Santa Fe new Mexican. [volume] (Santa Fe, N.M.) 1898-1951, 1906-01-10
SOUND AND SAFE
GOOD AS GOLD
First National Bank
Of Santa Fe and
Officers.
BOARD DIRECTORS ELECTED.
O .anized in 1870, r. J.
1len is President and J.
H. Vaughn Cashier.

AAs aug IAA1 ~ooAAASAs
The First National Bank of Santa Fe
was organized In December 1870. Lu.
Glen B. Maxwell, of Maxwell Land
Grant fame, put up the $l50,O0O capi-
tai necessary to start the bank, after
the sale of his grant. He was the
first president and Charles F. Holly
was the first cashier. AT that time,
banking was unknown in New Mexi-
co as an actuality and this first exper-
iment did not attract much patronage.
In the spring Of 1871, the Hon. s. B.
Elkins now United States Senator
from West Virginia, and his associ-
ates set about the organization Of
second bank, but, before the prelin-
mary steps were taken, Maxwell sold
his interest In the bank to Elkins and
his associates. Senator Elkins then
became president Of the bank and the
late William w. Griffin, cashier.
Senator Elkins sold his stock in 1884
and was succeeded as president by
William w. Griffin, on whose death
the presidency was filed by Hon. Pc
dro Perea, who resigned in 1894. Ma.
jor r. J. Palen, who had been EN-.
ployed as assistant cashier of the bank
since 1878, then became president and
John H.. Vaughn became cashier at
the same time.
Sound institution,
The bank is the soundest and best
known financial institution In eastern
Texas, New Mexico, Arizona and
southern Colorado. 1t has been
big money maker for its stockholders
for thirty-flve years past. and will
surely keep up its record as long as 1t
exists. Among its stockholders are
some of the best known and wealth.
lest citizens of New Mexico and Of
this city. An examination of its last
statement shows large sums in undi.
yided profits and in surplus. There is
not man In all this vast country, say
from Amarillo, Texas, In the east to
the Arizona line In the west, a dis
tance of twelve hundred miles; from
the Arkansas River on the north to
the city Of Chihuahua In the south who
does not know OF the First National
Bank Of Santa Fe and who does not
have absolute confidence in Its sound
ness and high financial standing and
in the proper and successful conduct
of its affairs.
Although the business circumference
of this city Is somewhat limited and
1t has strong rivals in banking and
in mercantile business to the east and
to the south, nevertheless the business
Of the First National Bank extends
not only all over this Territory but
east, west, north and south of it for
many miles. There are men who have
kept their accounts In that bank from
the date OF it's establishment and who
are more than we'll satisfied with its
dealings and conduct.
We'll Known Financler.
Major r. ]. Palen, the president, Is
one of the best known and most high.
ly esteemed financiers In the South
west. He has been a resident Of this
Territory for over thirty years, having
served as clerk of the District Court
of the First judicial District before
he became cashier, while his father
was chief justice Of the Territory. He
served as an officer in the u. s. Vol
unteers during the Civil War, where,
although a very young man. he left
the service with the rank of major,
having made gallant and meritorious
record. Major Palen has the respect
and confidence Of all who know him In
business, socially and politically, and
he deserves the same to the fullest ex.
tent.
At the annual meeting Of the stock
holders yesterday, the following di.
rectors were elected: R. Palen, Hen.
ry l.. Waldo, 8. Spitz, ]. H. Vaughn
and ]. G. Schumann. The board or.
ganized by the election Of the follow.
ing officers: President, R. ]. Palen;
vice president, H. L. Waldo; cashier,
j. H. Vaughn; assistant cashier, A.
H. Brodhead.
Officers and Directors.
Howard ]. Vaughn, who was yes.
Iterday reelected cashier, became con-
nected with the bank In September,
1880, as a bookkeeper, and has been
gradually promoted until he became
cashier In 1894. Mr.. Vaughn is su-
|perior accountant. an excellent bank
official, reliable, true to his duty, Of
the highest integrity and thoroughly
acquainted with New Mexico financial
conditions. His reelection to the i'm.
portant position Of cashier was as nat
ural as 1t Is for water to run down
hill
A. H. Brodhead. the assistant cash
ies. came to Santa Fe In March. 1900,