The Telegraph-courier. [volume] (Kenosha, Wis.) 1888-1946, 1907-07-04
Merchants and Savings Bank
Files Amendment to It's Ar.
ticles Of Incorporation
STOCK GROWS WlTHBUslNESs
Popular Banking Institution increases
It's Capital Stock From so, 900 to
$4,000. Makes Splendid Show
ing, A Strictly Local Bank

The Merchants & Savings Bank of
this city fled with the commissioner
OF banking at Madison today
articles for the amendment of the
articles of Incorporation of the iusti-
tuition by which the capital stock of
the bank is increased from SIS, 900 to
$50, 900. The change in the stock of
the bank has been made necessary by
the great increase in the business of
the institution. During the past
month the deposits of the bank have
passed the $250,O0O mark and Presi-
dent Henry B. Robinson, who is one
OF the strongest supporters of con-
servative banking in the state, at
once notified the State Department of
Banking that the capital stock would
be increased to take care of the in
crease ia the deposits. cit is my
opinion said President Robinson
when seen this morning, "that
all conservative banking institu-
tons should follow the general rule
OF having capital of ten percent of
the deposits intrusted to the institu-
ton and this is largely the reason for
the increase in the capital stock of
the Merchants & Savings Bank. 1t
is our intention to run a conservative
banking business and furnish the
depositors with every possible pro-
lection and this rule of ten percent
capital is recognized as one of the
best rules Of the banking business.
The change in the capital stock will
not make any great change in the
business. We have been gratified by
the growth of the business of the
bank and the confidence shown in the
institution by the people of Kenosha
and kenosha county, and we simply
make this change to show our appre-
ciation.''
The State Department of Banking
has urged that this 1ale be adopted by
all banks doing business under state
charter, but many of them have not
compiled with the proposed rule and
t re is no state law to force such
compliance.
The growth of the Merchants and
Savings Bank has been one of the most
interesting chapters in the financial
history of 'the past decade in Keno.
sha. Ten years ago Mr.. Robinson
opened the bank as a private bank,
and when it was incorporated under
the State Banking laws in 1900 it had
q capital stock of $4,000 and deposits
of about three times this sum. Dur
ing the last five years the bank has
been making great strides and the to-
tai deposits, as shown by the last
statement, issued only few days ago,
were nearly $25O,0O0, while taking into
consideration the undivided profits,
the total was considerable over the
quarter million mark.
The bank has been made a strictly
local bank, and much of it's money
has been invested in property right
here IN Kenosha county, and fnan-
cial experts have declared that this is
the best possible security.
Only recently A. E. Kuolt, formerly
one of the Wisconsin State Bank ex-
dAAAuCASS w as Cdl4SO To 1h0uOSnd TO De-
come the cashier of the bank, and
under his direction the practical
workings of the bank are being
brought to high degree of perfec-
ton. Mr.. Kuolt has brought to the
bank wide knowledge of the bank
ing business in Wisconsin, and has
brought new methods of the most
approved order. The officials of the
bank are all we'll known Kenosha
people. The list of officers is as fol-
lows:
President-Henry B. Robinson.
Vice-President-G. P. Robinson.
Cashier-A. E. Kuolt.
Asst. Cashiers H. B. Kotz, M. A.
Kent.
The directors are: H. B. Robinson,
G. P. Robinson, H. 3. Kotz and A. E.
Koult.