Little Falls herald. [volume] (Little Falls, Morrison County, Minn.) 1889-1950, 1921-12-02
TRUST C0MPANY'S
QUARTERS OPENED
AMERICAN SAVINGS h , TIHJST
COMPANY HAS FINE HOME
IN SECURITY BUILDING

Yesterday was the thirtieth anniver-
sary ct the organization Of the German
American National bank, now the
American National bank, and the event
was celebrated by the opening of the
new home Of the savings and trust de-
partment Of the affiliated organization,
the American Savings 4 Trust Com
pany. An invitation is extended to the
general public by the institution to
visit same.
The new quarters Of the savings and
trust company are located in the Sc
curity building, just west of the bank,
and are connected with the main lobby
of the bank. The work. of remodeling
started last July and has just been
latest, the low ledge type Of massive
Alabama white marble and imported
blue marble, with ornamental light
globes on either side of the desk open
ings. A large double vault has been
put in, one for the trust department s
business and one for the safe deposit
boxes, the patrons having direct access
to the latter from the lobby. West of
the main business room is the dircc-
tors room in front and private
consultation room in back, these two
rooms being divided by telescope
doors The room in the bank quarters,
formerly used Us the directors room
has been fitted up for a ladies' rest
room.
r. j. Kopacz had the general contract
for the remodcIing work. The furnl-
ture and fixtures, the vault fixtures,
and the marble fixtures were installed
by outside concerns.
The German American National
bank was organized Nov. IL, 1891
and opened for business Dec. l Of the
same year, with a capital of $5O,OOc
and surplus OF $4,000. The bank
was a successor to the private bank
owned by j. D. Maxwell, which was
the first financial institution in Little
Falls, The first stockholders were
Harold Thorson, James D. Anderson,
G. A. Weyerhaeuser, r. d. Musser, J.
". Berg. P. II. Gross, Fred Stangl, D..
Wetzcl All of these except Mr..
Stangl were on the first board of di-
rectors. A. G. Morrill, was also a mem
ber OF the first board. Harold Thorson
was the first president; Mr.. Weyer-
haeuser vice president; James D. An
lerson, cashier and S. A. Siverts, as
sistant cashier. When the first state
ment was called for Dec. 2, 1891, the
deposits were $4,000. Today they
total around q million dollars.
A security loan company and auxil-
iary was organized Feb. Is, 1905, with
paid up capital Of $4,000, to supply
funds and medium for placing farm
loans. on account Of the fact that
national banks were not permitted to
place farm loans at that time. The
capital of this branch kept increasing
until in 1921 it reached 100000
The American Savings & Trust Com
pany was organized January l, 1921,
for the purpose of handling the saw
ings and trust business and the bust
ness Of the old auxiliary was then
transferred to it, The trust company
now has paid up capital of 100000
and surplus of $4,000. It's officers
arc, j. W. Berg, president; G. Rosen-
meier, vice-president and trust off
Ger; John Wetzel, vice-president; E. J.
Richie, secretary and r. D. Musser,
treasurer. These officers and A. Simon
ct and G. A. Weyerhaeuser constitute
the board of directors.