Wausau pilot. [volume] (Wausau, Wis.) 1896-1940, 1907-07-23
PRELIMINARY ORGANIZATION.
Practically Assured That the West
Side Will Have Bank.

I
Upon call of those interested in es-
tablishing banking institution on the
west side, a meeting was held in Kroen-
ing's hall Thursday evening. There
was good attendance, about 100 being
present, and more than three -fourths of
this number had already subscribed for
stock.
| Fred Genrich was chosen chairman
OF the meeting and c. F. Beck, secre-
tary.
The purpose of the meeting was then
brought to the attention of those pres
ent and organization matters were
taken up and discussed Those who
have been instrumental in pushing the
movement gave very encouraging re-
ports and 1t was TIE opinion of most
everyone present that a bank located
on the west side of the river and con-
Quoted on right principles, would be a
{ paying institution. To get the bust
ness started right it was decided to ap-
point committees to carry on further
work in more systematic manner
than has been done heretofore and to
report at later meeting.
As a committee on Organization the
following were appointed Fred Gen
rich, Henry Ruder, Chas Barwig, w.
& Chellis and Henry Smith
The committee which will look up
location for the bank is as follows:
VIM. Waterhouse, A. F. Marquardt,
Chas Zahn, Chas F. Beck and Aug.
F. Kruger
Isaac LaCerte, w. R. Chellis, Henry
Ellenbecser, G. A. Barwig and Henry
Ruder were appointed as committee
to look after securing cashier, teller,
bookkeeper, etc.
The committee which will further
carry on the work of soliciting for tie
sale of stock is g. A. Oswald, A. 4
Marquardt and Aug Kroening.
Up to the time of the meeting q little
over $30, 900 in stock had been. sub
scribed, divided among about 80 stock
holders, or an average of 1915 to each
1t is proposed to make the capital
SOC, 900, so that there is still remaining
unsold $40, 600 worth of stock. In case
the committee has any difficulty in dis
posing of all this to stockholders in
small Jumps, as is desired, the other
stockholders have pledged themselves
to take up the remaining shares OF
stock. 1t is the plan to get in as many
stockholders as possible and from as
many different sections of the county
at least the western part of the county
as possible.
Several times within the past year
outside capitalists have visited the city
and interviewed business men of the
west side upon the proposition of es-
tabishiDg bank upon that side of the
river. The west side people feel that
it is better for the community's inter
ests to control such business themselves
and have taken ap the matter with a
view of getting started before outsiders
head them off They feel that bank
on that side of thu river will assist in
building up the business interests of
that side.
The bank will be organized under
the banking laws of the state of Wis
consin and will cater largely 20 the
business of the farming class For
that reason large number of farmers
have been taken in as stock holders
Within few days articles of incor-
poratiOn will be drawn up and filed
with the secretary of state, and soon
after the charter is granted the loca-
tion selected, the vaults, furniture, ETC.,
secured, the bank will be ready for
business.
Another meeting will be called in
the near future for the purpose of
listening to reports. of the different
committees, election of directors, off
GERS, etc, and furthering the work.
An effort will be made to secure a
central location on the west side and it
is thought the bank will be ready for
business by early fall.