Rogue River courier. (Grants Pass, Or.) 1886-1927, 1906-07-13
AN IMPORTANT CHANGE
IN BANKING CIRCLES
Senator Booth RetirGs From
Grants Pass Banks-they Are
Now Separate Institutions.

n uuhDClhi tTdurdCtlOu VI very Bicot
importance to the business interests Of
Grants Pass has been brought to q
successful close the past week. 1t
consisted in the dissolviug Of all con-
nection between the two banks OF
this city and of the resignation Of
Senator r. A. Booth of Eugene, as
president Of the First National Bank
of Southern Oregon, and Of vice-presi-
dent OF the Grants Pass Banking &
Trust Company and of transferring Of
oil bis stock in the two banks to
Grants Pass purchasers This move
on Senator Booths part was not made
because his bank investments In
Grants Pass were not profitable, for
the stock OF both banks are In de-
mand at above par, but that his ex.
tensive interests in the Booth Kelly
Lumber Company and other property
interests in Lane county and other
parts of Oregon require his full at
tention and all his capital.
At the same time that Senator
Booth retired from the Grants Pass
banks the further arrangement was
made that severed all financial con-
nection between the two institutions
and now they are as separate in all
their affairs and as it is possible for
two business houses to be. This
severance Of financial relations does
not mean that there is any friction or
conflict Of interests between the two
institutions. but on the contrary there
is the hearty good will between the
officials Of the two banks that should
exist between all business men. and
sech bank, while striving to secure
the largest volume Of business will
cooperate and work with the other In
any measure that will tend to the
building up and prosperity of Grants
Pass and OF Josephine county.
In the First National Bank OF
Southern Oregon Senator Booth is
succeeded a. president by L. 3. Hall,
who also takes Mr.. Booths place on
the board OF directors. No other
change in officers has been made and
now this bank IL owned and controlled
exclusively by Grants Pass men. Mr.
Hall Is a thoroughly experienced man
in that relates to banking business he
having worked his way up from office
boy to cashier aud an officer in one Of
the strongest banks In Illinois. Since
he was II years old until three years
ago when he came to Grants Pass
he was connected with the A. L.
Thompson Il Company bank at Me-
chanicsburg, Ills, and at the time he
sold out he held half interest in the
bank. This bank is one of the lar
hnn In. tL.s ID.
holds high rating in financial cir
eles. Since coming to Grants Pass
Mr.. Hall has made large investment
in real estate and has become deeply
interested in the material progress OF
the city. He has shown himself to he
y man Of high business capacity and
thoroughly progressive yet prudent
and his being made president OF the
First National will be an added factor
60 the strength and standing OF that
bank. The actual management of
business of the bank will remain with
II. l.. Gilkey, who has been cashier
and manager for years past and to
hose sagacity and energy is due In
large measure the splendid prosperity
that the bank has had and the strong
position II occupies among the banks
Of Oregon.
With the Grants Pass Rtpkiug 4
Trust Company the consequ, nj change
incident 30 the retirtmut of Senator
Pooth ~ u stocAholder ltavs but $1,000
Of its stock held outside Vt Josephine
county and it is understood hat the
party holdine IL will shortly turn il
over to Grants Pass purchaser.
RAAfh 81 a..
this bank and this position is now
filed by James L Tufts who witt
thee state OF his father, the late Jamt
p. Tufts, holds large block of the
stock Mr. Tufts has been member
Of the board of directors and the place
held on the board by Senator Booth
will not be filled until the annual
election OF officers. II is quite proba.
ble that Grants Pass man will be-
come president OF this bank nt the
next election Of officers, rs j Frank
Watson of Portland, has SO many large
interests in that city to engage both
his attention and capital that he is
DESTROYS Of retiring from the position.
L. l.. Jewell, one of the founders of
tn bank, and its cashier and manager
since its organization will continue TO
hold that position. Mr.. Jewell has
been for years one of the leading
business men of Grants Pass and he
has a high standing in this city
for his integrity. public spirit and
business capacity and under his man.
agement the bank of the Grants Pass
Banking 4 Trust Company will be
certain TO continue in its prosperous
,.,nd,tinp and to ineraasa its hnancia1
strength and its influence in the com.
munity as this city and county de.
velop The semi-annual statement Of
this bank made ON the first Of July