Western liberal. (Lordsburg, N.M.) 1887-1919, 1915-10-29
DEPOSITORY FOR

A sure gauge of the prosperity of a community may be found in
the condition and responsibility of it's banking institutions. Reason
ing from that standpoint the Lordsburg district is particularly blessed
for it has in the First National Bank of Lordsburg, an institution that
has from its organization shown a healthy and consistent growth and
is now known as one of the soundest banking institutions in the south
west.
The First National Bank was organized on September 2, 1907, with
a capitalization of $4,000, by Frank R. Coon, who became one of the
directors and cashier of the institution, which positions he has held
ever since. John E. McCabe was elected president. Mr.. McCabe is a
prominent cattleman of the district and is now engaged in organizing
the Rio Grande Cattlemen's Loan Company of Ell Paso. w. H. Small,
formerly a prominent merchant but now retired from active business,
was elected vice president. The other members of the board of direc-
tors consisted OF John Robson. who first entered the district IS a pros
Pector n later became largely Interested in cattle, in which business
he is still engaged; J. P. Mansfield, also largely interested in the cat
tie business; D. H. Kedzie a prominent business man; and Frank R.
Coon.
But one change has been made in the personnel of the original
board of directors in the last eight vars. The death of Mr. Kedzie
necesstated the election of a new director and H. j. McGrath, a po-
neer and cattleman of the district and present sheriff of Grant county,
was chosen in his place.
In securing the services of Mr.. Coon, the organizer of the institu.
ton, to take the active management of its affairs, the First National
banking methods that peculiarly fitted him for handling the kind Of
business offered in this district. Beginning his banking career at the
ton of a few years, been identified with the banking business ever
since After leaving David City he became cashier of a bank at Octa-
assistant cashier of the American National Bank for several years.
In these places he learned the banking methods thoroughly as relating
to the cattle and mining business and thus equipped he came to Lords
burg and put this knowledge into active use by organizing the First
National and making a success of the institution.
AS evidence of the success of the First National a few figures may
be quoted.
On October 1 following the date of opening, the deposits were
S36,8O3O4. On January l, 1909 they had increased to $7O,9O529. This
was an increase of approximately 100 per cent and needless to say, the
board of directors was well satisfied. On January 1, 1910 the deposits
deviations the deposits increased year by year until at the time of the
last statement on September 2 of the current year, they had reached
the splendid figures of S17925552.
While the First National has among it's customers the business
men of Lordsburg and a number of the mining institutions contiguous,
it has depended and still depends for the bulk of its business upon
the cattlemen of the district. The reason for this is not far to seek
for it has been amply demonstrated within the past two years that
cattle are in times of stress real collateral. For instance, when the
European war broke out a little over a year ago, stock collateral loans
in New York city proved exceedingly hard to negotiate. But cattle
were negotiable at the banks and at the markets for their full value
and the result has been that the management Of the First National
has been fully justified in featuring that part of their business.