Fergus County argus. [volume] (Lewistown, Mont.) 1886-1946, 1906-01-12
ONE KENDALL
BANK QUITS
Ficurishing Camp Does Not Offer a
Field for Two Such Institutions
to Successfully Operate.
SOUND POLICY is FOLLOWED
Kendall State Bank is Windinu Up Its
AHairs--WiIl Moore Banks Fol-
low Example?

The directors of the recently Or
Sanlzed Kendall State Bank yesterday
reached the decision to retire from
business in that camp, and just as soon
as Cashier Dolenty can wind up it's
affairs, the doors will be closed. The
starting of this institution in the
gold camp on Oct 10 last was large
ly in the nature of an experiment.
for while there is perhaps sufficient
business there to be an object for
one such institution, it has been
clearly demonstrated that there is not
room for two The other bank. the
First State Bank of Kendall, will re-
main in the field in charge of Cash
1er Henderson. Both of these insti-
tutions commenced business on the
same day.
No Room for Two.
Cashier Frank e. Wright, of the
Bank of Fergus County, in speaking
of the decision to close the Kendall
State Bank, said yesterday that the yli-
'SN'''o "Vit olHIpIy lollOWlUS SOunu
business policy. The Kendall institu.
ton was, in a certain sense, a branch
OF the Bank of Fergus County. and
1t was found that large number of
Kendall patrons of the Bank of Fergus
county did not care to transfer their
business to the new bank. They were
perfectly satisfied with the old sys-
tenn, and regarded the local bank in the
camp as superlluous.
THE fact is" said Mr.. Wright
that there is not room 1T Kendall
for two banks. and | doubt if there
is even a necessity for one. Wehaye
clearly demonstrated that to be a
fact and feel that under the circum-
stances. we would not be justified in
continuing the business there. The
current business will be transferred
back to the Bank Of Fergus County,
and in a short time the affairs Of the
Kendall State Bank will be wound
up
Mr.. Wright declined to discuss the
rumor that one of the banks at Moore
would shortly retire, leaving one bank
at Moore and another at Kendall. He
contented himself with saying that
the State Bank of Moore had made
a very fine showing, all things consid-
cred. and that the directors were well
satisfied with the situation, although
he admitted it would be good business
policy for the banks there to follow
the example set at Kendall
Mr.. Wright could not say whether
that would ultimately be done or not,
and was only sure that the State Bank
oil Moore would continue in business
cashier George J. Bach, of the First
National Bank, who organized the
First State Bank of Kendall, said that
no definite arrangement had been
made for either of the Moore banks
to retire, so far as he knew He took
exactly the same position as Cashier
Wright, saying that it would certain
~ be wise business policy for the two
Moore banks to reach an agreement
and for one to retire, but did not in
innate that the Citizens Bank con-
such move.
There is no doubt. however that
some such plan has been discussed.
and the general belief is that an agree
ment to that end will ultimately be
reached.
First National Meeting.
Ihc "hiiudi lHeellHS OI tne StOck-
holders of the First National Bank
was held last Tuesday, practically all
OF the stock being represented. The
following board of directors was elect
ed: Herman Often, David Hilger.
Geo. j. Bach, Harry Yaeger, G. M.
Stone, A. B. Lehman, Gordon o.
Shafer. John Laux and Nate McCau-
ley. The directors met in the even
ing and reelected the old officers, ex-
cept that Harry Yaeger was chosen to
fill the position of assistant cashier.
left vacant by the death of Walter
B. Miner. The usual annual divi-
dend of 10 per cent was declared.
and the report of the banks affairs
revealed most satisfactory condi-
ton. the deposits having increased
from about $4,000 to over $780,
300 during the year.