The Fargo forum and daily republican. [volume] (Fargo, N.D.) 1894-1957, 1912-01-09

d. J. Weiser. former vice president
of the First National bank, was elect
ed president of that financial institu-
ton to succeed L. B. Hanna this aft
ernoon at 3 o'clock at the annual
meeting of the board Of directors. Mr..
Hanna's retirement is due to his be-
ing away from the city so much Of
the time and 1t is felt that the selec-
ton Of Mr.. Weiser is an excellent one
and one which will mean the continued
prosperity of the First National.
Aside from the election Of the above
named officers the following directors
were also elected:
Directors-Thomas Baker, jr., Peter
Elliott, L. B. Hanna, F. A. Irish, James
Kennedy, R. s.. Lewis, Peter Luger,
w. o. Olsen, w. A. Scott, J. w. Smith,
John s. Watson and E. ]. Weiser.
The New President.
Mr.. Weiser. the new president of the
First National bank, has been the ac-
tive manager of the institution for the
past six years. He is a banker train
ed in the business, comes from a fam
lily Of bankers and his policy has al
ways been a constructive one.
The new president believed in build
ing UP his business by building up the
state first and those who have closely
followed Mr.. Weiser's business career
in this city will note that that trait
has been demonstrated in almost every
business move he has made. He has
been active in the efforts of the agri-
culturalists in the movement toward
better farming and his interest in this
regard is shown when 1t is remembers
it was he who originated the 1000
corn contest which has done so much
good for the state.
Mr.. Hanna Resigns.
At the directors meeting this after
moor an interesting letter was read
from L B. Hanna, former president of
the bank, complimenting the directors
on the splendid condition of the insti-
tuition and the great success which it
has made. He expressed the wish, that
inasmuch as he had to be away from
Fargo 70 much Of the time, Mr.. ,Weiser
should 10 succeed him as president.
Mr.. Hanna's letter was very Opt
mistic and enthusiastic regarding the
future Of Fargo and Of North Dakota
and expressed his pleasure in still re-
naming a stockholder and director %
the institution with which he has SO
long been officially connected.
Suitable resolutions were adopted by
the directors expressing the esteem
and confidence in which Mr.. Hanna is
held by them and their qualification
that he is still to remain a member of
the board.
Fred Irish Reelected.
No officer of the First National bank
is more entitled to the credit for the
wonderful success and progress made
by that institution than Fred A. Irish,
who was reelected cashier. With
President Weiser, Mr.. Irish is one of
the pillars Of the bank and has done
much to further it's interests for a
number of years past.
Mr.. Irish has lived in Fargo nearly
all his life and enjoys a wide acquain-
lance and the confidence of everyon
He has many warm personal friends
in the city.
John S. Watson, the new vice presi-
dent, is one of the Oldest and best
known residents Of Fargo. He is wide
ly known for his integrity, conserva-
tism and good business judgment. For
many ear he has been attorney and
director of the bank and is thoroughly
in touch with all its affairs.
Both Messrs. Buxton and Nesbitt
have seen many years service in the
bank and have a large acquaintance in
the city and state. They are obliging
and courteous gentlemen who are
known for their high integrity and
good business judgment.
Mr.. Sorenson is one of Fargo's
prominent Scandinavians. He was
raised in this city and has a wide ac-
quaintance. He is a prominent mem
Der of the North Dakota National
Guard, which has made him widely
known over the state. He came into
the bank recently from the county
court, where he was reporter and clerk
for a number of years. He has made
good in his new position.
The First National Bank.
In a financial sense this stanch old
institution is stronger thar v The
first statement made to the comp
%troller of the treasury made after the
consolidation Of the First National
bank and the Red River Valley Nation
al bank on Jan. 20, 1906 showed a
combined capital, surplus and undi-
vided profits of 1858, 9S2.67.
The last statement on Dec. 5, 1911
showed a capital surplus and undi-
vided profits of $434, 753.47. In other
words the bank has increased it's
working capital and consequently it's
protection to ~depositors in that time
$3.50, 770.s0, making at this time a
capital including the liability of its
stockholders Of yer $685., 900, which is
by far the strongest showing OF any
bank in North or South Dakota.
1t is the policy of the bank to gradu.
ally increase the surplus as a further
protection to its business and to dc
everything to maintain the confidence
Of the people Of the state which it has
gained during the ~thirty-four years Of
its successful business existence.
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