1921 Duluth & St Louis County MN, Van Brunt.pdf - Garon.us

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DULUTH AND ST. LOUIS COUNTY 597 Banking History.—The First National Bank of Virginia was originally organized as the Bank of Virginia, in 1892, by O. D. Kinney and E. Z. Griggs. The pioneer bank was a private banking house, and was comparatively strong when, in June, 1893, its building was destroyed with the other buildings of the village. Again, in 1900, the bank property was destroyed by fire, but these losses did not ma- terially affect the stability of the corporation. In 1903, however, it was decided to place the banking business under national banking laws, and with that object the First National Bank of Virginia was chartered, the original capital being $25,000. On July 25, 1905, this was increased to -$50,000, its present capital. The first officers were O. D. Kinney, president; E. Z. Griggs, vice-president; B. F. Britts, cashier; W. H. Cole, R. R. Bailey, E. B. Hawkins, and J. R. James, CHESTNUT STREET, VIRGINIA, 1909. (TELEPHONE POLES HAVE SINCE BEEN REMOVED TO ALLEY) directors. Eventually Pentecost Mitchell became president, and was still president in 1920, when the other officers were : S. R. Kirby, Dr. C. B. Lenont and B. F. Britts, vice-presidents, and A. E. Shipley, cashier. In 1913, the present conspicuous bank and office building was erected. It is a five-story concrete and steel fireproof building. The ground floor is devoted to banking purposes, and the upper floors rented for offices. The fine building cOst about $125,000 to erect. The State Bank of Virginia was organized in 1911, the capital being $50,000. First directors were : Douglas Greeley. F. H. Wellcome, C. H. Rogers, C. E. liendrick, J. E. ITanson. IT. O. Johnson and C. E. Moore. There has been no change in this directorate. The first officers were: Douglas Greeley, president; C. E. liendrick, vice; Peter Western, cashier. Succession of cashiers is as follows: H. V. Peterson, J. I. Frasa and H, W, Pribrow, present cashier. The capital is still the same, but the surplus is $10,000. with $4,515 undivided profits. -^
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NYPL RESEARCH LIBRARIES 3 3433 0819
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