The Sauk Centre herald. (Sauk Centre, Stearns County, Minn.) 1886-current, 1898-08-04
Bank of Sank Centre Incorporated.

Elsewhere in the HERALD will be
found the articles Of incorporation Of
the Bank OF Sank Centre, which en-
tered upon its career as aregularly or
gained state bank on August 1st, with
a capital stock Of $25, 900. The stock
holders are all we'll known and promi-
nent business men who have long been
identified with the material inte rests of
Sank Centre: Lucas Kells, Lyman M.
Kells, Robert Kells, Solomon Pen
dergast, Vinet A. Whipple, Martin F.
Woodbury. and VIM. E. Lee of Long
Prairie. The officers are: President,
Lncas Kells; Vice President, Solomon
Pendergast; Cashier Lyman M. Kells;
Assistant Cashier, Robt. Kells; Direc-
tors, Lucas Kells; S. Pendergast, and
L. M. Kells. There will be no mate
rial change in the working force, the
same supervision being exer-
| cised which has built up the Bank to
it's present substantial and influential
position in the business world.
The Bank of Sank Centre was start
ed as personal partnership in 1880
and the .buildingnow andever since oc-
cupied by it was then erected for its
use. The partners were Solomon PEN
dergast and Lucas Kells, being regis
tered as president and cashier respect
lively, with E. P. Barnum as assistant
| cashier. For nine years the firm
flourished, conducting a large and in
| creasing business, In 1889 consider
ations of health induced Mr.. Pender-
CAST to sell his interest ito Lyman M.
Kells, and Robert Kells succeeded Mr..
Barnum. During the past nine years
the bank has been operated along the
same safe and accommodating lines,
prospecting and growing steadily year
by year. 1t is the Oldest bank in this
section of the country, and as reliable
and stable as any similar institution
in the land.
For several months the change now
consummated has been in contempla-
ton. It was deemed best to put it un-
der state supervision subject to official
inspection by the state authorities, and
it's exact financial condition will be
made public from time to time by sworn
published staments just as National
banks are. There was another advant-
age which had considerable weight:
as d partnership in case Of the death
of any one interested directly the con-
tinuation of the business might be in
terfered with pending the settlement of
an estate. As corporation no such
event would BE- possible.
On Tuesday A. Lonegren of the state
department made an examination of
the aft fairs of the new bank, and gave
the necessary authority for business.
There is no better or sounder financial
institution in existence and the wise
policy which has made it what it is will
be continued.
Lucas Kells, president of the Bank
has had an experience which is in
many respects unique, and yet full of
encouragement to every young man.
After his discharge from the ARMY
after. the war, he came to Sank Centre
and for time conducted harness
making business. This he sold and
went to work for Henry Gauger, then
employed in sfreighting. When well
defined line of express was organized
over the old stage line he became local
agent for the express company, Occur
plying little wooden shanty on the
site of thepresent bank. From his
earnings he engaged in a small way
in the banking business, loaning
money in small amounts, and keeping
an account in st. Paul bank, he