USA > California > Los Angeles County > History of Los Angeles county, Volume I > Part 10
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Marine Commercial and Savings Bank of Long Beach was established in May, 1914, with a capital of $125,000 which has been increased to $375,000, with its surplus. Its recent deposits were $2,850,000. Its home is a fine five-story brick-steel structure erected in 1914-15. The bank's officers are E. J. Wightman, president; Irving H. Hellman and Julius Blum, vice presidents ; Max R. Wallace, cashier ; Louis Murdock and A. O. Sperry, assistant cashiers. Liabilities and resources are $3,287,366.35.
Western Savings Bank, Long Beach, was established, February 24, 1920, by the present officers : J. W. Tucker, president, C. A. Wiley and George L. Craig, vice presidents ; A. L. Parmley, cashier ; G. M. Foote, Charles C. Auge and W. F. Herman assistant cashiers ; Ralph H. Clock, counsel. The banking house occupied by the institution is located at 125 East First Street-the new building will be occupied July 15th this year. The lot on which it was built cost $60,000 and the structure and fixtures $50,000 more. The first capital stock was $100,000, but it has been in- creased to $150,000, with a surplus of $75,000. The amount in recent deposits is $1,650,000. The May 5, 1922, statement shows liabilities and resources of $1,855,099.91.
Long Beach National Bank (formerly the Exchange National Bank) was organized in December, 1906, opened July, 1907, and was founded by William H. Wallace. The first officers were A. J. Wallace, president ; M. V. McQuigg, vice president; W. F. Wallace, cashier, and F. R. McQuigg, assistant cashier. The original capital was $100,000 but today the bank has a capital of $200,000, with a surplus of $100,000. The recent statements give its deposits as $4,118,000. On May 5, 1922, its resources and liabilities were $4,642,938.95. The gain in deposits during the last year was $588,- 197.18. When a bank has resources of over $4,000,000 it means that bank- ing genius is behind its operations. The present board of directors of this large, well managed concern are as follows: Charles Wiley, chairman of the
y
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HISTORY OF LOS ANGELES COUNTY
board; Leo M. Meeker, president; L. A. Davis, vice president; Julian R. Davis, cashier ; John F. Craig, shipbuilder, George L. Craig, capitalist, Ralph H. Clock, attorney-at-law, B. H. Paul, real estate, J. W. Tucker, banker, W. J. Gardiner, capitalist, directors. As noted, this bank was organized as the Exchange National Bank and purchased the State Bank of Long Beach in 1911. The name was changed to Long Beach National Bank in Decem- ber, 1921.
The latest reports on banking in Long Beach, that made in June, 1922, gives these figures: Total in deposits in the nine banking institutions $33,632,065.73. Amount represented in total resources of all banks of the city, $27,626,718.88. The bank clearings in Long Beach in 1921 reached $181,746,171.13.
WHITTIER BANKS
First National Bank, Whittier, was organized in 1900, succeeding the old Bank of Whittier, formed in 1894 by John M. Marble, W. J. Hole, T. E. Newlin, Washington Hadley and George E. Little. The original officers were: John M. Marble, president ; W. J. Hole, vice president ; Washington Hadley, cashier. The officers today are: F. W. Hadley, president ; John Crook, vice president; H. L. Perry, cashier; S. C. Wicker and W. W. Davidson, assistant cashiers. Its first capital was $25,000, but at present it has $150,000, with undivided profits of $99,898 and deposits of $1,500,000. The bank building now occupied was erected in 1908, at a cost of $22,000. Plans are now maturing for the building of a $150,000 structure.
Whittier National Bank, was organized as a National Bank in 1905, succeeding the "Whittier Bank" that had been in operation about five years. Its original capital was $25,000. Its present capital is $100,000, with a surplus of $75,000. Its recent deposits amounted to $1,000,000. The bank is housed in a good brick building. In the same building is also con- ducted an affiliated Savings Bank, known as the Home Bank of Whittier. The last statement of the National Bank department shows resources and liabilities amounting to $1,291,050.18; that of the Home Savings depart- ment indicates resources and liabilities amounting to $1,474,903.07.
The National Bank officers are: A. C. Johnson, president ; C. B. John- son, vice president and cashier ; H. Demarest and E. A. Albright, assistant cashiers. The officers for the Home Savings department are: George L. Hazzard, president ; A. C. Johnson, vice president; W. E. Butler, cashier.
The Community Bank of Whittier was organized December 3, 1919, by C. C. Barr, O. H. Barr, Fred Pease, Fred Robbins, Azariel Smith, G. E. Wanberg, D. H. White, D. E. Knight, W. D. Cooper and A. T. Emory. The officers at first were C. C. Barr, president; O. H. Barr, vice president ; Fred Pease, cashier. Today the officers are: Fred Pease, president ; C. C. Barr, vice president ; B. G. Martin, cashier ; D. P. Mitchell and R. A. Bauder, assistant cashiers. Amount of first and present capital stock, $125,000; present surplus, $13,500; present amount in deposits, $649,- 386.55. In 1920 a fine bank building was constructed of brick and terra cotta material, costing $50,000. The street number of this institution is 117 North Greenleaf Avenue.
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HISTORY OF LOS ANGELES COUNTY
Whittier Savings Bank was organized at Whittier by Washington Hadley on a $25,000 capital, which has grown to be $150,000, with a surplus of $50,000. Its last report shows deposits amounting to $1,250,000. In 1912 a glazed brick bank building was completed at a cost of $48,000. The present officers are : A. C. Maple, president ; W. H. Crook, vice president ; C. A. Carden, cashier, and W. E. Frantz, assistant cashier. The last statement issued shows resources and liabilities to the amount of $3,216,- 891.67. This institution is connected with the First National Bank of Whittier.
The Home Savings Bank of Whittier was established October 31, 1903, by Messrs. A. C. Johnson, D. E. Gooch, C. E. Cook, J. C. Hiatt, W. M. Hiatt, A. L. Reed, P. T. Swain, E. R. Guirado, E. R. King, Annie P. Bailey, Cyrus Trueblood, J. Allen Osmun and O. M. Souder, all original stockholders. The first officers were: O. M. Souder, president; A. H. Dunlap, vice president; A. C. Johnson, treasurer, secretary and cashier. The present officers in charge are: George L. Hazzard, president; A. C. Johnson, vice president; Walter E. Butler, secretary and cashier. The original capital was $12,500, but today has $90,000, with a surplus of $84,661.80. The recent deposits amount to $1,300,241.27. In 1907 a two story glazed brick bank building was provided, and jointly occupied by the Whittier National Bank and the Home Savings Bank of Whittier, owned by the two concerns. The structure stands on the corner of Philadelphia and Greenleaf streets. On May 5, 1922, the statement issued by the bank shows resources and liabilities amounting to $1,474,903.07.
REDONDO BANKING INTERESTS
Farmers and Merchants National Bank of Redondo Beach was organ- ized in October, 1902, by Messrs. J. A. Graves and associates of Los Angeles, with the assistance of the following local capitalists: J. H. Cav- anah, P. S. Venable, Colonel F. H. Seymour and W. J. Cleghorn. The original capital was $32,000. The first officers were: Herman W. Hell- man, president; Colonel F. H. Seymour, vice president; S. M. Webster, cashier. The bank now has a capital of $50,000, with a surplus of $50,000 including profits; recent amount in deposits, $700,000. The bank com- menced as a State institution, but when it raised its capital it became a National Bank (August, 1905). The bank building was constructed in 1914 of reinforced concrete; is strictly fire proof and in all ways modern. Exclusive of the cost of the site, the property and its equipment are valued at about $40,000. The 1922 officers are : E. E. Webster, president ; J. A. Cavanah and P. S. Venable, vice presidents ; E. C. Heath, cashier ; A. E. Cameron and Gertrude C. Phillips, assistant cashiers.
First National Bank of Redondo Beach was founded February 15, 1906, by Herman W. Hellman, and had for its first set of officers Herman W. Hellman, president; H. B. Rollins, vice president; S. M. Webster, cashier. Its present capital is $50,000, double what it was at first. In a recent statement the amount of deposits is given as $682,598. The present bank building was completed in 1920. It is a brick-terra cotta structure and cost $65,000. The present officers are : J. E. Walker, president; A. T. Hembre and R. E. Matterson, vice presidents, and C. E. Parkins, cashier.
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HISTORY OF LOS ANGELES COUNTY
Redondo Savings Bank at Redondo Beach, was established February 15, 1906, with first officers as follows : H. B. Rollins, president ; Marco H. Hellman, vice president ; S. M. Webster, secretary and cashier. Beginning with a capital of $25,000 it now operates under a $50,000 capital (author- ized to be increased to $125,000). The present surplus is $13,250 and recent deposits amount to $400,000. A pressed brick and terra cotta bank building to cost $100,000 is now under course of construction. The pres- ent officers are well known in the community and need no introduction in a work of this character. Suffice to say all are highly competent and trust- worthy to discharge each and every duty imposed upon them.
BURBANK BANKS
The First National Bank of Burbank was established November 8, 1911, by H. A. Church, with the support of its present stockholders. Mr. Church is still president of the institution he founded; A. O. Kendall was vice president; R. O. Church, cashier and treasurer; A. E. Dufur, assistant cashier and secretary. At first the capital was $25,000, but now it is twice that amount, with a surplus of $9,000. Its recent deposits were $630,000. The First National succeeded the Burbank State Bank, which was formed in the month of April, 1908. In 1909 two burglars got into the vault and after placing three charges against the safe, gave it up as a bad job and took the loose silver in the vault amounting to $82.00. The present bank building was erected in 1911, at a cost of $20,000. It was constructed of brick and then handsomely plastered outside. The present (1922) officers are: H. A. Church, president ; A. O. Kendall and Orville Myers, vice presidents ; R. O. Church, cashier and treasurer ; A. E. Dufur, assistant cashier and secretary ; D. S. Preston and G. H. Green, assistant cashiers.
Burbank Savings Bank was founded in 1911 by H. A. Church, presi- dent; Martin Pupka, vice president; R. O. Church and A. E. Dufur, cashiers. It was first established as Burbank Citizens Bank. Its capital has always been $25,000. Its present surplus is $11,500 ; present deposits, $317,163.81. The First National Bank, with which it is affiliated, owns the building in which the Burbank Savings transacts its business. The 1922 officers are: H. A. Church, president; R. O. Church, cashier ; Martin Pupka, vice president; A. E. Dufur and Elsie M. Wickersham, assistant cashiers. The May statement of this bank shows resources and liabilities amounting to $394,713.64.
CULVER CITY BANKING
Culver City Commercial & Savings Bank was established in December, 1914, by local residents. The first and present capital is $25,000. It now has deposits amounting to $250,000. Since its organization the bank has been "held up" on two separate occasions. The writer is not in possession of the facts concerning these burglaries. The present bank building, costing $15,000, is of brick. The management comprises : Eugene Webb, Jr., C. E. Adams, Jr., H. E. Edington, Fred M. Wilcox and D. H. Schwertzen. This bank is capable of taking care of the banking
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HISTORY OF LOS ANGELES COUNTY
interests of the locality in a satisfactory manner, each and every one of the men in charge being capable and honorable in all their dealings.
SAN PEDRO BANKS
The Bank of San Pedro was established on April 16, 1888, by George H. Peck, William G. Kerckhoff and James Cuzner. Its original capital was only $25,000, but today it is $50,000, while its surplus is $63,000. Recent deposits amount to $2,313,453.63. It will be observed that this is the oldest and largest banking house in San Pedro. Its May, 1922, statement shows resources and liabilities amounting to $2,658,247.75. Its original officers were William K. Kerckhoff, president; James Cuzner, secretary ; George H. Peck, cashier. Its present officers are as follows : Henry E. Sherer, president ; George P. Adams, vice president; Robert C. Baly, vice president and cashier; Gladys E. Lever, M. L. Mayer, D. Maclean and R. L. Morter, assistant cashiers ; S. Rocco, auditor. This bank allows its depositors four and one-half per cent interest on term deposits. In 1902 its present bank building was erected of brick at a cost of $10,000. It is situated on the northwest corner of Sixth and Beacon streets.
Hellman Commercial Trust & Savings Bank of Los Angeles succeeded the old State Bank of San 'Pedro, established January 1, 1901. Its first officers were: L. W. Blinn, president; Frank Burns, cashier of the State Bank of San Pedro. The present officers are: F. L. Thomas, manager ; L. T. Thomas, assistant manager. In 1913 a handsome bank building was constructed of pressed brick at a cost of $75,000. It stands at 135 West Sixth Street. The parent bank at Los Angeles has resources amounting to $42,713,802.24.
The First National Bank of San Pedro was established on April 29, 1913, its founder being A. P. Cully of Los Angeles. At first its capital was only $25,000, but today it has reached $300,000, with a surplus of $77,331.34. Its recent statement shows deposits amounting to $1,322,186. Its present resources and liabilities amount to $1,672,910.60. Its first officers were: A. P. Cully, president; Charles Nicolan, cashier; A. G. Sepulveda, assistant cashier. The present officers are: Edward Mahar, president; G. C. Bell and Philip M. Gaffey, vice presidents, and L. S. Anderson, cashier. This is the only National Bank in San Pedro, the Port of'Los Angeles.
BANKING IN ALHAMBRA
The First National Bank of Alhambra was established in 1907, by the conversion of "Alhambra Bank" into a national bank, by R. J. Waters, president ; H. D. McDonald and N. W. Thompson, vice presidents ; Charles Lawson, cashier and James MacLaren, assistant cashier. At first the capital was $25,000, but today it is $50,000, with a surplus of $30,000. It recently carried deposits amounting to $1,600,000. The present officers are as follows: L. D. Bedford, president; C. E. Strifler, vice president; W. H. Bedford, cashier. The bank building now used was erected in 1913; is two stories high, by sixty feet in width. It may
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HISTORY OF LOS ANGELES COUNTY
be added that the First National Bank took over the business of the old Alhambra Bank; the Alhambra National Bank absorbed the business of the Bank of Dolgeville, after changing the name to Bank of Alhambra. This and the First National were consolidated under the name of the First National. At this date (1922) the bank building is being remodeled and enlarged materially, and a part of the space belonging to the building has been rented to the San Gabriel Water Company. When completed the bank will have a central corridor of twenty-one feet in width and accom- modations for officers on each side. There are to be eight cages, each to have two windows. The fixtures are bronze and pure marble. It is to be one of the county's handsomest and best planned banks.
Alhambra Savings and Commercial Bank commenced on a $25,000 capital, but today has use for its $125,000 capital. It has a surplus of $35,000, and deposits at a recent date amounted to $1,600,000. The bank building was erected in 1913 and enlarged in 1922. Its cost was $50,000. It is built of brick. The May 5, 1922, statement gives the resources and liabilities as $1,787,034.18. The officers of this enterprising institution are as follows: G. C. Marshall, president ; E. E. Bailey, R. F. Bishop and William M. Orr, vice presidents; E. G. Hartsig, cashier ; V. H. Tucker and W. H. Murphy, assistant cashiers. The banking house is situated on the southeast corner of First and Main streets.
POMONA BANKING
The Savings Bank of Pomona was established in 1904, by L. T. Gillette and Frank C. Eells, the former being president and the latter cashier. At the beginning the capital was $25,000, but today it is $70,000, with a surplus of $35,000. Recent statements show its deposits amounted to $850,000. Their May 5, 1922, report shows loans, bonds, furniture and cash due from other banks amounting to $968,707.78, with an equal sum in its capital, surplus, profits (undivided) and its deposits. The 1922 officers are: W. L. Wright, president; W. M. Lattin, vice president ; L. L. Wright, secretary, with additional directors as follows: F. P. Firey, W. S. Hufford, Charles M. Stone, William Benesh, George S. Phillips and C. P. Curran. .
State Bank of Pomona was established by E. R. Yundt, in 1906, with first officers as follows: P. R. Ruth, president; A. C. Abbott, vice presi- dent, and E. R. Yundt, cashier. Its first capital was $25,000, which has been increased until it now has $125,000, with a surplus of $40,000. In May, 1922, its deposits amounted to $1,100,000. In 1910, at an approxi- mate cost of $50,000, a brick banking house was completed. It will be remembered that this concern was the pioneer in branch banking in this community, and the first Departmental Bank in Pomona Valley. In its last statement were these figures : Resources, $1,337,108.06, with liabilities to correspond in amount. The present officers are: A. C. Abbott, presi- dent; J. A. Gallup, vice president; E. R. Yundt, cashier ; H. W. Stiles, E. H. Boly and L. S. Birdsall, assistant cashiers.
The First National Bank of Pomona was established in the late '80s on a capital of $50,000 ; today it has $300,000, with an additional surplus of $200,000. Its recent reports show deposits amounting to $2,165,000. The
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HISTORY OF LOS ANGELES COUNTY
bank succeeded the old Pomona Valley Bank. Its building was erected in 1889 of brick material. On May 5, 1922, it issued a sworn statement which shows that upon that date it had resources and liabilities to the amount of $2,928,363.96; lawful reserve with Federal banks, $148,842. Its banking house and fixtures are valued at $33,400. The bank's first officers were: C. Seaver, president; Thomas Coates, vice president ; Stoddard Jess, cashier. The 1922 officials are: Charles M. Stone, presi- dent; W. L. Wright, vice president; W. A. Kennedy, cashier; C. A. Steadman and A. H. Lawrence, assistant cashiers. The bank mentioned as having been built in 1889 is soon to be torn down and a modern structure erected in its place.
GLENDALE BANKING
The First National Bank of Glendale was established 1905, by L. C. Brand and others. The first officers were: L. C. Brand, presi- dent, Dan Campbell, vice president, and E. V. Williams, cashier. The officers in charge at the present date (June, 1922) are: \V. W. Lee, president; M. P. Harrison and Edward M. Lee, vice presidents ; R. F. Kitterman, cashier, E. E. Osgood, William A. Goss and E. L. Osborn, Jr., assistant cashiers. The bank was established with a capital of $25,000, and now has $50,000, with a surplus of $50,000 addi- tional. The deposits now amount to $1,376,456. This institution is well housed within its three story white enamel brick structure, erected in 1913. The late statement shows resources and liabilities amounting to $1,984,154.70.
The Glendale Savings Bank, affiliated with the last named National bank at Glendale, was established with a $50,000 capital which has been increased to $60,000, including its surplus. Recent statements show the deposits to be $600,000. The date of organization of this institution was June, 1913. The Glendale Savings uses the same bank building as is occupied by the First National. The present officers are: W. S. Perren, president; C. E. Wetmore, F. L. Thompson, vice presidents ; H. E. Francy, cashier and secretary, and A. G. Cornwell, assistant secretary.
OCEAN PARK BANKING
The First National Bank of Ocean Park was founded April 5, 1905, by Messrs. E. J. Vawter, Sr., E. J. Vawter, Jr., J. M. Elliott, W. D. Longyear, John W. Lincoln, A. R. Fraser, F. M. Leavitt, and C. H. Mellen. The original officers were : E. J. Vawter, Sr., president ; J. M. Elliott, vice president; Thomas M. Meldrum, cashier. The present set of officers are: E. J. Vawter, Sr., president; H. R. Gage, vice president; R. B. Harris, vice president and cashier ; Lewis Cox, assistant cashier. The first capital of this bank was $25,000, and the present, $50,000; present surplus $10,000; undivided profits, $14,500. The present amount in deposits is $769,210. The May, 1922, statement of this concern gives the resources and liabilities at $909,294.05. The bank building was completed in January, 1912, at a cost of $50,000.
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HISTORY OF LOS ANGELES COUNTY
It is of brick, concrete and frame, at the corner of Marine Street and Trolley-way.
EL MONTE BANKS
The First National Bank of El Monte was established August 14, 1903, by Messrs. John H. Bartle, William A. Chess, Isaac F. Baker, Isaac Kaufman, Prescott F. Cogswell, Carl F. Robb and J. A. Graves. The original officers were: John H. Bartle, president; W. A. Chess, secretary. The first capital was $25,000, which has been increased to $50,000, with an additional surplus of $25,000. The present deposits amount to $600,000. In 1917 a concrete and steel bank building was erected at a cost of $10,000.
The El Monte Branch of the Southern County Bank of Anaheim, was established April 1, 1913, with officers as follows: Russ Avery, president; J. S. Killian and A. Nagel, vice presidents ; C. A. Boege, cashier ; A. B. Endicott, manager. At first the capital was $50,000, which has increased to $75,000. In May, 1922, it had deposits amount- ing to $758,000 (all three of its banks). In February, 1918, the bank sustained a loss by a "hold-up," but the funds were fully insured. The building is a leased structure.
BANKS OF MONROVIA
The First National Bank of Monrovia was organized June 20, 1887, by J. F. Sartori, L. L. Bradbury, J. F. Brossart and John Wilde. It had at first a capital of $50,000 which has been increased to $100,000, with a surplus of the same amount. The latest statement shows deposits of $1,313,000.00; cash on hand and in banks $220,054.07; total resources, $1,561,860.51. Combined with the affiliated Savings Department the total resources amount to $2,655,699.80. In 1908, at a cost of $60,000, a fine brick terra cotta trimmed bank building was erected; a modern building containing fire-proof vaults, etc. The present officers are : John H. Bartle, president; J. F. Sartori and H. S. McKee, vice presidents; W. A. Chess, cashier; George H. Ander- son and C. L. Nichols, assistant cashiers.
The Monrovia Savings Bank was established in March, 1903, by J. H. Bartle and W. A. Chess. Its original capital was $10,000, but is now $100,000, with a surplus fund of $20,000. The last statements show the amount in deposits to be $933,820.00.
First to serve as officers were: John H. Bartle, president; W. A. Chess and Marco H. Hellman, vice presidents; Arthur J. Everest, treasurer ; K. E. Lawrence, secretary and cashier ; E. C. Smith, assis- tant cashier. The bank is in a leased building erected about 1886.
LA VERNE BANKING
The Farmers and Merchants Bank of La Verne was established in 1916, by D. S. Newcomer with a capital of $25,000, the same as now. The first officers were: L. C. Klinzman, president; George B. Cross, vice president; D. S. Newcomer, cashier. The present surplus is
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HISTORY OF LOS ANGELES COUNTY
$10,000 ; recent deposits are $250,000. The December, 1921, statement shows resources and liabilities amounting to $295,556.32. A leased banking room is occupied by this institution. The 1922 officers are as follows: L. C. Klinzman, president; R. L. Davis and H. E. Belcher, vice presidents ; D. S. Newcomer, cashier; Pearl Klinzman, assistant cashier.
The First National Bank of Lordsburg (name changed to La Verne in 1917) was established December 6, 1909, by Henry L. Kuns and W. D. Frederick. Its capital is $25,000. The officers at first were : Henry L. Kuns, president; W. D. Frederick, cashier. The present surplus is $5,000. In the fall of 1906, a bank building was erected costing $8,000, and this is the home of the First National Bank of La Verne. The officers at this date are: E. R. Yundt, president ; H. J. Vaniman, vice president and cashier ; Ethel V. Hammer, assist- ant cashier. The statement issued May 5, 1922, shows resources and liabilities amounting to $363,490.
BANKS OF SAN DIMAS
The First National Bank of San Dimas was established in 1904 by W. A. Johnstone and others. The capital at first was $25,000, but today it has a capital and surplus of $90,000. Present amount in de- posits $500,000. At the close of business in March 13, 1922, the re- sources and liabilities amounted to $593,240.24. The bank building is of brick and cost $15,000. The original institution which preceded the First National, was the "Bank of San Dimas." The original officers were: W. A. Johnstone, president; D. C. Teague, vice presi- dent; John P. Roberts, cashier. The officers in charge today are : W. A. Johnstone, president ; J. S. Billheimer and F. H. Harwood, vice presidents ; G. Cyril Platt, cashier, and Fay C. Marchant, assistant cashier.
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