Wood County reporter. [volume] (Grand Rapids [i.e. Wisconsin Rapids], Wis.) 1857-1923, 1911-08-31
WOOD COUNTY
NATIONAL BANK
CHARTER EXTENDED
For Another Twenty Years

The Wood County National Bank
has just received a renewal of its
eminent. National Bank Charters are
granted for periods of twenty years
and extended for similar period,
providing the bank making appli-
cation for an extension is found to
be In good condition after a special
examination by a Government bank
examiner
The Charter of the Wood County
National bank expired August 9th.
The special examination of the banks
affairs was made on Friday and Sat
urday, August 4th and 5th, and the
following Thursday a letter was re-
ceived by the bank officials from
the Comptroller of the Currency at
Washington, D. c., announcing that
the report made by the examiner was
found perfectly satisfactory, and
that the banks Charter would be
extended for the usual period of
twenty years.
The renewal certificate was sent
from Washington on August 26th, and
received at the bank in due time.
The Wood County National bank
was opened for business November
1891, and at the close of the. first
days business had deposits of
s9,952.58, with resources of $50, SOY 81
After twenty years of successful
banking this institution now has de-
posts of over NINE HUNDRED
THOUSAND and total resources of a
MILLION AND A QUARTER DOL
LARS.
The first officers and directors
elected at the organization meeting
Of this bank were as follows: Frank
Garrison, President, L. M. Alexander,
Vice President, and F. ]. Wood,
Cashier. Directors: Frank Garrison,
L. NJ. Alexander, T. E. Nash, E. Roen-
ius and F. ]. Wood. A few years
later Mr.. D. B. Philleo was elect
ed Assistant Cashier, and acted in
that capacity until February 1, 1911,
when he voluntarily resigned. After
the death of Mr.. Frank Garrison,
whose services and splendid business
ability had been of great value to
the bank, Mr.. F. j. Wood was elect
ed to the Presidency, and continues
to hold that office at the present
time
All of the original directors, with
the exception of Mr.. Garrison, are
members of the Board of Directors
today, and under their guidance, with
the additional members added to
the Board, has this bank enjoyed SO
prosperous a career.
In August 1906 Mr.. Guy o. Bah
cock was elected Cashier to fill the
vacancy caused by the promotion OF
Mr.. F. J. Wood to the Presidency.
The officers and directors at pres
ent are as follows: F. ]. Wood, pres
ident, L. NJ. Alexander, vice presi-
dent, Guy o. Babcock, cashier, and
Warren G. Fisher, assistant cash
Ter. Directors: L. NJ Alexander, F.
J. Wood, T. E. Nash. G. F. Steele, E,
Roenius, Judson c. Rosebush, L. E.
Nash, T. E. Mullen and Guy o. Bah
| cock.
There are seventy-one stockhold
ers, most of whom are residents of
Grand Rapids and Wood County.
The bank was originally organized
with 100000 paid in capital This
amount has since been increased to
500, 100000 in addition to which they
have a surplus of 500, 100000, every
dollar of which has been earned,
making it the largest banking insti-
tuition in Wood county.
They have also paid to the stock
holders regular semi-annual dividends
from the earnings.
For nearly nineteen years the bus
| mess of the bank was conducted in
it's original quarters, which natural
ly became too small for their rapid
ly increasing business. At the an
nual stockholders meeting in January
1909, the directors were authorized
to secure plans and erect a new
bank building. Work was immed-
lately started, and in May 1911 the
books, cash and securities were
moved into the new quarters, where
business was commenced in the
beautiful and commodious new fire
proof building which the bank now
occupies.
During these years the officials of
this bank have endeavored to serve
their patrons fairly and to the best
of their ability 1t has also been
their aim and purpose to aid in the
up-building of Grand Rapids and
Wood County.