Morgan County Democrat. (McConnelsville, Ohio) 1886-1943, 1940-05-02
MALTA SAVINGS & LOAN COM.
PANY CONFLICTS so YEARS
OF FINE SERVICE

Just SO years ago this week--on
May /, 1890. in the store of the late
r, & s. A. Luton, a little group or
Malta citizens gathered to take steps
to incorporate the Malta Savings &
Loan company. They were Robert
Luton, Andrew He'll, VIM. A. Rusk,
j. M. Rogers, e. G. D. Wade, j. b.
Humphrey and A. w. Walker. The
purpose of this company as set
forth in the articles of incorpora-
ton, was to raise money to be loan
ed among it's members and deposit
ors for use in buying lots, building
homes and for other purposes. After
the charter was received from the
secretary of state on May 14th, a
meeting of the stockholders to
elect officers and directors was call
ed to meet at the mayors office in
Malta, for May goth. At this meet
ing Andrew He'll was made chair
man and A. B. Cope was secretary.
Constitution and bylaws were
adopted and seven directors were
elected as follows: J. M. Rogers, j..
B. Humphrey, Andrew He'll, w. A..
Rusk, A. A. Coulson, E. G. d. Wade
and Robert Luton. The directors
then elected Andrew He'll as presi-
dent and J. B. Humphrey as vice
president. r.. Luton was secretary
pro TEN, and then elected for the
balance of the year and continued
as secretary until his death Sept.
10, 1896. Miss S. A. Luton was
appointed secretary to fill this va
cancy and continued to serve as Sec
retary until 1881, when ill health
caused her retirement.
Andrew He'll served as president
and director from the beginning of
the company until his death in 1914.
His son, F. A. He'll, was appointed
in his place as director, and still Is
one A. A. CoulsOn was elected
president to succeed Mr.. He'll, and
served as such until short time
before his death, since which time
c. B. Smith has occupied that posi-
ton. From a small beginning this
institution has grown in favor and
the confidence of the people of the
county and today has the largest as
sets in it's history. 1t has been the
means by which large numbers of
our citizens both in town and coun-
try have been enabled to secure
homes or make the ones they owned
better. 1t is cooperative in spirit,
and while it has used its depOS1tOrS
money for the above purposes, 1t
has never failed to return good div
idends to them.
Through these SO years the coun-
try has been through its greatest
imitation periods and also it's great
est depressions To ride the finan-
cial seas through it all and now be
at its best is evidence of the con-
servative and constructive judgment
of it's directors, who from it's begin
ming have been men high in the es-
TEEN of the community. Today the
men who are directing it's efforts are
Fred D. Coulson, Howard l.. Cowan,
Frank A. He'll, B. S. Harris, 5. b.
Sheridan, C. B. Smith and S. A.
Torbert, group of substantial cit
liens. It's officers are c.. B. Smith,
president; F. A. He'll, vice presi-
dent; Chas. A. Gaylord, secretary
treasurer; Emmett Abel, attorney,
and Mrs. Marian McLane, clerk.
With these so years of achievement
completed, this company should be
even better prepared to serve It's
patrons both depositors and borrow
erS.
Birthday Party
Last evening golden birthday
party was held at the Malta hotel,
with all the officers, and directors
present excepting F. A. He'll. Gov
ers were laid for 10, and an elegant
three course chicken dinner was
served. A birthday cake furnished
by the hotel management centered
the table. c. B. Smith and G. A.
Gaylord presented many interesting
facts concerning the institution,
which began it's existence May /,
1890. C. B. Smith is the Oldest dl-
rector in the point of service, hay
ing served since Oct. 6, 1908. +.
A. He'll became a director in 1913.
A letter was read from Don l.. Tob-
in, executive secretary OF the ONO
Savings & Loan company, in which
he congratulated the bank on it's
golden jubilee and for the fine SER
vice it has rendered this commun-
ity.