The Telegraph-courier. [volume] (Kenosha, Wis.) 1888-1946, 1915-09-30
TO HAVE EIGHTY STOCKHOLDERS
Well known Men of the City Are
Named in the Application for the
Charter, and Banking House Will Be
Located in Public Service Building.

tnlS morning an applcatlon was hled
with the Commissioner of Banking
at Madison for charter for
The Citizens Bank of Kenosha. y
The new bank will have a capital of
fifty thousand dollars and surplus of
five thousand dollars when it opens its
doors the first of next December. All
OF the capital stock with the excep-
ton of three thousand dollars was dis
posed of in four days, the work of
disposing of the stock being in the
hands of E. 7. O'Brien of Kaukauna,
an experienced banker, who is now
moving his family to Kenosha and
who later will take up the position of
cashier of the new bank.
The application for the charter is
signed by E. T. o 'Brien, N. J. Werner,
Frank Oberst, A. Landgren and Ed
ward Dayton. It is announced that
the new financial institution will have
more than eighty stockholders and that
the list will be representative of every
wall. of life in Kenosha. In order to
stock was sold at one hundred and ten
dollars share and the number of
shares sold to any individual was linn
tied to five.
The list of stockholders In the new
bank has not been made public, but
it is declared that men prominent
throughout the city have been secured
as stockholders.
Less than week ago Mr.. O'Brien
came to Kenosha and met small
number of men of the city interested
in opening bank and he at once
started the work of securing subscrip-
lions for the capital stock. The sub
scriptions came so fast that some peo-
pie were unable to secure the amount
of stock they desired.
1t is declared that every nationality
represented in the city will be repre-
sented in the list of stockholders.
Three thousand dollars of the stock
was withheld from circulation and it
will be disposed of later with the under
standing that but one share will be
sold to stakeholder. Not one Of the
so-called wealthy men" of Kenosha
has been asked to take stock in the
new bank and it is to be emphtically
a bank Of the people.
The new bank will be located in the
room in the Public Service building
now occupied by Hugh Wallace as
harness shop. A ten year lease with
a privilege of ten years more has been
taken on the room and it will be re-
modelled at once and converted into a
modern banking building.
The contract for the vaults and
other fittings of the bank will be let
just as soon as the state charter has
been issued and it is now planned to
open the new bank for deposits on the
first day of December.
Directors and officers Of the new
bank will be named within the next
few weeks It is said that the bank
will be officiated entirely by local ,Tnen
with the exception of Mr.. O'Brien,
who is to be the cashier. He was Sc
lected for this position on account of
his long experience in the banking
business in Kaukauna and other cities.
The announcement Of the plans for
the new bank will come as a surprise
to many people in the city as few had
known that the plans had advanced to
the place where the promoters would
be ready to ask for a state charter.
The list of stockholders in the bank
is such a long one and representative
of so many different elements in the
life of Kenosha that it seems certain
that the new bank will have large
following.
The promoters of the new financial
institution declare that every provi-
sion for the safety and convenience of
depositors will be made In connec-
ton with the bank there viii be in
stalled a complete set of deposit vaults.
Announcement of the meeting of
the stockholders for electing a board
of directors and officers will be made
within the next few days.