The Bismarck tribune. [volume] (Bismarck, N.D.) 1916-current, 1917-03-05
NEW BANKING
INSTITUTION FOR
;: ::::::IIC|TY ANNOUNCED
First Guaranty Bank Makes
Purchase of Lair Property
for It's Home
WILL ERECT BUILDING
TO COST ABOUT $4,000

OHlCldI announcement OF the puF-
chase from the Lair Motor Sales
company of it's two lots on Fourth
street by a new banking concern, to
be known as the First Guaranty bank,
for two.story building, to cost $780,
900, and the subsequent purchase Of.
the two lots to the north from E. A.
Hughes. known as the Beardsley
property, by the Lair Motor Sales
company, for the erection of $780,
900 two.story building, was made late
this afternoon by w. e. Lair, presi-
dent of the motor concern.
The direct significance attached to
the announcement depicts the growth
of the city in financial and building
lines and means two 3 new, modern
business blocks, costing total of
about $4,000, to he erected on Fourth
street during the coming months. The
contract for the 100000 bank build.
ing will call for its completion by
July l. In the meantime, the offices
for the new bank will be located in
the Haggart building on Third street.
Announcement was further made
that E. A. Hughes will build an addi-
ton to the Lair Motor Sales com.
pany's block with a frontage of so
feet, making the dimensions of the
new block 1OOx140 feet. The upstairs
of the Hughes block will be for apart.
ment purposes. The Hughes struc-
ture will cost $4,000, which, with
$4,000 expended by the Lair Motor
Sales company and $4,000 by the
First Guaranty bank, will mean $780,
900 in buildings on Fourth street this
coming summer.
viii Open Soon.
The exact date of the opening of
the new bank will be made after
meeting of the stockholders, which
will be held within few days, when
the officers of the new banking con-
Germ will be elected. The fixtures
and safe, it was stated by E. V. Lair,
have been ordered Plans and speci-
fications for the new building. as we'll
as the new home for the auto con-
Germ will be placed with an architect
this week. The removal of the build
ings will be started some time the
first of next week. it is planned.
Prominent Men Behind Project.
Connected with the new banking
project are: r. V. Lair, who has
been in the banking business in east.
ern North Dakota for period of nine
years; J. c.. Anderson, secretary of
the Lair Motor Sales company, who
has been connected with the banking
business in Bismarck and Wilton for
the last IS years; c. s. Mead, a
wealthy Yakima, Wash, banker, and
who is said to be the only out.of.town
stakeholder. W. E. Lair of this city
will also be connected with the instf
tuition. The names of other stock.
holders will be made public after the
meeting, but are said to include sew
eral prominent business, as well as
professional men of Bismarck.
The First Guaranty bank will be
capitalized at $4,000 and will be the
first bank in the state to be organ
lied under the guaranty law which
was passed by the Fifteenth legisla-
ture. The charter was originally is.
sued to the Peoples bank, but will
be changed to the First Guaranty
bank this week.
Fifty.foot Frontage.
The new institution located on the
same site of the Lair Motor Sales
company's present Offices, will have a
frontage on Fourth street of so feet.
The dimensions Of the building will
be 50x7O feet. There will be two sto.