The Mitchell capital. (Mitchell, Dakota [S.D.]) 1879-1918, 1896-07-17
A CONSOLIDATION
The First National and Security Banks
Consolidate Their Financial Inter-
eStS Into One Institution.
Little Change is Made in the Officers
Other than H. R. Kibbee Being
Made the New Cashier.
COUNTED THE MONEY
County Board Finishes Its Labor Of a
Week by Settling With the Treas
urer and Counting the Money.
COUNTED THE MONEY
County Board Finishes Its Labor Of a
CONSOLIDATION OF INTERESTS.
The Security and First National Banks
Will be Conducted as One Bank.

The security and First National Banks
Will be Conducted as One Bank.
What will come in the nature of q
surprise to the people of this city is the
announcement of the consolidation of
The Security hank and the First Ma
tional bank of this city. Under the
the new arrangement the business of
both banks will be conducted by the
First National. Negotiations have
been under way for several days and
were finally brolght to a conclusion
Friday at a joint meeting OF the officers
of both banks. Mrs. A. NJ. Bowdle and
the Iowa and Dakota Investment Co.,
who held large interests in the Security
bank disposes of their stock
to the First National and the balance
of the stock was transferred to the new
institution. While both banks were
doing q satisfactory business the fact
that both institutions were carried on
separately at the same expense it was
considered wiser plan to consolidate
the interests of the two banks into one.
inasmuch SIS some of the stockholders
OF both banks were interested in both
Institutions. Since its recent reorgan-
ization the First National has been
considered one of the safest and most
reliable banks in the state but since
the addition of the strength of the Sc
curity its solidity and frmness has tax
en- on much more strengthening ap-
pearance. The consolidation will bring
a large volume of business and the pat
rons can depend upon securing the usu-
al reliable and prompt service. While
the capital stock has not been increased
the stability of the bank has been more
than doubled. The following officers
will hereafter have charge of the First
National bank:
President-J. o. Walrath
Vlce-President-Ge E. Logan.
Cashier-H. r. Kibbee.
Asst. Cashier-O. p. Graham
Directors-D. T. Gilman, 1. w. Sea-
man, G. NJ. Swan, J. S. Daniels, Ella
Sturgis Lewler, j. o. Walrath, Albert
A. Boyrton, J. D. Wood and Geo. E.
Logan.
H. r. Kibbee, the former cashier of
the Security, becomes the new cashier
of the First National bank. Fourteen
years ago Mr.. Kibbee entered the First
National bank to learn the business and
was constantly advanced until he be-
came assistant cashier. Four years
ago change was made in the Security
bank at which time A. M. Bowdle se-
cured controlling interest in that
bank and placed Mr.. Kibbee there as
cashier. During that time he has had
the entire management of the bank and
the success with which he conducted
the business indicates the fact that he
is possessed of clear tact and fore
sight, and has carried his bank through
three years of depression. Mr.. Kibbee
now returns to the home of his frst
love as cashier and his selection is the
result of his close and careful attention
w tue luiutIest uetdllS Ol Un0 business
in his charge. Mr.. Kibbee enjoys the
thorough confidence and esteem of
every business man and citizen of this
city and his presence in the First Ma
tional will be highly satisfactory to all.
Other than the change of cashiers but
few other changes are made. Mr..
Logan is made the president and
will divide his time between the bank
and his private business as soon as the
bank becomes accustomed to the
change. Mrs. Ella Sturgis Lawler was
added to the directors.
Eleven years ago the Security bank
was organized by eastern capitalists
who retained their interests until four
years ago which were purchased
by A. NJ. Bowdle and other Mitchell
citizens. The real estate owned by The
Security was not included in the trans
fer and the bank will retain its corpor-
alton until disposal is made of those
interests. Thus will pass out of action
q financial institution which has been
an important factor in the past history
of Mitchell
Saturday morning the change was