The San Juan islander. [volume] (Friday Harbor, Wash.) 1898-1914, 1907-09-07
THE first bank statement pub
~ lished in this couf ty under the

THE first bank statement pub
- lished in this equity under the
provisions of the new state banking
law appears in the ISLANDER today.
1t is a fine showing for one of the
soundest and most conservatively
managed country banks in the state.
The San Juan County Bank was es
tablished and Incorporated in 1898 by
Leander Clark, of Iowa, W O was the
first president, G. E. Olney, of Marys
vile, this state, vice-president, and
]. A. Gould, cashier. After few
years Mr.. Gould acquired the interest
of Mr.. Clark aid subsequently that
of Mr.. Olney also and since that time
he and his son have owned and man
aged the institution. Because of his
large interests in Seattle and Everett
Mr.. J. A. Gould retired few months
ago from the presidency of the bank,
being succeeded by his son, Mr.. Gene
C. Gould, who is one of the youngest
bank presidents in she state.
The bank has played a very i'm
portant part in the upbuilding of the
county, making loans on real estate
at moderate rates of interest and
never resorting to oppressive meas
ures to enforce collections, even dur
ing the hard times prevalent over the
entire country when the bank began
business. It does large business,
for small place, in making short
time loans to business men and others
and it's methods of business and the
courtesy of its officers are matters of
frequent and favorable comment. By
reference to its published statement
it will be seen that its loans and dis
counts amount to over $127, 900 and
it's deposits to over $177, 900. No ad-
vance notice is given by the state
bank examiner of the dates upon
which statements will be called, so
that the banks have no opportunity
to arrange their business so as to
make an especially fine showing on a
particular date.
The law requires all state banks to
carry on hand at all times in avail
able funds not less than twenty per
cent of their demand liabilities. Ac-
cording to it's statement the local
bank had on hand August 20 forty
three per cent of its demand liabili-
ties and the president states that it
is the policy of the management not
to let this percentage fall below forty
at any time and the average is nearer
fifty.
Besides transacting general bank
ing business the bank has savings
department, established a year or two
ago, and its savings ard time deposits
amount to nearly $4,000. Four per
cent interest is paid on savings ac-
counts and four and one-half per cent
on time certificates Of deposit for not
less than one year. The bank is a
member of the American and State
Bankers Associations and its en-
ployees are bonded by one OF the
staongest fidelity bonding companies.
No loa.s are made to its stock hold
ers, directors or employees and every
possible precaution is taken to safe
guard the interests Of its depositors.
The new home Of the bank, hand
some two story, fire-proof structure,
now nearing completion, is the finest
building in the county and one of the
finest of its size in the state. The
present officers of the bank are Gene
G. Gould, president; c. NJ. Tucker,
former county treasurer, vice-presi-
dent, and Van E. Sargent, cashier.
James Scribner has been gaining
nicely since his return from the hos
pital in Bellingham and now plans,
with Mrs. Scribner, to spend the fall
and winter at the home Of their son,
at Duluth, Mimi. They have rented
their home on Argyle avenue toJ. 81.
Mckenzie.