The Alaska citizen., 1911-02-22
Miss Wrenn Note,

EllSS "ISHf NOle.
 As Miss Wrenn was stenographe for the Fairbanks Banking Com rany when i. paid its dividend i, April 1910, she thought il goo, stock to own. and asked me if " uId sell her some stock. ther to,1 her that I would. but that did not expect that the bank woulo make much. if any. profit for 1910 She thought differently and fin ally sold her $lo.099 worth O stock. agreeing to take it back a par any time she wished to sell it She said she could get money iron her uncle 10 buy same.
 The stock was transferred 10 he and she gave me her note for S5,00i and ! was to get 5000 in casl when she received il fgom her uncle Tn he meantime her uncle wrote he that he could not send her th, monry just then, but would later Sh.rfly after this she got a lette' from her brother asking her 10 sent him some money as he had a gOoC chance 10 get in n some goot oil buys She came to me anC wanted 10 know i would loan hel <5.0hn on her note and the stock Tn the meantime she was expectini 'his money from her uncle. whicl was 70 bp turned over to me
 told her to ask MT Jackson abOu fhc loan which she did MT Jack srn came 10 me and we agreed tt let her have it. and while I dit moi endorse :he note. told MT Jackson that I would guarantee the ravmcnt of it. The money was paid to her and her note for s500t and the S10o00 worth of stock was taken by the bank My recollecticr ie that she got a draft for this anC sent it to her brother Shortly af ter this she went Outside, but before going. and not having received the m0ncv from her uncle, she gave me a no'e of 5000 for such time unti tue money should arrive from hel uncle. When she got Outside she found her brother still had the money she sent to him. He die not invest it as by the time he received it oil stocks had gone down She then had this money on hand and when she heard the bank haC suspended and that her name was h. ing used in connection with the failure, she immediately wired the am~unt of the note and interest tc the bank.
 l considered that as long as guaranteed this note that it was not necessary for the board to pass or it
 First National Bank.
 AS the banking business had beer q three-cornered fight, making ex pens heavy and profits small. MT Parsons and myself considered ii good business policy to buy the First National bank. The Fairbanks Banking company and the Wash inecon-Alaska bank therefore pur chased the First National bank holding equal share in the same.
 Shortly after this buy was made we learned that Mir Wood was about to open another bank, which would place us in the same DO si'ion We were before we purchased the First National bank. l had an interview with Mir. Wood and asked him if he intended opening the bank and he said he had been making such arrangements MT Parsons and myself offered him the cash icrship of the First National bank at a salary of $500 per month, if he would drop the matter of opening up new bank We had paid a profit on the First National Bank stock, and further agreed with MT Wood that if he could bring the $ Ock up to certain value we would give him a bonus of 5000 and if h. could bring it up to the value of what We paid for it We would give him a bonus of s10,O00 He asked time to consider 1t and finally agreed to accept our offer if we would give him an option from May 1, 1910 to June 1, 1910, to buy tie First National bank at the same figure We had paid for it, always providing, however, that there had not been a transfer made in the meantime. We agreed to this and MT Wood went in as cashier
 Mir. Parsons and myself did not notify our directors of this bonus or option as we feared it would cause dissatisfaction among our other employees. When the right time came, if the directors were not satisfied, we aimed to pay the bonus ourselves. In the matter of the option a transfer at any time would make that void.
 Washington-AIaska Bank.
 The Fairbanks Banking company purchased the Washington Alaska bank and its one-half interest in the First National bank the fall of 1909. Mir. Hill, MT. Dusenbury and Mir. McGinn, our attorney, handled the details entirely, but my recol- lection of it is that We paid the actual worth of the stock which in, cluded all the accrued interest fig. ured to date of purchase and all es- timated profits on gold dust after deprec citation was made for probable loss in bad loans.
 Our directors then appointed Mir R. c. Wood general manager of the three banks at salary of $500 a month. MT. J. A. Jackson was cashier and manager of the Fair. banks Banking Company, and MT. George Wesch was cashier and man. ager of the Washington-Alaska bank.
 must admit I overlooked the matter of the outstanding option to MT. R. c. Wood on the First Ma. tional bank given by MT. Parsons and myself, and when the time