The Mitchell capital. (Mitchell, Dakota [S.D.]) 1879-1918, 1896-03-27
RESUME BUSHES
Alter a Suspension Of Thirty Days the
First National Bank Opened Its
Doors Last Saturday.
Ihe Bank in the Hands Of New Men Pre-
SentS a Stronger Front Than at
kny Previous Time.
A CASE OF INSANITY
Alfred Olson, Young Farmer in Lisbon
Township, Went Insane Suddenly
Last Thursday.
HAVE OPENED FOR BUSINESS
The First National Bank Resumed Bus
ness Operations Saturday Morning.

The First National Bank Resumed Busi-
ness Operations Saturday Morning
At . o'clock Saturday morning the
doors cf the First National bank, which
have been closed for the past thirty
days opened to the public and resumed
business under a new management.
Tuesday afternoon, Feb. is, after the
bank had closed its business for that
day the news was received that John D.
Lawler, president of the bank, had
died suddenly at Sioux City. Upon the
suggestion of vice-President Logan
the bank did not open for business the
following morning for the reason that
owing to the presidents death Mr..
Logan considered it would render a
more satisfactory situation to have an
examination of the bank made by the
national examiner. Accord ingly Mr..
Zimmerman was sent for and he made
an exhaustive Investigation of the af-
fairs of the bank. At that time Mr..
Zimmerman stated TO THE REPUBLI-
CAN that there was no necessity for
alarm as to the standing of the bank,
that the examination he made showed
to him that the bank was in no danger
of collapsing, although reports had
been freely circulated to the contrary
Mr.. Zimmerman made his report to the
comptroller OF the currency who was
thorouG hly satisfied with the condition
OF the bank and gave his permission
fer it to resume business.
Before commencing business the
officials considered it better 10 effect
new organization SO that when it open
ed up the bank would present a more
| solid front than ever. For the past
two weeks new stock was being placed
with various parties in the east and ar
ranging everything for the reorganiza-
tion.
Those who are principally interested
in the makeup Of the new organization
are ID. L. Gilman, president, and G. NJ
Swan, cashier of the Iowa State Ma
tional bank and Jos. Lawler, of Sioux
City Mrs. John D. Lawler, Mrs. Nina
| Dousman. Messrs. J. O. Walrath. |. W.
Seaman, J. D. Woud. r. D. Welch and
j. S. Daniels of this city, who control
$50. 600 OF the stock. while the other
S2O 600 is held by eastern parties.
The reorganization was effected late
Friday night by the electiol of the fol-
lowing officers:
President-J. O. Walrath.
Vice-president-R. d. Welch
Cashier-Geo. E. Logan.
Asst. Casnier-O. P. Graham.
Directors-C. NJ. Swan of Sioux City,
J. aHssWalra'h' Is r. D. WEIGH l. w.
Ses4nan and J. D. Wood.
The present dictatorship Of the bank
is five, which is the limited humber
under the bylaws. y meeting of the
stockholders will be held soon when
it is the intention to change the by
laws to make the directory consist Of
seven and the names of j. S. Daniels
and Albert Boynton will then be
added.
F. Il. Moses, who was the former
cashier. rendered his resignation as he
was desirous of devoting his entire
time to his farm and live stock inter-
ests.
The new officers of the bank are men
who are we'll known in Mitchell, hav-
ing been among the earliest settlers,
and who enjoy the respect and conf
dence of all classes. Mr.. Logan will
have the active management of the
bank and will devote his entire time
and attention to its interests. He is an
energetic and conservative gentleman
and we believe the bank will continue
to prosper.
When the bank opened for business
Saturday morning there was no excite
ment attending it ond other than those
who held checks against the bank pend
ing its opening but very little money
was drawn out by depositors. On the
counter beside the cashiers window
lay $50,O 900 in currency and gold, suf1i
cient 10 meet any demand made by the
depositors. All day long the officers
were busy receiving the congratulations