Iron County news. [volume] (Hurley, Wis.) 1913-1950, 1925-11-28
Fortieth Anniversary OF
Iron Exchange Bank


cashier, held the position for nearly
thirty-three years, remaining almost
constantly at his post and giving his
undivided attention to his duties I'M
til illness compelled him to relinquiSh
them. In July, 1917, he gave up his
residence here and went to the home
of his brother, j. c. Reynolds, at
Lake Geneva. On April IS, 1918,
he passed away at the age of 81
years.
Following the death of Mr..
Reynolds, d. C. Owen. of Milwaukee,
at one time postmaster in that city,
became associated with those in
terested in the bank, took up his
residence here and was named
cashier, remaining in that capacity
until July, 1921, when illness forced
him to retire The present cashier,
+. S. Hagen, then took over the
reins. Mr.. Hagen had been with
the bank for many years as book
keeper and later as assistant cashier.
Prior to entering the employ of the
bank he was employed as cashier in
the local Chicago & Northwestern
freight depot He came to Hurley
from Eland Junction in 1907, having
been transferred from Eland
Junction to this city.
Another record for continuous
service with the bank was that of J.
c.. Reynolds, of Lake Geneva, who
acted as its president until Jan. /,
1919, when he retired and was sue
ceeded by the present president, +.
j. Earring, of Milwaukee, president
of the Central Coal company in that
city and interested in other industrial
activities in Milwaukee. Other of
ficers besides Mr. Earling and Mr.
Hagen. vice-president and cashier,
are Clarence H. Sealy, assistant
cashier, and Wayne V. Young,
assistant cashier. The directors
are E. j. Earling, L. E. Dick, super
intendent of the Montreal Mining
company, Charles Galdabini, former
pioneer Hurley merchant who is now
in Italy, f. S. Hagen, Clarence H.
Sealy, Attorney Marion F. Reid and
John G. Kyle. \
Building Remodeled.
Although the bank has been
located in the same building in which
it was started forty years ago, re-
modelling of the building about
year ago resulted in practically a
new ''home" for this oldest range
banking institution. Probably the
foremost of the improvements made
was the placing of new Bedford
stone front, giving the bank an out
ward appearance that is pleasing and
up-to-date. The interior was also
remodeled, new fixtures and equip
ment installed and terrazzo floor
laid. Walnut fixtures were installed
and arranged to provide the best
working conditions for the employees
and convenience for patrons. The
vault capacity was increased by in
stating another vault in addition to
the one used for the banks cash,
the new vault being given over to
the housing of safety deposit boxes.
The vaults are equipped with burglar
alarm systems and they are of a
steel construction designed to give
the best Of protection.
Sound Banking Institution
Ever since its founding the bank
has adhered to the principles of con-
sentative and sound banking, with
the result that it has continually
maintained the confidence of its
clients and has prospered with the
times. During the financial panic
of 1907, when cash was at a
premium and most banks were COM
PEELED to issue script, the Iron Ex-
change met every demand and
was among the few banks in the
country which did not find it nee
essary to resort to the artificial
paper in order to weather the crisis.
1t has enjoyed good patronage and
has earned good returns on the
capital invested, dividends being
paid the stockholders at regular
intervals.
The growth and prosperity of a
community is reflected in its banks,
and the fact that the Iron Exchange
has progressed is evidence that this
community has kept pace with the
institution which Friday celebrates
its fortieth anniversary.