The Telegraph-courier. [volume] (Kenosha, Wis.) 1888-1946, 1906-01-18
First National Bank Increases Its
Capital Stock From $50,
to 500, 900 Today
NO CHANGE IN BANKS POLICY
Albert w. Frantz is Elevated to the
Office of Second Assistant CASH
ier-No Other Changes in
the List of Officers

ihe annual meeting of the stock
| holders of the First National bank
was held at the directors room in the
oank this morning, and the meeting,
/ was OF more than usual importance on
account of the fact that the stockhold-
ers oy a unanimous vote decided to
increase the capital stock of the bank
from $4,000 to 500, 900.
For some time this plan has been
under consideration by the officials of
the bank and while there is no i'm
mediate demand for a greater capital
the members of the board,of directors
were OF the opinion that an increase
IN the capital stock of the. bankgwould
make 1T even stronger financial in
stitution. The increase in.the capital
stock will not be taken from9the sur
plus, but the change means that $50
600 will be added to the sstock of the
bank The surplus will remain at $50
,O0O and the undivided profits at $40
900.
There is little reason tosbe1ieve that
any OF the new stock of the bank will
be sold to outsiders as thess..stockhod-
ers now interested in thes1bank have
been given the optionssof, taking the
stock, and it is understood that nearly
every share of the stock has already
been subscribed for.
In fact, it was taken almost as soon
as the stockholders had voted for the
increase. This means that the con-
troll of the bank will remain in charge
OF the small coterie of stockholders.
1t is stated that there are but sixteen
stockholders in the'bank at present.
The First National Bank .has never
paid large dividends on the stock, as
1t has always been the claim Of the Of
hcers of the bank that it was their
desire to furnish a strong financial in
stltution for the city rather than to
make large interests on their invest
ments.
The bank is one of the Oldest ma
tional banks in the state of Wisconsin
and the records show that it was the
212th bank to be chartered under the
national banking laws. In the past
the capital stock of the bank has not
been in keeping with the large bus
mess done by the bank
With this change in the capita
stock it is announc ed that there will
be no change III the conservative
policy of the bank, and the business
will be continued in the future as in
the past. 1t is probable that the
bank will continue to hold it's place as
number l" on the rod of honor for
Wisconsin banks. 1t is possible that
before another year passes some &C
ton will be taken to build a new home
for the bank, but the officials are not
ready to make their plans public at
this time.
Only one change was made in the
officers of the bank when the annual.
election was held, and that was the
elevation of Albert w. Frantz to the
position of second assistant cashier.
The promotion is one earned by faith
full service. Mr.. Frantz has been the
receiving teller of the bank for seve-
raj years, and has won the confidence
Of his employers by his strict attention
to business and by his business integ-
rity.
The list of officers elected for the
bank was as follows:
President-Z. G. Simmons.
Vice-President-George Yu1e.
Cashier-Charles c. Brown.
Assistant Cashier-Wm. P. Robin
son.
Second Assistant Cashier - Albert
Frantz.