BANKS AND BANKING
SOMETHING OF ATLANTIC'S FINANCIAL CONCERNS.
With five well conducted banks, Atlantic as a financial center, occupies a position of importance in this section. The banks of this city are all on a sound basis and the last failure was so long ago that its effects have long since ceased to be felt. The local banks have deposits of upwards of two million dollars and enjoy the confidence of the people to a high degree. The men in charge of them are all good business men, capable as financiers and known as boosters for the best interests of the town and her people.
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The Atlantic National Bank.
This is the oldest bank in the county and has developed as the county has developed, holding through all the years the confidence and esteem of the people with whom it has dealt. The bank is now housed in its magnificent new building, built at a cost of $25,000, at Fourth and Chestnut streets, and its business is on the increase as the days go by. Of this institution J. A. McWaid is the president; C. R. Hunt, the vice-president; L. W. Niles, cashier; and T. P. Breheny, assistant cashier. The capital and surplus total $150,000. The bank has a modern fire and burglar-proof vault with a system of safety-deposit boxes.
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The Whitney Bank and Whitney
Loan and Trust Company.
These institutions, towers of strength in financial circles are the lineal descendants of the Bank of Atlantic, conducted in this city for years by the late Franklin H. Whitney, the founder of Atlantic, and father of J. G. and Thos. H. Whitney. The name Whitney has always inspired confidence in the community and the increasing business of these two concerns, which are now housed in their handsome new home at Third and Chestnut streets, is the best evidence that that confidence continues as the years go by. A modern fire and burglar-proof vault and safety deposit boxes were part of the new equipment. The officers of the Whitney Loan and Trust Company are J. G. Whitney, president; Thos. H. Whitney, vice-president, and Harry Cavenaugh, cashier. The company's last statement of resources showed it lacking less than a hundred thousand dollars from being in the million dollar class. The insurance end of the business, which is of large proportions, is not the least important and in this department the increase in business is marked.
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The Iowa Trust and Savings Bank.
This splendidly managed financial institution is recognized as one of the leading banks of this part of the state. Its banking room in the Gillespie building at Fifth and Chestnut streets is splendidly appointed for banking purposes, and its business is on the increase every day. Its officers and directors are men of financial ability and responsibility and the bank enjoys the confidence of the public in a marked degree. J. S. Harlan, long known as an able financier, is president of the banik; E. S. Harlan, W. L. Overman and J. W. Cuykendall are vice-presidents; H. W. Fulton, cashier, and Fred Wissler, assistant cashier. The bank has a capital of $100,000.
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The Farmers Savings Bank.
This splendid financial concern occupies the handsome new building erected for it by the Rhody Bros. at Third and Chestnut streets, and although but about two months old, has shown a remarkable growth since it was launched. The first statement of condition, made some little time ago, showed deposits of over $30,000 after about five weeks existence. The president of the bank is the very genial Nels P. Hoegh of Audubon county. L. R. Nelson is the vice-president, and the genial Mark P. Nelson is the cashier. Wm. Hoegh is the assistant cashier. The bank also controls the insurance business of Plotts and Nelson and of this end of the business B. R. Plotts is the very obliging and hustling manager. The insurance agency has an array of splendid companies, and their record of prompt retirements is one to be proud of. The Farmers Savings is one of the going concerns of this fair city. The men who make up its officiary and directorate are all good boosters for the city where they have cast their lot and invested their money.
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The Nichols Bank.
The Nichols bank enjoys the confidence of the public because the people have grown to know the men in charge of its affairs as safe men to deal with and because its business policies are such as to attract the man who is seeking a place to do his banking. The bank is a private corporation and has been run under its present name for many years, its growth and progress being co-incident with the growth of the city. A new modern vault with a thoroughly up-to-date system of safety deposit boxes has recently been added and puts the bank in a better position than ever to handle its business well. Wm. Nichols is the president of the bank; F. M. Nichols is cashier, and F. J. Nichols, assistant cashier. The bank officers have contributed to the up-building of the city. The splendid new Atlantic Green Houses, which they erected last year at an expense of several thousand dollars, and which are the largest and best in this part of the state, represent one of their contributions to the booster spirit and their recent improvement of a number of store buildings owned by them attest their desire to lend their aid in placing Atlantic in the van of the progressive procession.
Short sketches of the men who "make the wheels go round" in the banking business of the city can be found farther on in this edition.
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From: Industrial Edition, published by Atlantic News Telegraph, Atlantic, Iowa, 1913, pg. 21.
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