Montpelier examiner. [volume] (Montpelier, Idaho) 1895-1937, 1920-12-10
M III u N d w ] ! I
BANK or MONTPELIER

lnHaHmHaaaliaalEanHan AHHHanaalM
The Bank OF Montpelier was in
coroprated May 18, 1881 SO is now in
its 3Oth year and under the same
management. Mr.. S. B. Thompson,
Of Chicago was its first president and
Mr.. G. C. Gray Of Ovid, New York
was its first cashier, Mr.. Gray COM
ing from Iowa to build an office and
take charge. Its authorized capital
was $4,000, OF which $4,000 was
paid up and it was incorporated for
fifty years both the amount and the
time seeming to the founders to be
figures beyond expectations. Green
River was the nearest banking town
on the east and Pocatello on the west
had one bank, so the people were
ready for a bank. The railroad boys
had been in the habit Of getting all
their pay checks and hurrylng
around to various stores9to get them
cashed as they knew the actual cur
rency would not last long and first
come would be first served. The
bank was welcomed as a means to
cash nay checks. As every railroad
man wanted his check cashed the
day 1t came for the full amount, by
night there was little money in the
banks vault, but 1t drifted back in
a couple Of days. The people were
slow about depositing, some naer-
chants waiting until they had an
amount like $500 before they would
make o deposit so lit was slow work
getting the business on q paying ba-
sis.
In couple Of years the business
began to grow but is was unfortunate
that it did, as 1t ran into the year
Of 1893, in which year occurred the
worst panic known. During nearly
six months of that summer the de-
posits of the Bank of Montpelier
were probably one quarter Of the
amount they had been in the spring
but the officers were happy as the
storm had passed and the bank was
safe. There was a steady growth aft
ter this panic although there were
numerous financial disturbances ev-
cry year bringing on some fianclal
trouble.
In 1896 on the afternoon OF Aug
ust 18th, the Cassidy gang road into
Montpelier and robbed the Bank of
all the cash in sight, which however
in those days was not so large being
some $1,000. They were experts at
the business and got away although
Sheriff and the citizens did good
work and in an attempt to follow
and arrest them. The gang had a
relay Of good horses and rode for the
north and east and it was impossible
to oyertake them. The officers Of
the bank had sensed the danger Of
a day light holdup and three months
before had secured an insurance pol
ley of $4,000, so the banks loss was
some $1,000, but is was very dis
eouraging after five years OF panicF
and hard times. Then followed some
ten years Of slow growth coming tht
cash panic of 1907. The panic Of
1893 was a panic of depositors
mainly the farmers and was long and
serious but the panic of 1907 was q
panic of the bankers starting in New
York city where the banks refused
to pay cash to depositors although
they had plenty or actual money t.
do so. It spread all over the United
States and although it made a 10
of trouble in comparison to those
who went through the panic Of 1898
it was chfld's play.
In 1904 the state legislature pas
sed state banking law and each leg
islature has made laws more strin
gent Some time later the Stat
Banking Department. gave each Stat
bank a number and they were numb
cred according to the date their in
corporation papers were filed and
was found that the Bank of Montpel
Ter was the Oldest in this respeC
and it was designated as N. /. Their
are other banks older but they eitf
or went out of business or were pr
vate banks In 1891 incorporating !
later date.
At the present time Mr. G. G. Ora