The Mankato free press. [volume] (Mankato, Blue Earth County, Minn.) 1879-1924, 1892-04-29
BANK REORGANIZATION.
National Citizens Bank to Commence
Business Thursday with
100000 Capital.

100000 Capital.
On Wednesday of this week the
charter of the Citizens National
Bank expired, it having lived its
twenty years corporate existence. For
various reasons it was decided to form
an entirely new organization, TO be
composed only of residents of Manka-
to, and for that purpose meeting
was held April 9Th, 1892, at which the
following shareholders were present
or sent in their names: l.. Patterson,
Hugh Spencer, G. II. Higgs, II. Weis,
j. B. Swan. VIM. Thomas, Lorin Cray,
John G. Mobiles, Isador Longini, John
c. Wise. John +. Meagher, L. Lam
pert, H r. Weicking, A. G. Meyer,
L. P. Hunt, T. G. HeinZe, Oscar Bier
bauer, S. B. Martin, w. G. Hoerr,
ThOs. Caughlan, p. B. Sparrow, H. e.
Swan, j. d. Hildred, E. p. Freeman,
c. G. Quinn, Fred Widell, P. L. Vran-
izan and DR.. A. L. Dornberg.
1t was voted to name the new bank
the 'National Citizens Bank, of Man
kato," and the capital stock was
placed at $4,000 The bank starts in
with a surplus of $40, 1000 The fol-
lowing directors were chosen: II.
Spencer, n. Weis, VIM. Thomas, L.
Cray, a. G. Meyer, o, Bierbauer, L.
Patterson ]. S. Hinckley, E. Henlein,
J. Z. Meagher and John G. Wise.
A meeting Of directors was after
wards held and the following officers
elected for the first year: j. f.
Meagher, president; L. Patterson,
vice-president: W. G. Hoerr, cashier;
II. e. Swan, assistant cashier; p. B.
Sparrow, book-keeper: L. Cray, attor-
ney.
The new organization will com.
mence business Thursday, April 28th
So far as the public is concerned, ev'
erything will 90 along as usual. II
will be entirely home institution
all the stock will he owned in this
city, and the addition Of several
stockholders should prove beneficial
to the bank. We trust that the com
ing twenty years will prove fully as
profitable to the stockholders as the
past twenty years, and that the bust
ness of the bank may continue to in
crease as in the past. The character
and standing of the officers and stock,
holders is sure guaranty of this.
Since the first meeting held under
the old organization many changes
have occurred. AT that meeting, held
May 18th, 1872, there were present
Chas. Mansfield, Geo. A. Clarke, G.
Keysor, Perry Wysong, Jas. A. James
M. Schwartz, n. Weis, j. III. Ray, j
T. MeagheP, Daniel Buck, j. w. Bish
op, VIM. Condor, VIM. Thomas, Johr
S. Hinckley, J. II. Hartman and J. J
Thompson.
The incorporators were the follow
ing: Chas. Mansfield, Julia Sears
Geo. NJ. Gage, Henry Wolfram, Geo
A. Clarke, Clark Keysor, Perry Wy
song, j. A. James, M. Schwartz, \
Weis, W B Brown, ] j Thompson,
NJ Esser, ] H Ray, ] f Meagher, Dan
iel Buck, n Armstrong, w Bishop
L Williams, VIM Condor, William
Thomas, John S Hinckley, H Hart
man, t n Boynton, H K Cole, Ange
line Hinckley, n w Dickinson.
The capital stock was placed al
$4,000
f Meagher was elected president
and has held that position ever since
this being the only office in which
there has been no change. The bank
has been prosperous beyond the
brightest anticipations of the organ
izers. During the twentyyears it ha:
paid taxes and paid the money invest
ed back to the stockholders twice ovel
in dividends. When the final settle
ment is made it will be found thai
the stockholders will again be pait
twice the par value of their stock.