Vermont phÅ“nix. [volume] (Brattleboro, Vt.) 1834-1955, 1917-05-25
LOAN COMPANIES
IN COMBINATION
Vermont Loan & Trust Co, Sells
Stock to Day & Hansen
Putnam Remains as Eastern Head -
Brattleboro Office Will Be Maintained
Under His Supervision.


Wash, recently of the purchase by the
Day & Hansen Security company of
the Vermont Loan & Trust company,
which has its eastern office in Battle
boro. The companies will continue to
retain their separate Identities and
names and for the most part their
present officers and Office organizations.
The local Office will be continued under
the direction of Frank b. Putnam, who
has been connected with the concern
20 years. II. r. Rogers, secretary and
western manager of the Vermont Loan
& Trust company, will be elected
director and active vice president of
the Day g. Hansen company, while G.
T. Hansen and w. T. Day will be
elected president and vice president
respectively of the Vermont Loan &
Trust company.
In speaking of the transaction the
Spokane Spokesman.Review said re-
cently:-
The Day G. Hansen company has
on its books $5,OOO,OOO in farm mort
cages, and the acquisition of. the Yer
nont Loan and Trust increases the
farm mortgage investment business
with the Day & Hansen company to
over $l20,000,000. The Vermont Loan
and Trust has capital and surplus of
$2s0,000, assets over $725,00O, and has
on its books mortgage loans amount
ing to approximately $5,O00,O0O. 1t
has operated out of Spokane for 2S
years and in that time has loaned over
$30,000,000 to farmers in Montana,
Idaho, Oregon and Washington.
The Vermont Loan and Trust was
organized at Grand Forks, N. d., 81
years ago, opening an office in Spo-
organized by II. L. Withheld, +. j.
Holman and associates, principally of
Vermont, to carry on a farm mortgage
business. During the early part of it's
operation Ii. l.. Withheld of Minncap-
oils and +. j. Holman Of Spokane were
active executive heads.
In 1897 X. II. Rogers became con.
nccted with the company as secretary
and with Mr.. Holman had active
charge of the business throughout the
northwest until 1910, when Mr.. Holman
retired from active work in the COM
pany. Since that date Mr.. Rogers has
been secretary and western manager.
In the fall of 1913 j. NJ. Smcad, for
mcrly Of Greenfield, Mass, purchased
an interest in the company and as
sumcd the presidency. Mr.. Smead has
been dcvoting his time partly in the
west and partly in connection with the
sales department in the cast, being a
resident of Spokane. ~T7f -EE
T.. b. Putnam is director of the
a,,1 I.
charge of the eastern office, located at
Brattleboro, VT, as sales manager Mr..
Putnam has been connected with the
company for 25 years. He is also di-
rector of the Peoples National bank
of Brattlcboro and is connected with
other prominent financial institutions
in New England.
The period of 1898 to 1900 was q
strenuous time for all mortgage com
panies throughout the United Estates.
OF the 80 mortgage companies then
licensed to do business in Vermont the
Vermont Loan and Trust was the only
one that weathcrcd the storm and CON
tinucd successfully in business under
license in Vermont.
The company includes among its in
vestors the Prudential Life Insurance
company, many of the large savings
banks in the New England states, also
thousands of individual investors,
executors and trustees of estates.
Negotiations for the purchase and
sale of the company have been under
consideration for the last two months,
caused principally by the ill-hcalth of
Mr.. Whitfield. Mr.. Smcad felt that on
account of his large business interest
which he had in the east that it would
be necessary for the present to be re-
heved of the responsibilities incident
to the business. However, he will re-
turn to Spokane in the near future.
By the Day & Hansen company talk
ing over the stock in the Vermont
Loan and Trust it will not in way
interfere with the present local man
agcment nor with the eastern sales de-
partmcnt, as r. r. Rogers will remain
with the company as secretary and
manager and +. b. Putnam of Brattle-
boro as eastern sales manager. Mr..
Day and Mr.. Hansen formerly lived in
western Iowa, where they were extern
sivcly engaged in the farm mortgage
and banking business.
The Day & Hansen Security com
pany has a fully paid capital and sur
plus of $1,S00,000, with assets of 49,
100000 1t has a large farm mort
gage business throughout Washington,
Oregon, Idaho and Montana, and con
trolls n number of banks in the Inland
Empire, comprising the following:
Watervillc Savings bank, CONNER.
cial Bank and Trust company, Wen
atchce; National Bank of Oalscsdalc,
Moscow State bank and Blair q Co.,
bankers, Helmvillc, Mont.
This company is the western cor.
respondent for the farm mortgage
loans for the John Hancock Mutual
Insurance company of Boston, the New
York Life Insurance company OF New
York, and it also has as its investors
a number of large colleges and savings
banks, and a large number of private
investors, executors and trustees of
estates throughout the middle states
and the east.
The two companies combined have
many local representatives throughout
the four northwestern states.