East Oregonian : E.O. (Pendleton, OR) 1888-current, 1920-11-23
State Superintendent Of Banks
Tenders Resignation and
Will Become viCe-PreSident
of Local Financial House.
ILLNESS FORCES PRESENT
CASHIER TO LEAVE CITY
Family Will Go South But Plans
for Immediate Future Are
Undecided; Selection of Sue
CessOr Follows Study.

State Superintendent of Banks VIII
II. Bennett will succeed e. Il. WALES
as vice-president and cashier Of the
Inland Empire Bank, on January !,
1921. It was announced today by Pres
idcnt j. w. Maloney OF the local in
stitution News OF the contemplated
change was released last evening at
Salem when Governor Ben Olcott an
nopnced that Mr.. Bennett had tender
ed his resignation TO become effect
i've December 81.
MIR. Bennett has arranged to pur-
chase the stock now held by Mr..
WALES who was one OF the founders
OF the city's youngest financial in
stitution. Mr.. Wailes Is obliged to
leave Pendleton because of ILLNESS in
his family.
Mr.. WALES retirement from the To-
cal bank is voluntary and made with
great regret both to himself and mis-
associates. During his II months in
Pendleton he has seen the bank grow
from a thought to one of the states
most promising banks. He probably
will retire from the banking business
temporarily and leave, with Mrs
benefitting her health
Choice Follows Through Canvass:
When Mr.. WALES made his decision
TO dispose of his interests here, Mr..
Maloney and mis- board OF directors
began thorough canvass OF the state
TO find the most capable man avail
able 10 aueeeed hun, The nroposuon
was made to Mr. Bennett after con-
siderable correspondence had passed
and he accepted.
mir. Bennett is man of expert
ence in the banking business In Ore
gon and fortunate choice" MIR. Ma
loney said today "He started his ca
reer In this section OF the state and by
virtue OF his experience in eastern
and southern Oregon as well as in
Portland and now MS state superin-
tcndent OF banks, has exceptional
qualifications
Possessed of fine personality,
young and energetic, MIR. Bennett Will
be a valuable addition to tho commu-
nifty, Mr. Maloney said. He praised
his mixing qualities and his enthu-
siasm in his work.
Entered Banking in Heppncr.
Starting as bookkeeper for the
First National Bank Of Heppner under
George Conser, cashier on June 20
1908, Mr. Bennett has been connect
cd constantly with Oregon banking
for more than II years. He spent
four years with the Morrow county
institution, reslgnng June l. 1907, to
become paying and receiving teller OF
the Citizens National Bank of Baker.
lie resigned there in August 1908, TO
become bookkeeper for the First Ma
tional Bank OF Portland.
on October IL, 1909, Mr. Bennett
first Joined the state banking de-
partment as a deputy. This position
led to his first appointment as bank
examiner on May 20, 1911, which po-
sition he held until November /. 1913
He resigned TO become vice president
and director of the First State q Saw
ings Bank. of klamath Falls.
Family TO Reside Here.
Since February IL, 1918, Mr.. Ben
mott has been superintendent of banks
and would have had one more year to
serve after the end of this year. Prior
to taking the position he was cashier
OF the Citizens Bank of Portland for
two years.
Mr.. and Mrs. Bennett and small son
will come to Pendleton prior to the
Christmas season, he said in u letter
to Mr.. Maloney today They will take
up their residence here on January 1,
Speaking of Mir Benefits resigna-
ton Monday, members of the state
banking board said
'The resignation of Mr. Bennett as
superintendent of banks was entirely
voluntary on his part and came as
great surprise to the board. His SER
vices have been uniformly satsfac-
tory and it is with regret that we ac-
cept his resignation.
Mr.. Benefits successor has not YET
been named.