Bonners Ferry herald. [volume] (Bonners Ferry, Idaho) 1904-current, 1917-04-03


and w. P. Mahoney, is doing bust
ness today under new management,
the deal for the purchase of the
banking business and building by f.
w. Anderson and his associates of
Spokane, having been closed last
evening.
Since its organization the First
State Bank has been actively man.
aged by Messrs. Mahoney and Bax-
ter. Recently Mr.. Mahoney pur-
chased an interest in and accepted
the cashiership of the First National
Bank of Heppner, Ore. He arrived
in the city last evening and will re-
main here several DAYS visiting with
friends and looking after personal
business.
w. ID. Baxter, until today cashier
of the First State Bank, and ]. l.
Monks, former president of the in
stitution, will continue to make Bon
ners Ferry their home in order that
they may keep in close touch with
their business interests and holdings
F. w. Anderson, the new presi-
dent of the First State Bank, is not
an entire stranger in Bonners Ferry
as number of local people are from
Blue Earth, Mimi, Mr.. Anderson's
home town. where he was connected
with the Farmers and Merchants
Bank which was organized by his
father and uncle.
Sixteen years ago Mr.. Anderson
located at Davenport, Wash, where
he organized the Lincoln County
State Bank and still owns a con.
trolling interest in that institution
He also owns a controlling interest
in the Hunters Bank. at Hunters
Wash, and is a stakeholder in sew
eral other. country banks in the Bis
Bend country as well as one of The
Spokane banks. Mr.. Anderson i.
thoroughly acquainted with the coun
try banking business and has beer
actively engaged in this line for tn,
past 81 years.
Three years ago he moved to Spo
kane and organized the F. w. An
derson Mortgage and Investmen
Company, Inc, which acts as a hold
ing company for the different bank
ing interests as well as handling
large farm loan business and invest
ment securities.
In an interview with the Heral,
this morning Mr.. Anderson state,
that his object in buying the FRS
State Bank was, first, that after
most careful and rigid examination
of the banks affairs, they wer
found to be in excellent condition
/ Mr.. Reid, former bank examiner 70
the state of Idaho. who helped aud
it the bank, stated that ian his opin
ion the First State Bank of Bonner
Ferry is one of the best regulates
banks that has come under his oh
! servation at this time, and that Will
he was bank examiner and had tn
opportunity of investigating differ
ent banks throughout the state, h
always considered the First Stat
Bank of Bonnery Ferry to be on
of the very best banking institution
in the state.
In addition to the excellent condi
tions that existed Mr.. Anderson fur
Their stated that it was necessar
for them to get into a locality wher
they could get an outlet for tn
loaning of money. The different 10
calities in which their other bank
are located are such that on accoun
of the large wheat crops and the ex
cellent prices for the last few years
it has been impossible to secure a
outlet for idle money. He ais
stated that from his observation
appeared to him that Bonners Ferr
had the brightest outlook of an
locality of which he knew for devel
opment, and anticipated that With
the next few years this district woul
have greater development than an
country that he knew of.
]. Bert Cowen, who was electe
cashier of the First State Bank, an
who will take active management
of its affairs, is a man of a grea
deal of experience in country banks
having been connected with Mr.. An
derson for a number of years i
the Lincoln County State Bank a
Davenport, and for the past tire
years acting as secretary and treas
urer of the F. w. Anderson Mort
gage and Investment company of
fees in Spokane. Mr.. Cowen i
looking for a suitable home for
residence, and as soon as satisfac
tory arrangements can be made, wi
move his family here.
Otto Mathiesen, who has been con
nected with the First State Ban
for many years, will remain in tn
institution as assistant cashier an