretofore; it can be brought to the
Port Townsend Bank and made pro-
ductive, both to the owner und borrower.
AS CONNIE rcial convenience the Bank
will return far more in value to business
men than they can possibly gain by buy
ing or selling securities.
When the new bank building is COM
pleted, and the business transferred to
it, we will write up complete and Con-
else history of the enterprise from its
inception. Meanwhile We advise the
public to give it all the encouragement
that its merits demand. Help it into
boom that will encourage its enterpris-
ing and deserving projectors. Mr.. Hen
ry Landes, its president, and Mr.. Robert
G. Hill, its cashier, are both men of sterl-
ing financial and business ability-and
7 WithaI so accommodating that they can
not fail to gain the good Will of all who
do business with them.