The weekly Iberian. (New Iberia, La.) 1894-1946, 1914-09-26
BANK CONSOLIDATION.

Plana are af0ot Tor the ConsolI.
datlon Of two ef New lberia's
banke-the Peoples National Bank
win absorb the Cltizpn's (State)
Bank All of he preliminary ne
! goiiations have been had aud i
definite line of ~, ,crIute has been
mapped out. II lhe transfer -
made, it will take place With The
close Of the yelr .luvt what in
iiupuOe will he vni kpd upnu Tire
officers ana employees, Is NOT yer
trauspired. ihe banks usual +
elect their directors IA the urg'u-
ming of the year and The next
coming election viii have to tell
it's own story. 10 far ~ the next
board of ditrctors Is concerned,
with more stock aud greater
number of stockholders parlleIrat-
lng
The Peoples National B,nk was
capilallzrd ~ S50,O and il car
' itF litN y Fhi l'lAH ~ N'os shfFf
With undivided proii 4, at the
time of lis last published state
ment, Of 81. .IO3 81 II owns its
own home aud furnishings lis
real estate holding are appraised
ut SIG 800 The Citizens Bank
vas also capita zed pt 800 0Oo
and bad a snrplns, on jane 20 IF
this year, Of &3oj 90. with uudi
vldeh profits cf SS,025 % II oe-
cuplrs leased ptemleea Ia conso
lidatiug the two institutions the
certificates of stock now stand
ing will be called in and exchaug
ed for new issue. harmoniz d in
value The new stock issued will
reach probably sl20, n00 or 1925,
600
The first set Of Stock kholders of
the Peoples National Bank were
convened in the hall Of the Mech
aucs Il rtajeta' Exchange, (the
apartments now occupied by The
Cumberland Telephone Exchange.
above the Ihrrlau oi1ices,) fol he
purpose Of "transacting important
business and peifrcling lie organ
izalion," on February 7th. 1891,
at ) y N. The call for This meet
ing was issued on Feb'y 2nd. by
Leopold Levy as seeretafy. This
meeting was called TO order
by w. + SaJterfnld Most of
the subscribers for stock were
present at ,bis meeting, Judge
Fred l.. Gates was chosen as
chairman and presided. Wm u
Weeks was selected as Notary for
the organization. a nommittee
on building aud location was ap.
pointed. composed Of Judge II l..
Gates, Capt. I. l. Morse aud Geo
Simon.
Mr.. s. q. Thomas, Of New Or
leans, was elected as President Of
the Bank on February 10Th.
1891. at this time Judge It. L
Gates became the Vice Presidents;
w. E. Satter6eld, Cashier; Juo
t. DeValcourt, assistant cashier
and bookkeeper; aud the follow
ing gentlemen composed the
banks frat directorate:
8. O. Thomas, Leopold Levy,
L. l.. Gates, L. Goguenhem,
w. H. Satterlield, u l. Morse.
Aug. Erath, Dave Iaugnlin,
Geo Simon.
Mr.. NJ Galliaud was elected 10
membership on he board Of di
rectors and succeeded TO the office
of Vice President on January
nth, 1898
Mr.. Jas Gebert was elected a
director on April 23rd, 1895, to fiji
the vacancy caused by the death
OF Paul GUgnenhem On January
18th, 1898, Mr.. Gebert became the
President, which position he held
in succession till his death, Octo-
Der 18th, 1906
Mr. w. 4 Sattetfiell, who had
been one of the promoters of the
institution, contracted the "Cali
fornia fever" resigned Cashier
ship, January goth, 1903, dispos
ed of all his interests here and
moved with his family to Oalifor.
MIA Mr.. Edgar ID Delhommer.
who, for several years had held
snbuIdiDate positions in The
banks counting room, succeeded
his old chief. lie has held this
position down to the present day
without interruption.
Mr.. Lazard King, one of the
foremost business men of tins
city, became Vice President of
the board 10 1908 In 1906, FOL
lowing the death of President
James Gebert. he logically sue
ceeded to the higher Office. This
position he has ever since filled
with marked ability down to the
present time.
Mr. G.. Clifford Laughlln, who,
became a member of the board of
directors in 1898, was elected to
he office OF Wee President to FIJI
the vacancy cause by the promo
ton Of Mr. King. Mr. Laughin