Natrona County WY Archives History - Books .....Banks Of Natrona County 1923 ************************************************ Copyright. All rights reserved. http://www.usgwarchives.net/copyright.htm http://www.usgwarchives.net/wy/wyfiles.htm ************************************************ File contributed for use in USGenWeb Archives by: Joy Fisher sdgenweb@yahoo.com May 5, 2005, 6:50 pm Book Title: History Of Natrona County, Wyoming THE BANKS OF NATRONA COUNTY One of the best indications of a community's growth and prosperity is to be found in its banking institutions, and certainly the growth shown in the banks of Casper since the town was organized has been phenomenal. The steady increase in the volume of business transacted by the banks is but a reflection in the growth of all lines of business in Casper and vicinity, which few cities in the whole of the United States will duplicate. The Bank of Casper, with George Weber as cashier and proprietor, opened its doors for business in Casper in the fall of 1888. This was the first bank in Casper. January 1, 1889, it carried an advertisement to the effect that its paid-up capital stock was $5,000, with a surplus of $114.39. The financial statement published October 11, 1889, showed the resources consisted of loans and discounts, $3,916.82; overdrafts, $795.98; due from National banks, $1,498.25; checks, currency, gold, silver, legal tender, and other cash items, $2,592.87; real estate, furniture, and fixtures, $1,800. The liabilities were: Deposits, subject to check, $3,902.80; demand certificates of deposit, $600; time certificates, $4,073.02; capital and surplus, $4,252.30. In January, 1891, W. A. Denecke became cashier and the name was changed to W. A. Denecke & Company's Bank of Casper. On November 27, 1903, this bank failed. It was said that the cause of the failure was that the heaviest depositors drew out large amounts of money and the heaviest borrowers were unable to meet their notes which were due and owing the bank. S. W. Conwell was appointed receiver and it was announced that about $51,000 was on deposit and there was $4,000 cash on hand when the bank closed. Notes and securities outstanding were ample to pay the depositors in full as soon as the money depression was relieved and the outstanding indebtedness to the bank could be collected. In due time the depositors were paid in full. This was the first and only bank failure in Casper. The banking house of C. H. King & Company of Casper commenced business in the early summer of 1889, with Alex. J. Cunningham as cashier and C. H. King, president. This was the second bank for Casper. At the close of business on October 29, 1889, this bank in its financial statement showed it had resources at its command as follows: Loans and discounts, $861.24; overdrafts, $355.83; due from National banks, $3,966.93; furniture and fixtures, $545.79; expenses, $28.30; checks and other cash items, $151.75; legal tender, $1,450; nickels and cents, $631; specie, $25; total, $7,391.15. The liabilities were: Capital stock, $1,250, and undivided profits, $26.36; individual deposits, subject to check, $6,114.79. In 1894 the C. H. King & Company bank was merged into the Richards, Cunningham & Company bank. The Richards, Cunningham & Company bank was merged into the Casper National bank on July i, 1903, with a capital stock of $50,000. The officers were: A. J. Cunningham, president; J. DeForest Richards, vice president; E. P. Palmer, cashier; Maud Bohner, assistant cashier; and E. C. Harris, B. B. Brooks, Patrick Sullivan, P. C. Nicolaysen, A. J. Cunningham and J. DeForest Richards, directors. The statement to the comptroller of currency on September 9, 1903, showed: Loans and discounts, $249,205.27; National bank notes outstanding, $13,500; undivided deposits subject to check, $229,788.39; demand certificates of deposit, $1,140; time certificates of deposit, $60,141.82. The capital stock paid in was $50,000. There was no surplus but the undivided profits were $18^.46. This was the only bank doing business in Casper at that time. On December 29, 1922, there were: Loans and discounts, $1,753,561.08; overdrafts, $989.28; U. S. bonds and government securities, $61,543.46; other bonds and stocks, $74,327.24; banking house, furniture and fixtures, $141,355.89; cash due from other banks and bankers and U. S. treasurer, $819,353.58. Capital stock, $100,000; surplus, $100,000; undivided profits, $26,851.64; circulating notes outstanding, $50,000; demand deposits, time deposits, cashier's checks, certified checks and all other deposits and those due state and National banks, $2,574,278.89. Total, $2,851,130.53. The American Exchange bank was opened for business in Casper on March 2, 1891. This was Casper's third bank. The financial statement showed that the institution had real estate worth $1,500; furniture and fixtures, $1,000; cash on hand, $3,500; and other property owned by the firm, $15,000; making a total of $21,000. The liabilities were listed as naught. Alexander McKinney was president, Peter O'Malley, vice president, and J. E. Plummer, cashier. The American Exchange was very short lived, having been in existence just a year and a day, but its affairs were closed up in a business-like manner. On March 2, 1892, a notice was published in the local newspaper to the effect that the co- partnership between A. McKinney, Peter O'Malley, and J. E. Plummer, under the name of the American Exchange bank, was dissolved, and that all notes and bills of the co-partnership were payable to A. McKinney. There was then not enough business in the town for three banks and the law of the "survival of the fittest" prevailed. The Stockmen's National Bank of Casper was granted a charter in October, 1903, with C. H. Townsend, P. H. Shallenberger, Fred A. Gooding, Frank Wood, L. L. Gantz, C. K. Bucknum, and S. T. Mosser as stockholders. The capital stock was $50,000. The institution was opened for business in the Townsend building on the northwest corner of Center and Second streets on Monday, December 28, 1903, with C. H. Townsend, president; Percy H. Shallenberger, cashier; and Miss Lizzie McDonald, assistant cashier. This was the second bank in Casper at that time. The directors and officers on December 31, 1922, were: C. H. Townsend, president; Frank Wood, vice president; L. B. Townsend, cashier; V. W. Mokler, assistant cashier; L. L. Gantz, L. E. Townsend, C. L. Rhinemuth, directors. On December 29, 1922, the statement showed: Loans and discounts, $951,992.50; U. S. bonds, $146,000; overdrafts, $1,405.17; other bonds and securities, $155,911.50; furniture and fixtures, $2,500; cash on hand, due from banks and the U. S. treasurer, $275,568.83. Capital stock, $50,000; surplus, $125,000; undivided profits, $28,298.66; bills payable, $75,000; circulation, $48,500; deposits, $1,206,579.34. Total, $1,533,378. The First Trust and Savings Bank of Casper was organized January 19, 1915, and opened for business January 25, 1915. The following associates were elected to the first board of directors: Harold Banner, C. H. Townsend, Henry Bayer, John Daly, F. H. Sawyer, John T. Scott, William O. Wilson. The bank opened with a capital of $25,000. The first statement was made December 31, 1915, with figures as follows: Capital, $25,000; loans. $55,115; deposits, $40,972. The following associates were on January 1, 1923, serving as board of directors: C. H. Townsend, W. O. Wilson. W. O. Ratcliff, L. B. Townsend, C. L. Rhinemuth, A. J. Mokler, Sam Switzer. The financial condition on December 29, 1922, was: Real estate loans, $441,865.55; bonds, securities, etc., $1,086; cash and sight exchange, $72,795.48. The resources were: Capital stock, $25.000; surplus, $25,000; undivided profits, $17,869.71; savings accounts, $393,308.66; time certificates, $54,568.66. Total, $515,747.03. On January 11, 1913, Messrs. Thomas A. Cosgriff and George E. Abbott, together with Roy C. Wyland, organized a bank in Casper under the state banking laws, with the name of Cosgriff & Abbott, Bankers. The capital stock was $10,000. The bank was opened in a small room in the Iris theatre building. A later change of location placed them in the corner room known as the Grand Central hotel lobby, on the southwest corner of Center and Second streets. On May 2, 1914, the bank received its charter as The Wyoming National Bank of Casper. B. B. Brooks was then chosen as president, Thomas A. Cosgriff and G. E. Abbott as vice presidents, and Roy C. Wyland as cashier. Under the National laws the bank was organized on a basis of $50,000 as capital and $5,000 as surplus. Since that time the capital of the bank increased to $100,000 and $100,000 as earned placed to the surplus account of the bank. From a small capitalization and initial deposits on the first day of $4,000 the bank, on January 1, 1922, had increased to a capital of $100,000, a surplus of $100,000 with resources of $4,000,000. The bank is now located in the Midwest Refining company's building on the corner of Second and Wolcott streets. The officers and directorate of the bank have remained practically unchanged since ifs organization, Carl F. Shumaker, the present cashier, having succeeded Thomas A. CosgrifF, deceased, as a director, Mr. Wyland being made vice president. The officers and directors at present are: B. B. Brooks, president; G. E. Abbott, vice president; Roy C. Wyland, vice president; Carl F. Shumaker, cashier; P. J. O'Connor, director. At the close of business December 29, 1922, this bank had loans and discounts amounting to $3,002,439.53; overdrafts, $1,729.19; U. S. bonds and revenue stamps, $119,122.69; other bonds and warrants, $2,456.30; stock in federal reserve bank, $7,500; furniture and fixtures, $85,697.90; real estate, $9,813.50; cash on hand, due from banks and U. S. treasurer, $843,578.29. Capital stock, $100,000; surplus, $150,000; undivided profits, $61,264.10; circulation, $100,000; deposits, $3,661,073.20. Total $4,072,337.40. The National Bank of Commerce was organized October 10, 1919, and opened for business November 24, 1919. The bank was organized by Arthur K. Lee, with the following associates, who were elected the first board of directors: John McFayden, Ira G. Wetherill, Joe E. Denham, H. L. Patton, Arthur K. Lee, L. A. Reed, Earl C. Boyle, Thomas Kenney, T. F. Algeo, George B. Nelson, L. G. Murphy. The bank opened with a capital of $125,000 and with $12,500 paid up surplus. The first statement to the comptroller of currency was made December 31, 1921, with figures as follows: Capital, $125,000; surplus, $12,500; loans, $280,000; deposits, $455,000. At the close of business December 29, 1922, this bank had loans and discounts amounting to $1,151,327.82; overdrafts, $705.11; U. S. bonds to secure circulation, $125,000; stock in federal reserve bank and other securities,$6,650; furniture and fixtures,$17,500; five per cent redemption fund with the U. S. treasury, $6,250; cash in vault and due from banks, $457,449.35. The capital stock was $125,000; surplus and undivided profits, $30,950.30; circulation, $125,000; deposits, $1,483,930.98, with a total of $1,764,880.28. The Citizens National bank of Casper was chartered as a state bank and opened for business May 1, 1917, with a capitalization of $50,000. Dr. John F. Leeper was elected president and had associated with him as directors John Beaton, .M. J. Burke, C. M. Elgin, T. A. Dean, C. H. Horstman, and T. A. Hall. W. J. Bailey was elected as cashier. This bank was first located in one corner of the Chamberlin Furniture company's store room which was then doing business in what is now the Golden Rule store building, on the south side of Second street, between Center and Wolcott, but when the Oil Exchange building, now known as the Consolidated Royalty building, was erected a modern banking room was fitted up for this bank where it has since been located. The vacancy caused by the death of Dr. Leeper in December, 1920, was filled by the election of M. J. Burke to the presidency. The capital stock was increased to $100,000 with a surplus of $25,000 at the time of the conversion from a state to a National bank. On December 29, 1922: Loans and discounts, $619,169.92; overdrafts, $2,993.72; U. S. bonds and other stocks and bonds, $229,427.37; furniture and fixtures and real estate owned, $21,724.02; cash on hand, due from U. S. treasury, and from other banks and bankers, $332,130.04. Capital stock, $100,000; surplus, $25,000; undivided profits, $17,501.06; circulating notes outstanding, $100,000; demand and time deposits, cashier's checks, certified checks and all other deposits and those due state and National banks, $962,944.01; with a total of $1,205,445.07. The Wyoming Trust Company bank was organized and opened for business July i, 1921. The board of directors at the time of the bank's organization were: P. J. O'Connor, president; R. C. Gather, vice president, N. S. Wilson, vice president; Leo A. Dunn, cashier; B. B. Brooks, Roy C. Wyland, Carl F. Shumaker and R. H. Nichols, directors. The bank opened with a capital of $100,000 and $10,000 paid up surplus. The first statement to the comptroller of currency was made on September 6, 1921, with figures as follows: Capital, $100,000; surplus, $10,000; loans, $204,000; deposits, $176,000. December 29, 1922, there were loans and discounts, $347,831.45; overdrafts, $208.38; stocks and bonds, $16,037.50; banking house and fixtures, $14,597.30; cash on hand and due from other banks $121,801.36. Capital stock, $100,000; surplus, $10,000; undivided profits, $1,132.28; demand deposits, time deposits, cashier's checks, certified checks and all other deposits and those due state and National banks, $389,343.71; with a total of $500,475.99. The Casper Clearing House association, whose membership consists of all the banks of Casper, was organized February 7, 1921, with A. J. Cunningham, president; Roy C. Wyland, vice president; J. R. Schlueter, secretary, and W. J. Bailey, treasurer. The association clears all bank debits of the town each day, and all the banks of the city work in harmony. Since its existence the Clearing House association has solved many perplexing problems which has resulted beneficially to all concerned. The clearings of the banks by the month since the association was organized up to the first of January, 1922, was as follows: February $ 2,917,506.18 March 4,209,967.47 April 4,646,571.60 May 4,924,915.52 June 5,434,846.09 July 5,030,959.69 August 4,034,593.70 September 4,114,817.47 October 4,714,725.10 November 4,469,457.00 December 4,885,696.47 Total $49,384,056.31 The Bank of Salt Creek, with a capital of $25,000, was opened at Lavoye, or the Mosher camp, in the Salt Creek oil field, October 21, 1922. The stockholders and directors were J. H. Montgomery, president; A. C. Andrews, vice president; E. W. Downing, cashier; H. S. Durrie, assistant cashier; Barton A. Myers and George A. Gatewood, directors. The Salt Creek State bank was established and opened for business on October 21, 1922, located at Lavoye, which is commonly known as the Mosher camp, in the Salt Creek oil field. Its capital stock was $25,000 and the incorporators and directors of the institution were: Roy C. Wyland, president; B. B. Brooks, vice president; Carl F. Shumaker, P. J. O'Connor and G. E. Abbott, directors, and Thomas Keith, cashier. File at: http://files.usgwarchives.net/wy/natrona/history/1923/historyo/banksofn3gms.txt This file has been created by a form at http://www.genrecords.org/wyfiles/ File size: 15.9 Kb