The Mitchell capital. (Mitchell, Dakota [S.D.]) 1879-1918, 1907-01-11
on BUILDING lPRoPoSifioH
At Western National Banks Annual
Meeting Stockholders Take
Favorable View of It.

GoVOIdOl0 vlGW OK ~.
Wednesday evening the last session
OF the annual business meeting of
the Western National bank was held
and an adjournment was taken after
a further discussion OF the project
laid before the stockholders. The
annual meeting continued over from
Wednesday orning. A board of
seven directors was elected consisting
OF the following: Joseph Harker,
l. w. Seaman, NJ. Nj. Doyle, John
II. Creighton, r. p. Loomis. and S.
%. Morris, of Mitchell. and T.. j.
Blain. of Redtield. The board re-
elected $. e. Morris president, and
r. p. Loomis cashier. These gentle
men. in connection with ths board
OF directors, are possessed of the
strong characteristics, excellent bust
ness acumen as to bring this financial
institution to the forefront in the
state n northwest. They have an
extensive and favorable acquaiu-
lance over the state and are
thoroughly acquainted with the con-
ditions OF this common wealth. The
officers are very much interested in
the growth and development of the
business interest of Mitchell, as they
evidenced by thei1 action in the con-
sideratlon of the building project.
which now stands in a very favorable
light. and they have the good back
ing and earnest moral support of
many business men in carrying their
plans into execution.
AT these meetings the proposition
OF a -four STORY bank and office build
ing on the banks lots at the corner
of Third and Main was thoroughly
discussed. Ever since this promi-
nent location was secured last sum-
mer there has been more or less talk
OF a good building in the near future
and especially so from a number OF
office men who felt the need and
regarded the time and location as
suitable. In view Of this the direc-
tors felt impelled to consider the
matter seriously and some SIX weeks
ago notices we're sent to all stock
holders that the matter would come
up at the annual meeting in the
shape of a resolution to increase the
capital to sl00, 600 and put up such
a building.
The stockholders from out of town
and the local men without exception
expressed confidence in the future of
the city and expressed a willingness
to increase their investment along
co 1seryative lines. 1t was agreed
that rushing up such a building
either to boom the city or boom tie
bank would likely fail in the end Of
its purpose and that a large modern
building standing mostly empty
would be a bad advertisement for all
concerned.
% On the other hand such a build
ing reasonably we'll filled with good
professional and business. men.
a1Tording a prominent location for
the bank and producing an income
commensurate with the cost, would
be a sound and conservative business
proposition. a resolution was''passed
authorizing the increase of capital
to 100000 TO be called in as. needed
by the directors if the building was
built, and authorizing the construc-
the building as soon as sufficient
floor space was let to Justify the
undertaking.
President Morris stated this morn
ing that the board of directors would
proceed with the plans and arrang-
ing of space to suit tenants as rapidly
as posi- ole and that there would be
no time to lose i'm this part of the
work as if tenants were assured and
the building undertaken it would
be the policy to let the contracts
early and begin wrecking the old
building and excavating as soon as
frost was we'll out of the ground.
,a,.,l suor o.nnn, ~ ann